Unusual growth strategies adopted by various companies are creating new standards for competition in the global Scuba Diving Equipment market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. Industry Research offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Scuba Diving Equipment market is based on company profiles and their efforts on increasing product value and production.
– For instance, in January 2018, the Professional Association of Diving Instructors launched the PADI Travel business aiming to boost growth in the dive industry and to keep divers more engaged and active.<
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Key Market Trends:
Increasing Popularity of Diving Destinations
– The Red Sea is one of the most attractive places for diving. Its increasing popularity has been providing the closest access to clear tropical waters for many European tourists.
– Historically, a majority of the diving activity takes places in Egypt, which has a large portion of the coastline, including some of the finest dive spots, such as Ras Muhammed, the Straits of Tiran, and the famous Thistlegorm wreck, a British armed Merchant Navy ship initially discovered by French oceanographer Jacques Yves Cousteau.
– At the turn of the millennium, the Egyptian government became more focused on diving tourism. It then observed that the overall number of visitors was increasing and would reach nearly 15 million a year by 2010.
– The government realized that tourists were not just visiting historical sites, such as the pyramids of Giza and Luxor, but were also interested in the Red Sea. Also, many tourists were non-divers initially who then, learned to dive in Egypt.
– However, there was a massive inrush of dedicated and certified divers to Egypt due to its unique marine environment.
– The Egyptian government appointed a new group to oversee the diving standards in the country, called the Egyptian Chamber of Diving and Watersports (CDWS).
– The CDWS was instructed to use ISO 24803 as the benchmark for dive center operations. Every dive center in the country was to be inspected and compared to this standard, in order to be allowed to operate legally. This was a major undertaking, as there were only about 250 centers at that time.
Rebreathers Becoming Commonplace at Dive Resorts
– Rebreathers have become commonplace at dive resorts and on live-aboard vessels. They were strictly used for military purposes and were not completely available to mainstream divers until very recently.
– The rebreathers that were released by companies in the past were far less developed than the ones available currently.
– An example is the USD 2,800 Fieno-S semi-closed rebreather for recreational divers launched by the Japan-based company, Grand Bleu Inc., in 1995. Over the years rebreathers have certainly become more expensive, as more improvements were made in them.
– In 2010, KISS introduced a lightweight GEM rebreather with an innovative mouthpiece that vents one-third of a breath. Rebreathers started to become mainstream when PADI launched its recreational rebreather course in 2011.
– One of the lower priced rebreather models available in the market is the KISS Orca Spirit, which has a barebones option that allows divers to purchase a diving system without mouthpiece, displays, and computers.
Most of the companies present in the market are efficient at the technological front, but require significant support for enhancing their services and expanding their businesses. Thus, mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.
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Scuba Diving Equipment Market Covers Following Points in TOC:
Chapter 1: Scuba Diving Equipment Market Definition
Chapter 2: Research Methodology of Scuba Diving Equipment Market
Chapter 3: Scuba Diving Equipment Market Executive Summary
Chapter 4: Scuba Diving Equipment Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
Chapter 6: Scuba Diving Equipment Market Segmentation by Types, End-User, and Applications Forecast to 2024
Chapter 7: Scuba Diving Equipment Market Segmentation by Geographical Regions
Chapter 8: Competitive Landscape of Scuba Diving Equipment Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
Chapter 9: Key Players for Scuba Diving Equipment Market
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