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. The market is expected to reach USD 133.05 billion by 2030 with 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. The trend and need for leisure activities in the young population are augmenting the market growth. The habit of traveling 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.”
COVID-19 Impact:
Pandemic Created Gaps Between the Supply and Demand
The pandemic affected camping equipment due to the shutdown of various cordons and shutdowns which reduced the demand of consumer goods. The pandemic created gaps between the supply and demand of basic ingredients which are used for the manufacturing of trekking accessories and equipment. Various companies launched their own e-retailing portals to increase their customer reach and captured a competitive market position, amid the pandemic
Key Companies Covered in Camping Equipment Market
- 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)
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 Recreational Activities To Drive Market Trajectory
An increasing number of recreational activities are anticipated to drive camping equipment market growth. Rising disposable income levels of 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 help in the reduction of stress, help in the improvement of the health of the consumers, and personal development and growth in the long run.
However, rising costs of transportation have led to an increase in the inflation rate, consuming a large portion of consumers on these types 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 the camping equipment market share due to the presence of established market players in the U.S. Availability of a wide range of brands in travel or camping gear and accessories and kits and demand for luxury and premium travel accessories products.
Europe is also expected to be the second dominant region owing to various stakeholders and members of the tourism sector has initiated many projects and travel packages at an affordable price for the consumers.
Asia Pacific is anticipated to have significant growth with the prevalence of camping representing an increase of the youth in outdoor games and events.
Competitive Landscape
Companies Have Been Collaborating Amongst Each Other To Gain Market Share
Key market players have been launching new products depending upon the need for customization and trekking taken up by the people. Diverse weather conditions, tracks, and other factors have been influencing the application of different trekking products increasing the need for customized and high-durability products which led to the launch of customized trekking goods which 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 guides, instructors, and members by providing insulated jackets.
Key Industry Development
- June 2022- Big Agnes announced the launch of the 3N1 sleeping bag range which is made up of two distinct sleeping bags which can be combined to offer a deluxe sleep that is temperature-monitored according to different conditions.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/camping-equipment-market-104508
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