Camping Equipment Market To Reach $46.7 Billion, Globally, B...| MENAFN.COM

Friday, 19 August 2022 03:17 GMT

Camping Equipment Market To Reach $46.7 Billion, Globally, By 2031 At 8.1% CAGR: Allied Market Research'


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Rise in awareness regarding health & fitness, increase in number of campers, surge in initiatives from tourism associations to promote camping activities, and increase in youth population drive the growth of the global camping equipment market.

PORTLAND, Ore., Aug. 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, 'Camping Equipment Market by Application (Personal, Commercial), by Type (Camping Furniture, Camping Backpacks, Tents, Cooking Systems and Cookware, Camping Gear and Accessories), by Distribution Channel (Business to business, Supermarkets and Hypermarkets, Specialty sporting stores, Online retailers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031' . According to the report, the global camping equipment industry generated $22.0 billion in 2021, and is anticipated to generate $46.7 billion by 2031, witnessing a CAGR of 8.1% from 2022 to 2031.

Prime determinants of growth

Rise in awareness regarding health & fitness, increase in number of campers, surge in initiatives from tourism associations to promote camping activities, and increase in youth population drive the growth of the global camping equipment market. Moreover, increase in interest of campers for novel tents present new opportunities in the coming years.

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Covid-19 Scenario

  • Though the outbreak of the Covid-19 pandemic, owing to global lockdown, had a significant impact on travel, campgrounds achieved record-setting occupancy, glamping boomed, and RVs became more popular than ever.
  • The trend is going to continue post-pandemic as well.

The personal segment to maintain its leadership status throughout the forecast period

Based on application, the personal segment held the highest market share in 2021, accounting for nearly three-fifths of the global camping equipment market, and is estimated to maintain its leadership status throughout the forecast period, owing to launching of camping equipment for personal or individual camping purpose. However, the commercial segment is projected to manifest the highest CAGR of 8.6% from 2022 to 2031, owing to the low consumer interests and lack of adequate facilities for camping in few regions.

The business to business segment to maintain its lead position during the forecast period

Based on distribution channel, the business to business segment accounted for the largest share in 2021, contributing to nearly one-third of the global camping equipment market, and is projected to maintain its lead position during the forecast period. Manufacturers of camping equipment focus on providing products in B2B perspective in the market, which drives the segment. However, the online retailers segment is expected to portray the largest CAGR of 8.8% from 2022 to 2031. Increase in penetration of camping equipment products in various online portals in the developing regions and the rise in number of offers or discounts attract the campers to purchase camping tent through online channels.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue 2021, accounting for more than two-fifths of the global camping equipment market, due to rise in camping participation among millennials and Generation Z. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.3% from 2022 to 2031. This is attributed to rapid urbanization in the developing countries, increase in youth population, and rise in per capita disposable income.

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Leading Market Players: -

  • AMG-Group
  • Big Agnes, Inc.
  • Dometic Group AB
  • Exxel Outdoors LLC
  • Hilleberg The Tentmaker AB
  • Johnson Outdoors
  • Newell Brands
  • Oase Outdoors ApS
  • Simex Outdoor International GmbH
  • VF Corporation.

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