Camping Equipment Market - Growth, Trends, and Forecasts (2023 - 2028)

Camping Equipment Market - Growth, Trends, and Forecasts (2023 - 2028)

The camping equipment market is valued at USD 15,014.25 million in the current year and is projected to register a CAGR of 6.68% over the next five years.

COVID-19 affected the camping equipment market drastically, and the demand for camping equipment declined due to specific rules and regulations imposed by governments across several nations worldwide to curb the spread of the virus. These rules have resulted in a reduction of travelers by volume. The closing of tourist places also significantly impacted the camping market. However, during the third quarter of 2021, many of these places were reopened to accelerate the economic growth rate of different countries. Thus, this phase resulted in more travel by people to several destinations, which boosted the camping equipment market.

Vendors are introducing camping equipment that ensures higher safety and comfort level in terms of the material's size, weight, and quality. They have also started developing a type of insulation intended to protect consumers from extreme climatic conditions.

Several camping organizations and service providers like the American Hiking Society, the NorthEast Campground Association, BYM Camps, and more are introducing camping programs targeted at different age groups to attract new campers. In addition, with the rising awareness about environmental preservation, demand for eco-friendly camping equipment is on the rise. Thus, vendors are introducing eco-friendly equipment to differentiate and expand their product lines. Such innovations in camping equipment may increase the sales during the forecast period.

The increasing participation in outdoor recreational activities is a significant factor that drives the growth prospects of the market. Factors such as changes in lifestyle and attitudes, demographics, increasing recreational expenditure, and the physical and mental benefits of outdoor activities inspire consumers to engage in outdoor activities. Due to the increased urbanization and working population, people find it difficult to give time to their families and friends. Thus, camping on weekends helps them connect with their families and friends. Outdoor activities also help maintain a proper work-life balance. Camping is becoming a popular recreational activity, including camping in cars or tents, recreational vehicles, or the backyard, as it helps the body release higher levels of serotonin, a naturally produced neurotransmitter that helps regulate mood, appetite, and sleep. Serotonin also improves cognitive functions such as memory and learning. According to the report published by the North American Camping Club in April 2022, camping accounts for 40% of leisure travel trips, and 36% of people go camping at least once a year in North America. The report also states that, in 2021, 66% of people preferred to camp in tents, while 82% of people bought RVs, i.e., recreational vehicles for camping.

North America accounted for the largest share of the camping equipment market, with United States being the major market, followed by Canada and Mexico. The increased number of consumers demonstrating their interest in camping has further propelled spending on camping equipment. For example, according to KAO's monthly report published in January 2022, 70% of people who went camping in 2021 planned to camp again in 2022. Due to the fast lifestyles and busy schedules, spending time with families via camping was one of the most favorable options chosen by North Americans. For example, in 2021, Canada contributed 64% of camping incidents, according to the North American Camping Club report. Numerous brands in the camping equipment industry are also penetrating this market, thus increasing their sales revenue. For example, Decathlon, one of the fastest-growing brands, conquered the camping equipment markets worldwide, including Mexico. The brand offers a range of camping products in Mexico, including tents, sleeping bags, mattresses, chairs, cooking wear, and other camping accessories. This factor has propelled the market's growth significantly across the country.

The camping equipment market is competitive, and the major players are focusing on innovating their offerings through new product development and expansion to widen their presence worldwide and cater to various preferences of consumers.​ The most active companies in the market include Zempire Camping Equipment, Newell Brands, AMG Group Ltd, Exxel Outdoors LLC, and Montbell Co. Ltd.​ In terms of strategies adopted, product innovation captured a major share and remained the most preferred strategy adopted by the leading market players. Companies are expanding their product lines and portfolios geographically, which helps them gain a competitive advantage over other players. Technical advancement was another key factor in product innovation.

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