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Portable Emergency Shelter Market Trends, Market Share, Size, Growth Status And Forecast To 2033
Portable Emergency Shelter Market
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According to The Business Research Company's, The portable emergency shelter market size has grown steadily in recent years. It will grow from $0.95 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 2.2%. The growth in the historic period can be attributed to increase in natural catastrophes and humanitarian, increasing frequency of natural disasters, increasing spending more on the military, growing popularity of homes, and growing government initiatives for disaster preparedness.
The portable emergency shelter market size is expected to see steady growth in the next few years. It will grow to $1.06 billion in 2028 at a compound annual growth rate (CAGR) of 2.4%. The growth in the forecast period can be attributed to the growing number of individuals impacted, the growing demand for lightweight and durable camping gear, rising demand for militant security, growing need for environmentally friendly alternatives, and increasing emphasis on eco-friendly products. Major trends in the forecast period include advancements in portable emergency shelter technology, digital technologies, product innovations, rapid deployment systems like inflatable structures, and innovation with advanced materials such as insulated composite panels.
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Market Drivers and Trends:
The increasing frequency of natural disasters is expected to propel the growth of the portable emergency shelter market going forward. Natural disasters are catastrophic events caused by natural processes on Earth, leading to significant damage to property, infrastructure, and the environment and often resulting in loss of life and economic disruption. The frequency of natural disasters is increasing due to climate change, deforestation, urbanization, population growth, environmental degradation, and improved reporting. Portable emergency shelters provide immediate, temporary housing, protect people from the elements, can be quickly deployed and set up, and offer a safe space for those displaced by disasters. For instance, in April 2024, according to Our World in Data (OWID), a UK-based open public source, the global number of earthquakes increased from 16 in 2021 to 32 in 2023. Therefore, the increasing frequency of natural disasters drives the portable emergency shelter market.
Major companies operating in the portable emergency shelter market are focusing on investing in military shelters to enhance their capabilities in rapid deployment and adaptability for various operational environments, responding to the increasing demand for versatile solutions in both military and civilian emergency scenarios. Investing in advanced technologies and materials helps improve military shelters' functionality and durability. For instance, in April 2024, HDT Global, a US-based company that manufactures portable emergency shelters, was awarded a $432 million contract by the U.S. Army to supply rigid wall shelters as part of the Army Standard Family of Rigid Wall Shelters Phase 1 (ASF-RWS P1) program. The contract, which has a potential duration of 10 years, includes both expandable and non-expandable rigid wall shelter variants. The shelters are designed to be more modular, interoperable, and scalable than legacy international organizations for standardization shelters, with a 50% greater payload capacity and 5% lighter weight.
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Major Key Players of the Market:
HDT Global, Alaska Structures Inc., Weatherhaven Global Solutions Limited, Black Diamond Equipment, ShelterLogic Corporation, Western Shelter Systems, Kelty's, Big Agnes Inc., Epack Polymers Private Limited, Tentnology, Karmod Prefabricated Technologies, Dome Technology, NEMO Equipment Inc., Sierra Designs Inc., Hilleberg the Tentmaker, Covertex, Six Moon Designs, InterShelter Inc., Pinnacle Tents, World Housing Solution
Portable Emergency Shelter Market 2024 Key Insights:
• The portable emergency shelter market size is expected to see steady growth in the next few years. It will grow to $1.06 billion in 2028 at a compound annual growth rate (CAGR) of 2.4%.
• Increasing Frequency Of Natural Disasters Drives Growth Of Portable Emergency Shelter Market
• Investments In Military Shelters By Major Portable Emergency Shelter Companies Enhance Capabilities For Rapid Deployment And Adaptability
• Europe was the largest region in the portable emergency shelter market in 2023
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