Pune, India -- (SBWIRE) -- 08/24/2016 -- The diving equipment market is expected to grow from USD 2.72 Billion in 2016 to USD 3.21 Billion by 2021, at a CAGR of 4.05% from 2016 to 2021. The objective of this study is to analyze, define, describe, and forecast the diving equipment market on the basis of type, application, depth, end-user, and geography. 2015 was considered as the base year and 2016 to 2021 was considered as the forecast period for this market study.

Browse 100 market data Tables and 47 Figures spread through 143 Pages and in-depth TOC on "Diving Equipment Market- Global Forecast to 2021"

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The diving equipment market is expected to grow from USD 2.72 billion in 2016 to USD 3.21 billion by 2021, at a CAGR of 4.05% from 2016 to 2021. The diving equipment market is predominantly driven by the increasing number of underwater projects, exploration of oil rigs, underwater construction, and recreational activities, among others.

The rise in demand for rebreathers, decompression champers, exposure suits, and accessories in the diving equipment market; growing need for search and rescue operations; and huge investments for technological advancements of defense operations are playing a significant role in fueling the demand of diving equipment significantly around the world.

More Information of Diving Equipment Market

"On the basis of type, the exposure suits segment of the diving equipment market is projected to grow at the highest CAGR during the forecast period"

The exposure suits segment of the diving market is expected to grow at the highest CAGR during the forecast period. There are two types of exposure suits, namely, wet suits and dry suits. The highest growth rate for dry suit can be attributed to its longer durability and shelf life. It has healthy growth opportunities in the coming 5 years, since the materials used for making the equipment are lightweight which make dives comfortable.

Rebreather segment is projected to lead the diving equipment market during the forecast period.

The rebreather segment leads the diving equipment market, and is expected to continue to lead over the next five years. This growth can be attributed to the need for underwater missions and special operations by the military, as well as for saturation diving. Rebreather is also required in platforms where the diver is needed to go below 50 meters depth underwater. It is majorly used in the military application and in some case in recreational diving as well.

The commercial diving is expected to be the fastest-growing segment during the forecast period.

On the basis of application, the diving equipment market has been segmented into civil, commercial, and defense. The commercial diving segment is expected to lead the diving equipment market. This growth can be mainly attributed to the increasing demand for divers in the oil & gas industry globally. The oil & gas rigs expansion projects and search for new refineries require skilled or professional divers for underwater tasks.

"North American region holds a large market share in the diving equipment market"

On the basis of region, North America is expected to lead the diving equipment market. Countries in this region include the U.S. and Canada. North America diving equipment market is mainly driven by the large number of original component manufacturers (OCMs) and original equipment manufacturers (OEMs), major technological upgradation for existing equipment by the key players, presence of key market players, such as Honeywell (U.S.) and Cobham plc. (U.K.). Additionally, huge investments by the U.S. Navy for the defense rebreather coupled with other major equipment are also fueling the growth of the diving equipment market.

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