Startview Research has launched a market research report titled Recreational Pressure Vessels Market that is compiled by leveraging findings as well as insights about the market that helps businesses to stay ahead in the competitive market. It also helps the market players in selecting targets, guide where to invest, giving users a detailed information about company profile, etc. This report provides reliable and accurate market data, that can work as the key for the growth of any business. The report estimates about future trends, challenges, linchpins, opportunities, revenue and future sales count in the target market along with forecasting for a 5-year period.
According to this report, the market for recreational pressure vessels is projected to grow at a healthy CAGR of 4.3% over the next five years to reach US$ 201.3 million in 2026.
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Market Segments' Analysis
Stratview Research has bifurcated the Recreational Pressure Vessels Market by the following –
· Application Type (SCUBA and Paintball)
· Pressure Vessel Type (Type I, Type II, and Type III)
· Region (North America, Europe, Asia-Pacific, and Rest of the World).
Based on the application type, the market is bifurcated into SCUBA and paintball. 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, the market is segmented into type-I pressure vessels, type-II pressure vessels, and type-III pressure vessels. 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, 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.
In terms of regions, 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.
Market Features
This report on the Recreational Pressure Vessels Market is one of the important tools with the help of which the users can obtain a well perspective and through understanding of target market and customer. The details in the report covers Covid19 impact on the market and also predicts how long will it take to recoup which aids in reducing the business failures.
- Trend analysis, pricing and competitive analysis are some of the vital factors covered in this report.
- This report consists of in-depth analysis of the market to help businesses in improving decision making.
- Recreational Pressure Vessels Market report aims at evaluating future sales as well as trends for the prediction period 5 years.
- This report helps to keep the users updated with key changes that take place in the present market.
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