NEWARK, Del, Nov. 07, 2022 (GLOBE NEWSWIRE) -- As per a recent market analysis by Future Market Insights (FMI), the global camping and caravanning market is predicted to grow at a healthy CAGR of 7.6% from 2020 to 2030. The escalating popularity of outdoor recreational activities will likely drive the growth of the camping and caravanning market during the forecast period.
The development of infrastructure and other facilities on camping grounds and surging disposable incomes which results in more spending on domestic holidays will further aid the target market growth in the upcoming years.
In the past few years, caravan tourism is gaining traction across the world owing to the flexibility and freedom that it provides regarding accommodation on holidays. The caravans are even used for holidays and tours in remote areas where finding accommodation can be difficult.
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Nowadays, in many areas of the globe, wildlife and other adventure tourism are swiftly rising in popularity. Since lack of proper accommodation or insufficient accommodation can be a problem for the tourism sector of many developing and underdeveloped countries, governments of these countries are specifically working to support a camping environment as it would ultimately benefit the tourism sector of that nation. These aspects are likely to fuel the growth in the global camping and caravanning market.
With the growing popularity of the concept of caravan tourism, the ministry of tourism of different governments across the globe are focusing on developing caravan parks. Multiple governments have implemented policies that laid down specifications and guidelines as to park locations and designs and other detailed requirements for the development of these parks. These efforts are expected to foster the growth of the camping and caravanning industry during the forecast period.
“Escalating popularity of glamping and rising interest in van living experiences will spur the global growth of the camping and caravanning market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Europe’s camping and caravanning market will hold the largest portion of the global market share.
- East Asia, followed by South Asia, will register the highest CAGR during the forecast period.
- The RV camping segment will grow at 11.2% CAGR during the assessment period.
- The backpacking segment will present considerable growth during 2020-2030.
Competitive Landscape
ACCOR SA, Hilton Worldwide Holdings Inc., International Palamos, Radisson Hotel Group, Haven Liesure Limited, HIP camp, TENTRR, Vacansoliel, Selectcamp, ACSI Holding BV among others are some of the major players in the camping and caravanning market profiled in the full version of the report.
Key market players are focusing on strategies that will enable the retention of their consumer base. These participants are offering gift cards to foster consumer loyalty.
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More Insights into Camping and Caravanning Market Report
In its latest report, FMI offers an unbiased analysis of the global camping and caravanning market, providing historical data from 2015 to 2019 and forecast statistics for 2020 to 2030. To understand the global market potential, growth, and scope, the market is segmented on the basis of 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, others), type of camper (car camping, RV camping, backpacking, all), consumer orientation (male, female, kids), age (6-12 years, 13-17 years, 18-24 years, 25-44 years, 45 years+), and region.
According to the latest FMI reports, based on segmentation, the privately owned campground segment is expected to perform well during 2020-2030. This segment will achieve significant growth due to a rise in the number of third-party insurance providers. In addition, the RV camping segment is predicted to demonstrate a CAGR of 11.2% during the forecast period.
Based on region, the camping and caravanning market in East Asia, followed by South Asia, will witness a substantially higher CAGR during the assessment period. This is because the governments in these regions, particularly in countries like India, Thailand, and China, are supporting the use of caravans.
The countries in these regions are also focusing on developing camping sites that allow different outdoor activities which bode well for the overall market growth. Apart from East and South Asia, Europe will continue to remain the largest shareholder of the global camping and caravanning market during the projected period.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Global Number of Participants
1.3. Number of Outings
1.4. Average Outings
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Scope
3. Tourism Industry Overview
3.1. Travel & Tourism Industry Contribution To Global GDP
3.1.1. By Spending Type
3.1.2. Domestic v/s Foreign
3.1.3. Direct, Indirect, and Induced
3.2. Travel Sector Contribution To Global Overall Employment
3.3. Travel & Tourism Growth Rate
3.4. Foreign Visitor Exports As Percentage of Total Exports
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