8:35 AM Diving Equipment Market Size to experience an impressive growth of 5.2% |
Diving Equipment Market is likely to witness an impressive CAGR of 5.2% during the forecast period. Increase in the average income of the people, especially in emerging economies, such as India and Vietnam coupled with the dive tourism, majorly in the European region, is the prime factor underpinning the growth of the global diving equipment market. Click here to get a Free Sample of the report (with additional insights): https://www.stratviewresearch.com/Request-Sample/727/diving-equipment-market.html Or https://www.stratviewresearch.com/727/diving-equipment-market.html
By Type: Based on the type, the market is segmented as rebreather, cylinders and propulsion vehicle, exposure suit, decompression chamber, and accessories. The rebreather segment dominated the market in 2018, and is expected to continue its dominance during the forecast period. This growth is owing to the extensive usage of this equipment in two major application areas, namely, commercial and defense; and the fact that it can deliver air under high pressure underwater. Further, the exposure suit segment is estimated to command the market in the coming five years, driven by the need for changing these suits recurrently as these suits bear short life cycle. Moreover, damages caused by severe environments underwater also give way to frequent replacement of these suits. By End-User Type: Based on the end-user type, the market is segmented as oil & gas, naval, aquaculture, and others. The oil & gas industry is estimated to lead the market during the forecast period. In addition, it is expected to account for the largest share, owing to the expansion of oil rigs and search for new refineries, which call for skilled divers for challenging underwater tasks. By Region: In terms of regions, North America held the largest market share of the diving equipment market in 2018, followed by Asia-Pacific. As diving activity is being carried out in the European region since the early 1900’s, the region’s market is mature for diving equipment. However, on the flip side, the growth of the diving equipment market in North America and Europe is estimated to be considerably low in the coming five years, driven by the decreased demand for diving equipment in these regions. While on the other hand, the Asia-Pacific’s diving equipment market is estimated to register the highest growth rate during the forecast period. This growth is due to the major expansion of oilfields in Australia and China, and opulent underwater marine life for exploration, coupled with expected government-funded research and development activities. Click below to run through the detailed ToC of the report: https://www.stratviewresearch.com/toc/727/diving-equipment-market.html Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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