The global camping equipment market size was valued at USD 77.94 billion in 2022. The market is projected to grow from USD 83.58 billion in 2023 to USD 133.05 billion by 2030, exhibiting a CAGR of 6.9% during the forecast period.
Equipment for camping is used by trekkers and hikers for trekking and hiking respectively for safety and convenience. Trend and need for leisure activities in the young population is augmenting the market growth. Habit of travelling post-pandemic has surged the market share for the equipment. Fortune Business Insights™ shares this information in its report titled “Camping Equipment Market, 2023-2030.”
List of Key Players Profiled in the Market Report
- MountCraft (India)
- Johnson Outdoor Inc. (U.S.)
- Nemo Equipment, Inc. (U.S.)
- Oase Outdoors ApS. (Denmark)
- Newell Brands (U.S)
- Zempire Camping Equipment (New Zealand)
- Exxel Outdoors, LLC (U.S.)
- AMG Group Ltd. (U.K.)
- Big Agnes, Inc. (U.S.)
- SUPAPEG (Australia)
Segmentation
Backpacks to Lead as They are Lightweight And Convenient To Carry
On the basis of product type, the market is segmented into backpacks, sleeping bags, tents, cooking system, furniture, and others. Backpacks segment held the majority part in as they are very lightweight and convenient for the consumers to carry their belongings from place to place. The backpack segment is set to hold a share of 26.22% owing to the increasing trend for travel and tours among the young population.
Offline Channels To Lead As They Offer A Wide Range Of Products
Based on distribution channel, the market is segmented into offline stores and online stores. Offline channels are expected to dominate the segment as supermarkets and hypermarkets and others have a wide range of products. They also provide consumers to check the authenticity of the products. Online segment is also increasing due to prevalence of e-commerce in various regions.
Geographically, the market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Increasing Number Of Investments In The Tour And Travel Industry To Drive Market Trajectory
Increasing number of investments in the tour and travel industry are anticipated to drive camping equipment market growth. Tourism sector helps to generate a high portion of revenue which is encouraging the government to adopt several investments towards improving the travel infrastructural facilities. The growth is supported by the implementation of various policies of development in the tourism activities.
However, increasing prices of the travelling such as of airline tickets, international baggage chargers, and others are anticipated to hinder market development.
Regional Insights
North America To Lead Market Due To Demand For Luxury And Premium Travel Accessory Products
North America is expected to dominate camping equipment market share due to demand for luxury and premium travel accessory products in the region. Presence of well-known market players in the U.S. owing to the availability of wide range of brands in travel or camping gear and accessories and kits.
Europe is also expected to be the second dominant region owing to the increasing rate of outdoor recreational activities. Tourism sector is also getting a boost with number of investments and projects which is also set to propel market growth.
Asia Pacific is anticipated to have a significant growth with prevalence of camping activities owing to increasing interests amongst youth populace.
Competitive Landscape
Key Market Players Have Been Launching New Products
Key market players have been launching new products depending upon on the need for the customization and trekking taken up by the people. Diverse weather conditions, tracks, and other factors have been influencing the application of different trekking products increases the need for customized and high-durability products which led to the launch of customized trekking goods which is influencing the market positively. In May 2020, The North Face Company announced the launch of a new series of mountain kits for the summer season, which had garments, foot wears, and other travel equipment.
Key Industry Development
- June 2022- Newell Brands Contigo launched a range of cooking systems including beverage containers, dual-sip thumbler, stainless steel can cooler and tumbler, wine tumbler, cookware sets, and other cooking systems. All of the products can be reused and are suitable for trekking activities.
Reference Link:
https://www.fortunebusinessinsights.com/camping-equipment-market-104508
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