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Underwater signaling devices are used by divers involved in scuba diving, navy, marine activities, underwater installations of pipelines and subsea operations in oil and gas industry. Often, underwater signaling devices can be the difference between life and death for the divers involved in marine activities.
Underwater Signaling Devices: Dynamics
Adventure and tourism segment will create major demand for underwater signaling devices as adventure activities, such as scuba diving and snorkeling, are gaining more popularity among tourists, especially millennials. This, in turn, is giving rise to more and more scuba diving centers around the world. Within the oil and gas industry, offshore field developments are on the rise given the exponential increase in the number of new fields discovered in North Sea, Gulf of Mexico and in the Pacific waters. Offshore installations require the use of divers and Remotely Operated Vehicles (ROVs) for the execution of various projects. Hence, underwater signaling devices will witness greater demand from the oil and gas industry segment. Given their discreet nature, underwater signaling devices are also used by navy personnel engaging in complex underwater missions, but will account for the lowest market share.
Since, underwater signaling devices are essential for all underwater marine activities, there are not many factors challenging the growth of the market. However, audible devices may face some challenge as they annoy fellow divers during scuba diving activities and scare off animals.
Underwater Signaling Devices: Market Segmentation
On the basis of industry, the global Underwater Signaling Devices has been segmented as:
- Oil & Gas
- Marine
- Adventure & Tourism
- Others
On the basis of type, the global underwater signaling devices has been segmented as:
- Visual underwater signaling devices
- Audible underwater signaling devices
On the basis of depth, the global Underwater Signaling Devices has been segmented as:
- Deep Water
- Shallow Water
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Underwater Signaling Devices: Regional Overview
North and Latin America have some of the best scuba diving locations spread across Mexico, Ecuador, Honduras and Belize and with the Gulf of Mexico being one of the most active offshore locations in the oil and gas industry, both regions will occupy strong market share for underwater signaling devices. Increased oil and gas activity in North Sea coupled with great adventure locations along the coastal line will help boost the underwater signaling devices market in Western Europe. Asia-Pacific will also witness decent growth in the underwater signaling devices market given the presence of various islands and booming oil and gas activity in the Pacific waters. Middle East and Africa will register lowest growth in the underwater signaling devices market during the forecast period.
Global Underwater Signaling Devices: Key Players
Examples of some of the market participants identified across the value chain of the global Underwater Signaling Devices are:
- XS Scuba
- DiveAlert
- Oceanears
- SCUBAPRO
- AQUATEC - DUTON INDUSTRY CO., LTD.
- Lancaster Scuba Center
- Innovative Scuba Concepts
- Scuba Max
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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