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The Global Scuba Diving Equipment Market size is estimated to grow by USD 809.72 million at a CAGR of 4.53% between 2023 and 2028. The market experiences growth driven by significant factors. With scuba diving offering notable health benefits, there's a rising interest in diving activities worldwide. Furthermore, the burgeoning tourism industry, coupled with improving infrastructure and safety measures, fosters increased participation in diving. Moreover, the surging popularity of adventure sports amplifies the demand for scuba diving equipment, reflecting a growing market trend toward outdoor recreational pursuits. This market analysis and report also includes key market drivers, trends, and challenges during the forecasted period.
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The offline segment is estimated to witness significant growth during the forecast period. Scuba diving equipment is mainly sold through the retail distribution channel, which contains specialty stores (specialty dive stores, specialty sports stores, and other specialty stores such as specialty apparel stores), hypermarkets/supermarkets, warehouse clubs, and department stores. The sales through these retail formats support to generate most of the global market's revenue.
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The offline segment was the largest segment and was valued at USD 9.37 billion in 2018. In specialty stores, the demand for a personalized shopping experience is increasing among consumers, which is augmenting the growth of the segment. In department stores, hypermarkets, and supermarkets, as consumers are focusing on shopping for different types of goods from stores with a wide variety of products and competitive prices, market players of diving suits and other equipment are focusing on expanding globally to increase their consumer base. Hence, such factors are expected to boost the growth of the offline segment of the market during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US dominated the market in North America. In the market in North America, the US, Canada, and Mexico are considered the key leading countries. The growth in inbound tourism in the aforementioned countries is a major contributor to the growth of the market in the region.
Furthermore, various prominent market players in the US, Canada, and Mexico countries are investing in thermal wetsuits, which would encourage scuba divers to participate in the sport with ease and comfort inside the cold water. Furthermore, the preference for celebrity-endorsed products and designer collections is rising in the region. Such products cost more than ordinary diving apparel. Hence, the revenue generated by the market in North America is expected to grow during the forecast period.
The market is experiencing growth driven by rising disposable income and government initiatives to promote travel and tourism, particularly through eco-friendly initiatives supported by organizations like the Ministry of Tourism and the Egyptian Chamber of Diving and Watersports (CDWS), fostering sustainability and environmental consciousness. With the surge in online sales and distribution via e-commerce platforms such as DiveInn and LeisurePro, scuba diving enthusiasts have access to a wide range of aqua gym equipment, including diving masks, regulators, wetsuits, and fins, catering to the increasing demand for underwater photography and exploration while ensuring the preservation of marine ecosystems, endorsed by the Professional Association of Diving Instructors (PADI) and the utilization of eco-friendly equipment like the KISS and GEM rebreathers. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing popularity of adventure sports is the key factor driving market growth. The burgeoning popularity of adventure sports, fueled by increasing disposable income and government initiatives, drives market expansion. Adventure seekers, drawn to thrills and memorable experiences, are turning to activities like scuba diving to explore underwater marine environments. The visibility of adventure sports, including scuba diving, is amplified through social media and online platforms like DiveInn and LeisurePro, showcasing stunning photos and videos that spark curiosity and fuel interest.
Moreover, the association of adventure sports with health and wellness, coupled with the thriving travel and tourism industry, contributes to the growing demand for scuba diving equipment. Standardized training programs, supported by organizations like the Professional Association of Diving Instructors (PADI), make acquiring scuba diving skills more accessible, further propelling market expansion. Additionally, initiatives promoting sustainability and eco-friendliness resonate with environmentally conscious consumers, driving the popularity of diving equipment designed for minimal environmental impact, such as KISS and GEM rebreathers.
The surge in innovative scuba diving equipment is the primary trend shaping market growth. The key market competitors are focusing on product innovation plans. The current market players are focused on enhancing their offerings in terms of design, color, shape, and weight to meet the needs of individual consumers. Market players are continuously innovating and introducing advanced products that are highly efficient and user-friendly.
Additionally, market players are investing in advanced dry suits, which can withstand lacerations, abrasions, and punctures. Of late, there exists a high degree of demand for custom-made equipment. Hence, such innovations will boost the growth of the market trends during the forecast period.
Seasonal challenges associated with scuba diving activity are a challenge that affects market growth. Adverse and uncertain weather conditions negatively impact the advent of water sports like diving. Severe thunderstorms and heavy snowfall, especially in the US, negatively impact the market in the country. In addition, the Ring of Fire in the Pacific Ocean restricts such activities in the area to a large extent. This negatively impacts the market in APAC.
Moreover, fluctuations in weather patterns and factors like extreme humidity or temperature falls negatively impact favorable diving conditions. Hence, such factors may impede the expansion of the market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is buoyed by rising disposable income levels, with the UK's Gross Disposable Household Income (GDHI) driving demand across regions like Northern Ireland, England, Wales, and Scotland. Government initiatives to promote travel & tourism further stimulate market growth, with the Ministry of Tourism actively supporting the industry. Online sales through e-commerce platforms like DiveInn, LeisurePro, and Amazon are increasingly popular, catering to consumers' preferences for convenience. Sustainability and environmental consciousness are key trends, driving the demand for eco-friendly diving equipment such as masks, regulators, buoyancy control devices, wetsuits, and fins. Additionally, interest in underwater photography boosts sales for specialized equipment like Neptonics and Peripheral Freediving/Spearfishing Masks.
The market is witnessing significant growth driven by various factors such as the increasing popularity of Scuba diving among travelers, backpackers, and honeymoon couples seeking adventure. Online sales and distribution channels have made Scuba equipment more accessible to enthusiasts worldwide, while a focus on eco-friendliness is promoting the preservation of marine ecosystems. Organizations like the Professional Association of Diving Instructors (PADI) and Egyptian Chamber of Diving and Watersports (CDWS) play crucial roles in promoting dive tourism, facilitating courses, and ensuring safety standards. Innovative equipment like Diving masks & goggles, Regulators & octopuses, and Buoyancy Control Devices (BCDs) are enhancing the underwater diving experience, contributing to the overall growth of the industry. However, challenges such as maintenance defense and high expenses persist, necessitating sustainable practices to safeguard the aquatic environment and marine flora & fauna.
The market also continues to thrive with a diverse array of offerings catering to enthusiasts worldwide. Aqua gym equipment and specialized gear like wetsuits & drysuits ensure comfort and safety during underwater activities. Organizations like PADI Travel facilitate dive excursions, contributing to the growth of the Dive Tourism Market. Innovative equipment such as the KISS and GEM rebreathers enhance the diving experience, while courses like the PADI recreational rebreather course ensure proper training. Safety remains paramount, with advancements in underwater breathing apparatus and bouncy managing devices reducing risks associated with recreational diving. Despite challenges like fatal accidents and wear & tear, efforts towards a sustainable aquatic environment and the surge in coastal tourism drive growth in this dynamic industry.
The market forecasting report covers market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Scuba-Diving Equipment Market Scope |
|
Market Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.53% |
Market Growth 2024-2028 |
USD 809.72 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.18 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, Australia, Germany, France, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Apollo Sports USA Inc., Aqualung Trading, AQUATEC DUTON INDUSTRY CO. LTD., BEUCHAT INTERNATIONAL S.A.S, Cressi Sub Spa, Dive Rite, Diversco Supply, H2Odyssey, Head, Henderson Sport Group, Huish Outdoors, IST SPORTS CORP., Johnson Outdoors Inc., Marquee Brands, Ocean Reef Group, Poseidon Diving-Systems AB, SEACSUB Spa, Shearwater Research Inc., TUSA, and Diving-Unlimited International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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