Global Recreational Vehicle Market Outlook and Forecast Report 2020-2025 Featuring Prominent Players - Thor Industries, Forest River, Winnebago Industries, REV Group
DUBLIN, Sept. 21, 2020 /PRNewswire/ -- The "Recreational Vehicle Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global recreational vehicle market by revenue is expected to grow at a CAGR of over 7% during the period 2019-2025.
The global recreational vehicle market size to reach $42 billion in 2020 and is projected to grow on account of the increasing demand for camping and outdoor recreational activities in the millennial population, especially in the US. In the US, the number of active camp households increased by 1.4 million in 2018. The growing number of active campers is contributing to the demand for RVs. The commercial usage of RV is on the rise. The rental facilities are boosting the growth of the market. The growth in peer-to-peer rental services is also influencing the popularity among millennials, which are increasingly seeking rental services.
The recreational vehicle market research report includes a detailed segmentation by Product, application, and geography. The towable recreational vehicle market is expected to grow at a CAGR of over 6% during the period 2019-2025. Towable RVs are more prevalent in North America than in Europe. The shipment accounted for 89% of the total shipments in North America in 2019. Travel trailers are the most popular towable segment. Consumers mostly prefer them as they are the most inexpensive. They are cheaper and more straightforward than motorhomes and are also available in a wide range of designs, sizes, and prices.
Motorhomes are available in three varieties - Class A, Class B, and Class C. The Class A segment is one of the most common motorized RVs. It accounted for over 40% of the global motorhome revenue in 2019. Class B motorhomes accounted for over 12% of the worldwide motorhome revenue in 2019, and the segment is witnessing the fastest growth. They are typically more affordable to maintain and have better fuel economy than larger counterparts. The class C segment is expected to reach over $13 billion by 2025. Class C combines the best features of both Class A and B into a more versatile and affordable mid-size motorhome. Class A motorized are expected to continue to dominate in terms of revenue, contributing approx. 50% of the global recreational vehicle market share in 2019.
Private ownership of RV has been dominating the shipments; however, the market scenario is changing rapidly. The commercial usage of RV is growing substantially in rental agencies and businesses. The growth in online rental websites and applications has further eased the process of renting, boosting the demand in the tech-savvy millennial population. North America also dominated the commercial sales in 2019 and is likely to dominate during the forecast period. The US is the largest commercial RV market across the globe, which is primarily dominated by rental agencies.
The RV ownership reached nine million in 2019. The rapid rise in ownership indicates a resurgent interest in the RV lifestyle. With an increasing number of millennials embracing this lifestyle, the demand is expected to further boost during the forecast period. About 38% of the 40 million recreational vehicle owners in the US are millennials. The rise in camping trailers & activities is a major factor driving the growth of the segment.
Low entry barriers characterize the global recreational vehicle market, and it is intensely competitive with the presence of several manufacturers selling products that compete directly through product features. Thor Industries, Forest River, Winnebago Industries, and REV Group are some of the key vendors operating in the market. The competition is based upon price, design, value, quality, insurance coverage, and service. North America constitutes the largest RV market globally, with US brands dominating the global RV industry. Low entry barriers result in numerous existing and potential RV manufacturing competitors.
Prominent Vendors
- Thor Industries
- Forest River
- Winnebago Industries
- REV Group
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Impact Of Covid-19 On RV Industry
8 Market Opportunities & Trends
8.1 Popularity Of RV Rental Services
8.2 Introduction Of Smart & Autonomous Technology
8.3 Lithium Battery & Solar Technology
9 Market Growth Enablers
9.1 Growing Demand For Adventure Camping
9.2 Millennials Influencing RV Market
9.3 High Cost Saving Opportunities
10 Market Restraints
10.1 Low Penetration In Underdeveloped Markets
10.2 Stringent Government Regulations
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast: Revenue & Shipments
11.3 Five Forces Analysis
12 By Product Type
12.1 Market Snapshot & Growth Engine By Revenue
12.2 Market Snapshot & Growth Engine By Volume
12.3 Market Overview
13 Towable RV
13.1 Market Size & Forecast
13.2 Market By Geography
13.3 Travel Trailers
13.4 Fifth Wheel Trailers
13.5 Folding & Pop-Up Trailers
13.6 Sports Utility Trailers/Toy Haulers
14 Motorhomes
14.1 Market Size & Forecast: Revenue & Shipments
14.2 Market By Geography: Revenue & Shipments
14.3 Class A Motorhomes
14.4 Class B Motorhomes
14.5 Class C Motorhomes
15 By End-User
15.1 Market Snapshot & Growth Engine By Volume
15.2 Market Overview
15.3 Commercial
15.4 Private
16 By Geography
16.1 Market Snapshot & Growth Engine By Revenue
16.2 Market Snapshot & Growth Engine By Shipments
16.3 Geographic Overview
Competitive Landscape
- Thor Industries
- Forest River
- Winnebago Industries
- REV Group
Other Prominent Vendors
- Adria Mobil
- Auto-Trail
- Dethleffs
- Gulf Stream Coach
- Knaus Tabbert
- Nexus RV
- Rapido Group
- Rimor
- Tiffin Motorhomes
- Triple E Recreational Vehicles
- Bailey of Bristol
- Auto-sleepers
- Fendt Caravan
- Giottiline
- Oliver Travels
- Phoenix USA RV
- Custom Coach
- Pleasure-way
- Roadtrek
- Adventurer LP Manufacturer
For more information about this report visit https://www.researchandmarkets.com/r/l3u4im
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