The global survival tools market is expected to spur significantly from $1159.5 million in 2021 to $2284 million in 2028. The market is likely to rise with a healthy annual compound rate of 7.2% during the forecast period.
The global survival tools market is expected to spur significantly from $1159.5 million in 2021 to $2284 million in 2028. The market is likely to rise with a healthy annual compound rate of 7.2% during the forecast period. The market report is a comprehensive study on different market dynamics, including growth factors, restraints, opportunities, and challenges affecting the marketplace. The competitive and geographical landscape is well elaborated in the report.
Survival Tools Market: Overview
Survival tool refers to the combination of basic tools and supplies offered for survival and protection purposes during recreational activities like camping, hiking, and others. These survival tools help avoid injuries while performing adventurous activities like rock climbing. The package contains different tools like compass, first aid kits, pocket tools, and others. These tools are easily available in the market through different sales channels like online stores, specialty stores, supermarkets, and others. Additionally, as the frequency of natural disasters all across the globe has increased, the requirement for survival tools has become imperative. According to WHO, falls are the second largest cause of unintentional injury and accidental mortality worldwide. Among all, first aid kits are critical ones, and these are gaining traction among people. The survival kits prepared for natural disasters include sanitary bags, food, and water.
COVID-19 Impact:
The outbreak of the Covid-19 has significantly impacted the growth of the global survival tools market. The pandemic has affected all the dimensions of human life with economic and financial losses. Due to the growing Covid cases, the government all across the globe imposed several restrictions on transport and announced worldwide lockdowns. It also closed down the manufacturing units. Therefore, the market was negatively impacted by the outbreak of the coronavirus pandemic. But the growing inclination of people towards adventurous activities as people want proper outings after year-long lockdowns is likely to throw many strong growth prospects in the global market in the forthcoming years.
Survival Tools Market: Growth Drivers
Increasing interest of people towards recreational activities will drive the growth of the global market.
There is an exponential spike in the number of people going for adventurous activities like hiking, rock climbing, and others with family every year. The increase in number can also be attributed to technological developments, improved facilities, convenience, and affordability. However, such constantly growing numbers are contributing towards the growth of the global survival tools market significantly. Nowadays, there is a trend of going on vacation every year and staying out of the office to get refreshed and spend quality time with family. Moreover, many companies are now offering paid vacation holidays to boost employee morale and increase work productivity. Such a landscape will positively shape the trajectory of the global market as people going on vacation and adventurous trips need survival tools as a safety measure. Additionally, in recent years, there has been a massive spike in the percentage of natural calamities all across the globe. The concerned authorities offer awareness programs to educate people regarding the importance of survival tools and how to use these tools for their safety. However, it has emerged as another key factor propelling the growth of the global market. These tools are also used in defense for different military operations.
Survival Tools Market: Restraints
Constantly increasing prices of specialized tools will restrict the growth of the global market.
In recent years, there has been a significant spike in the prices of rope, paracord, and other specialized tools, which is likely to restrict the growth of the global market. Furthermore, the transportation cost is also high, thereby hampering the market growth.
Survival Tools Market: Opportunities
Automatic technology embedded in survival tools is likely to create new growth avenues in the global market.
Manufacturers are increasing their research and development activities in order to come up with advanced and innovative tools to help users in different operations. Modern survival tools are embedded with automatic technology like the internet of things to infuse new and advanced features. Therefore, the advent of such advanced technology is likely to create many growth opportunities in the global market in the forthcoming years.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Survival Tools Market: Challenges
Growing competition among market players is a challenge in the global market.
Due to the emergence of a number of organizations in the global market, the competition among the market players has intensified, which in turn has negatively impacted the pricing field. Therefore, it has emerged as a major challenge in the global market.
Survival Tools Market: Segmentation
The global survival tools market can be segmented into product type, application, distribution channel, and region.
By product type, the market can be segmented into a compass, first aid kit, pocket tools, and others.
By application, the market can be segmented into camping, hunting & fishing, hiking, and others.
By distribution channel, the market can be segmented into online stores, supermarkets, specialty stores, and others. The specialty store segment accounts for the largest share in the global market as people get to know each product physically, and in addition, they are also offered detailed product specifications with the help of a guide to select the right survival tool for the requirement.
Survival Tools Market: Regional Landscape
North America accounts for the largest share in the global survival tools market due to the presence of a strong customer base in the region. Furthermore, the increasing number of recreational enthusiasts and the presence of prominent companies offering paid vacations to employees are likely to accentuate the growth of the regional market.
Asia Pacific is expected to be the fastest-growing region in the global market due to the surging number of recreational enthusiasts in the region. The rising living standard of people will further contribute towards the growth of the global market.
Survival Tools Market: Competitive Landscape
Some of the significant players in the global survival tools market include UST Brands, Surefire, LLC, SOG Specialty Knives & Tools, Leatherman Tool Group, Inc., Johnson & Johnson, Fiskars Group, Fenix Outdoors International AG, Exxel Outdoors, LLC, and Coleman Company, Inc.
By Product type
By Application
By Distribution Channel
By Region
The global survival tools market is expected to spur significantly from $1159.5 million in 2021 to $2284 million in 2028. The market is likely to rise with a healthy annual compound rate of 7.2% during the forecast period.
There is an exponential spike in the number of people going for adventurous activities like hiking, rock climbing, and others with family every year. The increase in number can also be attributed to technological developments, improved facilities, convenience, and affordability.
Some of the significant players in the global survival tools market include UST Brands, Surefire, LLC, SOG Specialty Knives & Tools, Leatherman Tool Group, Inc., Johnson & Johnson, Fiskars Group, Fenix Outdoors International AG, Exxel Outdoors, LLC, and Coleman Company, Inc.
North America accounts for the largest share in the global survival tools market due to the presence of a strong customer base in the region. Furthermore, the increasing number of recreational enthusiasts and the presence of prominent companies offering paid vacations to employees are likely to accentuate the growth of the regional market.
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