888-776-0942 from 8 AM - 10 PM ET
NEW YORK , Sept. 9, 2022 /PRNewswire/ -- The survival tools market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the survival tools market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.
The report on the survival tools market by Technavio expects the market size to increase at a CAGR of 7.36% and register an incremental growth of USD 524.34 million between 2021 and 2026. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: limitations of size and weight of survival tool kits and the need for updating components in survival tools.
According to Technavio, the growth of the market is primarily driven by increasing outdoor recreational activities.
The global adventure tourism industry has grown substantially over the years with many people taking up adventure tourism to cope with their mundane daily routines. The uptake of adventure tourism is relatively high in urban areas and there is no set age limit to undertake such recreational activities. In addition, the health benefits associated with adventure tourism such as reducing obesity and reduced stress are driving the demand for survival tools among end-users such as residential and recreational users. All these factors will drive the growth of the market during the forecast period.
"Stringent safety regulations and evolving product formats will further accelerate the growth of the market", says an analyst at Technavio.
The global survival tools market is fragmented by the presence of several established vendors. The increasing product launches by the vendors in the market are contributing to the growth of the global survival tools market. For instance, on June 2, 2022 , Sharp-n-Spark launched a two-in-one pocket-friendly tool that can start a fire and sharpen knives. Such product launches are likely to intensify the competition in the global survival tools market during the forecast period.
The report breaks down the market into the following segments:
Based on the product type, the pocket tools segment is expected to create more revenue in the market. The segment is driven by the cost-effectiveness of pocket tools. Also, the availability of necessary tools, ease of access, and compact size of pocket tools is contributing to the growth of the pocket tool segment in the global survival tools market.
In terms of region, North America will emerge as the dominant region, occupying 37% of the global market share. The regional market is driven by the growing penetration of the internet and the availability of the best camping destinations such as US national parks, state parks, and beaches or coastal areas.
The complete report on the global survival tools market offers detailed insights on the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.
The survival tools market report answers questions such as:
Got more queries? Speak to our analyst now
Users who bought this report also purchased,
Accelerate at a CAGR of 7.36%
North America, Europe, APAC, South America, and Middle East and Africa
US, Canada, China, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
Acme United Corp., American Outdoor Brands Inc., Bivouac Outdoor, Cintas Corp., Exxel Outdoors LLC, Fenix Outdoor International AG, Fiskars Group, Full Windsor, Honeywell International Inc., Johnson and Johnson, L.L. Bean Inc., Leatherman Tool Group Inc., Lifeline, Newell Brands Inc., Recreational Equipment Inc., Sharpal Inc., SOG Specialty Knives Inc., SureFire LLC, Unchartered Supply Co., and VSSL
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
5 Market Segmentation by Product Type
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET