Diving equipment comprises equipment that are used to make underwater activities easier, safer, and comfortable. It includes rebreather apparatus (open, semi-closed, and closed), visual display, scuba cylinders, valves & manifolds regulators, suits (wet and dry), masks, submersible pressure gauges & consoles, helmets, and accessories, among others. It is used for underwater construction, search and rescue, surveying, recreational activities (snorkeling, scuba diving), filming, and photography. The market for diving equipment is directly related to the number of divers in each country and region, respectively. The global 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% during the forecast period 2016 to 2021. Upcoming underwater projects for recreational activities and increasing marine aquaculture across the world are driving the growth of the diving equipment market.
Key players operational in the diving equipment market include Cobham plc (U.K.), Drägerwerk AG & Co. KGaA (Germany), Divex Ltd. (U.K.), among others. New product launches is the key strategy adopted by industry players operational in the diving equipment market. Market players are focusing on entering new markets by launching technologically-advanced and cost-effective products. Their core competencies include increasing geographical presence and investment in smaller local companies for R&D activities in growing regions, such as Asia-Pacific and the Middle East.
Cobham Plc (U.K.)., Divex Ltd (U.K.), Dragerwerk Ag & Co. KGaA (Germany), and Submarine Manufacturing & Products Ltd. (U.K.) are the top companies operational in the diving equipment market globally. Among these, Dragerwerk Ag & Co. KGaA has widespread geographical reach.
Divex Ltd. (U.K) is a leading supplier of diving equipment to the offshore oil industry and other sectors. The company focuses on designing, assembling, and distributing a broad range of diving products for commercial and military customers. Its key competencies include military and commercial diving equipment products.
In 2016, Divex received a 25-year contract from the Indian Navy worth USD 209.6 million for all logistics and support equipment required to operate the submarine rescue services. This contract is expected to help the company in securing a stable position in the diving equipment market against its competitors.
Dragerwerk Ag & Co. KGaA (Germany) is another leading manufacturer of diving equipment. It aims at expanding its global presence and broadening its focus towards delivery of capabilities, products, and services into the global diving equipment market. The company is operating in more than 190 countries including Germany, the U.K., Sweden, South Africa, U.S., Brazil, Czech Republic, and China, among others. Product innovation in the field of diving equipment is the key competency of the company.
Dragerwerk entered into a partnership with Dutch shipbuilder Royal IHC (The Netherlands), in 2015, to supply fully integrated diving support vessels (DSV). This is expected to help the company to expand its distribution network and gain revenue, which will motivate it to expand its product portfolio.
Diving Equipment Market by Type (Rebreather, Exposure Suit, Decompression Chamber), Application (Commercial, Defense, Civil), End-User (Oil & Gas, Naval, Aquaculture), Depth (Recreational, Clearance, Saturation) & by Geography - Global Forecasts to 2021
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