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Recreational Vehicle Market Size By Vehicle (Motorhomes [By Class, [By Fuel {Gasoline, Diesel}], Caravans [By Type { Conventional Caravans, Tent Trailer, Pop-Top, Pop-Out, Camper Trailer, Fifth Wheeler}]) By Price, End-use & Forecast, 2023 - 2032

  • Report ID: GMI2967
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Recreational Vehicle Market size surpassed USD 60 billion in 2022 and is projected to register 4% CAGR from 2023 to 2032, driven by the increasing number of RV campsites and parks.

Recreational Vehicle Market

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Growing funding from the private sector and government in highway development projects in North America will further shape the industry landscape. In September 2022, the U.S. Department of Transportation announced that the government has invested USD 1.5 billion in multimodal freight and highway projects to make the country’s transportation system resilient.

High purchase and maintenance expenses of RVs

The recreational vehicle market is fuel-intensive and high fuel prices may impede the demand for these vehicles. The use of innovative and high-quality materials for the customization of interior and exterior functionalities and vehicle weight reduction add to the overall cost of an RV. Additionally, the high initial cost and additional expenses like insurance present major challenges to product adoption. The road taxes levied on RVs and storage costs also affect the industry growth.

Fuel-efficiency of pop-top caravans to foster vehicle segment growth

Global Recreational Vehicle Market Revenue Share By Vehicle

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The industry size from the pop-top caravan type was worth USD 2 billion in 2022, owing to its compactness which makes it easily towable with a small car. In addition, it can be easily maneuvered on narrow roads. These caravans are fuel-efficient and stable due to their low cost and short roof height, also because of their low height, they can be stored under a carport or a garage. They are also compatible with most kinds of towing vehicles.

High demand for caravan amongst millennials to propel B2B/fleet owner RV sector

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of recreational vehicle crossed a valuation of USD 60 billion in 2022 and is anticipated to grow at 4% CAGR during 2023 to 2032.

The North America market amassed USD 25 billion in 2022, on account of high consumer spending and new EV concepts in the region.

The recreational vehicle industry from the pop-top caravan segment accounted for USD 2 billion in 2022 due to its compact size, fuel efficiency and high stability.

Some of the major recreational vehicle suppliers include names such as Adria Mobil, Barefoot Caravan, Airstream, Inc., Buccaneer Caravans, Bailey of Bristol, and Coachman Caravan Company.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 808
  • Countries covered: 24
  • Pages: 380
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