The diving equipment market has shown robust growth, expanding from $4.36 billion in 2023 to $4.75 billion in 2024, at a CAGR of 9.0%. Growth has been driven by the popularity of tourism and leisure activities, stringent safety regulations, and the growth of the diving industry. The market is expected to reach $6.7 billion by 2028, with a CAGR of 8.9%. Key drivers include trends in adventure tourism, safety and training standards, and increasing health and wellness consciousness. Major trends anticipated in the forecast period include the integration of advanced technology, eco-friendly designs, and the rise in popularity of underwater photography and videography.
Major Driver In The Diving Equipment Market
The rise in the popularity of water sports is set to propel the growth of the diving equipment market. Water sports encompass various activities played or practiced on the water, such as swimming, water polo, and surfing. Diving equipment is essential for water sports enthusiasts to ensure body protection and enhance comfort during participation. Notably, the 19th FINA World Championships in Budapest 2022 featured 2,000 athletes from 180 countries, showcasing the global enthusiasm for aquatic sports. In 2023, the World Aquatics Championships in Fukuoka drew 2,392 athletes representing 194 countries, further emphasizing the continued growth in the popularity of water sports. As a result, the diving equipment market is expected to witness significant expansion. The market size is estimated to be [2023 Market Size] in 2023, with projections to [2024 Market Size] and [2028 Market Size] in 2024 and 2028, respectively.
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Diving Equipment Market Competitive Landscape
Cobham plc, IST Sports Corp., Johnson Outdoors Inc., Mares Italia S.p.A., Suunto Oy, H2Odyssey Corporation, Tabata Co. Ltd., Dive Rite Systems International LLC, SeaQuest International LLC, Honeywell International Inc., Huish Outdoors LLC, BOWMAN HOLLIS Manufacturing Inc., Body Glove International, Zeagle Systems Inc., Poseidon Sweden AB, Cressi Sub SpA, Henderson Aquatics LLC, Atlantis Dive Center, Apeks Valves Ltd., Tusa Sport Co. Ltd., Diving Unlimited International Inc., Atomic Aquatics LLC, Beuchat International SA, Aqua Lung International, Apollo Sports International, Saekodive Ltd., Aquatec-Duton Industry Co. Ltd., Halcyon Dive Systems Inc., Sherwood Scuba Industries Inc., American Underwater Products Inc.
Diving Equipment Market Segmentation
The diving equipment market covered in this report is segmented –
1) By Type: Rebreather, Cylinders And Propulsion Vehicle, Decompression Chamber, Exposure Suits, Accessories, Other Types
2) By Depth: Recreational Diving, Clearance Diving, Saturation Diving
3) By End-User: Oil And Gas Industry, Naval Industry, Aquaculture Industry, Others End Users
4) By Distribution Channel: Specialty Store, Online, Other Distribution Channels
By Geography:The regions covered in the diving equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the diving equipment market in 2023.
The Diving Equipment Global Market Report 2024 furnishes information about the global diving equipment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
