A recreational vehicle (RV) is a motorized or non-motorized vehicle which is designed for temporary accommodation. These vehicles are generally utilized for season use, camping, recreation, or travel. In addition, these vehicles are equipped with all the amenities found in homes with living space. It includes kitchen, bathroom, bedroom, and a restroom.
Personal recreational vehicle refers to any recreational vehicle which is primarily designed to hold, carry or transport families or a small group of people. These RVs are generally used for personal usage such as outdoor recreational activities with families and others. It includes camper vans, truck campers, and others. Consumers across the globe are seeking for short trips and camping in recreational vehicles as the lockdown restrictions have been lifted. Consumers are purchasing recreational vehicle for their personal use such as to spend vacation with their family and others. This trend is expected to drive the growth of the personal recreational vehicle market.
The global recreational vehicle market is experiencing growth, due to changing outlook of the leisure and recreational activities, surge in recreational vehicle rental services, and rise in electrification activities. However, fluctuating prices of raw materials used for manufacturing of recreational vehicles is the factor hampering the growth of the market. Furthermore, growing demand for technologically advanced recreational vehicles is the factor expected to offer growth opportunities during the forecast period.
Commercial recreational vehicles are gaining traction owing to rise in tourism industry across the globe. A large number of recreational vehicles are utilized by tourists and locals for camping purposes. Camping is the most popular outdoor recreational activity among the travelers who choose a compressed living area associated with several other luxurious facilities. This trend is expected to drive the growth of this segment.
The recreational vehicle market is segmented on the basis of type, application, and region. By type, it is segmented into motorhomes, and towable RVs. By application, it is fragmented into personal and commercial. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Personal recreational vehicle refers to any recreational vehicle which is primarily designed to hold, carry or transport families or a small group of people. These RVs are generally used for personal usage such as outdoor recreational activities with families and others. It includes camper vans, truck campers, and others. Consumers across the globe are seeking for short trips and camping in recreational vehicles as the lockdown restrictions have been lifted. Consumers are purchasing recreational vehicle for their personal use such as to spend vacation with their family and others. This trend is expected to drive the growth of the personal recreational vehicle market.
The global recreational vehicle market is experiencing growth, due to changing outlook of the leisure and recreational activities, surge in recreational vehicle rental services, and rise in electrification activities. However, fluctuating prices of raw materials used for manufacturing of recreational vehicles is the factor hampering the growth of the market. Furthermore, growing demand for technologically advanced recreational vehicles is the factor expected to offer growth opportunities during the forecast period.
Commercial recreational vehicles are gaining traction owing to rise in tourism industry across the globe. A large number of recreational vehicles are utilized by tourists and locals for camping purposes. Camping is the most popular outdoor recreational activity among the travelers who choose a compressed living area associated with several other luxurious facilities. This trend is expected to drive the growth of this segment.
The recreational vehicle market is segmented on the basis of type, application, and region. By type, it is segmented into motorhomes, and towable RVs. By application, it is fragmented into personal and commercial. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the recreational vehicle market analysis from 2021 to 2031 to identify the prevailing recreational vehicle market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the recreational vehicle market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global recreational vehicle market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Motorhomes
- Towable RVs
By Application
- Personal
- Commercial
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Forest River Inc.
- Oliver Travel Trailers
- Thor Industries
- Coachmen RV
- Entegra Coach
- Newmar
- Jayco
- Tiffin Motorhomes
- Airstream
- Winnebago Industries
- Gulfstream Coach
- Cruiser RV
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: RECREATIONAL VEHICLE MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Motorhomes
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Towable RVs
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
CHAPTER 5: RECREATIONAL VEHICLE MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Personal
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Commercial
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
CHAPTER 6: RECREATIONAL VEHICLE MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Type
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Market size and forecast, by Type
6.2.4.1.2 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Type
6.2.4.2.2 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Type
6.2.4.3.2 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Type
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 UK
6.3.4.1.1 Market size and forecast, by Type
6.3.4.1.2 Market size and forecast, by Application
6.3.4.2 Germany
6.3.4.2.1 Market size and forecast, by Type
6.3.4.2.2 Market size and forecast, by Application
6.3.4.3 France
6.3.4.3.1 Market size and forecast, by Type
6.3.4.3.2 Market size and forecast, by Application
6.3.4.4 Italy
6.3.4.4.1 Market size and forecast, by Type
6.3.4.4.2 Market size and forecast, by Application
6.3.4.5 Rest of Europe
6.3.4.5.1 Market size and forecast, by Type
6.3.4.5.2 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Type
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Type
6.4.4.1.2 Market size and forecast, by Application
6.4.4.2 India
6.4.4.2.1 Market size and forecast, by Type
6.4.4.2.2 Market size and forecast, by Application
6.4.4.3 Japan
6.4.4.3.1 Market size and forecast, by Type
6.4.4.3.2 Market size and forecast, by Application
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Type
6.4.4.4.2 Market size and forecast, by Application
6.4.4.5 Rest of Asia-Pacific
6.4.4.5.1 Market size and forecast, by Type
6.4.4.5.2 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Type
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Latin America
6.5.4.1.1 Market size and forecast, by Type
6.5.4.1.2 Market size and forecast, by Application
6.5.4.2 Middle East
6.5.4.2.1 Market size and forecast, by Type
6.5.4.2.2 Market size and forecast, by Application
6.5.4.3 Africa
6.5.4.3.1 Market size and forecast, by Type
6.5.4.3.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Forest River Inc.
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Oliver Travel Trailers
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Thor Industries
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Coachmen RV
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Entegra Coach
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Newmar
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Jayco
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Tiffin Motorhomes
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Airstream
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Winnebago Industries
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
8.11 Gulfstream Coach
8.11.1 Company overview
8.11.2 Company snapshot
8.11.3 Operating business segments
8.11.4 Product portfolio
8.11.5 Business performance
8.11.6 Key strategic moves and developments
8.12 Cruiser RV
8.12.1 Company overview
8.12.2 Company snapshot
8.12.3 Operating business segments
8.12.4 Product portfolio
8.12.5 Business performance
8.12.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Recreational Vehicle Market,' the recreational vehicle market was valued at $57.3 billion in 2021, and is estimated to reach $117.0 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.North America is expected to dominate the global recreational vehicle market. Recreational activities across North America have witnessed significant growth from previous years owing to changes in lifestyle and surge in inclination toward recreational activities. U.S. is expected to maintain its dominance during the forecast period owing to the changes in recreational industry outlook and changes in design consideration of the recreational vehicle.
Key players operating in recreational vehicle market are introducing new electric motorhomes recreational vehicle in the market which fuels the growth of the market. For instance, in January 2022, Thor unveiled an electric motorhome concept with 300 miles range. The Thor Vision Vehicle is powered by a high-capacity battery pack and an integrated fuel cell.
The global recreational vehicle market is experiencing growth, due to changing outlook of the leisure and recreational activities, surge in recreational vehicle rental services, and rise in electrification activities. However, fluctuating prices of raw materials used for manufacturing of recreational vehicles is the factor hampering the growth of the market. Furthermore, growing demand for technologically advanced recreational vehicles is the factor expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
The spread of the COVID-19 pandemic has positively impacted the global recreational vehicle (RV) market. Recreational vehicle industry observed rise in the sales of recreational vehicles during the pandemic period as people started to prefer staying in recreational vehicle such as caravans in comparison to hotels. For instance, the Recreational Vehicle Industry Association observed North American RV sales rose to 4.5% in 2020, to 424, 400 units.In addition, the recreational vehicle manufacturers faced a shortage in the supply of raw materials, owing to the pandemic quarantine measures and restrictions. Majority of the domestic market participants especially from North America and Europe depend on the Asia-Pacific countries such as China, Australia, and other countries for the supply of the raw materials. Supply chain disruption results to hamper manufacturing activities of the recreational vehicles, thereby resulted in delay in the production of recreational vehicles.
However, with the removal of lockdown restrictions, rise in the recreational vehicle rental services has been observed, which is expected to drive the growth of the market during the forecast period. Furthermore, post-pandemic, growing demand for technologically advanced recreational vehicles has also been observed, which in turn is expected to provide ample opportunities for the RVs market during the forecast period.
KEY FINDINGS OF THE STUDY
By type, the motorhomes segment is anticipated to exhibit significant growth in the near future.By application, the commercial segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global recreational vehicle market include Airstream, Coachment RV, Cruiser RV, Entegra Coach, Forest River Inc., Gulfstream Coach Inc., Jayco Inc, Newmar Corporation, Oliver Travel Trailer, Thor Industries Inc, Tiffin Motorhomes, and Winnebago Industries.
Companies Mentioned
- Forest River Inc.
- Oliver Travel Trailers
- Thor Industries
- Coachmen Rv
- Entegra Coach
- Newmar
- Jayco
- Tiffin Motorhomes
- Airstream
- Winnebago Industries
- Gulfstream Coach
- Cruiser Rv
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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