Diving Suit Market To Hit Value 1.0 Million By 2025 |Grand View Research, Inc

Posted by Mrudula Anil Karmarkar on November 1st, 2021

The global diving suit market size is expected to reach USD 721.0 million by 2025, expanding at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising number of individuals participating in watersports across the globe is anticipated to propel market growth over the forecast period. Continuous innovations in material technology by market players have resulted in increased customer inclination toward the product.

The advent and adoption of polytherm tri-laminate material and no-stitch technology in diving gear is expected to offer numerous opportunities for industry players. It will support companies to differentiate their product offering and provide better diving experience. Such innovations are anticipated to encourage consumers to replace their existing suits with improved versions. Increasing adoption of atmospheric suits for deep sea exploration is another trend that is gradually gaining prominence among consumers looking for a recreational dive. Additionally, such suits are gaining prominence across various end-use industries including oil and gas, military, and navy.

The trend of women participation in diving has been on a continuous rise over the past decade. Women are actively participating in almost every area where diving is required, including military and naval forces. Manufacturers are focusing on development of user-friendly and lightweight water sports wear, in order to enhance women’s preference toward their products. Such developments, coupled with rising female participation in water sports, have led market players to develop diving suits exclusively for women. It will thereby expand their product portfolio for the masses.

Growing number of people engaging in recreational activities globally is expected to drive demand for diving suits over the forecast period. These suits are gaining immense popularity owing to their diversified applications in sea rescue and other commercial operations. The market has been witnessing continuous product developments and innovations in material technology over the last few years. Manufacturers are investing in R&D in order to enhance the overall consumer experience. Rising adoption of modern materials and technologies, including polytherm tri-laminate material and no-stitch technology, is expected to impel market growth. Advent of modern-day diving suits is driving demand among consumers.

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Growing interest in watersports is one of the prominent factors driving the market. Snorkeling and scuba diving are becoming an integral part of recreational activities, particularly among adventure and soft sports enthusiasts. Many government bodies worldwide are promoting watersports in their regions to increase tourism revenue. Such promotional campaigns run by various tour operators and governments are expected to augment market growth over the forecast period.

Further key findings from the report suggest:

• Rise in the number of scuba divers in the U.S. is anticipated to drive diving suit market growth in North America
• Key manufacturers worldwide are focusing on development of superior suits that facilitate deep under-water explorations, without impacting the physiology of underwater living organisms
• Asia Pacific is anticipated to emerge as a lucrative market over the coming years primarily due to rising participation in recreational water sports, coupled with considerable increase in diving tourism, especially in Southeast Asian countries
• Demand in Middle East and Africa is expected to witness considerable growth over the next few years as the region encompasses a large number of diving sites, particularly in coastal regions with warmer seas.

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. New product development is among the key strategies implemented by these companies to overcome intense competition. In February 2018, SCUBAPRO introduced its new cold water collection of diving dry suits in order to expand its product line. In 2017, Sheico Group launched eco-friendly wet suits, embedded with green technologies for diversifying its offerings.

In addition, players in the global market are focusing on making considerable investments in R&D for developing superior as well as low-cost products to gain a competitive edge. These growing R&D initiatives are expected to help them expand their market presence in the coming years. Additionally, they are offering various suits ranging from thickness of 2mm to more than 9mm to augment their product portfolio and diversify their offerings.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.