The Diving Equipment Market Led by Exposure Suits Segment Growing at 4% CAGR to 2021

Aug 03, 2016, 02:00 ET from ReportsnReports

PUNE, India, August 3, 2016 /PRNewswire/ --

Global diving equipment market is expected to grow from $2.72 billion in 2016 to $3.21 billion by 2021, at a CAGR of 4.05%, driven by the increasing number of underwater projects, exploration of oil rigs, underwater construction, and recreational activities, among others.

Complete report on diving equipment market spread across 143 pages, profiling 10 companies and supported with 100 tables and 47 figures is now available at .

The rise in demand for re breathers, decompression champers, exposure suits, and accessories in the diving equipment market; growing need for search and rescue operations; and huge investments for technological advancements of defense operations are playing a significant role in fueling the demand of diving equipment significantly around the world.

The exposure suits segment of the diving market is expected to grow at the highest CAGR during the forecast period. There are two types of exposure suits, namely, wet suits and dry suits. The highest growth rate for dry suit can be attributed to its longer durability and shelf life. It has healthy growth opportunities in the coming 5 years, since the materials used for making the equipment are lightweight which make dives comfortable.

On the basis of region, North America is expected to lead the diving equipment market. Countries in this region include the U.S. and Canada. North America diving equipment market is mainly driven by the large number of original component manufacturers (OCMs) and original equipment manufacturers (OEMs), major technological upgradation for existing equipment by the key players, presence of key market players, such as Honeywell (U.S.) and Cobhamplc. (U.K.). Additionally, huge investments by the U.S. Navy for the defense rebreather coupled with other major equipment are also fueling the growth of the diving equipment market.

The key players operational in the diving equipment market include Cobham plc(U.K.), Divex Ltd. (U.K.), Submarine Manufacturing & Product Limited (U.K.), Dragerwerk (Germany), Honeywell International, Inc. (U.S.), and Aqualung International (U.S.), among others. Order a copy of this research at .

In the process of determining and verifying, the diving equipment market for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C Level (35%), D Level (25%) and others (40%) from various key organizations operating in the global diving equipment market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), Asia Pacific (30%) and Rest of World (5%).

On a related note, another research on Mooring Inspection Market Global Forecast to 2020 says, the global market is projected to reach USD 362.5 million by 2020, at a CAGR of 3.4% between 2015 and 2020. Below water inspection segment is expected to be the biggest type segment. Asia-Pacific commands the largest share of the total mooring inspection market. This study estimates the market value for mooring inspection market during the forecast period (2015 to 2020). Companies like Welaptega, Oceaneering International, DeepOcean, Acteon Group, InterMoor, Deep Sea Mooring, DOF Subsea, Moffatt & Nichol and Delmar have been profiled in this 100 pages of research report available at .

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