The global diving regulator market is projected to expand at a CAGR of 3% between 2024 and 2034. By 2024, it is anticipated that the diving regulator market size is expected to be worth US$ 466 million. Forecasts indicate that by 2034, the global diving regulator market size is going to soar to US$ 624.3 million.
Evolving lifestyles and demographic changes are significantly contributing to the high demand for water sports. Rising preference for recreational water sports is fueling the growth for scuba diving equipment, this, in turn, is influencing growth in the diving regulator market.
Governments of various countries are promoting water sports to expand the potential of the tourism sector. For instance, the Facilities for Water Sports Industry (FAWI) was established in Europe to improve water sports infrastructure in the region. Similarly, countries in North America and Asia have formed regulatory bodies to promote and organize water sports.
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Leading players in the diving regulator market are focusing on expanding their product portfolio by remodeling existing products using advanced technologies. Technical advances in diving regulator has increased safety, which is a major concern in dive regulator users. With a focus on product innovation, several key players are increasingly investing in flexible and lightweight diving regulators.
Despite a balanced regulator offering consistent air flow, the demand for the unbalanced regulator is likely to witness growth in the diving regulator market in coming years. Low annual service cost and few moving parts are driving demand for the unbalanced regulator. Meanwhile, safety is the cornerstone in scuba diving with is resulting in the development of new balanced regulators combined with gauges and low pressure inflators.
Global Diving Regulator Market Outlook
Scuba diving tourism is considered as a multibillion-dollar industry that has drawn millions of tourist to explore the underwater world. As of 2017, there are more than 10000 dive operators serving more than 6 million divers around the world. Global coral reef-related tourism is one of the influential factors that has been driving tourist to get into scuba diving. Coral reef attracts foreign as well as the domestic tourist in over 100 countries and territories.
The coral reef is being estimated to be valued at US$ 36 billion by the end of 2019 owing to the rise in the number of tourists. With the rise in demand for scuba diving tourism, there has been simultaneous demand for scuba diving equipment as well. Diving Regulator which is being considered as one of the mandatory equipment for scuba diving has been on higher demand in recent years.
The diving regulator is considered as the hub of diving equipment linking many pieces of gears such as the scuba tanks to Buoyancy Control Devices (BCD), Submersible pressure gauge (SPG), Alternate Air Source and the diver.
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Global Diving Regulator Market: Reasons for Covering this Title
With the rise in the number of tourist for scuba diving, there has been demand for diving equipment as well. Diving regulators being a mandatory equipment, sights critical opportunity in scuba diving territories and countries. The primary function of the diving regulator is to decrease the high pressure under which the air in the dive tank is being stored, to a pressure at which divers are able to breathe at any depth.
These breathing apparatus that is the diving regulator and tank are considered as the only means of breathing for the divers. There are basically two types of diving regulators i.e. unbalanced diving regulators and balanced diving regulators.
Global Diving Regulator Market: Key Players
Some of the key players operating in the global Diving Regulator market are Aqua Lung International, Apeks Diving, Oceanic Worldwide, Atomic Aquatics Europe GmbH, Midland Diving Equipment Ltd, Johnson Outdoors Inc. among others.
Diving Regulator Market: Key Trends
The major shareholding companies in the Diving Regulator market have been strategizing extending its product portfolio by adopting latest technologies into its existing products.
Diving Regulator Market: Key Developments
- In 2017, Oceanic Worldwide launched a newly designed and updated version of the Alpha 10 Regulator featuring patented pneumatically balanced second stage valve, which reduces resistance for effortless breathing.
- In 2016, Technodinamika Holding launched a line of diving regulators under its own company brand. The line-up consists of five regulators, each tailored for a particular customer segment, from beginners to technical divers and professionals operating in adverse conditions.
Opportunities for Diving Regulator Market Participants
Countries such as Malaysia, United States, Australia, Egypt, Belize, Thailand, and Indonesia have some of the world famous scuba diving destination. Taking this factor into account, the global diving regulator sights a critical opportunity in North America and Asia Pacific regions to grow in terms of value sales.
Moreover, combat army divers have been into scuba diving for covet operation since decades. As a result, owing to the fact that diving regulator being a necessary equipment in scuba diving, provides an immense opportunity for global diving regulator market to generate sales through the military segment.
Brief Approach to Research for Diving Regulator Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Diving Regulator market sizes.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Japan
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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