Diving Suit Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Australia, UK, Germany - Size and Forecast 2024-2028

Global Diving Suit Market Forecast 2024-2028 

The Global Diving Suit Market size is estimated to grow by USD 173.87 million at a CAGR of 5.53% between 2023 and 2028. The market thrives on various influential factors. As diving offers significant health benefits, there's a burgeoning interest in underwater activities worldwide. Moreover, the rising popularity of recreational pursuits and adventure sports fuels the demand for diving suits. Additionally, the expanding tourism industry, coupled with improved infrastructure and safety standards, enhances the appeal of diving experiences, driving market growth. This market analysis and report includes key drivers, trends, and challenges during the forecasted period. 

What will be the size of the Market During the Forecast Period?

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Market Segmentation

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.

Regional Analysis

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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 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. 

Market Dynamics and Customer Landscape

During the forecast period, the market projects substantial growth, driven by increased demand, especially within the wet suit segment, catering to various underwater environments and operational activities across industries such as oil & gas and hydroelectric power. These suits, equipped with weighted boots and metal helmets, undergo continuous R&D to enhance safety and efficiency, facilitating rescue operations and undersea maintenance activities. As industrialization expands, especially in the logistic industry and sea links development for artificial islands' construction and maintenance, the market witnesses rising demand for diving gear, supporting watersport activities like scuba diving and free-diving, including their inclusion in national and international games. Professional divers, trained and certified by accredited agencies, aim to mitigate accidents and fatalities through advanced diving equipment and rigorous safety protocols. 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.

Key Market Driver

The increasing popularity of recreational activities is the key factor driving market growth. The surge in recreational activities drives market growth, particularly in the wet suit segment. Scuba diving, along with other water sports like surfing and paddleboarding, necessitates high-quality diving gear for leisure and exploration of the underwater environment. The increasing maritime tourism, which includes activities like reef walks and underwater photography, fuels demand among tourists and enthusiasts alike.

Moreover, their versatility extends to various water sports, enhancing their market appeal. These factors are expected to propel market growth during the forecast period, supported by advancements in R&D and increased adoption across industries such as oil & gas, hydroelectric power, and logistics for operational and maintenance activities. Additionally, they play a crucial role in rescue operations and undersea maintenance activities, further broadening their market scope.

Significant Market Trends

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 also used as raw materials.

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 trends in focus during the forecast period.

Major Market Challenge

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 conditions. This hinders the growth of the global 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.

Customer Landscape

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 research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

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.

• Aqua Leisure Recreation LLC: The company offers diving suit products such as classic polyester dive suit and entry level dive suit, under the subsidiary of Aquatek.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• AKONA
• 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
• Patagonia Inc.

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.

Market Analyst Overview

The market traces its origins to the 19th century, evolving from simple wet suit segments with weighted boots and metal helmets to sophisticated garments for various underwater activities. Initially used for rescue operations and undersea maintenance activities, diving suits have become indispensable in industries such as oil & gas and hydroelectric power, aiding in construction and maintenance tasks for bridges, sea links, and artificial islands like Palm Jumeirah, Palm Jebel Ali, and World Islands in the UAE. Today, they cater to a wide range of users, from professional divers engaged in operational activities to enthusiasts enjoying watersports like boat riding, water skiing, and free-diving.

However, these activities come with inherent fatal risks, emphasizing the importance of proper training and certification from agencies like the Professional Association of Diving Instructors (PADI). Accidents due to rough water conditions, poor gas management, or equipment misuse highlight the need for caution. The financial impact of accidents includes loss of income, increased insurance premiums, and high litigation costs, driving continuous improvements in diving suit technology and safety standards. The market offers a diverse range of products catering to different price ranges and sold through various sales channels, including offline and online platforms, to meet the demands of consumers across regions like Asia-Pacific and LAMEA. Materials such as crushed neoprene, foam neoprene, vulcanized rubber, and heavy-duty nylon are utilized to ensure thermal insulation, mobility, and durability, extending the lifespan of diving suits.

With the advent of e-commerce platforms and logistics services, purchasing diving suits has become more convenient, offering a wide range of payment options to customers in international markets. The market also offers a range of protective gear for underwater exploration and work. Dive suits are essential equipment, with innovations like water light coverings and transparent portholes enhancing visibility and safety. While primarily used in recreational diving, suits find applications in industries such as the oil & gas and hydroelectric power sectors, where industrialization demands specialized gear. The logistic industry ensures the efficient distribution of these suits for national games and international games. Certifying agencies ensure product quality and safety standards to mitigate risks like the death toll due to misuse of equipment, entrapment, and poor buoyancy control. Adherence to guidelines is crucial, especially for individuals with pre-existing health problems, highlighting the importance of reliable diving gear.

Segment Overview

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. 

• Type Outlook 
  • Wet suits
  • Dry suits

• Distribution Channel Outlook 
  • Offline
    Online

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile 
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Diving-Suit Market Scope
Report Coverage	Details
Page number	151
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.53%
Market Growth 2024-2028	USD 173.87 million
Market structure	Fragmented
YoY growth 2023-2024(%)	5.15
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 37%
Key countries	US, China, Australia, UK, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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.
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.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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