LONDON--(BUSINESS WIRE)--The scuba diving equipment market size is expected to post a CAGR of over 9% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
The rising popularity of water sports is one of the primary reasons for the scuba diving equipment market growth. Lately, there has been an increase in demand for water sports such as scuba diving, wakeboarding, flyboarding, jet skiing, surfing, snorkeling, and stand-up paddleboarding. Governments of various countries have increased their emphasis on water sports to expand the potential of the tourism sector. The Facilities for the Water Sports Industry (FAWI) project was initiated to improve the water-sports infrastructure in Europe. Along with this, many countries have independent regulatory bodies that organize and promote water sports and games.
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As per Technavio, the surge in innovative scuba diving equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2018-2022.
Scuba Diving Equipment Market: Surge in Innovative Scuba Diving Equipment
The scuba diving equipment market is witnessing a surge in innovative scuba diving equipment. Of late, the key market competitors are focusing on product innovation strategies. The existing players are focused on the improvement of their offerings in terms of design, color, shape, and weight to meet the needs of individual consumers. Many players in the market are investing in lightweight and flexible scuba diving equipment. Additionally, vendors are investing in advanced dry suits, which can withstand lacerations, abrasions, and punctures.
“Other factors such as the increasing participation of women in water sports, and rise in demand for eco-friendly scuba diving equipment will have a significant impact on the growth of the scuba diving equipment market value during the forecast period,” says a senior analyst at Technavio.
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Scuba Diving Equipment Market: Segmentation Analysis
This market research report segments the scuba diving equipment market by distribution channel (online and offline), product (bags and apparel, diving computers and gauges, rebreathers and regulators, and others), and geography (Americas, APAC, and EMEA).
The Americas led the scuba diving equipment market in 2017, followed by EMEA and APAC, respectively. However, the EMEA region is expected to witness the highest incremental growth due to factors such as the new product launches, social media campaigns, and the increasing number of sponsorships and celebrity endorsements.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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