The Pivotal Study of Wetsuits Global Market – Market Synopsis, Industry Key Players, Market Tracking, Regional Forecast till 2026
The newly Wetsuits market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
A wetsuit is a garment, usually made of foamed neoprene, which is worn by surfers, divers, windsurfers, canoeists, and others engaged in water sports and other activities in or on water, providing thermal insulation, abrasion resistance and buoyancy. The insulation properties depend on bubbles of gas enclosed within the material, which reduce its ability to conduct heat. The bubbles also give the wetsuit a low density, providing buoyancy in water.
On the basis of products, the various types include Hooded Wetsuits, Full Wetsuits, Convertible Wetsuits, Sleeveless Wetsuits, and Other. Full wetsuits provide protection to the whole body and they are best suited for cold water surfers; whereas sleeveless wetsuits do not provide full protection to the body and they are best suited for warm water surfing.
On the basis of application, the Wetsuits market is segmented into Wind sports, Surfing, Scuba diving, Triathlon, and Other. The surfing segment accounted for more than 45% of the general market in 2014 and is expected to hold the largest market share in the wetsuits in the next couple of years. On the other hand, the subdivision of Scuba diving was responsible for above 30% stake of the general wetsuits market during the year 2014 and is composed for substantial development above the following years.
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According to a new research study, the Wetsuits market size is expected to reach USD 1,206 million by 2026 from USD 985 million in 2019, with a compound annual growth rate of 2.94% during the forecast period.
The growth prospects for wetsuits market are bullish due to increase in water sports and recreational activities such as surfing, diving, and water skiing. The rise in the number of women participating actively in water sports has also led to a significant increase in the wetsuits demand across the globe. Furthermore, increasing awareness regarding e-commerce coupled with growing spending on fun and leisure activities is likely to present growth opportunities. 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 may affect the growth of the wetsuits market, negatively. Additionally, seasonality of water games may pose a challenge to the wetsuits industry, since professional sports are a key application segment.
Regional Segment Analysis
The report focuses on detailed analysis of major regions like North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia), and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). The Asia-Pacific was the global wetsuits market leader in 2018, followed by North America & Europe markets, possessing the market share of 55.72%, 22.35%, and 17.48% respectively.
The Asia Pacific is expected to dominate the global wetsuits market, with annual sales of nearly USD 464 million in 2018. The growth of wetsuit apparel can be attributed to growing inclination towards the water and wind-based sports activities and events associated with them. In addition, favorable government initiatives encouraging water-based sports in countries such as China are expected to push the demand for wetsuit apparel.
North America wetsuits market is anticipated to experience considerable growth from 2019 to 2026. Novel technologies in artificial waves and wave parks are anticipated to boost the overall surfing and aligned industry. Moreover, windsurfing gears are anticipated boost the overall industry sales owing to presence of Columbia River Gorge & Maui islands, famous as world windsurfing capital.
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The Wetsuits market is full of competition due to the presence of many large and small companies and local manufacturers. The leading vendors in the market are O’Neill, Quiksilver, Billabong, Rip Curl, and Body Glove. Other prominent vendors in the market are Aqua Lung, GUL, Hurley, Patagonia, Cressi, Osprey, Scubapro, Mares, Poseidon, Typhoon, TWF, Spartan, C-Skins, TUSA, Saekodive, and others.
Today, many companies are committed to producing environmentally friendly wetsuits through the use of a variety of earth-conscious materials and production techniques. This includes the use of natural rubber as a replacement for neoprene, the use of recycled plastic bottles, and the use of water-based glue instead of solvent-based materials for lamination. Because these suits have the smallest seams, custom fit body lines, and are anatomically correct, they allow for unobstructed warmth and superior performance.
Key questions answered in the report
- What will the market size and growth rate be in 2026?
- What segment or region will drive or lead the market growth and what are the reasons?
- How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
- What key strategies are used by top vendors to increase revenue?
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Wetsuits Market
2 Market Trends and Competitive Landscape
3 Segmentation of Wetsuits Market by Types
4 Segmentation of Wetsuits Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Wetsuits Market in Major Countries
7 North America Wetsuits Landscape Analysis
8 Europe Wetsuits Landscape Analysis
9 Asia Pacific Wetsuits Landscape Analysis
10 Latin America, Middle East & Africa Wetsuits Landscape Analysis
11 Major Players Profile
11.1.1 O’Neill Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.4 Rip Curl
11.5 Body Glove
11.6 Aqua Lung
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Target Audience for this Report
- Wetsuits manufacturers
- Raw material suppliers of Wetsuits
- Wetsuits industry associations
- Product managers, Wetsuits industry administrator, C-level executives of the industries
- Market Research and consulting firms
- Small and Medium-sized Enterprises (SMEs)
- Government agencies and NGOs
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