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Motorhome Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 100 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4534499
The Motorhome Market was valued at USD 24.16 billion in 2021 and is expected to reach USD 39.81 billion by 2027 registering a CAGR of above 8% during the Forecasts period (2022 - 2027).

The outbreak of COVID-19 and the subsequent shutdowns have affected the motorhome market in several countries. The pandemic's negative impacts are visible in the sales figure of the first few months of 2020 and 2021 in the major market. However, the motorhome market started gaining momentum; as campers have begun opting for safer motorhome vacations, the growth is expected to continue in the coming years.

Over medium term, rapidly increasing demand for comfortable travel and accommodation of large passenger groups will fuel the adoption of Motorhomes across the globe. The shift in consumer preference from conventional holiday packages to road trips is driving the market demand for towable and motorized recreational vehicles. Further, implementation of stringent vehicle emission regulations is encouraging consumers to switch to electric and hybrid recreational vehicles, augmenting the market size.

Motorhomes have an additional preferred position of diminishing excursion costs over other regular get-away exercises. The previously mentioned advantages have been driving an expanding interest for motorhomes in the market in the course of recent years and this is probably going to keep during the conjecture time frame. However, high rental cost of motorhomes expected to restrain growth of market.

North America captured a significant share of the global motorhome market in 2020, owing to the increasing number of households owning motorhomes (most of them being millennials) and the growing demand for motorhome rentals in the region.

Key Market Trends


Increasing Demand for Class C Motorhome to Drive Demand in the Market


Type C motorhomes are more compact than Type A but bigger than Type B, offering a limited level of luxury and comfort. They typically range between 20 to 33 feet. Type C is usually built on truck chassis.

Being built upon existing bodies, these RVs do not cost much and are preferred by families on a budget. They are often referred to as mini-motorhomes, which provide a larger motorhome's amenities in a scaled-down version and at a lower price. The price of these motorhomes starts from approximately USD 40,000 and goes up to USD 200,000.
  • Many recreational vehicle manufacturers are launching Type C recreational vehicles using Ford and Mercedes-Benz chassis. For instance, in August 2020, Thor Motor Coach launched the Mercedes-Benz Type C recreational vehicle. Coach Home Platinum 2 uses Ford Transit 3500, while Forest River 2401Q uses Mercedes-Benz Sprinter 3500 chassis.
  • Most of the manufacturers are looking to roll out various advancements in their class C versions. These RV manufacturers are increasing their class C models, making them bulky by shifting out from the van chassis and opting for a large Ford, Chevy, or other heavy-duty vehicle chassis.
Most of these larger versions are also diesel-powered, making them apt to pull heavier loads while being fuel-efficient compared to gasoline engines. Such developments expected to influence demand positively in the market during the Forecasts period.



North America Region Expected to Play Key role in the Market


North America captured a major share during the Forecasts period owing to the increasing number of households owning motorhomes (a majority-owned by millennials) and the growing demand for motorhome rentals in the region. United States is one of the key manufacturing hub of RVs worldwide. According to a study commissioned by the Recreation Vehicle Industry Association, the United States’ ownership of RVs is increasing rapidly.
  • According to the RV Industry Association’s RV Industry Association’s December 2021 survey of manufacturers determined that total RV shipments for 2021 ended with a record 600,240 wholesale shipments, surpassing the 2017 total of 504,599 shipments by 19%.
  • Total RV shipments for 2021 increased 39.5% over the 430,412 units shipped in 2020. Towable RVs, led by conventional travel trailers, ended 2021 up 39.6% against 2020 with 544,028 wholesale shipments. Motorhomes finished the year up 37.8% compared to 2020 with 56,212 units. Park Model RV finished the year up 5.7% compared to 2020 with 3,923 units shipped.
Motorhomes are being widely used in the country, not only for vacation traveling but also for tailgating, traveling with pets, business, and as a preferred mode of transportation in outdoor sports and other leisure activities. The increase in the number of campgrounds in the country illustrates the increasing preference for recreational travel with motorhomes.

Additionally, sellers are providing lucrative deals and benefits not just on new motorhome models but also on pre-owned units, along with easy financing facilities for qualified borrowers. The surge in the demand for these vehicles is inviting interest from big financial players to take the opportunity and grab the market.
  • In December 2020, DLL, a global asset finance company for equipment and technology, partnered with Northern Lite, a manufacturer of high-quality 4-season truck campers. Recreational vehicle dealers will now have the benefit and option of financing their Northern Lite inventory purchases with DLL anywhere in North America.
Further, increasing adoption rate of motorhomes by the younger generation, the advent of motorhomes with technological improvements, and a healthy economy are expected to significantly contribute to the market's growth during the Forecasts period.



Competitive Landscape


Some of the major players in the motorhome market are Thor Industries, Inc., Winnebago Industries, Inc., and Forest River, Inc. The competition among the manufacturers has been increasing over the past few years, owing to the growing demand for fuel-efficient vehicles.
  • In September 2021, Modernization of Bürstner‘s logistics and production facilities in Kehl The newly constructed production and logistics hall has now been officially handed over to those responsible at Bürstner, resulting in the realization of a reorganized structure, a state-of-the-art logistics concept and further standardization with the aim of higher productivity and, in parallel, a production capacity increase.
Major players are trying to consolidate their sales by cutting down the costs, while smaller players are focusing on new product launches and expansions. Market leaders are trying to acquire smaller players. For instance,
  • In February 2019, Thor Industries Inc. announced the complete acquisition of Erwin Hymer Group, excluding its North American business.
  • In March 2020, Volkswagen launched the e-Bulli camper van. This camper van has 82bhp and a range of 124 miles on a single charge. Other such recent electric type b recreational vehicle launches were Fiat Ducato, Nissan Pop Top Electric, Iridium E-Mobile, Dalbury E-Electric, MOIA electric, Mercedes Sprinter, and many others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size in Value - USD billion)
5.1 Type
5.1.1 Class A
5.1.2 Class B
5.1.3 Class C
5.2 End User
5.2.1 Fleet Owners
5.2.2 Direct Buyers
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 South America
5.3.4.2 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Thor Industries, Inc.
6.2.2 Winnebago Industries, Inc.
6.2.3 Dethleffs GmbH & Co. KG
6.2.4 Hymer GmbH & Co. KG
6.2.5 Forest River Inc.
6.2.6 Rapido Motorhomes
6.2.7 The Swift Group
6.2.8 Tiffin Motorhomes Inc.
6.2.9 Triple E Recreational Vehicles
6.2.10 BÜRSTNER GMBH & CO. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Thor Industries, Inc.
  • Winnebago Industries, Inc.
  • Dethleffs GmbH & Co. KG
  • Hymer GmbH & Co. KG
  • Forest River Inc.
  • Rapido Motorhomes
  • The Swift Group
  • Tiffin Motorhomes Inc.
  • Triple E Recreational Vehicles
  • BÜRSTNER GMBH & CO. KG

Methodology

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