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Experiential Travel Drives Growth In Industrial Tourism Market: Core Growth Enabler in the Industrial Tourism Market, 2025
Industrial Tourism Market
What Will the Industrial Tourism Industry Market Size Be by 2025?
The size of the industrial tourism market has seen significant expansion recently. The anticipated projection is for it to continue expanding from $2.6 billion in 2024 to reach $3.38 billion in 2025, registering a compound annual growth rate (CAGR) of 29.7%. Factors contributing to the market's impressive growth during the historical period include global industrialization, the implementation of automation, economic expansion, and a thriving manufacturing sector.
What's the Long-Term Growth Forecast for the Industrial Tourism Market Size Through 2029?
There is a prediction for a steep increase in the size of the industrial tourism market in the upcoming years. It is projected to rise to a staggering $10.62 billion by 2029, growing at a compound annual growth rate (CAGR) of 33.1%. This growth during the forecast period is due in part to the expanding agriculture sector, surge in energy needs, heightened research and development activities, and a rise in disposable income. Prevalent trends expected during this period encompass the use of travel chatbots, groundbreaking marketing tactics, merging of virtual and augmented reality, technological progression, and introduction of innovative products.
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What Are the Key Growth Drivers Fueling the Industrial Tourism Market Expansion?
The burgeoning demand for experiential travel is predicted to stimulate the expansion of the industrial tourism market. This type of travel is defined by its active and purposeful engagement with the natural environment, local people, and the culture of a specific locale, yielding unforgettable experiences. Industries are benefited by experiential travel as it offers engrossing experiences and practical activities in industrial environments, crafting distinctive and instructive experiences for visitors to delve into and interact with various industries while bringing tourism to industrial regions. For example, data from the International Trade Administration suggests that in July 2022, non-residential international visitors to the United States swelled to a total of 5,210,752, reflecting a 160.8% surge compared to the same period the previous year. As a result, the escalating demand for experiential travel is fuelling the industrial tourism market.
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What Are the Key Trends Driving Industrial Tourism Market Growth?
Industrial tourism gaining momentum through the incorporation of various industries is a trend that's gaining traction in the industrial tourism marketplace. Firms in this sector strive to introduce new products to maintain their market stance. A good example is when in February 2023, Metalloinvest Management Company LLC, a metallurgy and mining company from Russia, initiated industrial tourism at the Alexey Ugarov Oskol Electrometallurgical Plant (OEMK). This initiative introduced guests to eco-friendly metallurgy technologies that complement nature and informed them of the latest professional opportunities. Furthermore, the tourists were briefed on industrial safety measures and provided with mandatory safety gear, including overalls, shoes, and other necessary protective equipment.
How Is the Industrial Tourism Market Segmented?
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 Companies Are Leading the Charge in Industrial Tourism Market Innovation?
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.
Which Regions Are Leading the Global Industrial Tourism Market in Revenue?
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
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