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Wetsuits Market - What are the main factors that contributing towards industry growth?

Author : Rahul Varpe | Published Date : 2019-03-29 

Asia Pacific wetsuits market size is predicted to witness significant growth owing to increasing spending on leisure activities. North America wetsuits market is anticipated to experience considerable growth from 2016 to 2023. Distribution channels include surf shops, general purpose sporting goods stores, company-owned stores, fashion retailers, and online stores.

U.S. wetsuits market size was estimated at over USD 110 million in 2015, with the regional surfing industry valued at over 7 billion in the same year. U.S. triathlon market revenue was over USD 2.5 billion in 2014, which is expected to prove favourable for wetsuit sales.

Global wetsuits market size is estimated to grow at a CAGR of over 4% from 2016 to 2023. Increasing demand for luxury sports is likely to boost the industry over the forecast period. Water sports need waterproof apparel with various characteristics such as breathability and thermal padding. Growing urbanization accompanied by dual-earning households is likely to increase disposable income and contribute to consumption.

To access the table of contents or view the Wetsuits Market report in detail, please click the link below: www.gminsights.com/request-toc/upcoming/230

Surging usage of the garment among triathletes, divers, surfers, windsurfers, and individuals engaged in other water sports is predicted to propel wetsuits market share from 2016 to 2023.

Neoprene contains small nitrogen gas bubbles, which reduce transport of heat via gas by convection similar to cloth fabric. The suits are required to have snug fit for working efficiently when immersed. Loose fitting may allow outside cold water to enter continuously, especially from the openings at cross joints. These suits provide buoyancy, abrasion resistance, and thermal insulation as they are produced using foamed neoprene. The insulation is directly proportional to the gas bubbles enclosed in the garment material. This in turn helps in reducing heat conduction capacity.

The suits are mainly used for thermal insulation when the user is immersed in water or frequently drenched with heavy spray. Activities such as sailing, underwater diving, river rafting, surfing, white-water kayaking, endurance swimming, and sea rescue operations are anticipated to fuel wetsuits market growth. Growing participation of women in water sports is also expected to boost demand.
Seasonality of water games may pose a challenge to the wetsuits industry, since professional sports are a key application segment. Increasing awareness regarding e-commerce coupled with growing spending on fun and leisure activities is likely to present growth opportunities.

Key players accumulating major wetsuits market share include O'Neill, Billabong International, Quiksilver, and Patagonia. Other notable participants are Buell Wetsuits, Body Glove, C-Skins, Musto, Helly Hansen, Rip Curl, and Xcel Brands. Taiwan’s Sheico Group is a major exporter of wetsuits, and employs vertical integration as a key growth strategy.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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