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”.
According to research 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 known 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.
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Continuous developments, R&D activities carried out by major players operating in the market space is acting as one of the primary driving factors for the growth of the global DPV market. The tourism sector recorded as the most lucrative sector in the global scenario, as it added a record USD 8.8 trillion in the world GDP. The consistently booming travel and tourism industry are responsible for the major chunk of the attributed growth of the global diver propulsion vehicles market. The surging popularity of water sports, underwater research activities, in conjunction with the rising expenditure for recreational activities in developed countries are fueling the market growth. The rise in disposable income coupled with a high standard of living is also contributing to the growth of the market. However, a limited range of diving equipment and the high cost of the vehicles are hindering the market growth. Whereas, an increase in professional diving experiences as well as in documentary creation is anticipated to open new avenues in the forecast period.
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The global diver propulsion vehicles market is segmented on the basis of product type, application, and regions. The product type segment is categorized into sit-on, tow-behind, manned torpedoes, and others. Further, tourism, military, and other are the application based segmentation of the global diver propulsion vehicles market. By region, the global diver propulsion vehicles market is classified into regions namely, Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Combining North America and Europe constitutes around 50% of the revenue share of the global market. Asia Pacific region accounted for a significant share in the global market. The regions are further bifurcated into major countries including the U.S., Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Brazil, and Argentina among others. China registered the 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 the 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
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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