Recreational Vehicles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

The global recreational vehicles market is expected to reach US$ 68.47 Bn by 2029, registering a steady resurgent growth of 5.9% during the forecast period from 2021 to 2029.

North America to remain largest Recreational Vehicle market by 2029

In 2020, North America led the recreational vehicle market worldwide in terms of both value and units shipped. The region alone accounts for almost half of the global recreational vehicle sales and is presumed to retain its supremacy through the forecast period, exhibiting resurgent growth post economic recovery. The region is domicile to large number of established manufacturers, exporters, and has huge base of population aging between 55 and 60 years that represent major end-users of recreational vehicles. Over 80 percent of the total recreational vehicles produced in the U.S. are manufactured in in Indiana, with the majority in Elkhart County. Over 9 Mn households in the U.S. own at least one recreational vehicle. In addition, regulated demand for RVs with state-of-the-art accessories and home-like amenities among wealthy sections of society will keep market demand afloat in North America. On the other hand, Asia Pacific is foreseen to register superior growth during the forecast period. Australia and China are the two major recreational vehicle markets in Asia Pacific. The anticipated growth will be influenced by increasing discretionary income, rising consumer interest in recreational vehicle camping, and initiatives taken by the governments in several countries to develop tourism.

Travel Trailers to Dominate Throughout the Forecast Period

Currently, travel trailers are the most preferred recreational vehicle variants among end-users. The value contribution of travel trailers stood at over 55% of the global recreational vehicle market value in 2020. The dominance of travel trailers is a result of convenience offered by them in towing and their use in wide range of recreational activities. On the other hand, motor homes, relatively expensive than towing variants are registering resurgent growth after witnessing decline during economic recession. The growth can be largely credited to an increase in the baby boomer demographic in developed countries that are likely to buy a motor home, on the back of increased leisure time. In addition, preference for elegant interiors and home-like amenities during recreational activities will drive demand for motor homes during the forecast period from 2021 to 2029.

Key Players:

Some of the leading manufacturers profiled in the research study include Thor Industries Inc., Winnebago Industries Inc., Kropf Industries, Forest River Inc., Crossroads RV, Fleetwood Corporation, GMC Motorhome, REV Group Inc, Skyline Corporation, Triple E Recreational Vehicles, Nexus RV LLC, Tiffin Motorhomes, Inc., and Dethleffs Motorhomes among others.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2019 to 2029, considering 2020 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2021 to 2029.

Key segments covered in the report are as follows:

Vehicle Type Segment (2019-2029; US$ Bn)

• Travel Trailers
• Motor Homes
• Campers & Camping Trailers
• Conversion Vehicles

Power Source Segment (2019-2029; US$ Bn)

• Gasoline
• Diesel
• Electric

Geography Segment (2019-2029; US$ Bn)

• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, Australia, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

• What was the global recreational vehicles market size in 2019 & 2020?
• What is the estimated forecast and market projections for the global recreational vehicles market from 2020 up to 2026?
• Which is the largest regional recreational vehicles market?
• Which recreational vehicle variant contributes the largest revenue worldwide?
• Which recreational vehicle segment will be the most attractive segment for investment?
• Predominant trends shaping the global recreational vehicles market worldwide
• Who are the leading manufacturers in the global recreational vehicles market worldwide?
• What are the key strategies adopted by the leading manufacturers in the global recreational vehicles market?

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