NEW YORK, April 21, 2022 /PRNewswire/ -- The scuba diving equipment market size is expected to grow by USD 537.80 mn from 2019 to 2024. The growth momentum of the market will expand at a CAGR of 3% during the forecast period.
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Scuba Diving Equipment Market: Driver
The health benefits of scuba diving are expected to drive the growth of the scuba diving equipment market. Scuba diving maximizes the oxygen intake of the diver and improves the quality of breathing. The function of breathing while scuba diving requires a certain degree of resistance and needs a high degree of exertion when compared to free breathing. Scuba diving helps in maintaining physical fitness. It improves the strength and endurance levels of divers, reduces stress, and burns about 300 calories per hour. Scuba diving increases the heart rate and strengthens the heart muscle. This, in turn, reduces the risks associated with coronary heart disease, heart failure, high cholesterol, and high blood pressure. Scuba diving also helps in reducing the levels of stress and anxiety. The controlled breathing required in scuba diving relaxes the human body. These benefits associated with scuba diving will positively influence the growth of the global scuba diving equipment market during the forecast period.
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Scuba Diving Equipment Market: Segmentation Analysis
The scuba diving equipment market has been segmented by product (bags and apparel, rebreathers and regulators, diving computers and gauges, and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and MEA).
North America led the scuba diving equipment market in 2020, followed by Europe, APAC, South America, and MEA, respectively. In 2019, the US dominated the scuba diving equipment market in North America. The US, Canada, and Mexico are considered the key leading countries. The growth in inbound tourism in these countries is a major contributor to the growth of the scuba diving equipment market in the region. North American countries have been witnessing increased participation in in-the-water sports. This also boosts the growth of the scuba diving equipment market in the aforementioned countries. The growth of the outdoor apparel market in the US, including the scuba diving apparel market, is driven by the launch of innovative products, the rising use of online platforms to purchase outdoor apparel, and increasing participation in outdoor activities. The rising demand for customized outdoor apparel is also driving the growth of the market in the US. The saturating economic condition of the US is expected to hamper the growth of the market during the forecast period. However, the rising demand for scuba diving apparel made from high-quality fibers will drive the growth of the market in North America. Moreover, the preference for celebrity-endorsed products and designer collections is rising in the region. Such products cost more than regular apparel. Hence, the revenue generated by the market in North America is expected to increase during the forecast period.
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Scuba Diving Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3% |
Market growth 2020-2024 |
USD 537.80 million |
Market structure |
Fragmented |
YoY growth (%) |
(2.27) |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
APAC at 35% |
Key consumer countries |
US, Germany, France, Brazil, Italy, and South Korea (Republic of Korea) |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Apollo Sports Inc., Aqua Lung International, AQUATEC - DUTON INDUSTRY CO. LTD., BEUCHAT INTERNATIONAL S.A.S, Diving Unlimited International Inc., Henderson, Huish Outdoors, IST SPORTS CORP., Johnson Outdoors Inc., and Marquee Brands |
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, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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SOURCE Technavio
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