Portland, OR, March 03, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global diving suits market was estimated at $419.2 million in 2018 and is expected to hit $623.7 million by 2026, registering a CAGR of 5.2% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
Expansion of construction and maintenance industry to augment market growth, and emergence of recreational sports activities to create demand for diving suits drive the growth of the global diving suits market. On the other hand, rise in deep sea diving accidents and high costs involved in designing the costumes curtail down the growth to some extent. Nevertheless, high-end innovation in technology and expanding costal tourism to provide remunerative opportunities for diving suits manufacturers
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The wetsuit segment to lead the trail by 2026-
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.
The mid-range segment to maintain its dominance during 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.
North America generated the highest share in 2018-
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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Key players in the industry-
Key market players analyzed in the market report include H2Odyssey, SHEICO Group, Johnson Outdoors Inc., Duton Industry Co. Ltd., Mares S.p.A, Diving Unlimited International (DUI), Beuchat, Dive Rite, Cressi Sub s.p.a, Aquatec, and Aqua Lung International. These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to brace up their stand in the industry.
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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.
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.