Camping And Caravanning Market Expected to Reach $87.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Camping And Caravanning Market," The camping and caravanning market was valued at $42.4 billion in 2021, and is estimated to reach $87.7 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.

The camping and caravanning market is experiencing high growth owing to the rising disposable income of consumers, the emergence of glamping activities, the rising trend of environmentally friendly camping, and other factors. Moreover, the emergence of new types of caravans namely Caravisio, Sealander Caravan, Aquatic Caravan, Geometric Caravan, and others are promising trends likely to grow the camping and caravanning market demand.

Further, eco-friendly camping is one of the other factors that is gaining traction in recent times. Usage of environmentally friendly utensils, proper waste management channels, regeneration, and utilization of electricity through a different channel, stringent tourism guidelines, and norms is contributing to the camping and caravanning market growth.

Apart from this, major developments in recreational/leisure vehicles mainly EV powered batteries, technologically equipped software, high speed Wi-fi connectivity, and usage of lightweight metals & plastic to reduce emissions emitted by vehicles are positively impacting the market growth.

 Additionally, today, the young generation, and passionate tourists consider travel as an important part of their life. The desire of these millennials to view new adventurous and wildlife destinations is pacing the market rapidly. Owing to this, the tourism and travel regulatory alliances are focusing on exploring new destinations and investing heavily in hidden camping sites located in underdeveloped or developing countries.

Besides, prominent players are proactively focusing on introducing new product lines of recreational vehicles wherein they are emphasizing upgrading and replacing the existing traditional vehicles with technologically equipped cars that are capable of meeting the demographics and changing customers preferences.

Owing to the abovementioned factors, the camping and caravanning market size is likely to increase in the future times.

The global Camping and Caravanning market share is segmented based on destination type, type of camper, consumer orientation, age, and region. By destination type, it is classified into 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, and others. By type of camper, it is classified into adult male, adult female, and kids. By age, it is classified into 6-12 yrs, 13-17 yrs, 18-24 yrs, 25-44 yrs, and 45+ yrs. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the Camping and Caravanning market report include Discovery Parks Private Limited, European Camping Group, Kampgrounds Of America, Inc., Parkdean Holidays Limited, Equity Lifestyle Properties, Sun Communities, Bourne Leisure, The Camping and Caravanning Club, Drayton Manor, La Bella Vista, Altmark.de

The report offers a comprehensive analysis of the global Camping and Caravanning market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Camping and Caravanning Industry

• The outbreak of the COVID-19 pandemic has dramatically slashed the camping and caravanning market analysis slowing down the entire travel and tourism industry. Nationwide lockdown, social distancing, and travel restrictions, and limitations in travel inter-city are some of the major factors slowing down the market.
• Unavailability of sufficient accommodation, lack of hospitality services, and maintenance at tourist spots affected the camping industry resulting in losing customers. Moreover, negligence in sanitization and improper waste management policies limited local campground authorities to commence their operations during COVID-19.
• Moreover, sales of RV vehicles were hampered due to the stoppage of production and manufacturing factories working, disruption in supply chain analysis, fluctuation in raw materials & component availability, and imbalances in trade policies affecting the prices of the vehicles affecting the overall camping and caravanning industry.
• Stringent regulatory norms to compulsorily avoid social gatherings and traveling activities dramatically hampered private travel and tourism players wherein they were unable to provide their services to their customers due to the shutdown of camping sites and destinations.

Key Findings of the Study

• Based on destination type, the privately owned campgrounds sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
• Based on the type of camper, the RV camping sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
• Based on consumer orientation, the adult male sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years.
• Based on age, the 18-24 yrs sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years.
• Based on region, the North American market registered the highest market share in 2021 and is projected to maintain its position during the forecast period.