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Global Recreational Vehicle (RV) Industry Outlook by Product Type (Motorhomes, Toy Haulers, Fifth Wheels, & Camping Trailers), by Application (Leisure Activities & Business Activities), And by Geography - Market Trends, Size, Statistics, Share, and Opportunity Assessment For Forecast 2016-2024

Published On : 2018-03-09 Report Page : 290 Category: Automotive

Global Recreational Vehicle Market 

Market Overview

A vehicle that combines transportation and temporary living quarters for travel, entertainment and outdoors is called a recreational vehicle (RV). In other words, a recreational vehicle is a vehicle designed for recreational use, as in camping. There are many benefits of owning and traveling in an RV, such as flexibility, convenience, comfort, family appeal, affordability, the lure of the outdoors and adaptability. The people who cannot afford an RV or are not frequent travelers, for them, the RVs are available for the rent. People with recreational vehicles can stay overnight which is commonly known as recreational vehicle park or RV stop. More and more RV parks are expanding each year that provide many facilities.

Goldstein Research analyst forecast that the recreational vehicle units sales are expected to reach 850.0 thousand units by 2024. The recreational vehicles are becoming popular in nature-based tourism as people are preferring tourism through their own private transportation. In the United States, there are 60 RV manufacturers and more than 200 component suppliers. United States recreational vehicle (RV) industry has a total impact of USD 49.7 billion and generating USD 5.7 billion in taxes. Indiana is the major hub for the manufacturing of RV’s, as over 80 percent of U.S. – made RVs are manufactured in Indiana.  

Covered In This Global Recreational Vehicle Market Report      

The report covers the present ground scenario and the future growth prospects of the Recreational Vehicle market for 2016-2024 along with the new product launches, collaborations, and acquisitions by the market players. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. Moreover, our analyst forecast the growth of the industry on the basis of current market trends, research and development activities, emerging markets and traditional markets. Major manufacturers and their value chain analysis from raw material to end-user product distribution have been included in this global RV outlook.

Global Recreational Vehicle Market Segmentation

By Product Type

  • Motorhomes
  • Toy Haulers
  • Fifth Wheels
  • Destination Trailers
  • Camping Trailers

By Application

  • Leisure Activities
  • Business Activities

Based on Geography

  • North America (U.S. & Canada) Recreational Vehicle Market{Market Share (%), Market Size(USD Billion)}
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Recreational Vehicle Market{Market Share (%), Market Size(USD Billion)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden &RoE) Recreational Vehicle Market{Market Share (%), Market Size(USD Billion)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Recreational Vehicle Market{Market Share (%), Market Size(USD Billion)}
  • The Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Recreational Vehicle Market{Market Share (%), Market Size(USD Billion)}

On the basis of application, leisure recreational vehicles are having the highest market share of 56.8%owing to increase in camping and travel usage. In US 200 thousand units of motorhomes, RVs are sold for camping purpose generating revenue of USD 1 million every year. Whereas, on the other hand, the market share of the business recreational vehicle is growing steadily at a market share of 19.60% due increase in mobile offices, medical clinics, isolation units, bathrooms and showers, laundries, bunkrooms, command centers, and classrooms.

Global recreational vehicle market outlook 2016-2024 has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global recreational vehicle market. The report also includes Porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. The global recreational vehicle market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

Our global Recreational Vehicle market report comprises of the following companies as the key players: Eclipse Recreational Vehicles Inc., Gulf Stream Coach Inc., Northwood Manufacturing Inc., Palomino RV, Thor Industries Inc., AL-KO AXIS, Allied Recreation, Aliner and Somerset Folding Camping Trailers, Augusta RV, Coachmen Recreational Vehicle Company, Cruiser RV and DNA Enterprises.

Other high-flying vendors in the market are Fleetwood RV, Forest River, Forks RV, Freightliner Custom Chassis, Grand Design RV, Lifestyle Luxury RV, Little Guy Worldwide, Navistar RV, Newmar, Pleasure-Way Industries, Prime Time Manufacturing and Renegade RV.

According to our global market study on the basis of extensive primary and secondary research:  “One of the major trends in the global recreational vehicle market is the eco-retro recreational vehicle where the vehicle is fitted with solar panels to power it’s onboard accessories and a computer and GPS-system will position the panels to maximize their solar-intake. In addition, the kitchen will swivel, allowing for meal prep inside or out.”

According to the report, major driving factor for recreational vehicle market is the increase of travel and tourism among people especially the younger generation. Consumers want to travel but don’t want to invest in hotels and search for comfortableness. The RV tourism is set to reach the valuation of USD 10 billion by 2020.

Further, the report states the major challenge is the high cost of the recreational vehicles in both the terms to travel as well as to own it. The maintenance, cleaning, loading, and unloading are very expensive. There are many hidden costs which are hampering the global recreational vehicle market.

Based on geography, North America dominated the global motorhome market with the market share of 41.2% in 2016 due to growth in travel and tourism in the United States. The United States recreational market rose with an annual growth rate of 4.8% in 2016 as compared to the growth in 2015. On the other hand, Asia-Pacific motorhome market is growing steadily with a CAGR of 10.0% owing to increase the interest of young and old generation in motorhomes. With the increase in technological advancements and high-tech featured motorhomes, the population living in major economies such as China, Japan, India, Australia and New Zealand are spending more and more in motorhomes.  

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this Recreational Vehicle Market report

  • What is the total market size by 2024 and what would be the expected growth rate of the market?
  • What is the revenue of recreational vehicle in 2015-16 and what would be the expected demand over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry-level players?
  • What are the recent developments and business strategy of the key players?

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Global Recreational Vehicle (RV) Industry Outlook by Product Type (Motorhomes, Toy Haulers, Fifth Wheels, & Camping Trailers), by Application (Leisure Activities & Business Activities), And by Geography - Market Trends, Size, Statistics, Share, and Opportunity Assessment For Forecast 2016-2024

A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements

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A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements