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Recreational Vehicle Market Worldwide Industry Details by Top Manufacture, Price, Supply-Demand, Recent Trends, Share, Development Trend and End User Analysis, Outlook for 2026

Author : Ronak Bora | Published Date : 2020-09-14 

The growing trend of consumers taking multiple mini-vacations, to places closer to their homes, is expected to drive the recreational vehicle market. The recreational vehicle industry has flourished since its low point of financial crisis. As per the Recreational Vehicle Industry Association (RVIA), in 2017, over 500,000 recreational vehicles (RVs) were sold, a rise of 17.2% from the 2016 number.

The demand for RVs has depicted an upward trend since then. In fact, the RVIA registered 2019 to be the fourth highest year on record. According to RVs 2019 Move America Study, a research that was commissioned by RVIA, the RV sector boasts of a $114 billion worth of economic impact and provides more than 596,355 jobs as well as $32.2 billion in terms of wages.

Some of the most prominent factors that are driving RV industry growth include, increasing focus towards shorter trips that are closer to home, their ability to support balanced lifestyles, shifting lifestyle trends, increasing innovation in product development, and launch of new RVs with today's amenities.

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Additionally, RVs also provide a better value for money to their users by saving on vacation costs. In fact, RVs typically enable vacation cost savings of more than 27-62% for a family of four, even when considering fuel and ownership costs.

The overall recreational vehicles market is bifurcated into different segments in terms of vehicles, fuel, and regional landscape.

The vehicles segment is classified into motorhomes, and towable RVs. Among these, the motorhomes segment held a market share of nearly 55% in 2019 owing to high demand for luxurious recreational campers with enhanced passenger accommodation.

Luxury recreational vehicles, especially, are showing a tremendous rise in demand as governments start to ease the lockdowns they had imposed to curb the spread of the coronavirus. According to a recent report by RV manufacturer, Thor Industries, Inc., sales of luxury RVs costing $100,000 and above have increased tremendously.

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In terms of fuel, the market is categorized into gasoline, and diesel recreational vehicles. Among these, the gasoline segment is projected to witness significant growth over the coming years. The segment is slated to witness this high demand owing to low vehicle emissions and low maintenance requirements of these vehicles.

Additionally, the number of first-time owners is also increasing considerably, which would compliment business growth for gasoline-powered RVs. Recreational vehicles that run on gasoline are more easy to drive as gasoline engine provide better power and torque, making it easier for first-time drivers to traverse different terrains more easily.

From a regional reference frame, the LATAM recreational vehicles market is set to register substantial revenue growth owing to the increasing number of RV rental service providers in the region.

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Report Content

Chapter 1.    Methodology and Scope

1.1.    Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2.    Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2.    Executive Summary

2.1.    Recreational vehicles industry 360° synopsis, 2017 – 2026

2.1.1. Business trends

2.1.2. Vehicle trends

2.1.3. Fuel trends

2.1.4. Regional trends

Chapter 3.    Recreational Vehicles Industry Insights

3.1.    Industry segmentation

3.2.    Impact of COVID-19 pandemic

3.2.1. Global outlook

3.2.2. Impact by region    North America    Europe    Asia Pacific    Latin America    MEA

3.2.3. Industry value chain    Research and development    Manufacturing    Marketing    Supply

3.2.4. Competitive landscape    Strategy    Distribution network    Business growth

3.3.    Industry ecosystem analysis

3.3.1. Raw material supplier

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. Vendor matrix

3.4.    Technology & innovation landscape

3.5.    Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.    Pricing analysis, by region

3.6.1. North America

3.6.2. Europe

3.6.3. Asia Pacific

3.6.4. Latin America

3.6.5. MEA

3.7.    Industry impact forces

3.7.1. Growth drivers    Shifting consumer preferences toward camping tourism    Development of road infrastructure and recreational vehicle parks in North America    Growing demand for technologically advanced RVs in Europe    Growing emphasis on tourism industry development in Asia Pacific    Proliferation of RV rental services in Latin America    Increasing demand for luxury recreational vehicles in the MEA

3.7.2. Industry pitfalls & challenges    High-cost of purchase and maintenance of recreational vehicles

3.8.    Growth potential analysis

3.9.    Porter's analysis

3.10.    PESTEL analysis

Chapter 4.    Competitive Landscape

4.1.    Competitive landscape, 2019

4.1.1. Introduction

4.1.2. Recreational vehicles market share, 2019

4.1.3. Top players analysis

4.1.4. Competitive analysis, 2019

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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