Industrial Tourism Market

Industrial Tourism Market Outlook (2023 to 2033)

The industrial tourism market size would reach US$ 1,663.6 million in 2023. It would surpass US$ 18,739.3 million by 2033. From 2023 to 2033, it would escalate at a CAGR of 27.4%.

Strategic collaborations between direct suppliers in the industry has paved the way for innovation. It is attributed to presence of combined resources of these partners.

On the other hand, relations between indirect suppliers reflect transactional operation. Deliveries and services are becoming increasingly dependable. Owing to such factors, the market is experiencing a steady rise.

Information transactions are rising between direct and indirect suppliers. These are acting against performance and risk management issues. They are also enabling players to strategize on spending.

Industrial tourism emerged in the 90s. It is gradually expanding its horizon across the globe. Domestic industrial tourism alone is presenting itself on an entirely new stage.

As per a new report by Future Market Insights, there were more than 1100 industrial destinations for tourists to visit. These attracted more than 5 million people from all over the world.

Undoubtedly, industrial tourism has become a vital part of development of the tourism industry. It would also help to expand the nation’s economy.

Industries are mainly set up in urban locations. With transformative advancement in industrialization, industrial tourism is on the high rise. It is also attributed to constantly changing demand concerning tourism.

When it comes to tours, industrial tours are the one sector that is often overlooked. Industrial landscapes have been regarded as associated with untidy locations.

They have chimneys emitting black smoke, workers in bad states, and machines with a lot of stinks & rust. Hence, industrial tourism was rewarded as untidy and disliked overall.

Curious concerns and zest to find answers on the functionality of urban space utility attracted several tourists in the historical period. Knowledge enthusiasts started moving toward industrial heritage sites to gain in-depth insights. It further gave rise to turning cultural sites into industrial heritage sights.

For instance, the Warsaw Project saw renewal of post-industrial heritage into new functions. It is surrounded by the Norblin Metallurgic Plant Housing Estates. It is considered as an implementation of rehabilitation.

It is a project from formerly devastated industrial areas. It has a high potential for cultural tourism. It involves industrial growth and expansion. It would help to create new opportunities for key companies in the next ten years.

Attribute	Key Insights
Industrial Tourism Market Estimated Size (2023E)	US$ 1,663.6 million
Projected Market Valuation (2033F)	US$ 18,739.3 million
Value-based CAGR (2023 to 2033)	27.4%
Collective Value Share: Top 5 Countries (2022A)	30% to 35%

2018 to 2022 Industrial Tourism Sales Outlook Compared to Demand Forecast from 2023 to 2033

Nowadays, tourist boards and individual companies are promoting industrial tourism. They are equipped with details since it gives them the edge to present it as part of a tour visit.

It will spike the number of bookings, which will ultimately contribute to the nation’s economy. Industrial tourism also serves as an opportunity in the education field. In this field, students want to be well-informed regarding a particular industry.

Industrial visits can also contribute to increasing the nation’s revenue and economy. It helps to be associated with entrance tickets, souvenirs, or added expenses for accommodation & food. The factor would hence positively contribute to the economy.

Push of tourist boards and initiatives by governments to expand tourism would drive demand. The global industrial tourism market exhibited around -14.6% CAGR during the historical period between 2018 and 2022. As per Future Market Insights (FMI), the sales in the market reached a valuation of US$ 1,338.4 million in 2022.

Comparative View of Adjacent Industrial Tourism Market

Industrial Tourism Market:

Attribute	Industrial Tourism Market
CAGR (2023 to 2033)	27.4%
Market Value (2023E)	US$ 1,663.6 million
Growth Factor	Increasing need among students to know more about how a product is made and which ingredients are required would drive sales.
Key Trend	Ability of industrial tours to provide first-hand experience of the manufacturing process of a particular product would augment demand.

Rural Tourism Market:

Attribute	Rural Tourism Market
CAGR (2023 to 2033)	6.8%
Market Value (2023E)	US$ 102.7 billion
Growth Factor	Increasing awareness about exotic and unique cultures would push sales.
Key Trend	People staying in urban areas would look for rural tourism to escape from highly polluted areas for a few days.

Space Tourism Market:

Attribute	Space Tourism Market
CAGR (2023 to 2033)	38.6%
Market Value (2023E)	US$ 678.3 million
Growth Factor	Declining costs of space exploration packages would create new opportunities for service providers.
Key Trend	Expansion of the adventure tourism sector would push demand for space tour packages.

Key Industrial Tourism Market Trends

Turning Production Sites into Tourist Attractions to Popularize Government Tourism Packages

• In the early 20th century, tourists were very much interested in getting to know about how the industry works.
• Automobile factories of Henry Ford in Detroit for instance, were where the industrial visit was introduced.
• Later on, G Ford understood the benefit that comes with industrial tours.
• It is becoming the need of the hour for more than just exposure, especially for students.
• In fact, there are numerous production sites and plants that exist.
• Governments have turned them to tourist attractions where people can visit.
• They can get insights and engage in using utilities provided by the industry.
• It will give a boost to the nation’s economy.
• These initiatives will drive more industries and sectors to indulge into the practice. It would hence expand industrial tourism demand by 2033.

Personalized Package Tours for Industrial Visits to Gain High Popularity

• Industrial visits are done either individually or in groups.
• But, various programs for industrial visits can be personalized as per the need and requirement.
• These types of personalized industrial visits are on the rise.
• For instance, industrialtour.com in collaboration with Britannia, Amul, Bajaj, Cipla, BHEL, Infosys, and Mahindra, is providing personalized industrial tours.
• It is providing tours separately for different states or even cities in India to be precise.
• For example, Goa industrial visit, Pune industrial visit, and Sikkim industrial visit.
• The company aims to offer tourists information about a particular city’s industrial places that have rich historic backgrounds.
• Also, Funiskool Educational Tours company provides personalized tour packages and specialty tours,
• For instance, NASA tour packages and tours in remote cities such as Kesariya, Odisha, Ranchi, & Nalanda are offered by the company.
• These kinds of tours are personalized.
• They hold a deep historical value, which gives great exposure to all the students taking industrial tours.

Country-wise Insights

Why is Industrial Tourism Demand Skyrocketing in Germany?

Expansion of Industrial Heritage Tourism Sector in Germany to Bolster Demand

Reconstruction is considered to be a key characteristic of economic development. Its perspective on a regional level is helping the industrial tourism market to strive.

Traditional industrial areas in Germany have launched various initiatives in the industrial heritage tourism field. It is the act of constantly restoring and exploiting old industrial sites.

It also features turning them into touristic sites as a useful strategy for regional renewal. It is seen as an important and interesting new combination. But, it could also be re-used for other economic activities with tourism. It is attributed to a slight limitation toward regional reconstruction.

How is the Government of India Promoting its Industrial Tourism Sector?

India to Offer Industrial Hospitality Services to Promote Globally Acclaimed Factories

As a first-time initiative in India, the Gujarat state government prompted various tour packages. It started offering tourism packages for visiting industrial areas that are globally acclaimed.

Alang Ship breaking yard in Bhavnagar, Amul Dairy in Anand, and Tata Nano Plant in Sanand are a few examples. Gujarat is providing an exclusive offer called Gujarat’s Industrial Tour.

Akshar Travels Pvt Ltd., for instance, joined hands with TCGL. Both companies are promoting the tour on their website. Tourists can select from the places available.

It is promoting and showcasing industrial development. It is also contributing toward an economic boost of the country.

How is China Diversifying its Industrial Tourism Sector?

China to Combine Industrial Heritage Resources with Cultural and Creative Industries

China is encouraging the development of industrial tourism in the country. It is supporting the country’s old industrial cities as a part of tourism development. It is turning old industrial sites and plants into film studios.

For instance, the country is introducing a new type of industrial cultural tourism. It combines both education and entertainment.

The initiative to blend industrial heritage along with modern business would drive the market. The country is also turning old facilities into functional industrial parks. It is focusing on attracting movie producers and crew.

Category-wise Insights

Which Age Group is More Likely to Opt for Industrial Tourism?

Students belonging to the Age Group of 16 to 25 Years Prefer Industrial Heritage Tourism

Industrial tours serve as an area of interest for tourists and enthusiasts. But, students from all across the world are becoming part of industrial tourism.

Industrial tours enhance their reach and exposure. They can have a hand-on experience as to how the future of any industry looks like.

Interactions that they have with industry experts would also help to choose their career options. Schools and colleges often organize industrial tours to certain factories or company premises. It would help them to increase knowledge about technologies and provide new opportunities in terms of career.

Which Booking Channel do Tourists Prefer Worldwide?

Online Booking Channels to Witness High Demand for Industrial Travel by 2033

Millennials and students have aligned their goals of travel with new upcoming trends. Industrial visit, for instance, is considered to be of utmost preference.

It has been the core of rich culture and historic excellence with scope for further exposure. To have such experiences, lots of planning is required.

Right from booking tickets for travel and accommodation to add-on services, guidance is needed in each step. That is when travel and tourism agencies & online bookings ease their experience with personalized options.

The industrial tour industry is mainly a reservation-based system. It makes it easy for people or colleges to do bookings for tour packages at their ease online.

Online travel agencies make it convenient to access all the required information before initiating the booking. The whole process is automated.

Confirmation and cancellation of all services becomes smooth. This is why people mainly prefer to book industrial tour packages online.

Competitive Landscape

Established players in the industrial tourism sector are executing differentiating strategies to capture high share in the competitive landscape. Key players are formulating on keeping all the aspects of their services and channel support in-house. They are trying to ensure that customers receive value on their spending.

Indirect suppliers are pacing their support channel to fulfill various needs in accordance with partnering direct service providers. Increased trend for partnerships and collaborations between suppliers across the industry would boost the industrial tourism industry in a progressive manner.

For instance

• In January 2023, vineyards in Nashik announced their plans to recreate the Napa Valley experience in India. India lacks a culture where wine has been a mainstay for generations. It also does not have the endless, beautiful vineyards of Bordeaux, Tuscany, or Napa Valley. Hence, wine tourism specialists are creating customized itineraries for vineyard tours, food pairing, and wine tasting sessions.

Scope of the Report

Attribute	Details
Estimated Market Size (2023)	US$ 1,663.6 million
Projected Market Valuation (2033)	US$ 18,739.3 million
Value-based CAGR (2023 to 2033)	27.4%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value (US$ million)
Key Countries Covered	USA Canada Brazil Mexico Germany United Kingdom France Spain Russia India China Japan Malaysia Singapore Australia United Arab Emirates Kingdom of Saudi Arabia Italy Qatar Oman Rest of the World
Key Segments Covered	By Direct Suppliers By Indirect Suppliers By Number of Bookings Demographic Nationality Booking Channel Regions Tour Type Tourism Type Age Group Region
Key Companies Covered	American Express Global Business Travel World Travel Inc. Ovation Travel Group Omega World Travel Priceline Group
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives

Industrial Tourism Market by Category

By Direct Suppliers:

• Airlines
• Hotel Companies
• Car Rental
• Train
• Tour Operators
• Government Bodies

By Indirect Suppliers:

• Online Travel Agency (OTA)
• Traditional Travel Agencies
• Travel Management Companies (TMCs)
• Corporate Buyers
• Aggregators

By Number of Bookings:

By Age Group

• Under 15
• 16 to 25
• 26 to 35
• 36 to 45
• 46 to 55
• Over 55

By Tourism Type:

• Work Watching
• Factory Tours
• Mine Tours
• Farm Tours
• Wine Tours
• Parliament Tours
• Tours of Specific Company Premises
• Factory Visits by Business Tourists

By Demographic:

• Male
• Female
• Kid

By Nationality:

• Domestic
• International

By Booking Channel:

• Phone Booking
• Online Booking
• In-Person Booking

By Tour Type:

• Individual Travel
• Professional Group
• Group Travel

By Country:

• USA
• Canada
• Brazil
• Mexico
• Germany
• United Kingdom
• France
• Spain
• Russia
• India
• China
• Japan
• Malaysia
• Singapore
• Australia
• United Arab Emirates
• Kingdom of Saudi Arabia
• Italy
• Qatar
• Oman
• Rest of the World

Frequently Asked Questions

What was global industrial tourism industry size reported by Future Market Insights for 2022?

The global industrial tourism industry was valued at US$ 1,338.4 million in 2022.

What size is the industrial tourism industry estimated to reach in 2023?

The global industrial tourism industry would to reach US$ 1,663.6 million by the end of 2023.

What is the industrial tourism industry valuation expected for 2033?

The global industrial tourism industry would reflect a valuation of US$ 18,739.3 million by 2033.

What CAGR did the industrial tourism industry exhibit over the last 4 years?

The global industrial tourism industry witnessed a CAGR of -14.6% during the historical period between 2018 and 2022.

What is the projected CAGR for the industrial tourism industry from 2023 to 2033?

The global industrial tourism industry would exhibit a CAGR of 27.4% during the forecast period between 2023 and 2033.

Which tourism type segment will garner a significant value share by 2023?

Based on tourism type, the factory tours category will reflect a significant value share by 2023.

Which tour type segment is predicted to expand rapidly between 2023 and 2033?

Professional group category by tour type would expand with a substantial CAGR of 32.8% during the forecast period.