Global Diving Suit Market By Price Bracket (Less than $199, $200-$399, $400-$599, $600-$800, and Above $800), By Type (Drysuit and Wetsuit), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Diving Suit Market Overview

In 2021, the global diving suit market was worth USD 573.43 million. This is a 4.8% compound annual growth rate.

There were 1.3 million units sold that year. Over the forecast period, divers will see a rise in demand because of increased recreational activities. They are becoming increasingly popular due to their many applications in commercial and rescue operations.

Global Diving Suit Market

Price Bracket Analysis

The price range of the diving suit market is used to segment it into the following segments: Less than $199, $200-$399, and $400-$599, plus $600-$800 and more than $800. In terms both of revenue and demand, the segment worth more than $800 will show the highest CAGR. This segment includes dry suits that are made of tough and durable material, which provide thermal insulation to the diver.

Suits priced between $200-$399 were in high demand in 2021, and this trend is expected to continue for the forecast period. This price range typically includes medium to low-priced diving suits, which is increasingly being used in recreational and commercial activities. It is expected that the price bracket between $600-$800 will experience significant growth between 2023-2032. The demand for dry suits that are cost-effective and affordable is expected to increase with the increased recreational diving activity in colder regions.

Type Analysis

According to type, the global diving suit market can be segmented into wetsuits and drysuits. The market share of wet suits is the largest, but the segment for dry suits is projected to grow at the highest rate during the analysis period. A dry suit prevents water from entering the suit and keeps the body dry. Drysuits are made from crushed neoprene and foam neoprene. They can also be made with vulcanized or heavy-duty nylon.

Key Market Segments

Price Bracket

• Less than $199
• $200-$399
• $400-$599
• $600-$800
• Above $800

Type

• Drysuit
• Wetsuit

Market Dynamics

In the last few years, there have been continuous product innovations and improvements in material technology. In order to improve the consumer experience, manufacturers invest in R&D. Market growth will be driven by the increasing use of modern materials and technology such as no-stitch and polytheism trilaminate. Modern-day diving suits are driving consumer demand.

The market is driven by growing interest and demand for watersports. The growing popularity of scuba diving and snorkeling is a major part of recreational activities, especially for adventure and soft-sports enthusiasts. Worldwide, there are many government agencies that promote watersports to increase tourist revenue. Market growth is expected to be boosted by such promotional campaigns, which are run by different tour operators and governments.

In the last few years, women’s diving gear has seen a substantial increase in demand. Product sales have increased because of the growing number of women participating in watersports within emerging economies in the Asia Pacific. Modern diving equipment has evolved to be lightweight and more user-friendly, increasing women’s enthusiasm for the sport. This will lead to market growth in the future.

The rise of urbanization worldwide and the financial boost to household income have allowed people to increase their spending on luxury goods and services, which presents significant opportunities for industry growth. Consumer awareness about the dangers of using plastic is increasing, which has led to increased demand for eco-friendly diving gear. This will continue to drive the market for the forecast period.

Diving suits should be thick enough to withstand the extremes of water temperature. They provide protection and insulation, so the suit’s thickness will vary. Drysuits are designed to be used in cold water temperatures below 60 degrees Fahrenheit. These suits are useful in situations when the diver must dive for an extended period of time. Due to their water resistance, these suits have been in high demand for the last few years.

Regional Analysis

North America is the biggest consumer of diving equipment, particularly wetsuits as well as drysuits. It had a market share exceeding 39%. In 2021, the region was the top market for both revenue and demand. Regional growth will be driven by the significant presence of regional manufacturers, such as Cressi-sub and Dive-Rite.

The Asia Pacific market is expected to see the most revenue growth, with a CAGR of more than 9.0% in the period 2023-2032. The market is expected to grow due to a substantial increase in tourism to diving in the region’s coastal areas. Watersports participation has increased significantly in Southeast Asian countries like Vietnam and Indonesia. This has led to a significant increase in demand for diving gear in the region.

In 2018, more than 321,000 units of diving suits were sold in the Middle East, and Africa. Because of the many diving sites throughout the region, particularly in Egypt and South Africa, there is a substantial increase in regional demand. Over the past few decades, tourists have increased at several South African locations, such as 7 Mile Reef and Protea Banks. Watersports have been growing in popularity throughout the region.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

To overcome fierce competition, key companies employ a variety of strategies including new product development. SCUBAPRO launched its cold water collection of dive drysuits in February 2018 to expand its product range. Sheico Group released eco-friendly, green-technology wetsuits to diversify its product line in 2017.

Global market players are also investing in R&D to create high-quality, low-cost products. This will give them a competitive advantage. In the next few years, they will be able to expand their market presence through these increasing R&D investments. To diversify and expand their product line, they offer various suits from 2 mm to more than 9 mm.

Key Market Players

• Aqua Lung
• Cressi
• Beuchat
• Omer America
• MARES
• Riffe International Inc.
• SALVIMAR Srl
• ROB ALLEN
• Other Key Players

For the Diving Suit Market research study, the following years have been considered to estimate the market size: