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Scuba Diving Equipment Industry

Scuba diving equipment market is driven by rise in popularity of water sports and demand for diving kits by tourists. Increase in global tourism and low cost airline is likely to propel the market growth during the forecast period.

ID: 1550140
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(businesspress24) - The global scuba diving equipment market is anticipated to grow at a significant CAGR of 9% during the forecast period. Scuba diving is one of the most practised sea activities by sea explorers. Lately, there is a significant rise of marine researchers across the globe, who spend half a year underwater for conducting marine research. Very recently, the industry witnesses much progress since it receives significant funding for training and development purpose.

Scuba diving equipment market is driven by rise in popularity of water sports and demand for diving kits by tourists. Increase in global tourism and low cost airline is likely to propel the market growth during the forecast period. Government initiatives and marketing techniques for promotion of marine activities are supplementing the market demand for scuba diving equipment.

Preference by honeymoon couples for sea-side destination is another trend observed in the recent years. However, fatalities caused due to non-professional conduct of scuba divers and significant costs for procuring diving equipment is likely to hinder the market growth in the forecast period.

Product segmentation for scuba diving equipment industry involves diving computers and gauges, bags and apparel and rebreathers and regulators. Bags and apparel account for a significant market share due to rise in travel and tourism. Market is geographically segmented as North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America dominates the global market scenario owing to technological developments and strategic presence of key players. APAC diving equipment market is anticipated to grow at a higher CAGR owing to various initiatives pertaining to travel & tourism industry.

Rise in government spending for R&D initiatives is likely to propel the regional market. Middle East and African market account for a greater market share due to a developed infrastructure for sea diving and related activities. The key players profiled in the scuba diving equipment market report are Aqua Lung International, American Underwater Products, MARES, Sherwood Scuba and Johnson Outdoors.



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published by: unnati_gade
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Date: 06/24/2019 - 13:32
Language: English
News-ID 1550140
Character count: 2441
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Meldungsart: Financial
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Freigabedatum: 24.06.2019
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