A Future Market Insights (FMI) report showed that the global camping and caravanning market is estimated to rise at a compound annual growth rate of 7.6% between 2020 and 2030.
According to the report’s data, the market will expand steadily. Currently, most nations, including the Philippines, India, Thailand, Brazil, and the United Arab Emirates, are investing heavily in their airports to improve facilities for a considerable number of visitors soon.
Businesses in the market in these countries have emphasized their plans for infrastructure developments, as well as historical and camping site restoration.
Other factors impacting the expansion of the camping and caravanning sector include lifestyle enhancement, culture and variety, and constructive collaborations between governments to build infrastructure for better living and commuting.
A customer-centered industry
Since the camping and caravanning sector is a customer-driven market, companies are focusing more on customer loyalty programs, according to the FMI report. They target and retain a specific set of consumers by meeting their needs.
Accordingly, revenue boosts in companies in the global market are expected when they develop tech-driven, customer-centric services and innovative discounts through vouchers or gift cards.
Today, e-Gifting is gaining popularity among consumers due to advantages like convenience, easy availability, and customization benefits. It led prominent businesses in the market to offer e-Gift cards to their customers to retain them in the future.
Who dominates the market?
Europe is expected to stay as the dominant market in the global camping and caravanning industry. It is due to the increase in frequency and holiday stay length by the younger population in caravan parks coupled with the rising trend of mobile homes, without relying on hotels or motels in the region, as per the data shown in the insights report.
Privately-owned campgrounds are anticipated to have a relatively higher CAGR in the global camping and caravanning market in the near future, as more millennial campers and demand for luxury camping facilities rise globally.
“Prominent players in the global camping and caravanning market are focusing towards loyalty programs to attract customers towards camping activities,” said an FMI analyst in a report.
“Moreover, prominent players are significantly advertising and promoting gift cards for campers through social media and other offline stores to increase customer awareness and retention rate.”
Staying connected digitally
The FMI report also shows that staying connected on social media while camping is a priority for millennial campers.
The availability of Wi-Fi and improved cell phone service at campgrounds is increasing the active participation of millennials in camping parks and is anticipated to propel the camping and caravanning market in the foreseeable future.
The fast-paced advertising and technological landscape has become essential to the camping and caravanning industry.
More tourists seeking the best travel experience in a shorter duration is another factor that drives the global camping and caravanning market over the forecast period.
Who is winning in the market?
Some key players operating in the camping and caravanning market are ACCOR SA, Internacional Palamos, Radisson Hotel Group, Haven Leisure Limited, Hilton Worldwide Holdings Inc., TENTRR, HIPcamp, Vacansoleil, Selectcamp, and ACSI Holding BV.
Several prominent market players are significantly exploring new camping sites as more and more people are showing interest in adventure camping and glamping.
Besides this, companies are also significantly improving their digital presence to meet customer expectations and introduce new customer loyalty programs by providing personalized experiences and reserving exclusive offers for members.
In January 2020, Hilton Worldwide Holdings Inc. introduced a new lifestyle hotel brand ‘Tempo’, to serve the growing segment of modern achievers.
This new chain of hotels, with wellness and sustainability at the foundation, will provide a unique experience to younger and eco-friendly travelers. This expansion is anticipated to help the company expand its product portfolio and market footprint worldwide.
In 2020, ACSI Holding BV introduced new ACSI guides and apps for campers who like to visit campsites with their own motorhome. This will enable travelers to camp at bargain prices off-season at more than 3,600 campsites in Europe. It will also provide extensive information about 8,000 ACSI-inspected campsites.