Total market sales for Survival Tools are to increase at a strong 7.8% CAGR during the forecast period, reaching USD 1,207.8 million in 2023. The survival tools market is being driven by the increasing emphasis on safety when engaging in outdoor recreational activities.
By 2033, the market valuation is expected to be USD 2,558.1 million. The current expansion, which is being fueled by a rise in accidents and unintentional injuries globally, was examined by the survival tools industry study.
Growing adoption of survival gear at popular tourist destinations to boost market expansion further. Global natural disaster frequency increases may boost the need for practical survival equipment. Survival tool sales to surge as a result of the implementation of necessary safety measures in the manufacturing and industrial sectors for the protection of workers.
The steady uptake of the market, owing to the increasing incidence of natural disasters such as earthquakes, floods, and cyclones, is one of the key factors for this shift in growth rate. Governments in several countries are increasing their spending in disaster-prone areas to improve the availability of survival gear and kits.
Attributes | Details |
---|---|
Survival Tools Market CAGR (From 2018 to 2022) | 5.15 |
Survival Tools Market CAGR (From 2023 to 2033) | 7.8% |
Survival Tools Market Size (2023) | USD 1,207.8 million |
Survival Tools Market Size (2033) | USD 2,558.1 million |
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Future Market Insights foresees a comparison and review study of the market dynamics, which influenced many industry-specific elements as well as a few clear influences on attitudes that foster industry innovation.
Some survival tool manufacturers have recently expanded their product portfolios to include products from small categories and businesses that deal in survival equipment and have a strong emphasis on marketing initiatives.
Compared to the consistent 5.15% CAGR recorded between 2018 and 2022, the demand for survival tools is likely to record a 7.8% CAGR from 2023 to 2033.
A survival crisis requires the adoption of survival tools. Supplies include a first aid kit, a flashlight, a knife, and other things. They are used during severe weather events, including cyclones, earthquakes, floods, and heavy rain.
Sales of survival tools are driven by growing demand for multipurpose survival tool kits that comprise food, water, sanitary bags, and first aid kits. Depending on the intended usage, manufacturers are releasing survival equipment and kits in duffel bags, buckets, and backpacks.
Sales of survival tools may augment as a result of the increased focus on worker safety in sectors like building and construction, chemical, electrical, energy, oil & gas, and mining.
During the projected period, the application of safety requirements across the industrial sector may continue to drive survival tool sales.
Natural disasters such as earthquakes, floods, and cyclones are becoming more common around the world. Having an effective survival tool kit is critical during such a catastrophe. Natural catastrophes affect roughly 60,000 persons worldwide, according to Our World in Data figures.
Natural disasters have killed 0.1% of people in the last decade. The figure varies, ranging from 0.01% to 4%. Droughts and floods are the two most lethal natural disasters. Yet, substantial fatalities occur during earthquakes.
These disasters have a huge impact on economies with limited disposable income. When there are not enough infrastructures to respond to these catastrophes and safeguard people, many deaths occur in low- or middle-income economies often.
Survival tool sales in the market are predicted to increase during the forecast period as a result of rising investments made by governments in various nations to increase the accessibility of survival kits and tools in disaster-prone areas.
After the pandemic, people are turned towards outdoor recreational activities, especially millennials and Gen Z. To avoid becoming stranded in uncomfortable circumstances in distant regions.
Consumers are looking for effective and multipurpose survival tool kits that include utilities, food, and water, as well as portable charging systems and other emergency supplies.
Sales of survival kits for use in emergencies may also increase as a result of the implementation of strict safety regulations at tourist destinations, beaches, lakes, rivers, hills, and mountains. Also, consumers are engaging in outdoor recreational activities, including trekking, deep-sea diving, river rafting, and hiking, which predict to open up opportunities for growth in the survival equipment market.
Survival tools are necessary for a variety of places and situations, including military and defense, hiking, and others. When survival equipment is carried for a variety of purposes, such as camping, traveling, or sporting events, it is difficult to maintain the things in a kit due to their limited size and weight.
To avoid danger, many end-users demand survival equipment and all necessary products to protect them from injuries and unexpected mishaps. Conventional survival toolboxes are made of metal rust which is also hard to carry and lift.
Users should be conscious of their needs concerning their jobs and other activities. This can cut down on the extra goods carried along with their survival gear. In light of these restrictions and the difficulty for suppliers in determining the best survival tool mix for a given application, the survival gear market growth over the projected period may constrain.
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Category | Product Type |
---|---|
Sub-category | Pocket Tools |
Market Share | 27.4% |
The global survival equipment market is categorized into shovel survival tools, ropes survival tools, compasses survival tools, pocket tools, hatchets, and first aid kits based on product. According to the survey, demand for pocket tools stays high since they are tiny, versatile, easy to carry, and accessible in remote regions, providing individuals with effective safety.
Throughout the projected period, the pocket tools segment may gain a significant proportion of the survival equipment market. Pocket tools are small and include all the resources required for survival in an emergency. They are inexpensive and convenient to transport to and from work and other activities.
Pocket tools are affordable and come with a belt knife, pistol, flashlight, and emergency medical supplies. The expansion of the pocket tool segment in the worldwide survival tools market is aided by the accessibility of vital items, the portability of pocket tools, and their small size.
The stainless steel survival tools, aluminum survival tools, and wood and plastic market segments for survival tools are found globally. Due to their many advantages, including anti-corrosion, durability, and minimal maintenance requirements, stainless steel survival tool sales are estimated to pick up during the projection period.
Category | Application |
---|---|
Sub-category | Hiking Activities |
Market Share | 37.0% |
Hiking activities, hunting and fishing, camping activities, and other wilderness activities comprise the global survival tools market. The hiking activities segment is to rise due to growing interest in leisure activities and increased demand for accessible survival items in mountains and hills.
The hiking segment growth is ascribed to the growing popularity of outdoor activities among people all over the world. Busy and stressful lifestyles, combined with a surge in leisure enthusiasts selecting outdoor activities, pave the way for increased hiking participation rates.
Country | Market Share |
---|---|
United States | 79.4% |
India | 35.5% |
China | 42.6% |
Germany | 20.4% |
Japan | 35.5% |
Australia | 53.2% |
Growing Popularity of Outdoor Recreational Activities is Driving up Sales of Survival Tools.
Demand for survival equipment and a kit in the United States is likely to increase throughout the forecast period, owing to increased engagement in outdoor recreational activities. The United States market may account for 79.4% of the global market between 2023 and 2033.
People in the United States are investing in effective survival equipment and kits to ensure their safety while outside, particularly on beaches, lakes, rivers, and mountains. The growing popularity of group trekking, mountain climbing, and river rafting in the United States enhances sales of survival gear.
Increasing Use of Survival Equipment and Kits at Tourist Attractions in the United Kingdom May Drive Growth
Germany may emerge as a profitable pocket throughout the forecast period due to a large influx of tourists. According to FMI, Germany may have 20.4% of the survival equipment market during the predicted period.
The increasing use of survival gear and kits in hotels, resorts, and restaurants near natural bodies such as lakes, rivers, and mountains is pushing market sales. Furthermore, manufacturers are launching multipurpose survival kits in partnership with hotel and resort chains to give travelers with best safety equipment, which may boost the survival gear market growth.
Demand for Survival Tools is Rising in China as Workplace Safety is Given More Attention
During the evaluation year, steady growth in survival tool sales was seen in China. Through 2033, China may hold a 42.6% survival gear market share.
Industries like oil & gas, energy, and mining are experiencing high production outputs, expanded workforces, and a lack of security as a result of the industrial sector's notable rise.
These sectors are vulnerable to man-made catastrophes like explosions, prolonged power outages, and fires caused by technical errors. This is leading to a focus on workplace safety to increase sales of survival gear in the years to come.
Leading survival tool manufacturers in the global market are spending on research and development to launch effective and lasting survival tools by enhancing the quality of the materials utilized. They are also focused on advertising techniques to increase sales and generate knowledge about the effectiveness of these technologies.
The top companies in the global survival tools market focus on notable methods to overcome competition and maintain and enhance their global share.
Recent Development:
Company | Details |
---|---|
Ultimate Survival Technologies | Ultimate Survival Technologies has created a new line of camping gear that is both durable and useful. To reduce plastic waste and the company's carbon footprint, the company uses 100% recyclable packaging for its products. |
The market is expected to expand at a 7.8% CAGR from 2023 to 2033.
In 2023, the market will be worth USD 1,207.8 million.
A 79.4% share of the market is anticipated by 2033.
Tender Corporation, Fiskars Group, and Coleman Company are key players.
A 5.15% CAGR was recorded from 2018 to 2022 for the market.
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