RV camping and backpacking segment likely to register growth during forecast period.
Europe remains the largest shareholder in the global camping and caravanning market and the East Asian and South Asian regions are likely to register high growth rate
Infrastructural and facility developments at camping grounds impacting the market positively.Rising disposable incomes resulting in increase spending in domestic holidays likely to fuel market growth.
Increasing popularity of outdoor recreational activities likely to impact positively to the market growth
NEWARK, DE / ACCESSWIRE / August 13, 2024 / The global camping and caravanning market is experiencing significant growth and is expected to continue expanding in the forecast period. With a substantial increase from USD 56,121.4 million in 2024 to USD 119,337.5 million by 2034, at a compelling CAGR of 7.8%, the industry is set for remarkable development. This impressive growth is attributed to various factors, such as the increasing investment in campground infrastructure and services by both government and private enterprises.
Moreover, innovations in camping gear, including lightweight and durable tents, portable power sources, and advanced cooking equipment, have made camping more accessible and enjoyable, drawing diverse groups of consumers for an outdoor experience. The camping and caravanning market has also benefited from mergers and acquisitions, which have facilitated the development of more enhanced and updated camping experiences, as well as provided expanded opportunities for growth.
Additionally, natural beauty combined with recreational opportunities has positioned state or national park campgrounds as top destination types, attracting a wide range of customers, from families seeking adventure getaways to nature enthusiasts. These factors collectively contribute to the positive outlook for the camping and caravanning market, with ample opportunities for global expansion.
Younger Generations' Passion for Traveling Likely To Impact Growth Positively
Caravans are a unique product inthe tourism industry. Such a product attracts individuals from all segments like families, senior citizens, the young generation, and also passionate tourists that have made travel an important part of their life. The increasing desire for adventure traveling among the younger generation is contributing significantly to the growth of the market. Younger generations often like to get outdoor adventure trips and using a caravan is relatively cheap and flexible. This is likely to boost the demand for caravans in the global camping and caravanning market during the forecast period.
Key Takeaways from the Market Study
State or national park campgrounds as the top destinations have covered 40.6% of the value share for 2024.
Car camping has gained huge traction, covering a wide customer base registered share value of 29.3% for 2024.
The camping and caravanning market in Australia is set to experience an exponential increase, with a 13% CAGR through 2034.
The camping and caravanning market in India is projected to grow at a CAGR of 9.3% through 2034.
The camping and caravanning market in China is predicted to rise at an 8.7% CAGR through 2034.
The camping and caravanning market in Germany is anticipated to develop at a CAGR of 7.3% through 2034.
The camping and caravanning market in the United States is estimated to rise at a 4.9% CAGR through 2034.
"Implementation of technological advancements in RVs, such as energy-efficient appliances and advanced navigation systems, has enhanced the convenience and sustainability of camping, attracting tech-savvy campers. Such advancement has opened many opportunities for manufacturers," says Sudip Saha Managing Director and Co-Founder at Future Market Insights.
Full Report URL: https://www.futuremarketinsights.com/reports/camping-and-caravanning-market
Competitive Landscape
Manufacturers are focused on integrating advanced technologies and using sustainable materials to increase sales in this sector. They are integrating high-tech technologies for the betterment of performance and catering to customers' growing needs. Major companies are collaborating and making new marketing strategies to acquire a wide customer base.
Recent Developments:
On July 25th, 2023, Sealvans, a Turkish startup established in 2020, began accepting orders for its amphibious caravans in Europe. These hybrid camper-boats, available in two sizes, offer seamless land and sea exploration for couples and families.
On August 21, 2023, Treehouse Hotels & Resorts, owned by Karma Hospitality, launched caravan parks in India. The first property, Treehouse Sunrise Resort and Caravan Park, Neemrana, located on the Delhi-Jaipur highway, aims to blend camping with resort luxury and comfort for business and leisure travelers.
Leading Camping and Caravanning Brands
ACCOR SA
Hilton Worldwide Holdings Inc.
International Palamos
Radisson Hotel Group
Haven Leisure Ltd
HIP camp
Selectcamp
Vacansoliel
ACSI Holding BV
Key Segments of Camping and Caravanning Market Report
By Destination Type:
State or national park campgrounds, privately owned campgrounds, public or privately owned land other than a campground, backcountry, national forest or wilderness areas, parking lots, and others are categorized in the camping and caravanning market.
By Type of Camper:
Car camping, RV camping, backpacking, and all types of camper in this industry.
By Consumer Orientation:
The segment is distributed to males, females, and kids.
By Age:
The sector is subdivided into 6-12, 13-17, 18-24, 24-44, and 45+ years.
By Region:
A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting' at the ET Inspiring Leaders Awards 2022.
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About Future Market Insights (FMI)
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