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North America Recreational Vehicle Market - Growth, Trends, And Forecast (2019 - 2024)

  • ID: 4515635
  • Report
  • August 2019
  • Region: North America
  • 80 pages
  • Mordor Intelligence
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  • Forest River Inc.
  • Nexus RV
  • REV Group
  • Thor Industries Inc.
  • Triple E RV
  • Winnebago Industries .
  • MORE
Market Overview

The North American recreational vehicle market is anticipated to register a CAGR of about 7.02% during the forecast period (2019 – 2024).
  • As of 2017, more than 10 million US households own an RV, while nearly 17.2 million households are looking to buy one. Considering the age group of RV owners in the US, 30-54 years age group people owned the majority of the RVs in 2018.
  • These facts clearly imply that the demand for the market is gradually improving and is anticipated to further grow, over the forecasted period.
  • It is expected that this increased market potential may drive the market forward, especially in the US. In 2018, RV shipments reached 483,672 units.
  • North America has about 370 national chain outlets and local RV dealers. These dealers are involved with state-of-the-art, as well as the latest RV units. These sellers offer deals not just on new motorhome models, but also on pre-owned units for savings, along with easy financing for eligible and legitimate borrowers.
Scope of the Report

An RV is a vehicle, which combines transportation and temporary living quarters for travel, recreation, and camping. The two main categories of RVs are motorhomes (motorized) and towable (towed behind the family car, van or pickup).

The North American recreational vehicle market has been segmented by type and geography.

Key Market Trends

Growing Recreational Vehicles Shipments in the United States

According to a study commissioned by the Recreation Vehicle Industry Association, the US ownership of RVs is increasing at a fast pace.

One of the primary reason propelling the growth of the market is a rise in income, employment, and household wealth. However, owing to the rise in the manufacturing cost for RV manufacturers and RV dealers adjusting their inventories due to changes in inventory carrying costs, there is a decline in the sales of RVs.

Additionally, newer and younger RV owners and shoppers demonstrate higher and more robust shopping intentions than older RVers. Most current owners say they may probably purchase another RV sometime in the future. Furthermore, baby-boomers are also propelling the demand for and sales of motorhomes. They prefer an experience-seeking lifestyle post-retirement, thus, they prefer motorhomes, as well as travel trailers as a viable and convenient option, due to the fuel economy offered by them.

Type B Expected to Witness Strong Demand

Type B motorhomes are commonly called van campers. They are driven like a family van and are however smaller in size, compared to the type A motorhomes. These are built on the chassis of a full-sized van and feature a raised roof to facilitate walking upright.

These vehicles provide the campers with comfortable sleeping quarters and all the necessities, along with some luxurious features, such as refrigerator, hot water, air conditioning, and heating. However, they miss out some features, such as full-sized entertainment system and laundry facilities, owing to their small size.

These motorhomes are less expensive in nature and are preferred by consumers who have 2-3 family members, and occasional campers. They cost between USD 60,000 and USD 130,000, with the difference in price arising from different models providing different amenities.

Being smaller in size, the major advantages of type B motorhomes are maneuverability and the ease of driving.

Competitive Landscape

The major players of the North American recreational vehicle market are Thor Industries Inc., Forest River Inc., Winnebago Industries, REV Group, and Triple E . The recreational vehicle market is highly competitive amongst the dominant players. The companies are continually competing with each other, and are opting strategies, like acquisition, heavy investment in R&D projects, and offering more luxurious services in the vehicle. For instance,
  • In Feb 2019, Thor Industries Inc. has announced the complete acquisition of Erwin Hymer Group excluding its North American business.
Additionally, in October 2018, American Coach launched American Dream Class A Diesel RV at the annual Elkhart RV Dealer Open House event. American Coach represents REV Group’s top-of-the-line luxury RV brand. The vehicle is available in both 42- and 45-foot floor plans. The vehicle is priced at USD 600,000.

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Note: Product cover images may vary from those shown
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  • Forest River Inc.
  • Nexus RV
  • REV Group
  • Thor Industries Inc.
  • Triple E RV
  • Winnebago Industries .
  • MORE
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study



4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5.1 Towable RVs
5.1.1 Travel Trailers
5.1.2 Fifth Wheel Trailers
5.1.3 Folding Camp Trailers
5.1.4 Truck Campers
5.2 Motorhomes
5.2.1 Type A
5.2.2 Type B
5.2.3 Type C
5.3 Geography
5.3.1 North America United States Canada Mexico Rest of North America

6.1 Vendor Market Share**
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 Thor Industries Inc.
6.3.2 Winnebago Industries.
6.3.3 Forest River Inc.
6.3.4 REV Group
6.3.5 Nexus RV
6.3.6 Triple E RV



Note: Product cover images may vary from those shown
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4 of 5
  • Thor Industries Inc.
  • Winnebago Industries .
  • Forest River Inc.
  • REV Group
  • Nexus RV
  • Triple E RV
Note: Product cover images may vary from those shown
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