Recreational Vehicle Market Size By Vehicle (Motorhomes [Class A, Class B, Class C], Towable RVs [Travel Trailer, Fifth Wheel, Tent Trailer]), By Fuel (Gasoline, Diesel), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Oct 2018  |  Report ID: GMI2967  |  Authors: Ankita Bhutani

Report Format: PDF   |   Pages: 300   |   Base Year: 2017




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Recreational Vehicle Market size valued at USD 36 billion in 2017 and is estimated to exhibit around 6% CAGR between 2018 and 2024. Rising recreational spending across the globe will boost market demand. Additionally, the government entities are providing recreational facilities such as state parks to support healthy living.
 

Rental industry participants are offering significant number of services to improve the client convenience such as sharing payments, accident insurance, 24-hour roadside assistance, low priced availability. This has led to significant increase in the number of consumers opting for rental options. Thus, to cater the increasing rental demand, commercial players are expected to increasingly invest for their fleet expansion to cater the camping trailer and motorhomes demand which in turn will drive the overall regional market growth.
 

Recreational Vehicle Market
Get more details on this report - Request Free Sample PDF
 

Increasing digitalization, shifting global population dynamics and rapid expansion in the global connectivity are the prime factor positively influencing the industry growth. Moreover, market participants are increasingly investing in the development of state-of-the-art interiors, weather-proof construction, robust material mixes, in turn driving the overall material costs at considerable rates.
 

Recreational Vehicle Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 236 Million (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 6% 2024 Value Projection: 56.5 Billion (USD)
Pages: 300 Tables, Charts & Figures: 350
Geographies covered (19): U.S., Canada, Germany, UK, Italy, France, Spain, Sweden, Netherlands, Norway, China, Japan, India, Korea, Australia, Brazil, Mexico, Saudi Arabia, UAE
Segments covered: Vehicle, Fuel and Region
Companies covered (28): Airstream Inc., Bison RV Center, Columbia Northwest/Aliner Inc., Crossroads RV, Inc., Cruiser RV, DRV Luxury Suites, Dutchmen RV, Entegra Coach, Erwin Hymer Group North America, Fleetwood Corporation Limited, Forest River Inc., GMC Motorhome, Grand Design RV Co., Heartland RVs, Highland Ridge, K-Z, Inc, Kropf Industries, Keystone RV, Redwood RV, Skyline Corporation, REV Recreation Group, Pleasure-Way Industries ltd., Starcraft RV (Thor Industries), Thor Motor Coach, Tiffin Motorhomes Inc., Van Specialties, Venture RV, Winnebago
Growth Drivers:
  • North America
  • Rising preference of millennials towards RVs
  • Increasing recreational vehicle parks
  • Europe
  • Advanced technological features
  • Asia Pacific
  • Increasing recreational spending
  • Latin America
  • Proliferating RV rental services
  • MEA
  • Growing demand for high-end products
Pitfalls & Challenges:
  • High cost of owning and maintaining recreational vehicles

Request 15% Free Customization on this Report
 

Market by Vehicle

In 2017, Motorhomes accounted for over 50% of the global recreational vehicle market revenue share owing to higher luxury and convenience. The vehicle provides more storage, living space and do not require separate carrier. Industry participants are enhancing their manufacturing capabilities to meet previous backlogs.
 

Class A motorhomes have significant share as it can accommodate around 7-10 people and have luxurious amenities such as master bedroom, well-equipped kitchen and bathroom facilities. However, high vehicle cost will limit its dominance in next six years. Class B motorhomes will foresee strong growth with better fuel efficiency and easy parking facility. Further, advancement such as digital thermostat, extra shelving and extra battery capacity will support segment growth.
 

Towable RVs will witness over 6% CAGR through 2024 impelled by lightweight and sturdy construction. Industry players are continuously upgrading their product portfolio to attract more consumers. The towable RVs are more economical and require less maintenance cost.
 

Market by Fuel

In 2017, gasoline recreational vehicle market size was valued at over USD 23 billion owing to economical cost and less maintenance. The gas run RVs have high compression ratio and performs better in cold weather and high altitude. The vehicles generate higher power and offer superior speed control on hilly terrains. Further, countries are strengthening their fuel distribution infrastructure to support automobile industry.
 

Diesel RVs will witness significant growth on account of higher fuel efficiency. Diesel fuel offers greater energy density that reduces fuel consumption. The vehicles have rear engine configuration that limits cabin noise and enhances cooling efficiency. Ongoing vehicle upgradation such as air ride suspension and air brakes have increased vehicle safety.
 

Market by Region

North America will account for approximately 60% market share by 2024 with presence of major RV manufacturers, distributors, and exporters such as Thor Industries, Winnebago Industries, Forest River Inc., and REV Recreation Group.
 

The U.S. is largest manufacturer of RVs across the globe and produces as many as the rest of the world combined. The country has around 60 RV and over 200 component manufacturers with over 80% vehicles being manufactured in Indiana. The manufacturers are increasing their manufacturing capability to improve economies of scale thereby escalating industry growth.
 

Asia Pacific recreational vehicle market will witness significant growth with growing disposable income of the middle-class population and increasing government support for the development of tourism in the region.
 

Competitive Market Share

Major RV manufacturers include Thor Industries, Winnebago Industries, Forest River Inc., and REV Recreation Group. Other significant players include Airstream, Bison RV center, Crossroads RV, Cruiser RV, DRV Luxuty Suites, Dutchmen RV, Erwin Hymer, Fleetwood Corporation, GMC Motorhome, Grand Desigh RV, Highland Ridge, Kropf Industries, Keystone RV, Skyline Corporation, and Pleasure-Way Industries.
 

Industry Background

Recreational vehicle (RV) industry covers the motorized and non-motorized vehicles adopted for leisure activities including camping, hunting and fishing. Government initiatives including carbon emission limits is resulting in higher needs for energy-efficient transportation. This has enabled industry participants to invest in innovative materials for manufacturing RVs with weight considerations and increasing efficiency. The development of electric powertrain for recreational vehicles with reduced carbon emissions and enhanced efficiency will positively influence the business expansion till 2024.
 

The (RV) recreational vehicle research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2013 to 2024, for the following segments:

By Vehicle

  • Motorhomes
    • Class A
    • Class B
    • Class C
  • Towable RVs
    • Travel Trailer
    • Fifth Wheel
    • Tent Trailer

By Fuel

  • Gasoline
  • Diesel

The above information is provided based on region and countries for the following:

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

 

Frequently Asked Questions (FAQ) :

North America will account for approximately 60% market share by 2024 with presence of major RV manufacturers, distributors, and exporters such as Thor Industries, Winnebago Industries, Forest River Inc., and REV Recreation Group.
Towable RVs will witness over 6% CAGR through 2024 impelled by lightweight and sturdy construction.
In 2017, Motorhomes accounted for over 50% of the global recreational vehicle market revenue share owing to higher luxury and convenience.

Buy NowImmediate delivery available

Single User: $5,150 Access to only 1 person; cannot be shared; cannot be printed
Multi User: $7,150 Access for 2 to 5 users only within same department of one company
Enterprise User: $9,150 Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Need a Discount? Get in touch with us for special pricing

Request Discount

Connect with our sales team

Why Global Market Insights, Inc.?

Reliability & accuracy

  • GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.

Quality & trust


  • BBB Rating - Click to Verify

Customer service

  • Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.

Security & compliance

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X