Return to: Business NewsWetsuits Market Size To Reach $1.18 Billion By 2022The global wetsuits market size is expected to reach USD 1.18 billion by 2022, according to a new report by Grand View Research, Inc. Wetsuit refers to a garment typically prepared from foamed neoprene, which is worn by sailors, divers, surfers, and other individuals engaged in water sports, providing buoyancy, abrasion resistance, and thermal insulation. Various applications of wetsuits include water sports activities such as whitewater rafting, surfing, sailing, diving, and sea rescue operations. The growth prospects for this market are bullish due to increase in water sports and recreational activities such as surfing, diving, and water skiing. Developing economies have been experiencing a rise in life expectancy. People with better standards of living are more prone to stay active longer and invest in premium quality sports goods. For PDF sample Copy or More Details please visit link @: http://www.grandviewresearch.com/industry-analysis/wetsuits-market The rise in the number of women participating actively in water sports has led to a significant increase in the wetsuits demand across the globe. The number of female surf participants across coastal regions has increased considerably over the past few years. Rise in e-commerce, growing demand for women wetsuits, and increased disposable income are projected to drive wetsuits market over the forecast period. However, increased adoption of dry suits over wet suits owing to benefits such as warmth, safety, added weight, cost of ownership, and versatility in application is presumed to challenge the industry growth. Further key findings from the report suggest: • Scuba diving accounted for over 30% of the overall market share in 2014 and is poised for considerable growth over the next seven years. Usage in scuba diving application offers waterproof apparels with properties such as breathability and thermal padding. • Surfing application accounted for close to 50% of the overall market share in 2014, and is expected to trigger consistent demand over the forecast period. The surfing industry has grown around the coastline over the past few years. New age development of wave parks and artificial waves, owing to proliferation of technology, is expected to provide significant opportunities for industry growth. • Projected to grow at an estimated CAGR of over 4% from 2015 to 2022, scuba diving application is expected to witness healthy growth. Use of wetsuits in scuba diving provides exposure protection, not only against water’s temperature, but also to objects that can scrape, cut or string. • Asia Pacific regional market is poised for high growth throughout the forecast period. It accounted for close to 20% of the overall market share in 2014. Increasing wages in the region have boosted surfing industry revenues as people have enough disposable income to pursue leisurely activities leading to proliferation of wetsuits. To request research report sample copy with TOC please visit @: https://www.grandviewresearch.com/industry-analysis/wetsuits-market/request/rs1 Grand View Research has segmented the global wetsuits market on the basis of product, and region: Wetsuits Product Outlook (Revenue, USD Million, 2012 - 2022) • Wind sports • Surfing • Scuba diving • Triathlon Wetsuits Regional Outlook (Revenue, USD Million, 2012 - 2022) • North America • Europe • Asia Pacific • Latin America • MEA For Inquire before buying please visit @: https://www.grandviewresearch.com/inquiry/2754/ibb About Grand View Research Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunit ... News Release: Wetsuits Market Size To Reach $1.18 Billion By 2022 Submitted on: September 23, 2020 10:04:45 AM Submitted by: sitakant On behalf of: exactrelease.com |