The global camping equipment market size was valued at USD 77.94 billion in 2022 and is expected to reach a valuation of USD 83.58 billion in 2023 and is expected to reach USD 133.05 billion by 2030 with a CAGR of 6.9% during the forecast period. Camping equipment has tents, small cooking appliances, ropes, bags, and others that are required for trekking activities. Market key players have been launching new and attractive traveling products which are equipped with smart technology. Rising government investment in the tours and travel industry is expected to drive market development. Fortune Business Insights™ shares this information in its report titled “Camping Equipment Market, 2023-2030.”
List of Key Players Profiled in the Camping Equipment 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)
Segments:
Backpacks To Lead As They Offer Flexibility and Comfort
On the basis of deployment, the market is segmented into backpacks, sleeping bags, tents, cooking system, furniture, and others. Backpacks segment held the majority part manufacturers are continuously striving to implement new variety in the backpacks which offers flexibility and comfort. 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 Have 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 they have a wide range of products. Amazon, Flipkart, ebay, Myntra, and others are some of the online channels which offers a wide variety of products.
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.
Competitive Landscape:
Companies Have Been Collaborating Amongst Each Other To Gain Market Share
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 influenced the market positively. In May 2020, Big Agnes collaborated with Bluebird Backcountry to assist as the official protected jacket sponsor of the ski area, offering the guides, instructors, and members by providing insulated jackets.
Drivers:
Increasing Number of Recreational Activities to Drive Market Trajectory
Increasing number of recreational activities are anticipated to drive camping equipment market growth. Rising disposable income levels of the individuals in developing nations such as India, China, Brazil, France, and others increased the purchasing parity of the consumers in those regions supporting the growth of the market. Leisure activities helps in the reduction of stress, helps in the improvement of the health of the consumers, and personal development and growth in the long run.
However, rising costs of transportation has led to an increase in the inflation rate, consuming an large portion of consumers on these type of expenses which is anticipated to hinder market development.
Regional Insights:
North America to Lead Market Due To Presence of Established Market Players in the U.S
North America is expected to dominate camping equipment market share due to presence of established market players in the U.S. Availability of wide range of brands in travel or camping gear and accessories and kits and demand for luxury and premium travel accessory products.
Europe is also expected to be the second dominant region owing to various stakeholders and members of the tourism sector have initiated many projects and travel packages at an affordable price for the consumers.
Asia Pacific is anticipated to have a significant growth with prevalence of camping representing an increase of the youth in the outdoor games and events.
Key Industry Developments:
- June 2022- Big Agnes announced the launch of 3N1 sleeping bag range which is made up of two distinct sleeping bags which can be combined to offer a deluxe sleep which is temperature-monitored according to different conditions.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/camping-equipment-market-104508
