According to Future Market Insights (FMI), in 2023, the industrial tourism market will be worth US$ 1,663.6 million. By 2033, it would reach US$ 18,739.3 million. The surge would occur at a CAGR of 27.4% from 2023 to 2033.
As high disposable income group numbers are increasing, it is giving rise to more travelers. It is increasing industrial tourists worldwide. They are initiating travel plans to various industries which spark their interests.
The need for structural changes would grow when it comes to industrial infrastructure protection. It also includes the development of manufacturing industries.
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Eco efficiency and eco innovation of industrial resources is implemented. These would help to limit material and energy intensities.
These transformations would contribute toward rising productivity of natural resources. It would also bring down the pressure which is building on the ecological environment.
Establishment of sustainable factories is creating value and restoring energy resources. Increasing commitment of various industries toward environmental protection would boost demand.
Industries are nowadays eliminating any medium which is causing carbon dioxide emissions. They are trying to reinvent themselves and bring energy use optimization in the market.
An integrated approach has to be implemented by key industries. It would help them to balance industrial transformation and development. They can keep sustainability into action.
Industrial policies, measures, and activities are contributing toward its establishment. Sustainable industrial development would bring future scope of evolution.
It would be showcased in organizational management, production techniques, and product designing. It is an approach that is driving the industrial tourism market. These practices will enhance utility of production resources sustainably for various industries.
The tourism industry is facing key concerns with scarce natural resources. Fragility of planet Earth and over-exhaustion of energy resources would also create awareness.
It is hence resulting into better production and low consumption. Industries are keeping in mind sustainability factors in industrial tourism development.
Key Takeaways from the Industrial Tourism Market
- The global industrial tourism market showcased around -14.6% CAGR between 2018 and 2022.
- By tour type, the professional group category would expand at a substantial CAGR of 8% during the forecast period.
- Top 5 companies in the global industrial tourism market held over 30% to 35% of share in 2022.
- Based on tourism type, the factory tours segment will exhibit a significant share by 2023.
- Based on age group, the 16 to 25 years category would hold the lion’s share by 2033.
Competitive Landscape: Industrial Tourism Market
Prominent firms are using unique tactics to gain a significant share in the highly competitive environment. They are planning to maintain internal control over every facet of their services and channel support. They are attempting to guarantee that clients get value for their money.
Direct service providers are partnering up with indirect suppliers. They are pacing their support channels. They are also trying to meet a variety of needs.
The industrial tourism sector would experience progressive growth. Partnerships and cooperation between suppliers across the industry would become more prevalent.
A few leading players in the Industrial Tourism Market are:
- American Express Global Business Travel
- World Travel Inc.
- Ovation Travel Group
- Omega World Travel
- Priceline Group
Industrial Tourism Market by Category
By Direct Suppliers:
- Airlines
- Hotel Companies
- Car Rental
- Train
- Tour Operators
- Government Bodies
By Indirect Suppliers:
- Online Travel Agency (OTA)
- Traditional Travel Agencies
- Travel Management Companies (TMCs)
- Corporate Buyers
- Aggregators
By Number of Bookings:
By Age Group
- Under 15
- 16 to 25
- 26 to 35
- 36 to 45
- 46 to 55
- Over 55
By Tourism Type:
- Work Watching
- Factory Tours
- Mine Tours
- Farm Tours
- Wine Tours
- Parliament Tours
- Tours of Specific Company Premises
- Factory Visits by Business Tourists
By Demographic:
- Male
- Female
- Kid
By Nationality:
- Domestic
- International
By Booking Channel:
- Phone Booking
- Online Booking
- In-Person Booking
By Tour Type:
- Individual Travel
- Professional Group
- Group Travel
By Country:
- USA
- Canada
- Brazil
- Mexico
- Germany
- United Kingdom
- France
- Spain
- Russia
- India
- China
- Japan
- Malaysia
- Singapore
- Australia
- United Arab Emirates
- Kingdom of Saudi Arabia
- Italy
- Qatar
- Oman
- Rest of the World
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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