Portland,OR, July 09, 2019 (GLOBE NEWSWIRE) -- According to the report, the global Driving equipment market accounted for $3.73 billion in 2017 and is expected to reach $5.11 billion by 2025, registering a CAGR of 4.1% from 2018 to 2025.
Rise in industrial & constructional activities and rapid increase in disposable income have boosted the growth of the global Driving Equipment market. Furthermore, the surge in coastal tourism propel the market growth. However, rise in number of fatal accidents related to diving activities and high cost of designing hamper the market growth. On the contrary, development of ecofriendly & sustainable environment is expected to create lucrative opportunities in the near future.
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The global driving equipment market is segmented on the basis of equipment, distribution channel, and region. Based on types of equipment, the market is divided into BCD & regulator, cylinder & diving propulsion vehicle, decompression chamber, exposure suit, and accessories. The BCD & regulator segment held the largest share in 2017, accounting for more than one-third of the market. However, the exposure suit segment is projected to register 5.4% during the forecast period.
On the basis of distribution channel, the market is bifurcated into specialty store, online, and others. The specialty store segment dominated the market, contributing nearly half of the market. however, the online segment is estimated to manifest CAGR of 4.8% during the forecast period.
The driving equipment market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2017, accounting for nearly one-third of the market. Furthermore, this region is anticipated to register the fastest CAGR of 5.4% during the forecast period.
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The market report provides in-depth analysis of the major market players such as Dive Rite, American Underwater Products, Inc., H2Odyssey, Aqua Lung International, Johnson Outdoors Inc., AQUATEC - DUTON INDUSTRY CO., LTD., Cressi Sub s.p.a, Beuchat, Mares S.p.A, and Poseidon Diving System AB. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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