CAMPING AND CARAVANNINGMARKET - KEY RESEARCH FINDINGS
- The global camping and caravanning market will expand at a CAGR of 7.6% over 2020-2030.
- RV camping and backpacking segment likely to register growth during forecast period.
- Europe remains the largest shareholder in the global camping and caravanning market and the East Asian and South Asian regions are likely to register high growth rate
- Infrastructural and facility developments at camping grounds impacting the market positively.Rising disposable incomes resulting in increase spending in domestic holidays likely to fuel market growth.
- Increasing popularity of outdoor recreational activities likely to impact positively to the market growth.
KEY FACTORS THE GLOBAL CAMPING AND CARAVANNING MARKET:
Concept Of Caravan Tourism Is Gaining Popularity Owing To The Flexibility And Freedom It Provides:
Caravan tourism is gaining popularity across the globe due to the flexibility and freedom that it provides when it comes to accommodation on holidays. The caravans are popularly used for holidays and tours even in remote areas where finding proper accommodation becomes difficult. Currently, in many regions, wildlife and other adventure tourism is gaining popularity. Lack of insufficient accommodation is already a major problem in many remote areas, especially in the developing and underdeveloped countries. Such situations are likely to fuel the growth in the global camping and caravanning market.
The current COVID-19 pandemic outbreak has resulted in temporary production and supply chain disruption in the market. These disruptions have also resulted in longer lead times in the market. The pandemic outbreak will also see a temporary impact on the sales as the tourism industry is not active due to the temporary nationwide lockdowns imposed by the governments across different countries to prevent the spread of COVID-19.
Younger Generations’ Passion for Traveling Likely To Impact Growth Positively
Caravans are a unique product inthe tourism industry. Such a product attracts individuals from all segments like families, senior citizens, the young generation, and also passionate tourists that have made travel an important part of their life. The increasing desire for adventure traveling among the younger generation is contributing significantly to the growth of the market. Younger generations often like to get outdoor adventure trips and using a caravan is relatively cheap and flexible. This is likely to boost the demand for caravans in the global camping and caravanning market during the forecast period.
Increasing Government Initiatives to Support Expansionof Caravanning Tourism:
As the concept of caravan tourism gaining popularity the ministry of tourism of different governmentcountries are focusing on developing the caravan parks. Governments have issued policies that laid down specifications and guidelines as to park locations and designs and other specific requirements for the development of parks. These actions and development efforts are aimed at promoting the camping and caravanning industry. The tourism industry, especially in developing economies, is majorly focused on the development of caravanning tourism. This is likely to impact the market positively during the forecast period.
CAMPING AND CARAVANNING MARKET : STRUCTURE ANALYSIS
- Some of the market players are ACCOR SA, Hilton Worldwide Holdings Inc., International Palamos, Radisson Hotel Group, Haven Liesure Limited, HIP camp, TENTRR, Vacansoliel, Selectcamp, ACSI Holding BV, and others.
- The companies in the market are more focused on retaining customers. The companies are offering e-gift cards to their customers to promote customer loyalty towards their brands. One such example is Vacansoliel Company.
- Base year considered - 2020
- Actual estimates/Historical data - 2015 - 2019
- Forecast period - 2020 - 2030
- Forecast units - Value (USD) Bn
- Segments covered - Destination type, type of campers, consumer orientation, age and regions
- Regions covered - North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA)
- Key Players - ACCOR SA, Hilton Worldwide Holdings Inc., International Palamos, Radisson Hotel Group, Haven Liesure Ltd, HIP camp, Selectcamp, Vacansoliel, ACSI Holding BV and others.
- Market drivers -
- Improving lifestyles
- Restoration of heritage and camping sites
- Increasing popularity of adventure travelling in remote areas
- Report coverage - Revenue forecast, company share, competitive landscape, growth factors, and trends
RV Camping Showcase Significant CAGR of 11.2%
People across the word, especially in the U.K., have started living in caravans instead of houses, due to rapidly increasing house rent prices. This trend is expected to be prevalent in deprived areas of Bristol, attributable to the fact that the rent in the area has reportedly increased by an average of 33 per cent in previous years. The use of caravans and recreational vehicles is expected to increase across the globe, which in turn is expected to fuel growth of the camping and caravanning market across the globe.
The growing popularity ofRV campingamong young population worldwideis creating a significant CAGR of 11.2%in the market over the forecast period.Moreover, the use of caravans at events is significantly increasing, and is exhibiting rapid growth in Europe and North America. Events such as Caravan & Motorhome Show, The Scottish Caravan, Motorhome & Holiday Home Show, and others shows are anticipated to boost the demand for caravans globally, which in turn is expected to fuel the growth of the global camping and caravanning market during the forecast period.
Opportunities Abound in Developing Regional Markets
East Asiais anticipated to expand at a significant higher CAGR during the forecast period followed by South Asia in the global camping and caravanning market, as governments are permitting use of caravans in various developing countries such as India, China, Thailand, and others, which increases public participation in camping and caravanning activities.
Moreover, developing number of camping sites by government in developing countries that are allowed for various outdoor activities are anticipated to offer substantial growth opportunities for players in the global camping and caravanning market. This will drive thecamping and caravanning market in the developing countries at a substantial rateover the forecast period.
Increasing Interest in Glamping and Van Living Experiences Drives the Camping and Caravanning Market
The trends of ‘glamping’ and van life have altered the modern definition of camping, making the experience more appealing to younger generations. Due to the increasing popularity of ‘glamping,’ more and more people are trading in sleeping in a tent on cold, rocky ground for yurts and a comfortable bed.
These types of camping experiences allow customers an escape in the outdoors, without going so far as actually sleeping outside on the ground- a perfect balance of nature and comfort. Thus, people are increasing their spending on camping and caravanning active as a part of holiday recreation.This is one of the significant factors boosting the global camping and caravanning market in the near future.
How Growth will Unfold
The privately owned campgroundssegmentis projected to witness a substantial growth in the camping and caravanning market during the forecast period. This is attributed to increasing number of third party insurance providers for camping and caravanning, and introduction of insurance services by camping and carving companies boosts participation in camping and caravanning activities.
The flexibility of insurance policies offered by companies helps private enterprises to gain customers trust as well as reduces safety concern for camping and caravanning among customers. Moreover, offering tailor-made insurance services improves interest and participation in camping and caravanning activities. Thisintroduction of insurance services for camping and caravanning improves the influx of customerswill drives the growth ofcamping and caravanning marketin the near future.
CAMPING AND CARAVANNING MARKET TAXONOMY
The global camping and caravanning market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
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 yrs
- 13-17 yrs
- 18-24 yrs
- 25-44 yrs
- 45 + yrs
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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