The global camping and caravanning market will grow at an impressive CAGR of 7.6% during the forecast period (2019 – 2029). Growing popularity among youth, coupled with favorable initiatives by regional governments is playing catalyst in boosting the market.
Moreover, increasing safety & security norms in major regions are enabling camping enthusiasts to travel and is improving scope of tourism, further propelling the growth of global camping and caravanning market.
Global Camping and Caravanning Market – Key Takeaways
- Owing to security concerns, state and national park campgrounds will remain the most popular destination type.
- Car camping contributes the most to revenue while RV camping witnesses a tremendous growth at CAGR of 11.2%.
- Mid-age group (25-44) continues to stay forefront in the camper-demography due to earning capacity.
- Camping and caravanning activities to gain significant traction from the younger age group (18 – 24), which is growing in market demography.
- Europe continues being the leading camping and caravanning regional market while North America remains the second most lucrative market.
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Global Camping and Caravanning Market – Key Driving Factors
- Governments of developing countries such as India, China, Philippines, and Thailand are permitting use of caravans, and are significantly investing in developing their heritage, camping sites and the associated infrastructure.
- East Asian region would thus witness an upsurge in the camping and caravanning activities, thereby fueling the market growth.
- Accompanied by technology-driven customer services and discount offers, privately owned camping grounds will witness higher incoming of campers.
Global Camping and Caravanning Market – Key Constraint
- The unavailability of quality camping spots during high seasonal demand is a major issue.
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Camping and Caravanning Market Analysis 2019-2029
A recent market study published by Future Market Insights on the camping and caravanning market offers global industry analysis for 2014-2018 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
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