Scuba Diving Equipment Market: Emerging Trends Boosts the Global Industry Growth
Scuba diving is an underwater diving sport in which sportspersons carry a self-contained underwater breathing tool called a scuba. The scuba diving equipment consists of the regulators and Buoyancy Control Device (BCD), propulsion vehicle and cylinder, decompression cuba diving equipment products are essential products for scuba divers during underwater diving. Underwater diving is done for R&D, recreational, defense, and maintenance purposes.
The scuba diving equipment market is expected to grow due to increasing industrial and constructional activities. Additionally, increasing disposable income and attraction toward coastal tourism will fuel the demand during the forecast period. Tourists prefer to visit coastal areas especially during winters. The governments of all countries are taking initiatives to promote tourism as it contributes a large chunk to the GDP and helps governments to improve the economy. Increasing disposable income and desire for recreational activities surges the demand for scuba diving equipment. Scuba diving is more popular among youngsters, travelers, and honeymooning couples. Development of extreme sports and desire to stay fit and toned will further fuel the demand for scuba diving equipment during the forecast period.
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Increasing efforts toward a sustainable aquatic environment is expected to improve the marine flora and fauna and will drive the demand for during the forecast period.
The growth of scuba diving equipment may get hampered due to unfavorable climatic conditions and strict government regulations related to safety and security. In lieu of this, manufacturers are developing new products such as thermal wetsuits which encourage sportspersons to enjoy scuba diving with comfort and ease. Thermal wetsuits help them to maintain body temperature in extreme environments.
The major restraint for scuba diving equipment are coral bleaching and increasing water temperature which is affecting the aquatic life. Moreover, due to various awareness projects and events regarding marine conservation, diving is prohibited in many sites which is expected to hamper the growth of the scuba diving equipment market.
Another reason for the slow growth rate of the scuba diving equipment market is accidents and deaths during scuba diving. Furthermore, scuba diving equipment are expensive and unaffordable for a large number of people.
The scuba diving equipment market is segmented based on type and distribution channel. Scuba diving equipment, in terms of type is segmented into accessories, cylinder, decompression chamber etc. Based on distribution channel, the scuba diving equipment market is segmented as online stores and specialty stores (offline) and others. Specialty stores are dominant suppliers of scuba diving equipment. These stores are located in coastal regions, near the diving sites. The online segment is the fastest growing segment, for example Amazon and Alibaba. The other segment includes sporting goods retail outlets and supermarkets such as Walmart and Decathlon.
The scuba diving equipment market is segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America holds major share in the scuba diving equipment market. ASEAN countries such as the Philippines and Indonesia are expected to have higher growth rate due to various diving locations and growing interest for scuba diving among the people. Middle East & Africa holds least share due to lack of natural water bodies. In Asia Pacific, Australia holds major share due to presence of various water bodies.
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The major players in the scuba diving equipment market are Poseidon Diving System AB, Dive Rite, Aquatec – Duton Industry co, Aqua Lung International, Mares S.p.A, Beuchat, Cressi Sub S.p.A, H2Odyssey, and Johnson Outdoors Inc. The companies are focusing on improving production techniques through innovation and on increasing their production capacity by establishing new production plants.