Market Overview, Global Recreational Vehicle Market in terms of value is estimated to register 8.60% CAGR during the forecast period. , The Global Market for Recreational Vehicles is expected to witness rapid growth during the projected timeframe. Recreational vehicles, for its owners, are mobile hotels on wheels, which represent an inexpensive way to tour long distances without unpacking and repacking bags at every stop. The rise in the adoption of recreational vehicles is associated with the purchase of pop-up campers that can be easily towed. They save up to 78% of costs during a vacation. The ample space availability creates a provision for the occupants to sleep and the conversion of bed into a dining room. Travelers of all ages have been embracing recreational vehicles as the most affordable way to soak in the continent’s best sights while relishing the comforts of home during a vacation., Industry players either manufacture or assemble to transform the raw materials and components into recreational vehicles, which get delivered to the end-users. Manufacturers initiate the process by designing the solutions, based on the requirements of the process. At this stage, manufacturers often work in close coordination with the clients to ensure their requirements and working conditions are met. This stage is crucial, where most of the time, the product is custom made and is impacted by the specific need of the client in terms of size, specifications, and the materials being used. The specifications are communicated to the raw material and component suppliers, who in turn, make the required materials and components available to recreational vehicle manufacturers., Segmentation, The Global Recreational Vehicle Market has been segmented based on Product Type and Application. Based on Product Type, the global recreational vehicles market is divided into fifth-wheel campers, folding camping, truck campers, travel trailers, class A motorhomes, class B motorhomes, and class C motorhomes. The travel trailer segment is expected to dominate the recreational vehicle market due to an increase in demand for enhanced features in recreational vehicles and a rise in the need for comfort and convenience while tr

Market Overview

Global Recreational Vehicle Market in terms of value is estimated to register 8.60% CAGR during the forecast period.

The Global Market for Recreational Vehicles is expected to witness rapid growth during the projected timeframe. Recreational vehicles, for its owners, are mobile hotels on wheels, which represent an inexpensive way to tour long distances without unpacking and repacking bags at every stop. The rise in the adoption of recreational vehicles is associated with the purchase of pop-up campers that can be easily towed. They save up to 78% of costs during a vacation. The ample space availability creates a provision for the occupants to sleep and the conversion of bed into a dining room. Travelers of all ages have been embracing recreational vehicles as the most affordable way to soak in the continent’s best sights while relishing the comforts of home during a vacation.

Industry players either manufacture or assemble to transform the raw materials and components into recreational vehicles, which get delivered to the end-users. Manufacturers initiate the process by designing the solutions, based on the requirements of the process. At this stage, manufacturers often work in close coordination with the clients to ensure their requirements and working conditions are met. This stage is crucial, where most of the time, the product is custom made and is impacted by the specific need of the client in terms of size, specifications, and the materials being used. The specifications are communicated to the raw material and component suppliers, who in turn, make the required materials and components available to recreational vehicle manufacturers.

Segmentation

The Global Recreational Vehicle Market has been segmented based on Product Type and Application. Based on Product Type, the global recreational vehicles market is divided into fifth-wheel campers, folding camping, truck campers, travel trailers, class A motorhomes, class B motorhomes, and class C motorhomes. The travel trailer segment is expected to dominate the recreational vehicle market due to an increase in demand for enhanced features in recreational vehicles and a rise in the need for comfort and convenience while traveling long distances. The fifth-wheel campers feature a separated motorized vehicle and attached hitch system for towing. In terms of height, fifth-wheel campers range between 25 and 40 feet and can be installed permanently on a campsite as a seasonal residence. The front of the fifth wheel camper consists of a master bedroom and slide-out options, which makes the interior spacious. Several models of these campers have elegant and spacious installations. The increase in demand for outdoor activities and an increase in comfort and convenience in recreational vehicles are expected to increase the demand for fifth-wheel campers during the forecast period.

Based on Application, the Global Recreational Vehicle Market is bifurcated into leisure and business. The leisure segment is expected to dominate the global recreational vehicles market owing to the growing popularity of recreational activities and an increase in demand for luxury travel vehicles. Leisure riding refers to the occasional trip, which a group of people heads out to enjoy at a recreation park and at a mountain range. Recreational vehicles used for leisure applications are simple in design and offer various features, which are necessary for outdoor recreational activities, inside the vehicle. Many major recreational vehicle manufacturers are working on developing new products that are mainly used in leisure activities.

Regional Analysis

By Region, the Global Recreational Vehicle Market is segmented into North America, Europe, Asia-Pacific and Rest of the World

Global Recreational Vehicle Market, by Region, 2018

Source: MRFR Analysis

North America has witnessed an increase in the sale of recreational vehicles. The growing US market is expected to lead to the improvement of the recreational vehicles market. The authorities in North America are encouraging the adoption of eco-friendly products, which leads to the popularity of recreational vehicles in the region. Manufacturers such as Thor Industries, Inc., Winnebago Industries, Inc., and Forest River, Inc. are offering recreational vehicles such as motorhomes and caravans with improved fuel efficiency and improved designs. Growing tourism and rising disposable income among the middle-class population, coupled with government policies, will support the market growth in North America. Investments in the development of new and improved versions of recreational vehicles and the integration of production operations will boost the market share of the region for recreational vehicles. Mexico has been witnessing a steady growth in the past years, which is estimated to be retained during the forecast period. An increase in the presence of manufacturing companies and a growth in demand for efficient recreational vehicles in the market are expected to raise the market share for recreational vehicles in terms of value.

Europe has strategically planned on achieving a reduction of 20% in emissions by 2020. With the growth in the transport sector in Europe, the government agreed to target an emission reduction and set sustainability criteria to control fuel emission. This is expected to impact the recreational vehicle specifications offered by OEMs in Europe. Also, manufacturers strategically make investments in the development of recreational vehicles to meet the standard specification regarding recreational vehicles. With an increase in per capita expenditure on luxury, recreational off-highway vehicles are becoming integrated with intelligent technologies due to a rise in automation and computerized controls. Moreover, the presence of key automotive OEMs, stringent government norms regarding emission control, and increased investment in the development of recreational vehicles are expected to boost the share of Europe in the global recreational vehicles market during the forecast period.

Synopsis

The Global Market for Recreational Vehicles has been segmented on the basis of Product Type, Application, and Region. The global recreational vehicle market is highly competitive, with key industry players adopting various strategies, such as product development, partnerships, acquisitions, to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, enhancing their production capabilities, and building and maintaining strong partner relations.

Key Competitors

The Key Players of the Global Recreational Vehicles Market are Thor Industries, Inc., Forest River, Inc., REV Group, Inc., Winnebago Industries, Inc., NeXus RV, Dethleffs GmbH & Co. KG, Bürstner Gmbh & co. Kg, and The Swift Group.

Market Segmentation



By Product Type – Fifth Wheel Campers, Folding Camping, Truck Campers, Travel Trailers, Class A Motorhomes, Class B Motorhomes, And Class C Motorhomes.





By Application – Leisure, Business



Key Questions Addressed by the Report



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