Diver Propulsion Vehicles (DPV) Market Size, Share Global Analysis Report, 2019 – 2026

Industry Insights

[110+ Pages Report] According to the report published by Facts Factors, the global diver propulsion vehicles (DPV) market size was worth around USD 630 million in 2019 and is predicted to grow to around USD 830 million by 2026 with a compound annual growth rate (CAGR) of roughly 4% between 2020 and 2026. The report analyzes the global diver propulsion vehicles (DPV) market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the diver propulsion vehicles (DPV) market.

The report encompasses the forecast as well as an analysis of the diver propulsion vehicles (DPV) market on a global and regional level. The study displays historical data from 2016 to 2018 along with a forecast from 2020 to 2026 based on revenue (USD Million) and Sales (K Units). Additionally, the market growth drivers, opportunities, limitations, and trends are also included in the diver propulsion vehicles market report.

We have included industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the diver propulsion vehicles market in our study.

Key Insights from Primary Research

• As per our primary respondents, the global Diver Propulsion Vehicles (DPV) market is set to grow annually at a rate of around 4%
• It was established through primary research that the Diver Propulsion Vehicles (DPV) market was valued at around USD 630 Million in 2019
• North America held the largest revenue share among all the regions in 2019
• The “tourism” category, on the basis of application, was the leading revenue-generating category accounting for around 60% market share, in 2019
• On the basis of product type segmentation, the “tow-behind” category segment accounted for the leading share at more than 70%, in 2019
• BRP (SEA-DOO) grabbed the major share of the global DPV market during the analysis period

Key Recommendations from Analysts

• As per our analysts, the global diver propulsion vehicles market has tremendous potential, especially in the Southeast Asia region, and the market is further expected to witness notable growth over the forecast period.
• The travel and Tourism industry is acting as the backbone for the development and growth of the market
• Our team of analysts has identified, the military as one of the fastest-growing segments thus offering new opportunities for the players operating in this market
• Fuel operated DPVs are prognosticated as the major trend in the future diver propulsion vehicles market in comparison to battery-operated vehicles

Our study also includes an analysis of Porter&rsquo's Five Forces framework for understanding the competitive strategies used by market competitors. It also encompasses PESTLE analysis and SWOT analysis of players.

The report also offers an in-depth analysis of the market share of each industry player and gives an outline of the market position of key players in the diver propulsion vehicles market. Moreover, the study offers wide coverage of key strategic improvements witnessed in the market such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, R&D activities, and geographical expansion of key players of the diver propulsion vehicles market.

The study provides a decisive view of the diver propulsion vehicles market by segmenting the wig market based on product type, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The increasing military spending of major countries around the world such as the U.S., China, Russia, India, Saudi Arabia, and several others are propelling the growth of the diver propulsion vehicles market in the global scenario. Manufacturing of diving equipment and diver propulsion vehicles in the Asia Pacific region owing to the availability of competitive labor prices, and supportive government initiatives are further driving the market growth. The other application segment is also witnessing a healthy growth rate owing to the rise in the non-professional training industry, exhibitions, and various forms of research and development activities around the world.

Report Scope

The global diver propulsion vehicles market is segmented on the basis of product type, application, and region. Sit-on, tow-behind, manned torpedoes, and others are the product type segment. The tow-behind segment held the largest share of around 70% of the total product type segment. The application segment is categorized into tourism, military, and others. The tourism application segment accounted for around 60% of the total volume share of the global market.

Asia Pacific, Europe, Latin America, North America, and Middle East, and Africa are the regional segmentation of the global diver propulsion vehicle market. Major countries included in the scope of the research report are the U.S., Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Brazil, GCC Countries, South Africa, and Argentina among others.

Some of the leading players in the global market include

• BRP
• Yamaha Seascooters
• CAYAGO AG
• STIDD Systems Inc.
• ROTINOR GmbH
• TABATA CO.LTD.
• Dive Xtras Inc.
• SUEX SRL
• Torpedo Inc.
• SCUBAJET GmbH
• Seacraft
• Apollo Military. 

Mergers and acquisitions of smaller firms are among the primary strategies followed by manufacturers. For instance, in 2018, a major player in the market BRP entered into a definitive agreement to acquire Triton Industries, Inc., the leading North American manufacturer of the Manitou pontoon brand.

This report segments the diver propulsion vehicles market as follows:

By Product Type Segment Analysis

• Sit-on
• Tow-behind
• Manned Torpedoes
• Other

By Application Segment Analysis

• Tourism
• Military
• Other

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

Key Pointers Addressed by the Report

• Historical data and forecast analysis of the market
• Drivers and Restraints affecting market dynamics
• Exhaustive analysis of the future market trends
• Comprehensive information about the leading market segments and regions
• Potential opportunities for the players in the market
• Business strategies by the major players operating in the global market
• Strategic developments made by the competitive players and in-depth analysis of their impact on market growth