Diving Compressors Market
Segmentation By Product Type (Mobile, Compact, Stationary and Silent type); By Application (Fishing, Rescue, Sports and Others) & By Region - Global Demand Analysis & Opportunity Outlook 2027
Buy Now
Segmentation By Product Type (Mobile, Compact, Stationary and Silent type); By Application (Fishing, Rescue, Sports and Others) & By Region - Global Demand Analysis & Opportunity Outlook 2027
Buy Now
Rise in Water Sports Activity
There has been a rapid increase in the number of people taking up water sports activities due to increase in demand of domestic as well international tourist for water sports such as scuba diving, underwater photography. Many of the coastal areas have water sports facilities with adequate resources to entertain the tourist. Along with the increase in number of divers, there has been an increase in the demand for efficient diving equipment inclusive of diving compressors in order to support comfortable breathing while under water. Such factors are resulting in an increase in the demand for efficient diving compressors over the forecast period.
Technological Advancement in Diving Compressors
The market is expected witness a rising adoption of innovative technologies over the forecast years such as ORB re-breathers which can filter the oxygen from surrounding water and enable divers to communicate with each other over Bluetooth. There is however a requirement for further research & development to provide better awareness and education regarding the safe operation and associated limitations of high-pressure breathing air compressors. Manufactures of diving compressors are focusing on new technology development associated with compressors to ease the difficulties during refilling of gas in tank while under water. Invention of automatic compressors which fill the tank automatically according to requirement of gas in tank are technologically advanced and enhance the efficiency of compressors. Such factors are expected to drive the demand for diving compressors over the forecast period.
Restraints
High Cost
High cost of diving compressors and training course associated with underwater activity is expected to dampen the market in near future. Additionally, occurrence of fatal accidents during the underwater sports is expected to further hinder the market growth.
The global diving compressor market is anticipated to record a CAGR of 4.6% over the forecast period i.e. 2019-2027. The market is segmented on the basis of product type into Mobile and Stationary compressors. The market is also segmented by application into fishing, rescue, sports and others, out of which, sports segment is expected to capture the leading market share on the back of increasing involvement of people towards scuba diving and other under water sports activity. Additionally, the technological advancement in diving compressors is expected to increase over the forecast period as it offers ease of operation for divers to fill the gas tank inside the water. Further, due to increasing number of people taking up underwater photography and deep sea diving is resulting in an increasing demand for diving compressors. Similarly ad increasing number of people are taking up underwater sports activities, there has been an increase in demand for all necessary equipment to enable comfortable breathing. These are the factors which boost the market over the forecast period (2019-2027).
Get more information on this report: Download Sample PDF
Our-in depth analysis of the global diving compressors market includes the following segments:
By Product Type
Fishing
By Region
On the basis of regional analysis, the diving compressors market is segmented into five major regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North America is expected to display a significant growth on the back of abundance of water bodies and increasing number of scuba diving enthusiasts. Further, the Europe market for diving compressors is anticipated to induce a growth with the increasing trend in water sports activity.
The market in Asia Pacific is estimated to face an accelerated demand over the forecast period on account of innovation in new technology in compressors and participation of people towards water activities. Also, due to increasing influx of tourists to the tropical areas, there has been an increase in demand for under water sports in these areas.
The global diving compressors market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Submit Your Request For Proposal (RFP)
