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Survival Tools Market Overview, Growth, Share, Revenue and Forecast 2033
During the projected period, total sales in the survival tools market are to record a robust 7.8% CAGR, reaching US$ 1,207.8 million in 2023. The growing emphasis on safety while participating in outdoor leisure activities pushes the survival tools industry.
In light of this, the market valuation is to reach US$ 2,558.1 million by 2033. The survival tools industry study examines the current expansion, which is being driven by increased accidents and unintentional injuries worldwide.
Emerging Trends in the Survival Tools Market
An increase in natural disasters, national park visitation, and a surge in hiking trips are some key factors predicted to propel the survival gear market expansion during the forecast period.
Increased awareness campaigns organized by private and government organizations to educate people about the importance of survival tools in emergencies, as well as rising demand in the military segment due to survival tools available in a variety of sizes to meet the needs of various military operations, to ramp up the survival tools market growth.
Size and Weight Restrictions on Survival Tool Kits Negatively Impact Market Expansion
Military and defence, forestry workers, and other people who work in extreme climatic conditions and remote locations should be equipped with survival equipment and disaster supplies. Although, it is difficult to keep all the essential supplies due to their restricted size and weight since survival equipment was taken for a variety of activities, including camping, travel, or sporting events.
Users need to be aware of their needs concerning their jobs and other activities. This can cut down on the extra goods carried along with your survival gear. Therefore, vendors face difficulties in determining the best survival tool mix for certain applications, which might impede survival tools market expansion.
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Regional Economic Scenario of the Survival Tools Market
Due to increased government efforts to promote the use of survival kits, North America currently controls a large part of the global survival tools industry. Moreover, the government is enticing citizens to buy or create survival kits, which may increase demand for survival gear in the area throughout the anticipated time.
Due to the small-scale businesses involved in the production and delivery of survival tools, Asia Pacific has seen extensive growth in the survival tools industry. The industry’s ability to prosper and tap into regional markets due to the drop in manufacturing costs fuel the expansion of the survival gear market in the coming years.
Key Takeaways
In the product type category, the pocket survival tools segment gets a market share of 27.4% during the forecast period.
In the application category, the hiking activities segment to grab a market share of 37% between 2023 and 2033.
The United States to get a market share of survival tools of 79.4% from 2023 to 2033.
The Indian market to grab a share of 35.5% between 2023 and 2033.
Over the forecast period, China’s market share may reach 42.6%.
Germany’s market may grab a share of 20.4% from 2023 to 2033.
The Japan market accounted for 35.5% of the market share of survival tools between 2023 and 2033.
During the forecast period, Australia may take up 53.2% of the survival gear market.
Competitive Landscape
The key survival tool manufacturers are indulged in developing cutting-edge strategies to have a competitive edge and expand their market size.
Coleman Company, Inc., Exxel Outdoors, LLC, Fenix Outdoors International AG, Fiskars Group, Johnson & Johnson, Leatherman Tool Group, Inc., SOG Specialty Knives & Tools, Surefire, LLC, and UST Brands are a few of the significant companies in the global survival tools market analyzed in this report
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