Camping Stoves Market in Numbers
Sales of camping stoves accounted for the revenues worth ~US$ 36 Bn in 2018, a third of which is accounted by camping stove sales in North America.
The camping stoves market is envisaged to record an expansion at the CAGR of 4.5% over the forecast period, 2019 – 2027.
Pressurized gas camping stoves and wood burning camping stoves have been collectively contributing to whopping 80% shares in global camping stoves market revenues.
It has been observed that ~2/5th of the total sales potential of the camping stoves market exists in outdoor specialty stores.
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Competition Landscape Analysis of Camping Stoves Market
A highly competitive landscape, the global market for camping stoves will witness 40-45% revenue contribution from the top 10 players. As the report sheds light on the competition scenario governing the developmental strategies of market participants, it unfolds how they are strategizing for better market positioning. It suggests that while the frontrunners in camping stoves market continue to prioritize product innovations to gain a differentiating advantages, they are also likely to maintain the focus on upgrading their existing portfolios, and providing free after-sales service for customer engagement. Upgrading the quality and utility of camping stoves is another key factor dictating competition strategies of market participants.
The camping stoves manufacturers are improving their products with easy ignition, easy cleaning and wind-protection features that are being sought by the customers. The product innovations include stoves with additional satellite burner, and enhanced burner output. Including attractive offers, such as a package of camping products at a discounted price has been a recently popularizing trend among leading companies in the camping stoves industry. The detailed competition analysis of camping stoves market reveals that it is highly fragmented at the bottom, and notably dynamic at the top – operated by the market frontrunners and challengers.
As innovation is the key to elongate the life cycle of the aging products, the manufacturers of camping stoves will be focused on innovations and portfolio transformation in an effort to reach a broader consumer cluster. For instance, BioLite recently launched ‘CampStove 2’, being marketed as an electricity- generating wood camp stove. On burning wood, the rotating fan in it creates a smokeless fire that is suitable in cooking meals, while it turns heat into usable electricity. This camping stove can charge devices such as smartphones which generate 5V of power through an USB output.
Several manufacturers have also been focusing on developing lightweight camping stove designs so as to enhance their camping compatibility. The market currently also has some models that can be transformed into a water collection and purification device, a search light, a dish antenna, and food heating equipment. Moreover, providers of camping stoves have also started to follow the omni-channel marketing strategies, with an objective to attract a wider consumer base through engagement programs and mobile applications.
Key Growth Determinants – Camping Stoves Market
The Expanding Customer Pool
The constant surge in the proclivity for outdoor recreational activities, such as camping, hiking, trekking, and mountaineering, among others, has led to a tremendous increase in the demand of related accessories such as camping stoves. Camping stoves will remain among the top selling camping equipment, after backpacks and camping tents, and will remain an essential camping equipment for a large proportion of the customers in the developing countries. The increase in the number of camping sites as well as surging government investments in the tourism sector in several countries has further jolted the demand for camping stoves which is forwarding the camping stoves market.
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Evolving Consumer Dynamics
Consumer behavior in the camping stoves industry has been witnessing a gradual metamorphosis. With the growing disposable income of the millennials, their purchasing power has also risen. Their interest towards products offering more aesthetic feel has also increased. Millennials are observed to spend roughly 14% more time on mobile devices as compared to other generations. Moreover, over 75% of the millennials use their mobile devices while purchasing any camping stoves. This also seems to be true with their purchase of camping stoves, though at a varied degree.
The millennials tend to compare the features and prices of camping stoves they purchase, available at different sales channels. They want to explore most of the available sources of information before making a final call for a particular brand. This metamorphosis in consumer behavior have made the manufacturers of camping stoves to innovate their portfolio with differentiated products, and options for flexibility for the consumers.
Camping Emerging as a Viable Alternative for Family Vacations
Millennials are the most prospective campers and thus potential customers for the camping stoves market. Millennial campers make up around three quarters of all campers. It has been observed that a new millennial camper often becomes an occasional camper. The school and college vacations, weekends, and planned office trips have now been turned up into a planned or unplanned trip, instead of spending time at home with gadgets. It is also observed that people are also using trips and camping to take themselves away from televisions, smartphones and other screen gadgets in order to naturally socialize.
According to North American Camping Report, people from around 77 million U.S. households camp at least occasionally. Most of the campers in the U.S. and Canada usually camp at least thrice in a year. The increasing number of leisure trips have been escalating the sales of camping stoves globally. People camp in unorganized nature places, camping grounds as well as private farm house, motor home, or camping sites. While family camping represents a larger cross-section of all camping types, camping grounds is one of the key destinations for such trips. There are large number of camping grounds and sites in U.S. and Canada, while in other parts of the world it has been increasing, with the growing inclination of people towards such activities. This has also augmented the demand for camping equipment, such as camping stoves.
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