Home > Automotive & Transportation > Caravans Market

Caravans Market Size By Type (Conventional Caravans, Tent Trailer, Pop-Top, Pop-Out, Camper Trailer, Fifth Wheeler), By Price (Standard, Luxury), By End-use (B2B/Fleet Owner, B2C/Individual), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5420
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

Caravans Market size exceeded USD 20 billion in 2022 and is projected to expand at more than 4% CAGR from 2023 to 2032.
 

Caravans Market

Get more details on this report - Request Free Sample PDF
 

High spending on leisure activities and new government initiatives to boost the tourism sector would drive market growth. According to a World Travel & Tourism Council (WTTC) report, domestic travel and tourism spending in the United States was forecasted to reach USD 1.1 trillion by February 2023, surpassing pre-pandemic levels by 11.3%.
 

Many caravan associations have been formed to protect the rights of distributors, manufacturers, and users’ interests. For example, the RV Industry Association (RVIA) represents over 450 component suppliers and manufacturers, which amounts to nearly 98% of the RVs made in the United States. Increasing disposable incomes, improving economic conditions across developed countries, and availability of multiple caravan models at attractive prices would positively influence industry trends.
 

The high cost of purchase and maintenance of caravans may hamper industry progression. The high-quality materials used in these vehicles make the production cost of RVs high. Similarly, the beautification of these vehicles from exteriors to interiors increases the price of the overall vehicle. Apart from this, government regulations related to climate change and clean air initiatives are imposing charges on caravan owners.
 

Launch of new fifth-wheeler caravan models to accelerate industry expansion

Caravans Market Share, By Type

Get more details on this report - Request Free Sample PDF
 

Caravans market from the fifth wheeler vehicle segment is expected to record global sales of more than 140 thousand units by 2032. Fifth-wheel recreational vehicles (RVs) are easy to set up for owners as they have auto-leveling systems and split-level designs which enhance privacy. The increasing demand for these caravans would compel many manufacturers to work on new product launches. For instance, in July 2022, ATC, an industry-leading manufacturer of trailers and RVs, announced the launch of its 2023 toy hauler models, namely the Pl? ™ 500 Series and 700 Series. The new models are loaded with new design details and advanced technology that enhance comfort and usability.
 

Introduction of caravan rental services to influence B2B/Fleet owner segment growth

Caravans market value from the B2B/Fleet owner segment is anticipated to reach around USD 5 billion by 2032. This growth is attributed to the increasing number of caravan rental services offered globally. The high cost of buying new caravans, like a travel trailer or a motorhome, has encouraged consumers to choose to opt for rental services. For example, RecNation, a leading owner and operator of specialized RVs announced the launch of RecNation Rental. This will facilitate RecNation customers to rent out their vehicles and earn additional income. 
 

Authors: Preeti Wadhwani, Shamal Gawande

Frequently Asked Questions (FAQ) :

The market size of caravans crossed USD 20 billion in 2022 and is slated to record over 4% gains through 2032.

The B2B/Fleet owner segment is expected to reach USD 5 billion by 2032 due to the increasing number of caravan rental services offered globally.

The Asia Pacific region held more than 5% of the revenue share in 2022 owing to easy availability of inexpensive labor and low-cost raw materials.

Thor Industries, Forest River Inc., Winnebago Industries, and REV Recreation Group are some of the major companies that are operating in the global industry.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Premium Report Details

  • Base Year: 2022
  • Companies covered: 17
  • Tables & Figures: 429
  • Countries covered: 24
  • Pages: 320

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount