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Scuba Diving Equipment Market Size

Report ID: GMI7519
Published Date: Nov 2023
Report Format: PDF

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Scuba Diving Equipment Market Size

Scuba Diving Equipment Market size was valued at USD 2.1 billion in 2022 and is projected to grow at a CAGR of over 5% between 2023 and 2032. The increasing disposable income globally is driving the industry progression. People are more inclined to invest in recreational activities including scuba diving. For instance, in 2021, the UK's Gross Disposable Household Income (GDHI) rose by 3.6% compared to 2020. Northern Ireland led the expansion with a 4.5% increase, followed by England (3.7%), Wales (2.8%), and Scotland (2.6%).

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The increasing government initiatives and policies aimed at fostering travel & tourism are propelling the industry. Supportive measures encourage adventure tourism including scuba diving, leading to increased demand for related gear. For instance, in July 2023, Saudi Arabia announced plans to invest USD 800 billion in its tourism sector. The Ministry of Tourism outlined extensive plans, reflecting a commitment to boost the industry. These significant investments aim at enhancing infrastructure, developing attractions, and positioning Saudi Arabia as a prominent global tourist destination. Additionally, over the years, the scuba diving equipment has witnessed a notable trend intersecting with the aqua gym equipment.

Scuba Diving Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2022
Scuba Diving Equipment Market Size in 2022:	USD 2.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 3.5 Billion
Historical Data for:	2018 – 2022
No. of Pages:	410
Tables, Charts & Figures:	730
Segments covered:	Equipment Type, Consumer Group, Price Range, Distribution Channel, End-use and Region
Growth Drivers:	Rising disposable income and surging coastal tourism Technological advancements in scuba diving equipment Increasing government initiatives and policies to develop and promote travel & tourism Rising interest in adventure sports
Pitfalls & Challenges:	Limited accessibility and awareness

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Setting up diving centers, acquiring quality gear, and ensuring safety standards compliance require substantial capital. This financial barrier may deter potential entrants and limit market accessibility. It can affect consumer participation. Overcoming this challenge may involve strategic partnerships, financing solutions, or government incentives to make the scuba diving industry more economically viable.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Scuba diving equipment industry size was USD 2.1 billion in 2022 and is projected to grow at over 5% CAGR from 2023 to 2032 due to the increasing disposable income globally.

The diving masks & goggles equipment type segment is expected to observe 5.5% CAGR during 2023-2032 owing to rising advancements in lens technology, improved comfort features, and innovative designs.

North America held over 40% share of the industry in 2022 due to the increasing participation in recreational diving, the growing awareness of underwater conservation, and the rising trend of adventure tourism

Some of the leading scuba diving equipment firms are Akona, Apeks Marine Equipment Ltd., Aqua Lung, Atomic Aquatics, Beuchat International S.A., Cressi Sub S.p.A., and Dive Rite among others.