Product ID: SQMIG20I2209
Global Recreational Vehicle Market Size, Share, Growth Analysis, By Vehicle Type(Motorhomes, towable.), By Application(Residential, Commercial) - Industry Forecast 2024-2031
Report ID:
SQMIG20I2209 |
Region:
Global |
Published Date: February, 2024
Pages:
240
|
Tables:
61 |
Figures:
75
Global Recreational Vehicle Market Insights
Recreational Vehicle Market size was valued at USD 46912.48 million in 2019 and is poised to grow from USD 49243.43 million in 2023 to USD 77168.66 million by 2031, growing at a CAGR of 6.49% in the forecast period (2024-2031).
Recreational vehicle usually implies to a sporting vehicle-type unit principally planned as impermanent living quarters for sporting, setting up camp, or travel use, which either has its own rationale power or is mounted on or drawn by another vehicle.
The rising tendency toward open air diversion, like setting up camp, sports, and the travel industry exercises, is ready to drive the market development during the gauge time frame.
The developing prominence of an agreeable vehicle for transportation and convenience combined with the rising interest for brief distance travel alongside the wide open areas and alluring contributions from the producers of RVs significantly draws in a few experience searchers in purchasing for leasing the RVs on an end of the week or long travels and occasions.
US Recreational Vehicle Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Recreational Vehicle Market Segmental Analysis
The global recreational vehicle market is segmented based on vehicle type, application and region. Based on the vehicle type, the global recreation vehicle market is segmented as Motorhomes and Towable. Based on the application, the global recreation vehicle market is segmented as residential and commercial. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America and MEA.
Recreational Vehicle Market Analysis by Vehicle Type
On the basis of vehicle type, the market is parted into motorhome and towable RVS. The motorhomes section held a significant offer in 2020. It is expected to be the quickest developing portion before long because of the continuous expanding interest for agreeable travel with better convenience. Besides, the ascent in the quantity of camping areas across the globe shows the developing inclination for sporting travel with RVs. Besides, these kinds of vehicles are widely utilized in North America and Europe, for get-away going as well as for business, going with pets, closely following, and as a favored method of transportation for open air sports and other relaxation exercises.
Recreational Vehicle Market Analysis by Application
As far as application, the recreation vehicle portion of the overall industry is stalled into residential and commercial
The commercial section is supposed to get the quickest development in the market from 2021 to 2028 in light of the fact that business recreational vehicles are getting some momentum because of the developing the travel industry across the globe. Local people and explorers for the most part utilize the RVs for the purpose of setting up camp. Setting up camp has developed as the most common open air sporting action among explorers who pick a minimal living region incorporated with a few other rich offices. This pattern is expected to drive the market development thought about the most fitting approach to setting up camp.
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Global Recreational Vehicle Market Regional Insights
The North American recreation vehicle market is the biggest across the globe. Recreational vehicle is exceptionally famous among Americans, and more than 11% of families own it. North of 1 million families in the United States live in RVs full time. It permits going at 20-60% less expense, which is fundamentally driving the notoriety of RV among twenty to thirty year olds. The sporting vehicle market contributes an in general USD 114 billion to the US economy, utilizing north of 600,000 individuals. As per the RV Industry Association (RVIA) report, there are very 13,000 exclusive and 1,600 public campsites inside the U.S., empowering people to encounter setting up camp exercises with their sporting vehicles Thus, RV is one of the worldwide businesses in the US economy.
In Asia Pacific, the quickly developing the travel industry area, rising discretionary cashflow, and open air sporting exercises are supposed to fuel the item reception. Also, the enlistment of new vehicles is supposed to support the development of novel vehicles. These elements might encourage market advancement.
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Global Recreational Vehicle Market Dynamics
Recreational Vehicle Market Driver
- Rapid mechanical advancements, such as high-capacity batteries and electric powertrains, have fueled demand for electric sporting cars (RVs). The implementation of strict vehicle discharge rules is encouraging buyers to buy electric and half-and-half RVs, confirming market predictions. The business extension is flooded with the amalgamation of moderate innovations, including as driver assistance and accident alleviation frameworks, inside RVs to further expand traveller and bystander security.
Recreational Vehicle Market Restraint
- The high initial purchase price is putting the sporting vehicle market's value to the test. Great parts, which are used to reduce weight in RVs, as well as the customization of internal and outside features, will contribute to the overall vehicle cost. The high protection expenses and street charge related uses of RVs likewise add to the high market cost, restricting the business interest.
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Global Recreational Vehicle Market Competitive Landscape
Vital organizations working in the market devise procurement techniques to extend market reach and upgrade their client base. The recreational vehicle market is strongly aggressive with the presence of a few makers selling items that contend straightforwardly through item includes. Organizations working in the market are taking on consolidation and obtaining techniques combined with associations and joint efforts to expand their piece of the pie.
Top Players in the Global Recreational Vehicle Market
- Thor Industries
- Winnebago Industries
- Forest River
- Jayco
- Tiffin Motorhomes
- REV Recreation Group
- Hymer
- Knaus Tabbert
- Coachmen RV
- Fleetwood RV
- Newmar Corporation
- Airstream
- Gulf Stream Coach
- Dutchmen RV
- Keystone RV
- Roadtrek
- Pleasure-Way
- Leisure Travel Vans
- Renegade RV
- Nexus RV
Recreational Vehicle Market Recent Developments
- In June 2022, Kia announced to launch India-centric electric vehicle in RV body type by 2025 - Kia has uncovered that it will send off its most memorable volume-based electric vehicle explicitly produced for India by the coming years. It will have a RV body style implying that a fair size three-column vehicle similarly as the Carens could be possible. It will be a committed zero-discharge vehicle as it will sit on a skateboard engineering.
- In May 2022, Airxcel, a main fashioner, maker, and wholesaler of the most practically basic items for the specialty HVAC markets and the RV business, reported that it gained Custom Air Products and Services (CAPS), a main producer and provider to the specialty HVAC markets with top tier administration capacities.
Global Recreational Vehicle Key Market Trends
- The rising growth on movement and the travel industry universally is giving worthwhile chances to showcase development. Travel and the travel industry will reinforce the interest for outside setting up camp exercises, supporting the business through 2028. As per the World Tourism Organization, in 2021, the worldwide the travel industry expanded by 4% when contrasted with 2020, in this manner supporting the business development.
Global Recreational Vehicle Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global recreation vehicle market analysis, in 2020, the motorhomes segment led the global recreation vehicle market. The developing number of dynamic campers is adding to the interest for RVs. The business utilization of RV is on the ascent.
They are utilized widely for movement, sporting, and occasional exercises. Expanding number of dynamic campers is supposed to help the item reception. Expanding go exercises lead to taking on viable travel apparatuses, along these lines encouraging business sector advancement. Besides, the rising interest for comfortable travel and convenience is supposed to support the interest for the item.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 46912.48 million |
| Market size value in 2031 | USD 77168.66 million |
| Growth Rate | 6.49% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Recreational Vehicle Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Recreational Vehicle Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Recreational Vehicle Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Recreational Vehicle Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Recreational Vehicle Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Recreational Vehicle Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Recreational Vehicle Market Report Snapshots
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