Recreational Pressure Vessels Market Analysis

Market Insights

The Recreational Pressure Vessels Market was estimated to grow at a healthy CAGR of 4.3% over the next five years to reach US$ 201.3 Million in 2026.

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 very 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.

Market Dynamics

The recovery in the tourism industry and relaxation on travel restrictions, the market is likely to gain momentum. Also, the long-term outlook seems to be loaded with promising growth opportunities, driven by the increasing expenditure on recreational activities and inclination towards the marine and coastal tourism of people all across the globe. Considering the recuperation of the SCUBA diving industry and pick up in recreational activities.

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Key Players

Following are the key players in the recreational pressure vessels market.

• Catalina Cylinders
• Cylinders Holding Group
• Eurocylinder systems AG
• FABER INDUSTRIE SPA
• Luxfer Holdings PLC
• Metal Mate Co., Ltd.
• Shanghai Qilong High Pressure Container Co., Ltd.
• Shenyang Gas Cylinder Safety Technology Co., Ltd.
• TriMas Corporation
• Worthington Industries, Inc.

Segment Analysis

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.

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.

Regional Analysis

Asia-Pacific is expected to remain the largest as well as fastest-growing recreational pressure vessels market during 2021-26. 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.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories:

By Application Type

• SCUBA
• Paintball

By Pressure Vessel Type

• Type I
• Type II
• Type III

By Region

• North America
• Asia-Pacific
• Europe 
• Rest of the World

COVID-19 Impact

The COVID-19 pandemic brought grievous consequences for the entire world, disrupting various industries all across the globe. The SCUBA diving industry was among the worst-hit ones, due to the implementation of lockdown, travel restrictions, and job losses. The pandemic devastated the entire tourism industry and brought immense loss to the SCUBA diving industry stakeholders.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the recreational pressure vessels market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s recreational pressure vessels market realities and future market possibilities for the forecast period of 2021 to 2026.

The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.