The scuba diving equipment market is expected to post a compound annual growth rate (CAGR) of 3 percent in the 2019-2024 period, according to a new report by global technology research and advisory firm Technavio. Growth is being driven by the rising popularity of water sports in general and the specific health benefits of this sport. Scuba diving maximizes the oxygen intake of the diver, improves the quality of breathing, increases the heart rate and strengthens the heart muscle, explains the report. It also helps reduce stress and anxiety as controlled breathing relaxes the human body. North America is currently leading the scuba diving equipment market, followed by Europe, Asia-Pacific (APAC), South America, and the Middle East and Africa region (MEA). According to the report, the rising demand for scuba diving apparel made from high-quality fibers will drive the growth of the market in North America. Preference for celebrity-endorsed products and designer collections is also rising in North America. These products cost more than regular apparel, and the revenues generated by the market in North America are therefore expected to increase accordingly. However, during the forecast period, 35 percent of the growth will originate from the APAC region, says the report.
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