PUNE, India, August 1, 2016 /PRNewswire/ --
The report "Diving Equipment Market by Type (Rebreather, Exposure Suit, Decompression Chamber), Application (Commercial, Defense, Civil), End-User (Oil & Gas, Naval, Aquaculture), Depth (Recreational, Clearance, Saturation), & by Geography - Global Forecasts to 2021", published by MarketsandMarkets, the market is projected to reach USD 3.21 Billion by 2021, at a CAGR of 4.05% during the forecast period.
Browse 100 market data Tables and 47 Figures spread through 143 Pages and in-depth TOC on "Diving Equipment Market"
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A number of factors,such as the rise in disposable income and spending in recreational activities in emerging nations and increasing demand for professional divers in oil & gas industry are expected to drive the growth of the diving equipment market.
Rebreather segment is projected to lead the diving equipment market during the forecast period.
The rebreather segment leads the Diving Equipment Market, and is expected to continue to lead over the next five years. This growth can be attributed to the need for underwater missions and special operations by the military, as well as for saturation diving. Rebreather is also required in platforms where the diver is needed to go below 50 meters depth underwater. It is majorly used in the military application and in some case in recreational diving as well.
The commercial diving is expected to be the fastest-growing segment during the forecast period.
On the basis of application, the diving equipment market has been segmented into civil, commercial, and defense. The commercial diving segment is expected to lead the diving equipment market. This growth can be mainly attributed to the increasing demand for divers in the oil & gas industry globally. The oil & gas rigs expansion projects and search for new refineries require skilled or professional divers for underwater tasks.
North America is expected to be the largest market for diving equipment.
The North American region is expected to lead the diving equipment market, owing to technological developments for the equipment and the presence of key players in the region. The APAC diving equipment market is expected to grow at the highest CAGR due to various initiatives related to dive tourism and marine-related research activities, which require frequent dives. This growth can also be attributed to the increase in government spending for R&D initiatives, and rise in per capita income in emerging nations.
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Cobham Plc. is one of the key players in the diving equipment market
Cobham plc (U.K.), Dragerwerk AG & Co. KGaA (Germany), Divex Ltd. (U.K), and Aqua Lung International (U.S.) are the key players operational in the diving equipment market. The market share analysis has been carried out by tracking all the products of the key market players, their geographical presence, and recent developments.
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