Diving Suit Market Size Worth $721.0 Million by 2025 | CAGR: 6.2%: Grand View Research, Inc.
Oct 21, 2019, 04:35 ET
SAN FRANCISCO, Oct. 21, 2019 /PRNewswire/ -- The global diving suit market size is expected to reach USD 721.0 million by 2025, expanding at a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising number of individuals participating in watersports across the globe is anticipated to propel market growth over the forecast period. Continuous innovations in material technology by market players have resulted in increased customer inclination toward the product.
Key suggestions from the report:
- Rise in the number of scuba divers in the U.S. is anticipated to drive diving suit market growth in North America
- Key manufacturers worldwide are focusing on development of superior suits that facilitate deep under-water explorations, without impacting the physiology of underwater living organisms
- Asia Pacific is anticipated to emerge as a lucrative market over the coming years primarily due to rising participation in recreational water sports, coupled with considerable increase in diving tourism, especially in Southeast Asian countries
- Demand in Middle East and Africa is expected to witness considerable growth over the next few years as the region encompasses a large number of diving sites, particularly in coastal regions with warmer seas.
Read 106 page research report with ToC on "Diving Suit Market Size, Share & Trends Analysis Report By Price Bracket (Less Than $199, $200-$399, $400-$599, $600-$800, Above $800), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/diving-suit-market
The advent and adoption of polytherm tri-laminate material and no-stitch technology in diving gear is expected to offer numerous opportunities for industry players. It will support companies to differentiate their product offering and provide better diving experience. Such innovations are anticipated to encourage consumers to replace their existing suits with improved versions. Increasing adoption of atmospheric suits for deep sea exploration is another trend that is gradually gaining prominence among consumers looking for a recreational dive. Additionally, such suits are gaining prominence across various end-use industries including oil and gas, military, and navy.
The trend of women participation in diving has been on a continuous rise over the past decade. Women are actively participating in almost every area where diving is required, including military and naval forces. Manufacturers are focusing on development of user-friendly and lightweight water sports wear, in order to enhance women's preference toward their products. Such developments, coupled with rising female participation in water sports, have led market players to develop diving suits exclusively for women. It will thereby expand their product portfolio for the masses.
Grand View Research has segmented the global diving suit market by price bracket and region:
- Diving Suit Price Bracket Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
- Less than $199
- $200-$399
- $400-$599
- $600-$800
- Above $800
- Diving Suit Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Denmark
- Norway
- Sweden
- Asia Pacific
- China
- India
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Egypt
- Jordan
- South Africa
- Tanzania
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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