Press release
Industrial Tourism Market Set to Reach $10.62 Billion by 2029 with 33% Yearly Growth
Industrial Tourism Market Share
The industrial tourism market's growth is projected to be driven by the increased desire for experiential travel. This kind of travel engages individuals directly and deeply with the environment, local people, and the culture of a destination, providing unforgettable experiences. The concept of experiential travel enhances industrial tourism by offering immersive experiences in industrial environments and allowing tourists to interact with various industries. This immersive activity serves as both a unique and educational opportunity, attracting tourists to industrial regions. For example, the total international visitor arrival in the United States recorded by the International Trade Administration, a US-based Intergovernmental organization, in July 2022 was 5,210,752, showcasing a 160.8% rise compared to July 2021. Consequently, this increase in experiential travel demand is boosting the industrial tourism market.
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What Is the projected market size and growth rate for the industrial tourism market?
In recent times, the market size of industrial tourism has witnessed a substantial surge. The sector, valued at $2.6 billion in 2024, is forecasted to expand up to $3.38 billion by 2025, representing a compound annual growth rate (CAGR) of 29.7%. The historical progression seen in this sector is linked to global industrialization, the embrace of automation technology, economic development, and the expanding manufacturing industry.
The market size of industrial tourism is predicted to witness substantial expansion in the upcoming years, increasing to a value of $10.62 billion by 2029, courtesy of a compound annual growth rate (CAGR) of 33.1%. The surges predicted in the projection period can be credited to factors such as burgeoning agricultural sector, escalating demand for energy, amplified research and development activities, and rising disposable income. In the prediction period, significant trends like the advent of travel chatbots, novel marketing strategies, implementation of virtual and augmented reality, technological progression, and product innovations will play a key role.
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What new trends are reshaping the industrial tourism market and its opportunities?
Various forms of industrial tourism are gaining traction as a significant trend in the industrial tourism industry. Innovating new product offerings is a strategic focus for companies in this market to retain their competitive edge. For instance, Metalloinvest Management Company LLC, a Russian mining and metallurgy business, unveiled its industrial tourism programme at the Alexey Ugarov Oskol Electrometallurgical Plant (OEMK) in February 2023. The programme provides visitors with insight into environmentally-friendly metallurgy technologies and up-to-the-minute professional practices. Further, tourists receive guidelines on industrial safety and are equipped with overalls, shoes, and additional personal protection gear.
What major market segments define the scope and growth of the industrial tourism market?
The industrial tourism market covered in this report is segmented -
1) By Type: Industrial Heritage Tourism, Company Visits, Scientific Tourism
2) By Visitor Type: Students, Professionals, Leisure Travelers
3) By Application: Below 20 Years, 20-30 Years, 30-40 Years, 40-50 Years, Above 50 Years
4) By Industry: Manufacturing, Agriculture, Energy, Technology, Transportation, Aerospace, Science Centers
Subsegments:
1) By Industrial Heritage Tourism: Historical Industrial Sites, Industrial Museums, Heritage Railways
2) By Company Visits: Factory Tours, Corporate Experience Programs, Open Days
3) By Scientific Tourism: Research Facility Tours, Science And Technology Exhibits, Field Research Experiences
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Which region dominates the industrial tourism market?
North America was the largest region in the industrial tourism market in 2024. The regions covered in the industrial tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the industrial tourism industry growth?
Major companies operating in the industrial tourism market include TUI AG, AAA Club Alliance Inc., Expedia Group Inc., Global Business Travel Group Inc., BCD Travel, Fareportal Inc., Direct Travel Inc., World Travel Inc., ALTOUR International Inc., JTB Americas Ltd., Omega World Travel, Lindblad Expeditions Holdings Inc., Tauck Inc., Frosch International Travel LLC, Topdeck Travel, Travel Leaders Group LLC, Ovation Travel Group, Quasar Expeditions Inc., Peregrine Adventures Pty Ltd., China Tourism Group Duty Free Corporation Limited, China CYTS Tours Holding Co. Ltd., Bamba Experience Inc., Smithsonian Journeys.
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What Is Covered In The Industrial Tourism Global Market Report?
• Market Size Forecast: Examine the industrial tourism market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the industrial tourism market for a structured understanding.
• Key Players Overview: Analyze major players in the industrial tourism market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial tourism market.
• Segment Contributions: Evaluate how different segments drive overall growth in the industrial tourism market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial tourism market.
• Industry Challenges: Identify potential risks and obstacles affecting the industrial tourism market.
• Competitive Landscape: Review strategic developments in the industrial tourism market, including expansions, agreements, and new product launches.
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