The European recreational vehicle market is valued at USD 24.1 billion and is expected to reach USD 45.6 billion by 2027, registering a CAGR of over 11.3% during the forecast period (2022-2027).
Due to COVID-19, Brexit, and the economic crisis, the market registered a decline in 2020. RV shipments increased in Europe mainly due to travel restrictions imposed on account of COVID-19, as it restricted the travelers from international travel due to lockdown. However, after the ease in lockdowns, travelers actively started opting for RV-related activities from the last month of Q2 2020, which continued till the end of the year and provided recovery to the market studied.
With the increase in the per capita income, the number of high-net-worth individuals (HNWI) in Europe is also witnessing a continuous increase. In 2020, Europe accounted for about one-fifth of the total number of HNWIs, worldwide. Countries such as the United Kingdom, Germany, Switzerland, Sweden, France, Spain, and Italy accounted for the majority of HNWIs across Europe.
With the increasing per capita income and increase in the number of HNWI, the average spending on recreational activities, such as traveling and camping, is witnessing a consistent increase across Europe.
Moreover, the number of millennials is witnessing an increase in Europe. In 2020, the region accounted for one-fifth of the total number of millennials across the world, and the number is anticipated to increase during the forecast period.
The market is being driven by rising per capita income and increased interest in leisure and recreational activities. Recreational vehicles (RVs) have long been linked with camping, which has recently experienced a surge due to an increase in the number of millennial tourists. A variety of campsites are accessible around the area, which sees a strong influx of tourists.
On the other hand, leading motorhome manufacturers are broadening their product offerings. In addition, with more rigorous emission standards, the electrification of motorhomes and camper vans is becoming a key trend in the RV business. In recent years, top OEMs and startups have attempted to combine numerous technological improvements into RVs in order to make them more appealing and interesting as opposed to dull same design vehicles.
According to the European Caravan Federation, in 2021, around 78,175 new motor caravans were registered, which was 44% more than the previous year. According to the Caravaning Industry Association, the German caravanning industry in 2020 recorded a value of EUR 11.7 billion, which was 3.9% more than the last year.
RVing has become more popular in Germany in recent years than it has ever been. This is reinforced by significant growth in the market for new and used recreational vehicles (motorhomes, camper vans, and caravans), as well as a significant increase in RV rentals.
The demographics of German RV consumers have shifted. Previously, the majority of this low-cost vacationing was done by families with children and seniors. RV trips are becoming increasingly popular among younger generations with greater income levels. Customers demand freedom, independence, and flexibility, as well as comfort, convenience, individualism, and even luxury.
At the same time, campsites across Europe are fast developing. Campgrounds have been updated and now offer a variety of new amenities and features. The services supplied range from updated laundry facilities, Wi-Fi connections, and supermarkets to wellness centers, pools, and spas, as well as access to water parks, go-kart tracks, and other sporting facilities. Campground vacations resemble a full-service, activity-filled family holiday, competing with resort-style accommodations. Camping has evolved into a luxury holiday, and the idea of the low-cost family trip is disappearing. Money is no longer as important as it once was, and personal well-being is taking center stage. The transition from conventional tents to pricey campers and RVs is a visible indicator.
The European recreational vehicle market is fragmented due to the presence of many local and global players, such as Thor Industries Inc., Swift Group, and Hymer AG, among others. The market is transforming at a rapid pace, and local companies are facing tough companies from the US RV manufacturers, such as Forest River Inc., Winnebago Industries Inc., and Thor Industries Inc. As a result, companies are incorporating the latest technologies in their latest RV models to provide the best experience to the occupants.
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Due to COVID-19, Brexit, and the economic crisis, the market registered a decline in 2020. RV shipments increased in Europe mainly due to travel restrictions imposed on account of COVID-19, as it restricted the travelers from international travel due to lockdown. However, after the ease in lockdowns, travelers actively started opting for RV-related activities from the last month of Q2 2020, which continued till the end of the year and provided recovery to the market studied.
With the increase in the per capita income, the number of high-net-worth individuals (HNWI) in Europe is also witnessing a continuous increase. In 2020, Europe accounted for about one-fifth of the total number of HNWIs, worldwide. Countries such as the United Kingdom, Germany, Switzerland, Sweden, France, Spain, and Italy accounted for the majority of HNWIs across Europe.
With the increasing per capita income and increase in the number of HNWI, the average spending on recreational activities, such as traveling and camping, is witnessing a consistent increase across Europe.
Moreover, the number of millennials is witnessing an increase in Europe. In 2020, the region accounted for one-fifth of the total number of millennials across the world, and the number is anticipated to increase during the forecast period.
Key Market Trends
Growing Recreational Vehicles Rental Services
The market is being driven by rising per capita income and increased interest in leisure and recreational activities. Recreational vehicles (RVs) have long been linked with camping, which has recently experienced a surge due to an increase in the number of millennial tourists. A variety of campsites are accessible around the area, which sees a strong influx of tourists.
On the other hand, leading motorhome manufacturers are broadening their product offerings. In addition, with more rigorous emission standards, the electrification of motorhomes and camper vans is becoming a key trend in the RV business. In recent years, top OEMs and startups have attempted to combine numerous technological improvements into RVs in order to make them more appealing and interesting as opposed to dull same design vehicles.
Germany is Anticipated to Hold Major Share in the Market
According to the European Caravan Federation, in 2021, around 78,175 new motor caravans were registered, which was 44% more than the previous year. According to the Caravaning Industry Association, the German caravanning industry in 2020 recorded a value of EUR 11.7 billion, which was 3.9% more than the last year.
RVing has become more popular in Germany in recent years than it has ever been. This is reinforced by significant growth in the market for new and used recreational vehicles (motorhomes, camper vans, and caravans), as well as a significant increase in RV rentals.
The demographics of German RV consumers have shifted. Previously, the majority of this low-cost vacationing was done by families with children and seniors. RV trips are becoming increasingly popular among younger generations with greater income levels. Customers demand freedom, independence, and flexibility, as well as comfort, convenience, individualism, and even luxury.
At the same time, campsites across Europe are fast developing. Campgrounds have been updated and now offer a variety of new amenities and features. The services supplied range from updated laundry facilities, Wi-Fi connections, and supermarkets to wellness centers, pools, and spas, as well as access to water parks, go-kart tracks, and other sporting facilities. Campground vacations resemble a full-service, activity-filled family holiday, competing with resort-style accommodations. Camping has evolved into a luxury holiday, and the idea of the low-cost family trip is disappearing. Money is no longer as important as it once was, and personal well-being is taking center stage. The transition from conventional tents to pricey campers and RVs is a visible indicator.
Competitive Landscape
The European recreational vehicle market is fragmented due to the presence of many local and global players, such as Thor Industries Inc., Swift Group, and Hymer AG, among others. The market is transforming at a rapid pace, and local companies are facing tough companies from the US RV manufacturers, such as Forest River Inc., Winnebago Industries Inc., and Thor Industries Inc. As a result, companies are incorporating the latest technologies in their latest RV models to provide the best experience to the occupants.
- In August 2021, Hymer GmbH & Co. KG presented its new products for the upcoming 2022 model year from the Hymer Motor Caravans, Eriba Caravans, and Hymer Original Parts divisions.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Dethleffs GmbH & Co. KG
- Thor Industries Inc.
- Swift Group
- Autotrail motorhomes
- Rimor Motorhomes
- Rapido Motorhomes
- Knaus Tabbert GmbH
- Elnagh
- Globecar motorhome
- Eura Mobil GmbH
Methodology
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