Over the next decade, the global camping equipment market is poised for significant expansion, with a projected sales revenue surge from US$ 39.69 billion in 2022 to US$ 75.29 billion by 2031, indicating a robust growth trajectory with a CAGR of 7.5%.
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The market is offering a lucrative growth opportunity for the market players, owing to the increasing popularity of camping as a leisure activity. According to a report by the Outdoor Industry Association, over 47 million Americans go camping each year, and this number is expected to rise in the coming years. Similarly, in the UK, it is estimated that over 4 million people go camping each year. The number of people purchasing camping equipment has also been increasing as a result of the growing interest in outdoor activities. Camping equipment includes tents, sleeping bags, stoves, coolers, and various other accessories. The camping equipment market has been expanding, with an increasing number of people buying camping gear both online and offline.
Camping has become more popular due to various reasons such as the growing trend of wellness and mindfulness, as well as the desire for outdoor adventures and disconnecting from technology. Camping allows people to spend time in nature, breathe fresh air, and escape the hustle and bustle of city life. It also provides a cost-effective alternative to expensive holidays, making it an attractive option for families and individuals.
The most potential consumers of camping equipment market are outdoor enthusiasts, nature lovers, and adventure seekers. According to a survey by KOA, 53% of campers in the US are aged 18-44, while 31% are over 55. The younger demographic tends to prefer more lightweight and portable equipment, whereas the older demographic values comfort and durability. The average amount of money spent by a potential camper on camping equipment varies depending on the individual’s preferences and needs. However, it is estimated that a typical camping trip costs around $500 for a family of four, including equipment and campsite fees.
As per Astute Analytica, social media has had a significant impact on people’s decision to go camping, with many using it as a source of inspiration and information. A survey by Kampgrounds of America found that 38% of campers are influenced by social media when planning their trips. Platforms like Instagram and Pinterest have become popular sources of inspiration, with users sharing pictures and stories about their camping experiences.
Occasional Campers Preferring to Rent their Camping Equipment Rather Buying New
A recent study by Astute Analytica on the global camping equipment market found that renting camping equipment is becoming more popular in developing countries, particularly among millennials seeking unique and adventurous experiences. The study surveyed 500 consumers in developing countries, including India, China, Brazil, and Mexico, and found that 70% of respondents prefer renting over buying camping equipment due to affordability (46%), convenience (32%), and lack of storage space (22%).
The high cost of equipment is a major reason why renting is preferred, as many consumers cannot afford expensive items like tents, sleeping bags, and stoves. Renting also offers convenience, allowing consumers to select from a variety of equipment based on their needs and preferences, while eliminating the need to worry about maintenance, repair, or cleaning. This trend presents an opportunity for camping equipment rental companies to provide affordable, high-quality services to a growing market.
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Camping Furniture is Highly Popular Among Commercial End Users and Generate More than 25% Revenue of Camping Equipment Market
The camping equipment market is seeing a rise in popularity among commercial end-users who are looking to offer a comfortable and luxurious camping experience to their customers. Among the different types of camping equipment, camping furniture is highly popular among commercial end-users, accounting for more than 25% of the market share. This is driven by the growing trend of glamping and luxury camping, where consumers seek a more comfortable and convenient outdoor experience.
Camping furniture includes chairs, tables, and other accessories that provide convenience and comfort to campers. The demand for camping furniture is driven by the growing trend of adventure tourism and outdoor experiences, particularly among younger generations. As a result, commercial end-users such as campsites, resorts, and adventure tourism companies are investing in high-quality camping furniture to attract and retain customers. Astute Analytica’s study by end user suggests that more than 59% of camping equipment are likely to purchase by commercial users of the camping equipment market in the years to come.
The market is also seeing a rise in demand for innovative and sustainable camping furniture that is not only comfortable and convenient but also environmentally friendly. Companies that offer such products are well-positioned to capitalize on this trend and succeed in the market. In conclusion, camping furniture is highly popular among commercial end-users, and companies that cater to this segment with innovative and sustainable products are likely to thrive in the market.
Global Camping Equipment Market is Consolidated with Top 4 Players Hold Over 68% revenue Share, Decathlon Leading the Charge
The market is highly consolidated, with the top four players accounting for more than 68% of the revenue share. According to Astute Analytica, Newell Brands Inc and Decathlon are the largest players in this market. Decathlon, in particular, leads the charge with more than 24% of the market share.
Decathlon is a French sporting goods retailer that offers a wide range of camping equipment and outdoor gear. The company has a presence in over 70 countries and operates more than 2,080 stores worldwide. Decathlon’s growth strategy revolves around innovation, sustainability, and customer satisfaction. The company invests heavily in research and development to bring new and innovative products to the market, with a focus on sustainability and environmental responsibility.
In terms of operative countries, Decathlon has a significant presence in Europe, Asia, and South America camping equipment market. The company has expanded rapidly in recent years, opening new stores and entering new markets. In 2022, Decathlon reported sales of $12.8 billion. The company’s revenue growth is driven by its strong brand recognition, wide product range, and competitive pricing.
Decathlon’s success can be attributed to its unique business model, which allows the company to offer high-quality products at affordable prices. The company designs, manufactures, and distributes its own products, eliminating the need for middlemen and reducing costs. This enables Decathlon to offer products at prices that are significantly lower than those of its competitors.
Some of the Top Market Players Are:
- ADL-Tent LTD.
- AMG Group
- Big Agnes Inc.
- Cabela’s Inc
- Cascade Designs
- Decathlon
- Eureka!
- GCI Outdoor
- Montbell Co. Ltd
- Nemo Equipment Inc.
- Newell Brands Inc.
- Nordisk Company A/S
- Sierra Designs
- Other Prominent Players
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