Overview and Scope
Industrial tourism refers to the idea of visiting locations connected to the industries most prevalent in a specific location. It frequently includes visits to active businesses and industrial history, offers an experience related to particular products, and allows visitors to see and learn about the production process.
Sizing and Forecast
The industrial tourism market size has grown exponentially in recent years. It will grow from $1.86 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 30.4%. The growth in the historic period can be attributed to global industrialization, adoption of automation, economic growth, growing manufacturing sector.
The industrial tourism market size is expected to see exponential growth in the next few years. It will grow to $7.3 billion in 2028 at a compound annual growth rate (CAGR) of 31.7%. The growth in the forecast period can be attributed to growing agriculture sector, increasing energy demand, increasing research and development, increasing disposable income. Major trends in the forecast period include introduction of travel chatbots, innovative marketing strategies, integration of virtual reality and augmented reality, technological advancements, product innovations.
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Segmentation & Regional Insights
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
North America was the largest region in the industrial tourism market in 2023. 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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Major Driver Impacting Market Growth
The rise in demand for experiential travel is expected to propel the growth of the industrial tourism market going forward. Experiential travel refers to a type of travel that involves engaging actively and meaningfully with the nature, people, and culture of a destination to produce unforgettable experiences. Experimental travel encourages industrial tourism by providing immersive experiences and hands-on activities in industrial settings, creating special and educational opportunities for visitors to explore and engage with various industries, and bringing tourists to industrial areas. For instance, in July 2022, according to the International Trade Administration, a US-based Intergovernmental organization, the total non-resident international visitor flow to the United States increased to 5,210,752, which has increased by 160.8% compared to July 2021. Therefore, the rise in demand for experiential travel is driving the industrial tourism market.
Key Industry Players
Major companies operating in the industrial tourism market report are 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., Thomas Cook & Son Limited, Expedia Group Inc., China Tourism Group Duty Free Corporation Limited, China CYTS Tours Holding Co. Ltd., Bamba Experience Inc., Smithsonian Journeys.
The industrial tourism market report table of contents includes:
1. Executive Summary
2. Industrial Tourism Market Characteristics
3. Industrial Tourism Market Trends And Strategies
4. Industrial Tourism Market – Macro Economic Scenario
5. Global Industrial Tourism Market Size and Growth
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32. Global Industrial Tourism Market Competitive Benchmarking
33. Global Industrial Tourism Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Tourism Market
35. Industrial Tourism Market Future Outlook and Potential Analysis
36. Appendix
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