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Diving Suits Market Size to Reach USD 623.7 Mn by 2026

Fitness - Beauty News originally published at Fitness - Beauty News

Diving Suits Market Size to Reach USD 623.7 Mn by 2026

Diving Suits Market 2019-2026

According to a new report , The global diving suits market is segmented into type, price range, sales channel and region.

Engaged stakeholders in the industry are devoting considerable time and resources to develop ecofriendly diving suit by replacing non-renewable neoprene with a plant-based polymer.”

— Shankar Bhandalkar

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 13, 2022 / — According to a new report published by Allied Market Research, titled, “Diving Suits Market by Type, Price Range, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026,”The global diving suits market size was $419.2 million in 2018, and is projected to reach $623.7 million by 2026, registering a CAGR of 5.2% from 2019 to 2026. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter’s Five Forces, and competitive scenario.

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The global travel and tourism industry have witnessed rapid surge in coastal tourism. Coastal tourism depends on a diverse resource mix at the fringe of land and ocean conditions sun, water, shorelines, and others. Global surge in coastal tourism is attributed to changes in lifestyle, increase in coastal tourism promotion, and increase in accessibility of transport facilities. Continuous development in the coastal travel & tourism industry and integration of various segments such as hospitality & infrastructure with government initiatives accelerate the growth of the global coastal travel & tourism industry. Diving is one of the most preferred activity performed by coastal tourists. Surge in coastal tourism to create remunerative opportunities for the diving suits manufacturers in the estimated forecast

The global diving suits market is segmented into type, price range, sales channel and region. Depending on type, the market is bifurcated into drysuit and wetsuit. The global diving suits market segment price range into economy, luxury and premium. Based on sales channel the global market is studied across offline channels and online channels. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA

Based on product type, the wetsuit segment accounted for nearly three-fourths of the total market share in 2018, and is projected to rule the roost by 2026. At the same time, the drysuit segment would showcase the fastest CAGR of 5.9% throughout the forecast period.

Based on price range, the mid-range segment held the major share in 2018, garnering more than two-fifths of the total market. Simultaneously, the luxury segment would cite the fastest CAGR of 6.0% during 2019–2026.

Based on region, North America contributed to nearly two-fifths of the total market revenue in 2018, and is anticipated to dominate through 2026. The LAMEA region, on the other hand, would showcase the fastest CAGR of 7.3% during the study period.

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Some of the key players in the diving suits market analysis include Aqua Lung International, Johnson Outdoors Inc., Mares S.p.A, Beuchat, Dive Rite, Cressi Sub s.p.a, H2Odyssey, Aquatec, Duton Industry Co., Ltd, SHEICO Group, Diving Unlimited International (DUI).

Key Findings of the Study:

○ North America leads in terms of diving suits market share and is expected to retain its dominance during the forecast period.
○ U.S. was the highest contributor to the North America diving suits market, with $115.1 million in 2018. The country is expected to generate revenue of $151.7 million towards the end of forecast period
○ Based on type, the wetsuit segment dominated in terms of market share in 2018, however, the drysuit segment is expected to gain high market share in the upcoming years.
○ Based on the price range, the luxury segment accounted for about one-third share of the diving suits market in 2018,and is poised to grow at the highest CAGR during the forecast period.
○ The online sales channel segment is anticipated to gain high market share in the upcoming years and is estimated to grow at a CAGR of 7.1% during the forecast period.
○ Based on region, Asia-Pacific is anticipated to grow with robust CAGR of 6.2% during the forecast period.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
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Fitness - Beauty News originally published at Fitness - Beauty News

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