Global Camping Equipment Market Expected To Reach USD$ 5.22 Billion By 2020 With A CAGR Of 4.45%

Date: 2016-09-18

The major drivers of camping equipment are increasing recreational expenditure, changing lifestyle, and rising participation in outdoor recreational activities. Aging population and early retirement also will drive the industry as early retirement will give people more time for outdoor recreational activities. Growing health benefits of outdoor activities are also projected to give new shape to the camping equipment market during the next decade. Despite various challenges, the market for camping equipment is expected to grow over the forecast period.

The global Camping Equipment market was estimated at USD$ 4.2 billion in 2015, and is anticipated to reach USD$ 5.22 billion by 2020, expanding at a CAGR of 4.45% between 2016 and 2020. Increasing participation in outdoor recreational activities is a key factor driving this market. This, in turn, is expected to bolster the sale of camping equipment further promoting the growth of this market.

By 2020, the tents segment will account for almost 35% of the overall market share to become the dominant shareholder in the global camping equipment market. From traditional designs, tent designs have evolved in terms of aesthetic appeal, shape, set-up, roominess, and privacy offered. For instance, the Vango Inspire 600 Airbeam is one such innovative design that provides multiple bedroom options. The projected increase in the demand for ultra-lightweight tents and instant tents is anticipated to drive the growth of the global camping tents market during the forecast period.

North America accounted for more than 40% of the market share in 2015. The growing interest in outdoor recreational activities among the youth and consumer preference for traditional camping are the major reasons for an increase in camping activity in the region. The report anticipates this region to retain its market leadership until 2020. The US, a key market for outdoor camping, witnessed the number of campers grow over 45 million in 2015. Innovations and advances in camping equipment manufacturing coupled with the need to replace old equipment on account of excessive wear and tear are other key factors accelerating the growth of this market. Online retailing and increased demand for eco-friendly camping equipment is expected to boost the market sales through 2020.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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