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Recreational Vehicle Market Size, By Vehicle (Motorhomes [By Class {Class A, Class B, Class C}, [By Fuel {Gasoline, Diesel}], Towable RVs [By Type {Travel Trailer, Fifth Wheel, Tent Trailer}]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2027

  • Report ID: GMI2967
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Recreational Vehicle Market size exceeded USD 55 billion in 2020 and is poised to grow at a CAGR of over 10% from 2021 to 2027. Increasing inclination of consumers toward recreational and leisure activities is likely to fuel the industry growth.

Recreational Vehicle Market Overview

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Growing emphasis on travel and tourism in Asia Pacific and Europe is creating robust growth opportunities for the market. Travel and tourism will propel the demand for recreational activities, supporting the market for recreational vehicles. As per the data published by the World Bank, the number of international tourists in India has increased from 17.4 million in 2018 to 17.9 million in 2019, supporting the market expansion. This will create huge opportunities for recreational vehicles in India over the coming years.

Technological progressions including electric powertrains and advanced batteries have boosted the introduction of electric recreational vehicles. The implementation of stringent vehicle emission regulations is leading consumers to switch to hybrid & electric recreational vehicles, increasing their industry share. The integration of progressive technologies, such as collision mitigation systems and driver assistance, into motorhomes will improve pedestrian and passenger safety, surging the market revenue.

One of the major factors hampering the recreational vehicle market demand is the high initial purchase cost. High-quality & innovative materials, which are used for weight reduction in recreational vehicles, coupled with the customization of exterior & interior features will contribute subsequently to the overall vehicle cost. Motorhomes also incur high insurance costs and other insurance & road tax-related expenditures, increasing the market price of leisure vehicles. Frequent replacement and maintenance of refilling gas and batteries in power generators fetch heavy expenses, resulting in high operating costs that will challenge the industry growth.

The global market witnessed a temporary slowdown during the first two quarters of 2020 owing to the rising spread of the COVID-19 pandemic. Strict measures implemented for the containment of the virus have impacted the industry ecosystem of recreational vehicles on a large scale. Several market factors including limited availability of labor and raw materials have led to numerous difficulties in the development and design of new vehicles, generating a vast gap in demand and supply. However, the industry in the third and fourth quarter of 2020 showcased significant market value led by relaxation on lockdown regulations and shifting consumer focus on leisure activities.

Demand for motorhomes will proliferate due to the increasing consumer spending on luxury recreational vehicles

Recreational Vehicle Market Size

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The Europe motorhome RVs segment dominated more than 85% of the recreational vehicle market share in 2020. A surge in the demand for motorhome recreational vehicles can be attributed to floor space and superior luxury offered by these vehicles. Motorhomes provide progressive features and comprise foldable furniture that can be used as per user requirements. The ability of motorhomes to be driven without a carrier is supporting their rising industry demand.

The gasoline segment observes a high growth rate impelled by its higher RPM advantages in passenger vehicles. Gasoline is more combustible than diesel, thereby enhancing the engine power significantly. Companies are focusing on designing recreational vehicles that operate at a higher RPM without the need for a wide space in petrol engines. This will result in smaller engine components and smaller combustion chambers, offering improved fuel efficiency that will augment the industry expansion.

Growing participation in recreational activities to drive the industry revenue in the North America region

North America Recreational Vehicle Market

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North America recreational vehicle market size was over USD 20 billion in 2020, with the unit sales of more than 470,000 vehicles. The increasing demand for leisure & recreational activities in the region is propelling the industry value. Rising sports activities are generating lucrative growth opportunities for the market. Furthermore, the rapidly increasing number of camping grounds & recreational parks in the region will contribute to the demand for recreational vehicles.

Players are focusing on new product launches to boost their market share

Prominent companies operating in the market include Thor Industries, Winnebago Industries, Forest River, Inc., and REV Recreation Group. Other noteworthy market players include Airstream, Erwin Hymer, Highland Ridge, Crossroads RV, Skyline Corporation, Cruiser RV, DRV Luxury Suites, Dutchmen RV, Grand Design RV, Fleetwood Corporation, Kropf Industries, Keystone RV, Pleasure-Way Industries, and GMC Motorhome. Industry manufacturers are primarily focused on adopting strategies, such as mergers & acquisitions and R&D investments, to influence their revenue share.

This market research report on recreational vehicle includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2016 to 2027 for the following segments:

Market, By Vehicle

  • Motorhomes 
    • By Class
      • Class A
      • Class B
      • Class C
    • By Fuel
      • Gasoline
      • Diesel 
  • Towable RVs
  • Travel Trailer
  • Fifth Wheel
  • Tent Trailer

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Netherlands
    • Norway
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE


Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market for recreational vehicles generated USD 55 billion during 2020 and will record an 11% CAGR through the forecast years 2021-2027.

Motorhomes captured around 85% revenue share of Europe RV industry in 2020 and will continue to dominate the regional market owing to benefits such as greater floor space and superior luxury.

Gasoline RVs segment will record a substantial growth rate through 2027 due to their higher RPM advantage in passenger vehicles.

The North America market for recreational vehicles had reached USD 20 billion in 2020 with more than 470,000-unit sales.

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Premium Report Details

  • Published Date: Apr 2021
  • Companies covered: 28
  • Tables & Figures: 486
  • Countries covered: 19
  • Pages: 300

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