Global Underwater Lift Bags Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Underwater Lift Bags Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An Underwater Lift Bag is an item of lifting equipment consisting of a robust and air-tight bag with straps, which is used to lift heavy objects underwater by means of the bag's buoyancy. The heavy object can either be moved horizontally underwater by the diver or sent unaccompanied to the surface. In this report, Offshore Buoyancy Bag is usually used in marine salvage, pipe and cable laying, underwater construction, and other fields.

Market Overview:

The latest research study on the global Underwater Lift Bags market finds that the global Underwater Lift Bags market reached a value of USD 148.13 million in 2022. It’s expected that the market will achieve USD 178.71 million by 2028, exhibiting a CAGR of 3.18% during the forecast period.

Market Opportunities

The rapid development of global e-commerce
From the perspective of penetration rate, the penetration rate of e-commerce in countries around the world (defined as the proportion of online retail sales to the total social retail sales) is also increasing: China's e-commerce development is relatively mature, and the penetration rate has reached 21% in 2019; the United Kingdom, the United States In developed countries, the e-commerce penetration rate has also increased to more than 10% (before the epidemic); while Southeast Asia and other developing countries are still at a starting level due to restrictions on Internet infrastructure construction, representing the e-commerce penetration rate of countries such as Indonesia It has just exceeded 4% in 2019, and there is much room for improvement. For the Underwater Lift Bags industry, the development of the global e-commerce industry has increased the sales channels of many Underwater Lift Bags manufacturers, which will promote the development of the Underwater Lift Bags industry to a certain extent.

Market Risk

For Underwater Lift Bags products, accidents and operations during use are the main risk factors. Such as:
The diver or diver's umbilical cord or lifeline is hooked in the lifting equipment, resulting in an uncontrolled rapid ascent.
Using too much air from the breathing gas supply of scuba divers causes an air shortage accident.
Using too much capacity in the lifting bag results in positive feedback expansion and uncontrolled lifting during ascent.
The lifting bag leaked, causing loss of buoyancy and sinking after being lifted. As the air in the bag compresses, the load may sink faster and faster, and it may be dangerous for the diver to work below the surface or on the load, or the load may be lost.
The unbalanced connection of the lifting device may cause the load to become unstable once it leaves the bottom. Subsequent overturning or movement of the load may disengage the rigging or damage the load or lifting bag. Similarly, improper or insufficient lifting points may cause excessive force on the cargo and cause damage.
The above-mentioned problems that are prone to occur in the course of use have caused challenges to the development of the industry to a certain extent.

Region Overview:

Geographically, North America held the largest market share – 33.67% in 2022.

Company Overview:

Unique Group is one of the major players operating in the Underwater Lift Bags market, holding a share of 5.23% in 2023.

Unique Group

As an independently owned global company, Unique Group leads the way in providing engineering expertise, sales, and rental equipment, and the latest technology for the marine, diving, pipeline, and subsea market sectors.

Subsalve USA

Subsalve is a global leader and innovator in the design and manufacturing of engineered inflatable products. The company's underwater lifting bags are designed to meet the toughest challenges in entertainment, commercial, scientific and military applications.

Segmentation Overview:

By type, Capacity Less Than 10 Tons segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Marine Salvage segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Underwater Lift Bags market covered in Chapter 3:

Matjack
SOCAP SRL
Subsalve USA
Carter Lift Bag
DOOWIN
Buitink Technology
Unique Group
Turtle-Pac
JW Automarine
Musthane
Canflex USA Inc

In Chapter 4 and Chapter 14.2, on the basis of types, the Underwater Lift Bags market from 2018 to 2029 is primarily split into:

Capacity Less Than 10 Tons
10-50 Tons
More Than 50 Tons

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Underwater Lift Bags market from 2018 to 2029 covers:

Marine Salvage
Pipe and Cable Laying
Under Water Construction
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)