Increasing Popularity of Adventurous Activities Promote Diving Suit Demand

02/dic/2019 11:00:30 Grand View Research Contatta l'autore

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Diving Suit market

According to a new report by Grand View Research, Inc., the global diving suit market accounted for USD 498.2 million in 2018 and is expected to witness a CAGR of 5.5% over the forecast period (2019 - 2025). Increasing popularity of people engaging in recreational activities globally is expected to drive the demand for the market over the next few years. On account of diversified applications of these suits in sea rescue and other commercial operations, these products are gaining immense popularity.

Advancement in material technology, which is leading to continuous innovations and product development, is promoting the growth of the market. Manufacturers are keen to invest in R&D in order to enhance the overall consumer experience. Increasing adoption of no-stitch technology and polytherm tri-laminate material is also expected to impel the market growth.

Based on region, North America accounts for the largest market in diving equipment, especially dry suits and wet suits. The region emerged as the leading market in terms of demand as well as revenue in 2018 and has a large presence of leading companies such as Aqua Lung International, Dive-Rite, and Cressi-sub. These factors are responsible for the significant growth of the region.

The market for diving suits in Asia Pacific is anticipated to witness the highest growth in terms of revenue over the next few years. The growth is on account of substantial rise in diving tourism in coastal areas across the region. Southeast Asian countries such as Vietnam and Indonesia witnessing a rising popularity in watersports participation, which is also one of the reasons leading to increased demand for diving suits.

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The region of Middle East and Africa also witnessed an increased demand for the product since 32 thousand units of diving suits were sold in this region in 2018. On account of numerous diving sites across the region, particularly in South Africa and Egypt, the regional demand is expected to experience a substantial growth over the forecast period.

In order to overcome intense competition, new product development is one of the major strategies incorporated by leading companies. For instance, for diversifying its offerings, Sheico Group launched eco-friendly wet suits, embedded with green technologies in 2017. In February 2018, SCUBAPRO introduced its new cold water collection of diving dry suits in order to expand its product line.

In addition, major companies in the diving suit market are keen to develop superior and low-cost products and make considerable investments in R&D in order to gain a competitive edge. Additionally, these companies are offering various suits ranging from thickness of 2mm to 9mm in order to diversify their offerings and augment their product portfolio.

Some of the prominent players operating in the diving suit market are Beuchat; Cressi; Aqua Lung; MARES; Riffe International, Inc.; Omer America; ROB ALLEN; SCUBAPRO; XCEL; SALVIMAR srl; and SHEICO Group.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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