Global Industrial Tourism Market Size By Type (Industrial Heritage Tourism, Scientific Tourism), By Application (Below 20 Years, 20-30 Years, 30-40 Years), By Geographic Scope And Forecast

Industrial Tourism Market Size And Forecast

Industrial Tourism Market size was valued at USD 1.22 Billion in 2021 and is projected to reach USD 15.36 Billion by 2030, growing at a CAGR of 23.12% from 2023 to 2030.

Over the past few years, the industrial tourism industry has witnessed a substantial demand across the developed North American and European countries. The migrants from the developing Asian and South Asian economies are shifting towards finding better opportunities across the developed nations.

The COVID-19 outbreak has had a significant impact on the global Industrial Tourism industry. The reason for this is legality issues and restrictions in travel. Governments across the globe have proposed a number of measures to aid the growth of the Industrial Tourism industry. On the other hand, major corporations have ultimately found new approaches and technologies to address issues and stabilize the industry. This will lead to substantial market growth over the forecasted period.

Global Industrial Tourism Market Definition

The global tourism industry is one of the diverse industries across the globe. Industrial tourism is one of the newest branches added to it. Industrial tourism refers to the tourism type in which the destination decided can be industrial sites, or mega industrial projects at a particular location. The Industrial Tourism Market was also known as urban exploration, urban explorers, or simply urbex.

In the last decade, this interest has gained popularity in Europe, the USA, and Russia, and has become a type of tourism. Travel companies and independent guides started organizing tours to such Industrial sites in different countries. Interest in such places is growing because they attract people because of curiosity and to better know the culture of that tourist destination. There you can better understand the history of the city and the people who lived and live in it.

Global Industrial Tourism Market Overview

Over the past decade, global industrialization has witnessed exponential growth across developed and developing nations across the globe. Besides this, with the adoption of automation and tremendous research & development in enhancing industrial performance along with new technological and innovative product developments, the eagerness of the global industry enthusiast has escalated significantly across the globe. This has led to driving the global industrial tourism industry.

Besides creating new opportunities for the youth, the industrial tourism industry is assisting the growth of their respective national economies. Thus, government assistance to encourage urban travelers has led to further complementing upcoming opportunities in the field of the Industrial Tourism Market. However, industrial tourism service providers are going through several challenges to find a strong foothold in underdeveloped or developing economies due to a lack of awareness and attractive infrastructure across the respective economies.

The Industrial Tourism industry has witnessed astonishing growth over the previous few years. More and more students are migrating to urban areas to improve their careers which is anticipated to provide positive growth to the industrial tourism industry. Sparked by increasing technological advancements and transport networks all over the world, the industry of tourism has seen steep growth. With the slowdown in world economic growth due to COVID-19, the Industrial Tourism industry has also suffered a certain impact, but still maintained a relatively optimistic growth. This might restrict the market growth to some extent. But the ongoing advancements and growing economic situations and purchasing parties will nullify the restraint in the future.

Global Industrial Tourism MarketSegmentation Analysis

The Global Industrial Tourism Market is Segmented on the basis of Type, Application, And Geography.

Industrial Tourism Market, By Type

• Industrial Heritage Tourism
• Scientific Tourism

Based on Type, the market is bifurcated into Industrial Heritage Tourism and Scientific Tourism. Out of which, the industrial heritage tourism segment dominated the global market in 2021 and is expected to continue the trend in the forecast period. Besides this, scientific tourism is expected to witness a substantial growth rate of more than 20% from 2023 to 2030. The global tourist’s interest in industrial heritage tourism across some of the prominent industrial giants from the United States and Europe has ultimately opened the market for scientific tourism.

Industrial Tourism Market, By Application

• Below 20 Years
• 20-30 Years
• 30-40 Years
• 40-50 Years
• Above 50 Years

Based on Application, the market is bifurcated into Below 20 Years, 20-30 Years, 30-40 Years, 40-50 Years, and Above 50 Years. Out of which the young population between 20-30 years has dominated the market and is expected to witness substantial demand over the forecasted period. The population in the age group of 20-30 years try exploring themselves to the ongoing advancements across the industries along with that, the industrial visits and tours held by the colleges and other educational institutes are further complementing the demand across Asian economies such as China, India, and Japan.

Industrial Tourism Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Based on Geography, The Global Industrial Tourism Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The North American region dominated the global market in 2019 owing to its sound adoption of these technologies in the BFSI and ICT sector and is expected to continue the trend in the forecast period. It is followed by Europe and the Asia Pacific region is expected to grow at a rapid pace in the forecast period owing to rapid urbanization and industrialization with an increased investment towards smart & efficient technology and increased per capita income, with most contributions coming from India, China, and Japan.

Key Players

The “Global Industrial Tourism Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Carlson Wagonlit Travel, China CYTS Tours Holding, Fareportal/Travelong, Corporate Travel Management, World Travel Inc., Travel and Transport, Travel Leaders Group, Priceline Group, Altour, Expedia Group, China Travel, AAA Travel, Omega World Travel, Frosch, Ovation Travel Group, JTB Americas Group, BCD Travel, Direct Travel, HRG North America, American Express Global Business Travel.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Industrial Tourism Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Industrial Tourism Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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