The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Camping Stoves Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Camping Stoves Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Camping Stoves Market are thoroughly studied in the presented market study.
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A recent Fact.MR study indicates that ~300 thousand units of camping stoves were sold in 2018, and it is highly likely that the sales will rise by ~4%, yearly, in 2019. The global camping stoves market is anticipating modest growth in the forthcoming years, which will prominently be driven by the dramatic increase in outdoor recreational activities.
U.S. – The Frontrunner
While the U.S. has already been witnessing strong emergence of a trend of ‘camping’ when on family vacations, the report opines that the market is set for steadfast growth in other regions as well, over the coming years. Currently, a third of the global camping stoves sales volume is accounted by North American market, a majority of which is driven by the U.S. Moreover, Fact.MR’s analysis points to the fact that the United States’ whopping US$ 30 billion annual spend on procurement of high-quality camping accessories will remain the key growth determinant for the U.S. camping stoves market.
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In addition to a host of macroeconomic factors shaping the camping stoves market, the Fact.MR report sheds light on the various other growth influencers, including evolving consumer sentiments for camping and other outdoor activities, technological innovations, rising online availability, pricing across different regional markets, and increasing significance of fuel efficiency.
Innovations – Inspired by Sustainability
Fuel efficiency has been lately emerging as an important attribute, dictating product innovations in the camping stoves landscape, says the report. In resonance with this trend, some of the leading players are already pioneering the game of introducing ‘energy-efficient’ camping stoves on the market. Johnson Outdoors Incorporated recently developed a breakthrough “FluxRing” technology that utilizes a greater surface area, to achieve minimal boiling time, and thus improved fuel efficiency.
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With a sizeable cluster of conscientious consumers ready to pay a premium for fuel-efficient products, it is highly likely that this trend wave will expand at a brisk pace and eventually come of age over the next couple of decades. In line with the expanding global sustainability drive, the camping stoves market is also witnessing the rise of electricity-generating camping stoves that are powered by biofuels and generate electricity. Furthermore, solar-powered camping stoves are likely to gain popularity in the camping stoves market in coming years.
Consumers Seek – Grilling & More
According to the study, grilling has been among the most sought-after functions by consumers, in addition to mere cooking, when purchasing camping stoves. The effectiveness of camping stoves in terms of grilling and simmering will thus continue to influence the manufacturers’ portfolio of offerings. Reasonable fuel efficiency will always be an added value to offerings.
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