Diving Equipment Market Revenue to Attain USD 7.34 Bn by 2033

09 Oct 2024

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Table of Content

1. Diving Equipment Market Revenue and Trends 2. Market Overview 3. Report Highlights of Diving Equipment 4. Diving Equipment Market Trends 5. Regional Insights 6. Diving Equipment Market Coverage 7. Market News

Diving Equipment Market Revenue and Trends

The global diving equipment market revenue surpassed USD 3.56 billion in 2023 and is predicted to attain around USD 7.34 billion by 2033 with a CAGR of 7.51% during the forecast period. The increasing demand and popularity among divers for diving and the shift towards the healthy lifestyle and outdoor play activities like swimming and diving is creating a great opportunity for the diving equipment market.

Market Overview

Diving basically is a water sport that is creating interest among many divers to explore and create new underwater scenario and these diving equipment makes the dive more comfortable and easier. There are various types of diving equipment presents that include diving cylinders, depth gauge, dry suits, breathing apparatus, scuba equipment and many more.

The rising interest among youngsters to carry out various water related sports especially scuba diving, swimming is gaining demand. Moreover, the rising tourism with expansion of the marine systems and increasing adventurous sports like deep sea diving and sport diving is also influencing the diving equipment market.

Also, the implementation of advanced AI tools in diving equipment provides better experience to the divers by offering real-time assistance, detecting the oxygen level, pressure vital signs and also guiding the divers according to the weather conditions and also integrating communication tools that help divers to identify any problem ultimately enhancing the experience for the divers.

Report Highlights of Diving Equipment

• By type insights, the exposure suit segment is expected to grow as its adoption among divers for the safety and protection purposes that helps maintain the body temperature in cold conditions and protects them from marine life. It also offers comfort diving experience driving the market for the diving equipment.
• By distribution channel insights, the specialty store segment dominated the market as it is easily available in the coastal region stores and also come in various sizes, styles, colors that enhance the experience of the divers.
• The integration of Artificial Intelligence in diving activities is observed to offer spectacular experiences for consumers. AI in scuba diving suppose a waterproof tablet with great camera built in that has an AI app which will identify the species by just pointing the camera at it and it will scroll the information and facts across the screen. It will be also beneficial for studying the feeding habits, life cycles and unique behavior of the creatures.

Diving Equipment Market Trends

Increasing demand for water activities:

• The rising awareness regarding health and fitness among the individuals encourages them to try out various water sports activities that improves their overall health conditions by improving he flexibility, reducing the stress, improving breathing capacity, heart conditions, posture that gives rise for the diving equipment market.

Advanced diving equipment tools:

• As the demand for diving equipment increases many advancements are done in the material like use of carbon nanotubes, metal foams that offers stability, strength, durability, resistance properties that makes it a better choice of option. Moreover, the integration of high-tech fins materials like titanium, carbon fiber which offers efficiency, minimizes resistance and provide better diving experience.

Advancements in technologies:

• The adoption of the smart watches that could help the divers to dive under water with navigation tools and feedback facilities improving the overall experience. Also, the use of dive computers that offer with real-time monitoring of the depth, GPS facilities, time and surrounding conditions to makes proper decisions while diving.

Regional Insights

By region North America dominated the diving equipment market in 2023 as the shift towards the underwater activities and scuba diving is gaining demand among the youngsters contributing to the market growth. The increasing tourism and availability of diving spots creates a market in the U.S. for diving equipment. North America also focuses on the environment conservation that creates awareness among the divers for the eco-friendly diving equipment.

On the other hand, the presence of multiple diving sites in the region has made the area ideal for market players to indulge their services associated with diving equipment.

• In 2022, approximately 2.7 million Americans went scuba diving at least once in a year.

Besides North America, Asia Pacific is seen to grow at a notable rate in the diving equipment market. The tourism authorities in India are seen tapping on multiple potential opportunities that can drive tourists into the country. As the country becomes a hub for tourists, especially international tourists, the requirement for diving equipment or other associated services will rise in the upcoming years.

• Agoda, a prominent travel company has stated top destinations for diving to be in Asia as of 2024. Bali in Indonesia, Thailand’s Phuket, Okinawa in Japan, Cape Maeda and Cebu in Philippines have ranked at the top in the list.

Diving Equipment Market Coverage

Market News

• In September 2024, the Diving Equipment and Marketing Association launched the new initiative named Dive Pros of Canada that highlights the stories, local trends, interest to showcase the understanding of Canada’s professional diving community.
• In November 2023, the India navy launch the DSC A 21 which is designed for specialized diving operations in harbours and coastal waters that is equipped with cutting edge diving equipment.
• In January 2024, Fourth Element had launched its enhanced and redesigned version named Arctic Undersuit range that has minimalist designs and new features and designed with comfort, utility by offering a new standard in thermal protection for divers.

Market Segmentation

By Type

• BCD And Regulators
• Cylinder and Diving Propulsion Vehicle
• Decompression Chamber
• Exposure Suit
• Accessories

By Distribution Channel

• Specialty Store
• Online
• Others

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