The global camping and caravan market reached a value of nearly $44,124.8 million in 2020, registering a compound annual growth rate (CAGR) of 1.9 percent since 2015. The market is expected to grow from $44,124.8 million in 2020 to $60,765.9 million in 2025, with a compound annual growth rate (CAGR) of 6.6 percent. The market is also expected to grow from $60,765.9 million in 2025 to $76,324.9 million in 2030, a CAGR of 4.7 percent. This is explained in the report by Altus Market Research , a sample of which can be downloaded from the report with tables of contents.
Factors that could hinder growth
Millennial campers, increasing participation in outdoor activities, growing leisure spending and government initiatives are expected to drive the market. The impact of COVID-19, uncertainties brought by geopolitical arrangements, and the effects of climate change due to global warming could hinder the growth of the camping and caravan market in the future.
North America camping present, South America the future
North America was the largest region in the global camping and caravan market, accounting for 46.3 percent of the total in 2020. This is followed byWestern Europe,Asia-Pacific, and then by the other regions. Going forward, the fastest growing regions in the camping and caravan market will be South America andAfrica, where growth will be at rates of 12.2 percent and11.5 percent respectively. This will be followed by the Middle East and Eastern Europe, where the markets are expected to post compound annual growth rates of 10.1 percent and 9.0 percent, respectively. The main opportunities in the camping and caravan market broken down by type will arise in the recreational and vacation camping segment, which will achieve $11,248.7 million in annual global sales by 2025. The size of the camping and caravan market will grow the most in the United States, reaching $2,885.5 million.
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