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The diving suit market size is estimated to grow at a CAGR of 5.53% between 2023 and 2028. The market size is forecast to increase by USD 173.87 million. The growth of the market depends on several factors such as the health benefits of diving, the increasing popularity of recreational activities, and the growing tourism and improving infrastructure and safety.
This diving suit market report extensively covers market segmentation by type (wet suits and dry suits), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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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 recreational activities is the key factor driving market growth. The sport of scuba diving offers an excellent way to spend a few days in leisure and often necessitates the use of dive suits. The demand for top-quality diving gear is increasing, as more people are learning to become divers and exploring the underwater environment. Diver suits are increasingly needed by tourists and enthusiasts in the context of increasing maritime tourism that includes activities like reef walks, underwater photography as well and encounters with sea life.
Moreover, diving suits are not limited to scuba diving but are also used in various water sports, such as surfing, paddleboarding, and kiteboarding. The versatility of these suits for different water activities broadens the scope of the diving suit market. Thus. such factors will drive the growth of the global diving suit market during the forecast period.
The rise in demand for eco-friendly diving suits is the primary trend shaping market growth. Before the choice of fabrics to manufacture a swimsuit, sustainability is an important factor taken into account by both manufacturers and suppliers. Some examples of brands that offer eco-friendly swimwear are The Eco Gypsy, Koru Swimwear, Aqua Green, and Emobi. Of late, traditional leather, synthetic rubber, polyurethane, nylon, and other synthetic materials have been replaced by organic, water-based adhesives. Recycled plastic materials are used as raw materials for diving suits.
Moreover, advanced materials such as thermoplastic elastomers (an advanced, non-toxic material) have been increasingly used by key competitors for producing eco-friendly diving suits. For example, in July 2021, BEUCHAT INTERNATIONAL S.A.S committed to adopting an eco-friendly neoprene material for producing its diving suits. Hence, the growing demand for eco-friendly diving suits will drive the growth of the global market in focus during the forecast period.
Seasonal demand for diving suits is a challenge that affects market growth. The advent of water sports such as diving has been negatively affected by unfavourable and unpredictable weather conditions. In the event of severe thunderstorms and hurricanes, there will be a complete prohibition on water sports such as diving, standup paddleboarding, jet skiing, flyboarding, or raffling. Fluctuations in weather patterns and factors like extreme humidity or temperature falls negatively impact favorable diving conditions. This hinders the growth of the global diving suit market.
Moreover, uncertain tidal conditions, too, negatively impact the visibility of the diver. The Ring of Fire in the Pacific Ocean restricts diving activities in the area to a large extent. Such aspects limit the frequency of participation and lead to a shift from outdoor to indoor sports. Hence, these factors may impede the growth of the market during the forecast period.
The market research 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Diving Suit Market 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 research 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 wet suits segment is estimated to witness significant growth during the forecast period. Wet suits reduce heat insulation when the user is engaged in water, is flooded, or is approaching from near-horizontal directions. Wet suits are used while engaging in underwater diving, sailing, sea surfing, river rafting, and perseverance swimming. In comparison to dry suits, wet suits are economical. Wet suits comprise full wet suits (also known as streamers) and spring suits.
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The wet suits segment was the largest segment and was valued at USD 373.47 million in 2018. Types of full-wet suits and spring-wet suits are semi-dry suits and heated suits. Furthermore, technological advances have led to wet suits with improved flexibility, fit, and comfort. Modern wetsuits allow for a wider range of motion, which is appealing to divers, surfers, and other water sports enthusiasts, which in turn will boost the growth of the global market in focus during the forecast period.
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North America is estimated to contribute 37% 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. Numerous promotional drives and governmental initiatives impact the region's market positively. However, extremely harsh winters, however, hinder the growth of the diving suit market in the Americas.
Furthermore, Canada is one of the major markets for water sports in the Americas. Different types of water sports, like diving, jet-skiing, wakeboarding, and others, are popular in Canada. The percentage of women who participate in diving is high in the country. Over the past few years, the popularity of water sports has increased in Canada. Diversification in water sports is another upcoming trend in the country. Hence, such factors are expected to drive market growth in this region during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the diving suit market in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Furthermore, the participation of women in water sports has increased in the region. This contributes to the increased demand for diving suits among women, especially teenagers. Lately, diving is considered a recreational activity as well. Hence, these factors will fuel the growth of the market in North America during the forecast period.
The diving suit market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
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Diving Suit Market Scope |
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Report Coverage |
Details |
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Page number |
151 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.53% |
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Market Growth 2024-2028 |
USD 173.87 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.15 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key countries |
US, China, Australia, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AKONA, Aqua Leisure Recreation LLC, Aqualung Trading, AQUATEC DUTON INDUSTRY CO. LTD., Authentic Brands Group LLC, BEUCHAT INTERNATIONAL S.A.S, Cressi Sub Spa, Dive N Surf, Dive Rite, Diving Unlimited International Inc., H2Odyssey, Head, Huish Outdoors, Northern Diver, Omersub Spa, Orkla ASA, SF Tech Sarl, SHEICO Group., Vissla, and Patagonia Inc. |
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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, and market condition analysis for the forecast period. |
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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 Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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