The scuba gloves market is set for significant expansion, with an anticipated valuation of US$ 98.9 million by 2023. The market displays a significant trend, featuring a CAGR of 5.8%, which is expected to endure until 2033. The consistent growth forecasts indicate that the global scuba gloves market is poised to achieve an impressive valuation of US$ 173.8 million by 2033.
Rise in the trend of scuba diving, expanding new technologies, growing interest consumer’s interest for sports activities, and consumers are purchasing their wetsuits rather than wearing rental one are the factors influencing the growth of the scuba gloves market in the near future.
Over the last few years, there is a rapidly increasing popularity of water sports such as scuba diving, surfing, wakeboarding, and others. The government in various countries have also increased their focus on water sports activities to promote the potential of the tourism industry.
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Scuba diving is the main tourism market, making a billion dollar industry globally. However, it is very challenging to stay warm while diving. If a person stays for a longer period in cold water, he/she can have a risk of damage to the body. The scuba gloves will enable a diver to explore a variety of water temperature while keeping hands warm.
Thus, scuba gloves are designed to keep hands safe, warms, protected in a variety of dive conditions, enable better sensitivity in the fingers as well as hands while handling the objects underwater, and ensure a better grip. Scuba gloves have various unique features such as pre-curved fingers, rubberized grip, resistant to salt water, and high-stretch neoprene.
Scuba gloves also protect hands from external damage and offer thermal comfort, flexibility, and dexterity in water. According to the Sports and Fitness Industry Association, in 2016, there are around 6 Mn active scuba divers worldwide, wherein there are between 3.0 to 3.5 Mn active scuba divers in the US.
Reasons for Covering Scuba Gloves Market Title
Rise in the trend of scuba diving, expanding new technologies, growing interest consumer’s interest for sports activities, and consumers are purchasing their wetsuits rather than wearing rental one are the factors influencing the growth of the scuba gloves market in the near future.
Additionally, the growing demand for certified dive professionals, increasing the average age of scuba diving, and expanding dive-tourism industry is some other factors fueling the growth of the scuba gloves market during the forecast period. However, as many divers are certified every year, there is increasing pressure on the marine environment.
Also, increase in pollution from boat traffic, rising earth temperature leads to melting ice caps and rising sea levels owing to which the sea water is getting more acidic are the main factors which may hamper the scuba diving industry and directly affect the growth of scuba gloves market in the near future.
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Global Scuba Gloves Market: Key Players
Some of the key players operating in the global scuba gloves market are Aqua Lung International, Baresports Company, UTD International, Inc., Waterproof USA, Henderson Aquatics, Inc., AKONA, and others.
Rapidly growing in the number of scuba diving certifications worldwide, an increase in demand for scuba diving equipment’s which is attributed to increase in demand for scuba gloves are some of the leading factors driving the growth of the global scuba gloves market.
Moreover, steady growth in the sports industry and companies are adopting aggressive marketing strategies such as campaigns to encourage young population for water sports activities is expected to grow the scuba gloves market during the forecast period.
Opportunities for Global Scuba Gloves Market Participants
Over the last few years, there has been a rise in potential customers for scuba diving in terms of age group. For instance, nowadays many retirees becoming certified scuba divers as they have the time as well as money to enjoy the sports activities is the main factor due to which scuba gloves market revenue is expected to grow at a rapid growth rate, over the forecast period.
Moreover, tourism is one of the fastest growing industry in the world which will encourage diver to visit the world’s most beautiful coral reefs is the primary factor accelerating the growth of the scuba gloves market.
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