The global recreational vehicles market is expected to reach US$ 72.50 Bn by 2030, registering a steady resurgent growth of 5.9% during the forecast period from 2023 to 2030.

"North America to remain largest Recreational Vehicle market by 2030"

In 2020, North America led the recreational vehicle market worldwide in terms of both value and units shipped. The region alone accounts for almost half of the global recreational vehicle sales and is presumed to retain its supremacy through the forecast period, exhibiting resurgent growth post-economic recovery. The region is domicile to large number of established manufacturers, exporters, and has huge base of population aging between 55 and 60 years that represent major end-users of recreational vehicles. Over 80 percent of the total recreational vehicles produced in the U.S. are manufactured in Indiana, with the majority in Elkhart County. Over 9 Mn households in the U.S. own at least one recreational vehicle. In addition, regulated demand for RVs with state-of-the-art accessories and home-like amenities among wealthy sections of society will keep market demand afloat in North America. On the other hand, Asia Pacific is foreseen to register superior growth during the forecast period. Australia and China are the two major recreational vehicle markets in Asia Pacific.  The anticipated growth will be influenced by increasing discretionary income, rising consumer interest in recreational vehicle camping, and initiatives taken by the governments in several countries to develop tourism.

"Travel Trailers to Dominate Throughout the Forecast Period"

Currently, travel trailers are the most preferred recreational vehicle variants among end-users. The value contribution of travel trailers stood at over 55% of the global recreational vehicle market value in 2020. The dominance of travel trailers is a result of convenience offered by them in towing and their use in wide range of recreational activities. On the other hand, motor homes, relatively expensive than towing variants are registering resurgent growth after witnessing decline during economic recession. The growth can be largely credited to an increase in the baby boomer demographic in developed countries that are likely to buy a motor home, on the back of increased leisure time. In addition, preference for elegant interiors and home-like amenities during recreational activities will drive demand for motor homes during the forecast period from 2023 to 2030.

Key Players:

Some of the leading manufacturers profiled in the research study include Thor Industries Inc., Winnebago Industries Inc., Kropf Industries, Forest River Inc., Crossroads RV, Fleetwood Corporation, GMC Motorhome, REV Group Inc, Skyline Corporation, Triple E Recreational Vehicles, Nexus RV LLC, Tiffin Motorhomes, Inc., and Dethleffs Motorhomes among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Recreational Vehicles market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Recreational Vehicles market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Recreational Vehicles market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Recreational Vehicles market?
• Which is the largest regional market for Recreational Vehicles market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Recreational Vehicles market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Recreational Vehicles market worldwide?