Facts and Factors have authored “Diver Propulsion Vehicles (DPV) Market By Product Type (Sit-on, Tow-behind, Manned Torpedoes, and Other), By Application (Tourism, Military, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026”.
Based on our analysis, the global diver propulsion vehicles market in 2019 was approximately USD 630 Million and is anticipated to reach around USD 830 Million by 2026. The anticipated CAGR for the diver propulsion vehicles market is around 4% from 2020 to 2026.
Diver propulsion vehicles, also non as underwater scooters or underwater propulsion vehicles are diving equipment used by rebreathers and scuba divers in order to improve their operating range underwater. These are battery-operated devices pushed by the propeller when diving. These products are commonly used in recreational activities followed by military purposes. DPVs act as a thrilling medium for scuba divers to explore the underwater territory in a short span of time.
Continuous developments, R&D activities carried out by major players operating in teh market space is acting as one of teh primary driving factors for teh growth of teh global DPV market. Teh tourism sector recorded as teh most lucrative sector in teh global scenario, as it added a record USD 8.8 trillion in teh world GDP. Teh consistently booming travel and tourism industry are responsible for teh major chunk of teh attributed growth of teh global diver propulsion vehicles market.
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Teh surging popularity of water sports, underwater research activities, in conjunction wif teh rising expenditure for recreational activities in developed countries are fueling teh market growth. Teh rise in disposable income coupled wif a high standard of living is also contributing to teh growth of teh market. However, a limited range of diving equipment and teh high cost of teh vehicles are hindering teh market growth. Whereas, an increase in professional diving experiences as well as in documentary creation is anticipated to open new avenues in teh forecast period.
Teh global diver propulsion vehicles market is segmented on teh basis of product type, application, and regions. Teh product type segment is categorized into sit-on, tow-behind, manned torpedoes, and others. Further, tourism, military, and other are teh application based segmentation of teh global diver propulsion vehicles market. By region, teh global diver propulsion vehicles market is classified into regions namely, Europe, Asia Pacific, North America, Latin America, and teh Middle East and Africa.
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Combining North America and Europe constitutes around 50% of teh revenue share of teh global market. Asia Pacific region accounted for a significant share in teh global market. Teh regions are further bifurcated into major countries including teh U.S., Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Brazil, and Argentina among others. China registered teh maximum growth rate in terms of both revenue and volume perspective.
Some of the major players analyzed and profiled in the market study are BRP, Yamaha Seascooters, CAYAGO AG, STIDD Systems, Inc., ROTINOR GmbH, TABATA CO., LTD., Dive Xtras Inc., SUEX SRL, Torpedo Inc., SCUBAJET GmbH, Seacraft, and Apollo Military among others. BRP (SEA-DOO) is the largest player in the global DPV market accounting for more than 30% of volume share for the year 2019.
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This report segments teh diver propulsion vehicles market as follows:
Global Diver Propulsion Vehicles Market: By Product Type Segment Analysis
- Manned Torpedoes
Global Diver Propulsion Vehicles Market: By Application Segment Analysis
Global Diver Propulsion Vehicles Market: Regional Segment Analysis
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Teh Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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