Global Diving Suits Market is foreseen to record a compound annual growth rate of above 5% over the conjecture period from 2021to 2026.
A diving suit is a gadget or article of clothing that is intended to shield a jumper from the underwater climate. Different parts of the suit include a weighted boot, water-light covers, and a metalhead protector with straightforward openings. The diving suit is likewise utilized for various applications, for example, salvage activity, diversion, etc. Jump hardware or diving gear alongside any extra hardware that is also needed for remote ocean diving. Water sports have become popular in recent years. Boat riding, wakeboarding, water skiing, scuba diving, and free diving are a portion of the water exercises that have increased high foothold over the most recent years. Water sports are courageous, activity engaging, thrilling, and energizing, which draws in a rising number of individuals.
Market Drivers:
An increasing number of people participating in recreational exercises around the world is causing the global diving suits market to grow over the conjecture time frame. Production of diving suits is growing because they have various applications in ocean salvage and other business activities. The market has been seeing persistent item improvements and developments in material innovation in the past couple of years. Manufacturers are putting resources into R&D to upgrade the general customer experience. The rising quality of current materials and advances, including polytheism tri-cover material, is a factor that helps the market to grow. The approach of cutting-edge diving suits is driving interest among customers. Constantly growing revenue in water sports is one of the noticeable variables driving the global diving suits market. Swimming and scuba diving are turning into important recreational exercises. Numerous administration bodies around the world are advancing water sports in their states to expand the travel industry income. This is monitored by various administrators and governments are relied upon to enlarge market development over the figure time frame. The interest in ladies diving suits has seen significant development in recent years. A rising number of ladies effectively taking an interest in water sports in the Asia Pacific has improved the sales. Current diving hardware has become light-weight and easy to use, which is promoting ladies to participate in this sport. This factor will trigger market development in the foreseen years.
Market Restraints:
Various losses of life while diving confines the development of the market. The diving suits market is hampered because of unpleasant water conditions, helpless gas the board, abuse of gear, ensnarement, helpless lightness control, and prior medical issues. Most of the mishaps are credited to human blunders. Additionally, a portion of these accidents are unavoidable and brought about by unforeseeable circumstances. Rise in the number of deadly accidents have a significant money-related effect on the diving or related industry by loss of pay, lost business, expanded protection premium, and high suit costs.
Price Bracket Insights:
The global diving suit market can be portioned into under $199, $200-$399, $400-$599, $600-$800, and more than $800. The more than $800 fragment is relied upon to show the most noteworthy CAGR over the conjecture time frame, in both income and interest. This section normally incorporates dry suits made of powerful hard-wearing material that gives better warm protection to the jumper.
The interest in suits of $200-$399 was most elevated in 2018 and the pattern is foreseen to proceed over the conjecture time frame. This section commonly incorporates low to medium-estimated diving suits, which are progressively being utilized for recreational and light business exercises. The section of $600-$800 is extended to display critical development somewhere in the range of 2021and 2026. An expanded recreational diving movement in the colder areas is foreseen to provoke interest for savvy dry suits.
Type Insights:
In view of type, the worldwide diving suits market is fragmented into dry suits and wetsuits. The wetsuit portion represents the significant market share nonetheless, the drysuit fragment is ready to develop with the most elevated CAGR during the investigation time frame. Drysuit assists with keeping the body totally dry by guaranteeing that no water gets into the suit. A drysuit is made up of squashed neoprene, froth neoprene, vulcanized elastic, or rock-solid nylon.
Distribution channel insights:
In view of the sales channel, the market is characterized into offline channels and online channels. Offline channels lead worldwide diving suits market share. Additionally, the development of web-based business stages, enhancements in coordination administrations, ease in installment alternatives, and the office to enter new global markets for significant brands will expand deals through online channels.
Regional Analysis:
North America is among the biggest buyers of diving hardware, particularly wet suits, and dry suits. The huge presence of makers over the locale, such as Cressi-sub, Dive-Rite, and Aqua Lung International, is likely to drive regional development. The market for diving suits in the Asia Pacific is foreseen to observe the most noteworthy development over the gauge time frame, enrolling a CAGR of over 9.0% from 2021to 2026. The generous ascent in diving the travel industry in beachfront regions of the area is foreseen to prod market development. Southeast Asian nations like Indonesia and Vietnam have seen an extensive ascent in water sports cooperation. This has significantly expanded my interest in diving suits in the area. According to assessments, in excess of 32 thousand units of diving suits were sold across the Middle East and Africa in 2018. The regional interest is relied upon to encounter significant development over the gauge time frame attributable to the presence of various diving locales over the area, particularly in Egypt and South Africa. Moreover, a few areas in South Africa including 7 Mile Reef, Protea Banks, and Riy Banks have noticed critical development in sightseers in the course of recent years. Accordingly, water sports are picking up prominence over the area.
Key Market Players:
Aqua Lung, Beuchat, Cressi, Mares, Omer America, Riffe International, Inc., Rob Allen, Salvimar Srl, Scubapro, Sheico Group, and XCEL are some of the prominent players operating within the market.
Production of diving suits has stopped across different end-use factories that are hampering the demand especially the polymers. The winning macro environment because of the pandemic will enlist signs of growth of this market relying upon the course of coronavirus pervasiveness and ensuing continuing of production.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Diving Suit Market, By Type
6.1.1 Dry Suit
6.1.2 Wetsuit
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Diving Suit Market, By Distribution Channel
6.2.1 Offline
6.2.2 Online
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Diving Suit Market, By Price Bracket
6.3.1 Less Than $199
6.3.2 $200-$399
6.3.3 $400-$599
6.3.4 $600-$800
6.3.5 Above $800
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Distribution Channel
7.2.4 By Price Bracket
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Distribution Channel
7.3.4 By Price Bracket
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Distribution Channel
7.4.4 By Price Bracket
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Distribution Channel
7.5.4 By Price Bracket
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Distribution Channel
7.6.4 By Price Bracket
8. Key Player Analysis
8.1 Aqua Lung
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Beuchat
8.3 Cressi
8.4 Mares
8.5 Omer America
8.6 Riffe International, Inc
8.7 Rob Allen
8.8 Salvimar Srl
8.9 Scubapro
8.10 XCEL
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
