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Recreational Vehicle Market - Global Outlook and Forecast 2020-2025

  • ID: 5137055
  • Report
  • August 2020
  • Region: Global
  • 307 Pages
  • Arizton
UP TO OFF until May 31st 2022
1h Free Analyst Time
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

FEATURED COMPANIES

  • Adria Mobil
  • Bailey of Bristol
  • Fendt Caravan
  • Gulf Stream Coach
  • Oliver Travels
  • Rapido Group
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Recreational Vehicle Market Report

The global recreational vehicle market by revenue is expected to grow at a CAGR of over 7% during the period 2019–2025.

The global recreational vehicle market size to reach $42 billion in 2020 and is projected to grow on account of the increasing demand for camping and outdoor recreational activities in the millennial population, especially in the US. In the US, the number of active camp households increased by 1.4 million in 2018. The growing number of active campers is contributing to the demand for RVs. The commercial usage of RV is on the rise. The rental facilities are boosting the growth of the market. The growth in peer-to-peer rental services is also influencing the popularity among millennials, which are increasingly seeking rental services.

Because of the outbreak of the COVID-19 pandemic, the global Recreational Vehicle market is expected to witness rapid growth, especially in North America and Europe. As these vehicles provide a reliable and personal way to travel, it is considered the safest travel alternative during the coronavirus pandemic, while maintaining social distance norms. While the spread of virus and limitations for travel and transportation is stringent, the demand for RV is expected to grow across geographies in 2020. Further, the increasing demand for road trips as a getaway from quarantine would also boost growth. The post lockdown period is likely to witness the rise in the number of first-time buyers.

The following factors are likely to contribute to the growth of the recreational vehicle market during the forecast period:
  • Increase in Recreational Vehicle Rental Services
  • Introduction of Smart & Autonomous Technology
  • Growth in Demand for Adventure Camping
  • Millennials influencing Recreational Vehicle Market

The study considers the present scenario of the global recreational vehicle market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Recreational Vehicle Market Segmentation

The recreational vehicle market research report includes a detailed segmentation by Product, application, and geography. The towable recreational vehicle market is expected to grow at a CAGR of over 6% during the period 2019–2025. Towable RVs are more prevalent in North America than in Europe. The shipment accounted for 89% of the total shipments in North America in 2019. Travel trailers are the most popular towable segment. Consumers mostly prefer them as they are the most inexpensive. They are cheaper and more straightforward than motorhomes and are also available in a wide range of designs, sizes, and prices.

Motorhomes are available in three varieties - Class A, Class B, and Class C. The Class A segment is one of the most common motorized RVs. It accounted for over 40% of the global motorhome revenue in 2019. Class B motorhomes accounted for over 12% of the worldwide motorhome revenue in 2019, and the segment is witnessing the fastest growth. They are typically more affordable to maintain and have better fuel economy than larger counterparts. The class C segment is expected to reach over $13 billion by 2025. Class C combines the best features of both Class A and B into a more versatile and affordable mid-size motorhome. Class A motorized are expected to continue to dominate in terms of revenue, contributing approx. 50% of the global recreational vehicle market share in 2019.

Private ownership of RV has been dominating the shipments; however, the market scenario is changing rapidly. The commercial usage of RV is growing substantially in rental agencies and businesses. The growth in online rental websites and applications has further eased the process of renting, boosting the demand in the tech-savvy millennial population. North America also dominated the commercial sales in 2019 and is likely to dominate during the forecast period. The US is the largest commercial RV market across the globe, which is primarily dominated by rental agencies.

The RV ownership reached nine million in 2019. The rapid rise in ownership indicates a resurgent interest in the RV lifestyle. With an increasing number of millennials embracing this lifestyle, the demand is expected to further boost during the forecast period. About 38% of the 40 million recreational vehicle owners in the US are millennials. The rise in camping trailers & activities is a major factor driving the growth of the segment.

Segmentation by Products
  • Towable RV
  • Travel Trailers
  • Fifth Wheel
  • Folding Utility Trailers
  • Sports Utility Trailers/Toy Haulers
  • Motorized RV
  • Class A
  • Class B
  • Class C
Segmentation by Application
  • Private
  • Commercial

INSIGHTS BY GEOGRAPHY

The North American recreational vehicle market is the largest across the globe. RV is highly popular among Americans, and over 11% of households own an RV. Over 1 million households in the US live in RV full time. It allows traveling at 20–60% less cost, which is mainly driving the popularity of RV among millennials. The recreational vehicle market contributes an overall $114 billion to the US economy, employing over 600,000 people. Thus, RV is one of the global industries in the US economy. Millennials are particularly driving the market for a recreational vehicle in North America. About 44% of campers in 2018 reported being interested in traveling in RV across different destinations.

Segmentation by Geography
  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Netherlands
  • APAC
  • China
  • Japan
  • Australia
  • Latin America
  • Brazil
  • Mexico
  • Middle East & Africa
  • Saudi Arabia
  • Turkey
  • South Africa

INSIGHTS BY VENDORS

Low entry barriers characterize the global recreational vehicle market, and it is intensely competitive with the presence of several manufacturers selling products that compete directly through product features. Thor Industries, Forest River, Winnebago Industries, and REV Group are some of the key vendors operating in the market. The competition is based upon price, design, value, quality, insurance coverage, and service. North America constitutes the largest RV market globally, with US brands dominating the global RV industry. Low entry barriers result in numerous existing and potential RV manufacturing competitors.

Prominent Vendors
  • Thor Industries
  • Forest River
  • Winnebago Industries
  • REV Group

Other Prominent Vendors
  • Adria Mobil
  • Auto-Trail
  • Dethleffs
  • Gulf Stream Coach
  • Knaus Tabbert
  • Nexus RV
  • Rapido Group
  • Rimor
  • Tiffin Motorhomes
  • Triple E Recreational Vehicles
  • Bailey of Bristol
  • Auto-sleepers
  • Fendt Caravan
  • Giottiline
  • Oliver Travels
  • Phoenix USA RV
  • Custom Coach
  • Pleasure-way
  • Roadtrek
  • Adventurer LP Manufacturer

KEY QUESTIONS ANSWERED

1. What is the recreational vehicle (RV) market size and growth rate during the forecast period?
2. What are the factors influencing the North American recreational vehicle market growth?
3. What are some of the smart and autonomous technology incorporated in the recreational vehicle?
4. Who are the leading RV industry competitors and what is the market share of Thor Industries?
5. What is the impact of the COVID-19 pandemic on the recreational vehicle market trends?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Adria Mobil
  • Bailey of Bristol
  • Fendt Caravan
  • Gulf Stream Coach
  • Oliver Travels
  • Rapido Group

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Impact Of Covid-19 On RV Industry
8 Market Opportunities & Trends
8.1 Popularity Of RV Rental Services
8.2 Introduction Of Smart & Autonomous Technology
8.3 Lithium Battery & Solar Technology
9 Market Growth Enablers
9.1 Growing Demand For Adventure Camping
9.2 Millennials Influencing RV Market
9.3 High Cost Saving Opportunities
10 Market Restraints
10.1 Low Penetration In Underdeveloped Markets
10.2 Stringent Government Regulations
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast: Revenue & Shipments
11.3 Five Forces Analysis
12 By Product Type
12.1 Market Snapshot & Growth Engine By Revenue
12.2 Market Snapshot & Growth Engine By Volume
12.3 Market Overview
13 Towable RV
13.1 Market Size & Forecast
13.2 Market By Geography
13.3 Travel Trailers
13.4 Fifth Wheel Trailers
13.5 Folding & Pop-Up Trailers
13.6 Sports Utility Trailers/Toy Haulers
14 Motorhomes
14.1 Market Size & Forecast: Revenue & Shipments
14.2 Market By Geography: Revenue & Shipments
14.3 Class A Motorhomes
14.4 Class B Motorhomes
14.5 Class C Motorhomes
15 By End-User
15.1 Market Snapshot & Growth Engine By Volume
15.2 Market Overview
15.3 Commercial
15.4 Private
16 By Geography
16.1 Market Snapshot & Growth Engine By Revenue
16.2 Market Snapshot & Growth Engine By Shipments
16.3 Geographic Overview
17 North America
17.1 Market Size & Forecast: Revenue & Shipments
17.2 Product Type
17.3 End-Users Type
17.4 Key Countries: Revenue & Shipments
18 Europe
18.1 Market Size & Forecast: Revenue & Shipments
18.2 Product Type
18.3 End-Users Type
18.4 Key Countries: Revenue & Shipments
19 APAC
19.1 Market Size & Forecast: Revenue & Shipments
19.2 Product Type
19.3 End-Users Type
19.4 Key Countries: Revenue & Shipments
20 Latin America
20.1 Market Size & Forecast: Revenue & Shipments
20.2 Product Type
20.3 End-Users Type
20.4 Key Countries: Revenue & Shipments
21 Middle East & Africa
21.1 Market Size & Forecast: Revenue & Shipments
21.2 Product Type
21.3 End-Users Type
21.4 Key Countries: Revenue & Shipments
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 Thor Industries
23.2 Forest River Inc.
23.3 Winnebago Industries Inc.
23.4 REV GROUP
24 Other Prominent Vendors
24.1 Gulf Stream Coach
24.2 Nexus RV
24.3 Auto-Trail
24.4 Rimor
24.5 Rapido Group
24.6 Knaus Tabbert
24.7 Triple E Recreational Vehicles
24.8 Tiffin Motorhomes
24.9 Adria Mobil
24.10 Bailey Of Bristol
24.11 Auto-Sleepers
24.12 Fendt Caravan
24.13 Giottiline
24.14 Oliver Travel Trailers
24.15 Phoenix USA RV
24.16 Custom Coach
24.17 Pleasure-Way
24.18 Roadtrek
24.19 Adventurer LP Manufacturing
24.20 Dethleffs
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Product Type
26.2 Towable RV
26.3 Motorized RV
26.4 End-Users
26.5 Market By Geography
26.6 North America
26.7 Europe
26.8 APAC
26.9 Latin America
26.10 Middle East & Africa
27 Appendix
27.1 Abbreviations
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Thor Industries
  • Forest River
  • Winnebago Industries
  • REV Group
  • Adria Mobil
  • Auto-Trail
  • Dethleffs
  • Gulf Stream Coach
  • Knaus Tabbert
  • Nexus RV
  • Rapido Group
  • Rimor
  • Tiffin Motorhomes
  • Triple E Recreational Vehicles
  • Bailey of Bristol
  • Auto-sleepers
  • Fendt Caravan
  • Giottiline
  • Oliver Travels
  • Phoenix USA RV
  • Custom Coach
  • Pleasure-way
  • Roadtrek
  • Adventurer LP Manufacturer
Note: Product cover images may vary from those shown

Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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