A wetsuit is a garment worn by surfers, canoeists, and others engaged in water sports and activities carried out under water or on water. Wetsuits are usually made of foamed neoprene bubbles, which provide thermal insulation, abrasion resistance, and buoyancy. Insulation properties depend on bubbles of gas bounded in the material, which helps to reduce the thermal conductivity of the wetsuits. Wetsuits are primarily used for thermal insulation when the user is submerged in water since the water may be too cold and uncomfortable for the user’s body.
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The wetsuit market is driven by the increase in water sports and recreational activities. People with higher disposable income are likely to invest in premium quality sports goods. New innovations in wetsuits and the advancement in technology significantly impact the market, thereby boosting the demand for different types of wetsuits. Manufacturers are striving to launch new product lines made up of using advanced technology and high quality fabrics. Growth in participation of women in water sports is also anticipated to boost the demand for wetsuits. Novel technologies in artificial waves and wave parks are estimated to propel the surfing and aligned industry. However, dry suits offer many benefits. They are safer than wetsuits. They also provide warmth, versatility, and are lower in weight. This can restrain the wetsuit market.
Based on application, the wetsuits market can be segmented into surfing, underwater diving, sailing, river rafting, white water kayaking, sea rescue operations, endurance swimming, and water skiing. Wetsuits are primarily sued in water sports, as the suit must be lightweight to provide comfort to the user who is under water. Waterproof clothes with properties such as thermal padding and breathability are required in water sports.
Based on sports, the wetsuit market can be bifurcated into water sports and wind sports. Wetsuits are used by deep-sea divers, windsurfers, canoeists, surfers, triathletes, and others who are involved in water and wind-related sports activities. Wetsuits provide excellent comfort and flexibility to users.
In terms of geography, the wetsuits market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the wetsuits market in terms of consumption during the forecast period. Asia Pacific is also expected to be a key region of the wetsuits market due to the increase in popularity of water sports and wind-based sports and related activities in the region. Furthermore, India and China are estimated to offer lucrative opportunities for manufacturers of wetsuits due to the presence of favorable government initiatives encouraging water sports.
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Key players operating in the wetsuits market are O’Neill, Inc., Quiksilver Inc., Billabong International Limited, Aqua Lung, Gullewa Limited, Shieco Group. Co., Ltd, and Patagonia Capital Ltd.