The market for recreational pressure vessels is projected to grow at a healthy CAGR of 4.3% over the next 5 years to reach US$ 201.3 million in 2026; reports Stratview Research.
Raipur, April 28, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a global market research firm has published a new report titled ‘Recreational Pressure Vessels Market’ which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Download a free sample pdf.
What are ‘Recreational Pressure Vessels’?
Recreational pressure vessels include SCUBA (Self-Contained Underwater Breathing Apparatus) diving and paintball game pressure vessels. SCUBA pressure vessel is a small yet strong vessel that holds a large volume of compressed gas which can be a regular filtered air or enriched air nitrox (with higher oxygen and lower nitrogen content) or trimix required by a SCUBA diver during diving. On the other hand, paintball pressure vessels provide the pressure source to power a paintball gun. Carbon dioxide and compressed air are the two types of gases used in a paintball pressure vessel.
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Recreational pressure vessels Market is driven by a host of factors, some of which are noted below:
The market is likely to gain momentum as the tourism industry recovers followed by the relaxation of lockdown norms.
The increasing expenditure on recreational activities and inclination towards the marine and coastal tourism of people all across the globe.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Run through the TOCs of the report, here.
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
Application Type – SCUBA, and Paintball.
Pressure Vessel Type – Type I, Type II, and Type III.
Region - North America, Europe, Asia-Pacific, and the Rest of the World.
Based on the application type-
Despite witnessing a massive plunge in 2020, SCUBA dominated the market in the year 2020 and is expected to maintain its unquestionable position during the forecast period as well.
Type-I pressure vessel rules the SCUBA diving tanks with more than 90% share.
The increasing inclination of people towards amusement and recreational activities has caused a positive impact on the diving industry, which is a major reason for the dominance of the segment.
Based on the pressure vessel type-
Type-I led the recreational pressure vessel market in 2020, due to its huge dominance in both, SCUBA as well as paintball game applications.
For paintball application, the type-III pressure vessel is expected to exhibit the highest growth during the forecast period as it can hold more pressure that allows more shots per pressure vessel, compared to the type-I pressure vessels.
Which region offers the best opportunity and growth?
Asia-Pacific is expected to remain the largest as well as fastest-growing recreational pressure vessels market during the forecast period.
China, Australia, and South-East Asia are the major contributors to the region’s dominant position.
These countries have huge incoming tourists coupled with increased willingness to spend on experiential and recreational activities.
COVID-19 Impact on the Market
The COVID-19 pandemic brought grievous consequences for the entire world, disrupting various industries all across the globe. The recreation industry was among the worst-hit ones, due to the implementation of lockdown, travel restrictions, and job losses. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, Click here.
Who are the Top Market Players?
The following are the key players in the Recreational Pressure Vessels market:
Shanghai Qilong High-Pressure Container Co., Ltd.
Shenyang Gas Cylinder Safety Technology Co., Ltd.
What deliverables will you get in this report?
- In-depth analysis of the Recreational Pressure Vessels Market.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
Related reports which might be useful:
Ice Cream Machine Market Forecast & Strategic Assessment till 2027
Diving Equipment Market Size, Share, Trends, and Forecast.
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customization of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
Stratview Research has also launched 'Composights', an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.
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