Global Scuba Diving Equipment Market Witnessing Steady Growth

2014-03-07
Published : Mar-2014

With increased interest in scuba diving as a recreational activity, the market for scuba diving equipment has witnessed steady increase in the last couple of years. Rise in tourism and the steadily recovering economy are some of the major factors which are fueling the growth in the industry. Increase in disposable income in both developing and developed countries is also contributing to the growth in the market. From 2014 to 2018, the global scuba diving equipment market is expected to grow at a compound annual growth rate of 3.68 percent. Due to the presence of a number of large vendors as well as increased interest in diving, the US is the leading market for scuba diving equipment. In recent years, there has been an increase demand for scuba diving equipments from Latin American countries such as Mexico and Brazil.

Scuba diving has become a popular recreational activity, particularly in tropical and sub-tropical parts of the world. Recently, resort-based tourism has become big business. Some of these resorts cater to adventurist and adrenaline junkies who are interested in marine activities and scuba diving. As scuba diving is becoming an inherent part of recreational activities in various tourist locations it is in turn propelling the growth of the scuba diving equipment market. Key vendors in the global scuba diving equipment market are American Underwater Products Inc., Sherwood Scuba LLC, Johnson Outdoors Inc., Watermark Scuba Inc., Huish Outdoors LLC, Aqualung International S.A., Mares S.p.A. and Body Glove International LLC. Manufacturers of scuba diving equipment have come up with a number of innovative products and scuba diving accessories. This has in turn increased consumers interest in scuba diving contributing to the growth in the market.

The demand for advanced diving equipment that helps in deeper diving, carrying more equipment or staying underwater for longer duration is increasing as large number of divers transition from beginners to seasoned recreational divers. To address the changing requirements and needs of divers, manufacturers are coming up with innovative products that are lightweight and sophisticated. With the development of high-tech scuba diving gear and greater interest in the sport, the market for scuba diving equipment is predicted to grow in the future.

Explore the latest market research report on global scuba diving equipment market @ http://www.sandlerresearch.org/global-scuba-diving-equipment-market-2014-2018.html

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