Market Overview:
Recreational diving equipment refers to various gears and accessories used by recreational divers for underwater activities and adventures. The equipment includes wetsuits, masks, fins, snorkels, regulators, and tanks that offer thermal insulation, vision, mobility, breathing apparatus, and buoyancy to divers. These products enable divers to explore underwater environments safely and comfortably.
Market key trends:
One of the key trends driving growth in the recreational diving equipment market is the rising popularity of underwater sports and activities. Scuba diving and snorkeling are gaining traction among millennials and generation Z as exciting water adventure sports. The availability of attractive dive spots globally and the desire to experience aquatic wildlife up close is fueling participation in recreational diving. Manufacturers are launching innovative gear such as integrated dive computers, masks with customizable lenses, and fins optimized for different environments to enhance the diving experience. Ongoing development of eco-friendly and sustainable materials for wetsuits and other equipment is another emerging trend gaining prominence in the market.
Segment Analysis
The recreational oxygen equipment market is segmented based on product type, end use, and region. Based on product type, the portable oxygen concentrators segment is expected to dominate the market during the forecast period. Portable oxygen concentrators are majorly preferred as they are lightweight, easy to carry, and allow flexibility of use for patients.
Key Takeaways
The global Recreational Oxygen Equipment Market size is expected to reach US$ 8.14 Billion By 2030, exhibiting a CAGR of 16.7% over the forecast period. Increasing cases of COPD, asthma, and other respiratory disorders globally are expected to drive the demand for recreational oxygen equipment.
Regional Analysis
North America currently dominates the recreational oxygen equipment market and is expected to continue its dominance over the forecast period. High awareness regarding health benefits of supplemental oxygen along with the presence of major market players in countries like the US and Canada are some key factors contributing to the region's large market share. Asia Pacific market is expected to grow at the fastest rate owing to rising geriatric population, improving healthcare infrastructure, and increasing spending power.
Key Players
Key players operating in the recreational oxygen equipment market are Boost Oxygen, LLC, CAIRE Inc. (AirSep), Chart Industries, DeVilbiss Healthcare LLC, Inogen, Inc., Oxygen Plus, Inc., Pure O2 Ltd, Invacare Corporation, Oxyzens, Philips Healthcare, Zadro Health Solutions, and 2ND Wind Oxygen Bars. Among these, Inogen, Philips, and Invacare Corporation hold major market shares.
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