Global Diving Equipment Market Overview
Diving Equipment Market Size was estimated at 3.6 (USD Billion) in 2023. The Diving Equipment Market Industry is expected to grow from 3.76 (USD Billion) in 2024 to 6.70 (USD Billion) by 2032. The Diving Equipment Market CAGR (growth rate) is expected to be around 7.48% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Diving Equipment Market Trends Highlighted
The Diving Equipment Market is driven by the increasing popularity of recreational diving and the growing number of certified divers. Technological advancements in diving equipment, such as the development of rebreathers and advanced dive computers, are also contributing to market growth. The market is expected to witness significant growth in the coming years, with emerging economies expected to be key contributors to this growth.Key market drivers include the rising popularity of recreational diving, increasing disposable income in emerging markets, and the introduction of more advanced diving equipment. The growing number of diving enthusiasts and the increasing popularity of underwater photography are also contributing to market growth.Opportunities to be explored include the development of new and innovative diving equipment, the expansion of the market into emerging economies, and the development of new diving destinations. The increasing adoption of dive computers and rebreathers is also creating new opportunities for market growth.
Diving Equipment Market Drivers
Rising Popularity of Underwater Recreation and Tourism
There is a significant factor of growth and expansion in the Diving Equipment Market, and it is the growing popularity of scuba diving, snorkeling and all other underwater activities. It is expected that due to more and more importance people give to the underwater world, the Diving Equipment Market will continue to expand in the upcoming years. Respective roaring growth is a result of other factors as well; namely, the demand for underwater photography and videography is increasing.Moreover, the growing popularity of diving tourism is another reason why the Diving Equipment Market is continuously expanding. With the more and ever-growing numbers of people traveling to different countries and oceans in order to dive all the new diving equipment manufacturers receive a stable demand for their equipment. The factors mentioned above obviously posit the fact that the Diving Equipment Market Industry will experience a significant hike in demand received in the next years.
Technological Advancements and Innovation
Technology is playing a significant role in today's world. As such, the diving equipment industry is no exception and is evolving rapidly. Since the development of the first diving suit in 1715, there have been many innovations in the design and technology of diving equipment. Consequently, diving has become safer and more comfortable over time Holloway 2015. The development of new diving computers that show the diver's depth, time, as well as how much air remains has made diving much safer.Divers are able to avoid risks such as running out of air, hitting violent water at high speeds, and resurfacing too quickly. The development of new diving suits has enabled divers to dive in colder water and deeper water. The development of new, brighter diving lights has enabled divers to explore underwater caves and wrecks. The Diving Equipment Market Industry is expected to grow rapidly in the coming years due to technological changes and advancements.In addition, the growing middle class, millennials, awareness of water sports, increase in disposable income and growing internet and social media platforms.
Increasing Safety Concerns and Regulations
Improving safety concerns and increasing regulations are also driving opportunities for the increasing diving equipment market. People are continually becoming more aware of the risks of diving and demanding safer equipment. Therefore, there are new safety features on diving equipment such as anti-fog masks, computers on a diver's wrist that vibrate and give an alarm when it is time to go back, and even underwater communication. Overall, the Diving Equipment Market Industry is expected to boom over the years due to the emerging devices and technologies, increasing disposable incomes and underwater culture awareness.
Diving Equipment Market Segment Insights
Diving Equipment Market Product Type Insights
Scuba Diving Equipment This segment is projected to be the leading segment over the forecast period due to the rising popularity of the activity and the increasing number of certified divers. Snorkeling Equipment This segment has a bright outlook between 2023 and 2032, as snorkeling is becoming an increasingly cheaper alternative to scuba diving. Spearfishing Equipment Over the forecast period, this segment will grow stably, as spearfishing is a sport and hobby that is becoming increasingly popular. Freediving Equipment The freediving equipment segment is slated to grow at a moderate rate between 2023 and 2032, as freediving is being practiced more and more as a competitive sport. Underwater Photography and Videography Equipment This market will expand rapidly between 2023 and 2032 as underwater photography and videography become a popular way to document underwater experiences. Diving Equipment Market Size, By Product, 2013 – 2024 (USD Million) According to this chart, the Diving Equipment Market will be worth 6.57 billion US dollars by 2032. The scuba diving equipment segment is projected to reap the greatest gains throughout this period. The snorkeling and spearfishing equipment segments are also expected to perform well. The traction experienced by the freediving equipment segment will be only average. The underwater photography and videography equipment segment will experience the highest level of demand.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Diving Equipment Market Distribution Channel Insights
The Distribution channel segment of the Diving Equipment Market mainly acts as a link between manufacturers and end-users of the product. Key distribution channels include: Online: Online ordering platforms have highly overpowered most physical stores. This is because they are convenient, have a variety of equipment, and are cheaper. In 2023, the online channel is expected to account for about 60% of the total revenue of the Diving Equipment Market. This is because e-commerce is greatly on the rise, and access to the internet is increasing.Retail Stores: They comprise general stores and shops. Retail stores are actually the highest contributors to the customers at 60 percent. This is because customers have a chance to physically see the equipment before purchasing and even consulting the experts for assessment. Retail stores attract various types of customers, which include recreational divers, who dive for pleasure, and professional divers, who dive for search and rescue of bodies or even objects, amongst many other purposes. Dive Shops: Dive shops, which contribute about 50% of the customers, mostly cater to divers.They are run by divers or people who have experienced the dive. Buyers receive proper advice and attentive service because the attendants take time to assess the customers. Products sold are diving-related, and technical staff is provided to help where necessary. Specialty Sports Stores: These shops also sell other sporting items and, therefore, a variety of diving items is sold with all the items. They are viewed as convenient and will account for 40% of sales in 2025. Rental Centers: They offer diving equipment for rent. About 20% of the customers do not possess the items and find them cheaper and convenient. About 5% of the customers can also be tourists.
Diving Equipment Market Application Insights
The Diving Equipment Market segmentation by Application is categorized into Recreational Diving, Commercial Diving, Technical Diving, Military Diving, and Scientific Diving. Among these, Recreational Diving holds the largest market share due to the increasing popularity of recreational diving as a leisure activity. The growing number of certified divers and the expansion of diving tourism contribute to the growth of this segment. Commercial diving, which involves underwater construction, maintenance, and inspection, is another significant segment with a substantial market share.Technical Diving, Military Diving, and Scientific Diving also hold notable market shares and are expected to grow in the future due to advancements in diving technology and specialized applications.
Diving Equipment Market End User Insights
The end-user segment of the Diving Equipment Market is expected to grow significantly over the forecast period. Individuals represent the largest segment, accounting for a 45% share of the market in 2023. This is due to the increasing popularity of recreational diving as a leisure activity. Dive operators and dive clubs are also expected to drive growth as they provide diving services to individuals and groups. Government agencies and academic institutions are expected to contribute to the market growth as they use diving equipment for scientific research and exploration.The Diving Equipment Market is segmented by end-users into individuals, dive operators, dive clubs, government agencies, and academic institutions. Individuals are the largest end-user segment, accounting for USD 1.62 billion in 2023 and are expected to register a CAGR of 7.2% to reach USD 2.89 billion by 2032. Dive operators are the second-largest end-user segment, accounting for USD 1.08 billion in 2023 and are expected to register a CAGR of 6.7% to reach USD 1.91 billion by 2032. Dive clubs are the third-largest end-user segment, accounting for USD 540 million in 2023 and are expected to register a CAGR of 6.5% to reach USD 957 million by 2032.Government agencies are the fourth-largest end-user segment, accounting for USD 270 million in 2023 and are expected to register a CAGR of 6.3% to reach USD 476 million by 2032. Academic institutions are the fifth-largest end-user segment, accounting for USD 198 million in 2023 and are expected to register a CAGR of 6.1% to reach USD 349 million by 2032.
Diving Equipment Market Regional Insights
The regional landscape of the Diving Equipment Market exhibits significant variations in market size, growth rates, and competitive dynamics. North America, Europe, and APAC collectively account for a dominant share of the global market, driven by factors such as high disposable income, increasing participation in water sports and recreational activities, and the presence of established diving equipment manufacturers. North America is expected to maintain its leading position in the coming years, owing to the strong presence of diving enthusiasts and well-developed tourism infrastructure.Europe is another key market, with a large number of diving sites and a growing number of recreational divers. The APAC region is projected to witness the fastest growth over the forecast period, fueled by rising disposable income and increasing awareness about diving as a recreational activity. South America and MEA represent emerging markets with untapped potential, offering growth opportunities for diving equipment manufacturers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Diving Equipment Market Key Players And Competitive Insights
Research and development is being done by major players in the Diving Equipment Market industry to come up with more advanced and innovative products to serve the increasing needs of the divers. Primarily, prominent Diving Equipment Market players aim at developing equipment that increases safety, performance, and comfort during diving exploits. In addition, the industry has recorded partnerships and collaborations with prominent players in a move to consolidate their market position and expand the products' range. Other approaches, including mergers and acquisitions, have been utilized to gain a competitive advantage and form a conducive market share. Also, the existence of the established players and the emerging ones causes high competition, a crucial characteristic of the Diving Equipment Market industry.The Air Liquide Group owns the Aqualung, which is one of the key players in the Diving Equipment Market industry. The company manufactures a variety of diver's equipment including regenerators, buoyancy compensators, and dive computers, among other products. Notably, the company mainly focuses on producing innovative products that enhance the diver’s safety, performance, and comfort while diving. Moreover, the resultant products are reliable, extensively operating and of high quality. Lastly, the company is usually committed to developing diverse training programs. This is in conjunction with other organizations and institutions supervising diving experiences and skills imparting to acquire further knowledge in training and diving purposes.Lastly, Johnson Outdoors owns Scubapro producing the best rinsing regulators, buoyancy compensators, and dive computers. The equipment manufactured is highly durable, comfortable and innovative. Furthermore, the company has put in place various training and workshops for their customers. Additionally, the firm has a well-built distribution network in use in providing for the ends of technical and recreational divers.
Key Companies in the Diving Equipment Market Include
- Northern Diver
- ScubaPron
- Hollis
- IST
- Kirby Morgan Dive Systems
- Apeks
- Dive Rite International
- OMS
- Aqualung
- Mares
- Poseidon
- DUI
- Tecli
- Sherwood
Diving Equipment Market Industry Developments
The Diving Equipment Market is projected to reach USD 6.57 billion by 2032, exhibiting a CAGR of 6.9% from 2024 to 2032. Rising participation in recreational diving and increasing demand for underwater exploration and photography are driving market growth. Technological advancements, such as the development of rebreathers and underwater scooters, are also contributing to market expansion.Recent developments include the launch of the Hollis Prism2 rebreather, which offers improved performance and user-friendliness. Additionally, Mares has introduced the Quad Air integrated dive computer, which provides divers with real-time data on depth, dive time, and air consumption. These innovations are expected to drive market growth in the coming years further.
Diving Equipment Market Segmentation Insight
Diving Equipment Market Product Type Outlook
- Scuba Diving Equipment
- Snorkeling Equipment
- Spearfishing Equipment
- Freediving Equipment
- Underwater Photography and Videography Equipment
Diving Equipment Market Distribution Channel Outlook
- Online
- Retail Stores
- Dive Shops
- Specialty Sports Stores
- Rental Centers
Diving Equipment Market Application Outlook
- Recreational Diving
- Commercial Diving
- Technical Diving
- Military Diving
- Scientific Diving
Diving Equipment Market End User Outlook
- Individuals
- Dive Operators
- Dive Clubs
- Government Agencies
- Academic Institutions
Diving Equipment Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2023 |
3.6(USD Billion) |
| Market Size 2024 |
3.76(USD Billion) |
| Market Size 2032 |
6.70(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.48% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Northern Diver, Scuba Ron, Hollis, IST, Kirby Morgan Dive Systems, Apeks, Dive Rite International, OMS, Aqualung, Mares, Poseidon, DUI, Tecli, Sherwood |
| Segments Covered |
Product Type, Distribution Channel, Application, End User, Regional |
| Key Market Opportunities |
Increased Recreational Diving Participation Technological Advancements in Diving Gear Growing Popularity of Underwater Tourism Demand for Commercial Diving Applications Expansion into Emerging Markets |
| Key Market Dynamics |
Rising popularity of recreational diving Technological advancements in diving equipment Increasing safety concerns among divers Growing demand for technical diving equipment Expanding tourism industry in coastal areas |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Diving Equipment Market size was valued at 3.76 billion U.S. dollars in 2024 and is projected to reach 6.70 billion U.S. dollars by 2032, exhibiting a CAGR of 7.48% during the forecast period (2024-2032).
North America is expected to dominate the Diving Equipment Market throughout the forecast period. The region's market dominance can be attributed to the presence of a large number of diving enthusiasts and well-established diving infrastructure.
The growing popularity of recreational diving, increasing disposable income, and technological advancements in diving equipment are some of the key factors driving the growth of the Diving Equipment Market.
The recreational diving segment is expected to hold the largest share of the Diving Equipment Market throughout the forecast period. The growth of this segment can be attributed to the increasing popularity of diving as a recreational activity.
Some of the key competitors in the Diving Equipment Market include Aqualung, Mares, Scubapro, Tusa, and Cressi-Sub.
The Diving Equipment Market is expected to exhibit a CAGR of 7.48% during the forecast period (2024-2032).
Some of the challenges faced by the Diving Equipment Market include stringent regulations, environmental concerns, and the high cost of diving equipment.
The growing popularity of diving tourism, increasing disposable income, and technological advancements in diving equipment are some of the opportunities for growth in the Diving Equipment Market.
Some of the key trends in the Diving Equipment Market include the increasing adoption of lightweight and compact diving equipment, the growing popularity of underwater photography and videography, and the development of innovative diving technologies.
The COVID-19 pandemic had a significant impact on the Diving Equipment Market, leading to a decline in sales due to travel restrictions and the closure of diving centers. However, the market is expected to recover in the post-pandemic period as travel restrictions ease and diving activities resume.
