The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Diving Equipment Market.

It was estimated prior to this unanticipated outbreak that the Diving Equipment Market will grow at 5.2% CAGR. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

For a more detailed breakdown of the COVID-19 impact on the Diving Equipment Market, request a free sample of the report here: https://www.stratviewresearch.com/Request-Sample/727/diving-equipment-market.html

Diving Equipment Market Segment Analysis:

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. 

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.

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.

Some of the major players in the diving equipment market are Apollo Military, Atlantis Dive, Aqua Lung International, Cobham PLC, Divex Ltd., Drägerwerk AG & Co. KGAA, Henderson Aquatics, Honeywell International, Inc., Submarine Manufacturing & Products Ltd, Underwater Kinetics.

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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:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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