Recreational Vehicle Market Research Report Information By Product Type (Integrated/Semi-integrated/Aclove motorhomes, Campervans, Vans) Application (Business, Leisure) Forecast 2030

The Global Recreational Vehicle Market size is projected to be worth USD 77,168.66 million by 2030, registering a CAGR of 6.49% during the forecast period (2022–2030).

Recreational Vehicle Market Overview

Recreational vehicles, also known as RVs, are motor vehicles designed for accommodation. They are widely used for camping. RVs include features such as bathroom, kitchen, as well as sleeping facilities.

COVID-19 Impact on the Global Recreational Vehicle Market:

With the continuous spread of the novel coronavirus across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19. The pandemic is tearing apart the automotive sector, day-by-day, the global players in the automotive industry are focusing on the development of preventive measures and new business strategies to address the current as well as the future situation in the global recreational vehicle market.

The growing spread of coronavirus leads to disruption in the markets. Restrictions to shipping and industrial production are affecting multiple supply chains. Distribution of components is the key process in manufacturing industries, which is facing challenges such as staffing of warehouses, a need for direct distribution, and more intelligent and responsive allocation across channels due to the pandemic which led to pressure on supply chains. The impact on the US and Europe from the disruptions will be significant, which will have a huge effect on the world economy and badly disrupt global supply chains hampering the growth of the global recreational vehicle market.

Recreational Vehicle Market Dynamics

Market Key Drivers

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  Growth of tourism sector

  
  


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  Availability of RV rental services

  
  

The trend of renting RVs is continuously increasing among the customers who engage in countryside traveling and camping and travel long distances for various activities such as concerts, festivals, and multi-day events. The healthy global economic growth remains as one of the significant factors that have been fueling the growth of the recreational motor vehicle or trailer rental over the last five years, as the motorized RVs rental industry is highly dependent on the economic conditions of the consumers. Moreover, the growing awareness among the users regarding the availability of RVs on rent has further boosted the demand for RV rental services.

The trend of providing recreational vehicle rental services is currently concentrated only in North America. However, the trend is expected to increase in Europe and Asia-Pacific during the forecast period owing to the expanding reach and presence of various RV rental groups such as independent dealers and private fleet owners. This creates opportunities for the customers to book and rent RVs from the above-mentioned groups, either online or through face-to-face meeting. Thus, the impact of the availability of RV rental services on the global recreational vehicle market is expected to shift from moderate to high over the forecast period.

Market Key Restraints

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  Government regulations related to RVs and issues related to component standardization

  
  

Many government bodies have introduced regulations related to the safety, ventilation, permit and examination requirements, construction, weight, inspection of propane appliances, propane system, width, and electrical installations inside the vehicles. Such regulations regarding RVs are currently hindering the demand for motorized RVs. The lack of standardization in motorized RVs and components, while manufacturing is a major concern for end users. The replacement of damaged or faulty components during servicing and maintenance is difficult due to the lack of standardization among component manufacturers. Thus, the government regulations related to motorized RVs and issues related to component standardization are expected to restrain the growth of the global recreational vehicle market during the forecast period

Market Key Opportunities

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  Strategic developments for growth by major players

  
  

An increasing number of initiatives by government bodies across the world to promote the adoption of RVs market is expected to drive their demand. This is expected to increase the demand for RVs across the world in the next few years. Furthermore, such factors are encouraging investments in product development by private companies in the global recreational vehicles market. The strategic initiatives by major market players are still at a primary stage and are concentrated only in a few regions. However, they are expected to increase during the forecast period. Thus, the strategic developments for growth by major players are expected to create an opportunity for the growth of the global recreational vehicle market during the forecast period.

Recreational Vehicle Market Supply Chain Analysis

In the design & development stage, the dimensions, raw material, type, vehicle specifications, and applications of the RVs are analyzed to design and develop the RVs effectively. In the design stage, the overall layout, components, material type, size, and shape of the motorized RVs are determined according to the application of the RVs, specific end-use requirements, and government regulations. Raw material supply entails the supply of various raw materials, such as wood, steel, fiberglass, aluminum, plastic, rubber, and other materials, which are the inputs required for the manufacture of RVs. Furthermore, various components such as sidewall panels, slide-out panels, roof panels, floor panels, RV doors & hardware, gas springs & door struts, RV molding trim, RV screws, and RV cabinet & drawer hardware are also used for manufacturing motorized RVs. Any variation in the raw material/ component supply side is going to have either a positive or negative impact on the manufacturing process. For instance, an increase in the cost of the raw materials will increase the manufacturing cost, leading to a rise in the cost of the end-product.

Manufacturers either manufacture or assemble to transform the raw materials and components into RVs, 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 end users in the global recreational vehicles market are the individual owners and motorized RVs sharing companies. The selection of RVs by the end user is primarily dependent on their features, brand, aftersales services of motorized RVs, price, and specifications.

Recreational Vehicle Market Segmentation

Insights Based on product type:

Integrated/ Semi-integrated/ Alcove motorhomes, campervans and vans are the segments based on the product type of the Global Recreational Vehicle Market.  The Integrated/ Semi-integrated/ Alcove motorhomes segment is expected to have the highest CAGR and dominate the market share during the forecast period. These motorhomes are large buses that are 20 feet to 45 feet in length and can accommodate up to ten passengers. This type of motorhome run on diesel or gas. These vehicles come with various features such as shower, storage tank, stove, bed, and basin and offer higher towing capacity and a fuel-efficient ride.

Insights Based on application:

Leisure and business are the segments based on the application of the Global Recreational Vehicle Market.  The lesisure is expected to have the highest CAGR and dominate the market share during the forecast period. 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. RVs used for leisure applications are simple in design and offer various features, which are necessary for outdoor recreational activities, inside the vehicle.

Recreational Vehicle Market Regional Analysis

The regions are classified as North America, Europe, Asia-Pacific, Rest of the World. North America holds a significant share of the recreational vehicle market. North America has witnessed an increase in the sale of motorized RVs. The growing US market is expected to lead to the improvement of the recreational vehicle market. The authorities in North America are encouraging the adoption of eco-friendly products, which leads to the popularity of recreational motor vehicle or trailer in the region. Manufacturers such as Thor Industries, Inc., Winnebago Industries, Inc., and Forest River, Inc. are offering RVs 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 recreational vehicle market growth in North America. Investments in the development of new and improved versions of recreational motor vehicle or trailer and the integration of production operations will boost the recreational vehicle market share of the region.

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 RVs specifications offered by OEMs in Europe. Also, manufacturers strategically make investments in the development of RVs to meet the standard specification regarding recreational motor vehicle or trailer. 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 motor vehicle or trailer are expected to boost the share of Europe in the global recreational vehicles market during the forecast period.

RVs Market Competitive Trends and Landscape

The global recreational vehicle market is characterized by the presence of many local, regional, and global vendors. The recreational vehicle market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

List of Key Companies covered in the Recreational Vehicle Market report are:

• Thor Industries (US)


• REV Group (US)


• Winnebago Industries, Inc. (US)


• Trigano Group (France)


• Knaus Tabbert AG (Germany)


• Forest River, Inc. (US)


• NeXus RV (US)


• Tiffin Motorhomes Inc. (US)


• Triple E Recreational Vehicles (Canada)


• Dethleffs GmbH & Co. KG (Germany)


• Bürstner Gmbh & co. KG (UK)


• The Swift Group (UK)


• Fendt Caravan (Germany)


• KABE (Sweden)


• Erwin Hymer Group (Germany)

Recent Developments:

• In January 2020, Renegade RV, a subsidiary of REV Group launched new Villagio model at the 2020 Florida RV Supershow in Tampa, Florida. Villagio is equipped with Mercedes Benz Sprinter chassis that offers comfort and a great driving experience. It features a Blue Tec 3.0L Turbo Diesel engine.


• In January 2020, In-house brand Leisure Travel Vans developed the new Ford Transit Cutaway equipped with a twin-turbocharged 3.5L EcoBoost V6, 310 horsepower, and 400 lb.-ft. of torque, new advanced driver-assist technology, and optional intelligent all-wheel drive.


• In January 2020, REV Group signed a partnership agreement with LiquidSpring Smart Suspension for providing suspension to REV Group. The new recreational motor vehicle or trailer and buses are fitted with LiquidSpring, an innovative high-tech suspension system that reduces body roll and vibration.


• In September 2019, Winnebago Industries, Inc. launched the new wheelchair-ready motorhomes. The motorhomes now feature air-assisted doors for wheelchair lifts. These new products are offered by two new dealers - Stoltzfus RV, and US Adventure RV, as well as existing dealers such as Lazydays RV.


• In March 2019, Thor Industries developed new 2020 Magnitude SV34 Super C motorhome under the brand Thor Motor Coach. This new vehicle is equipped with 4WD option that gives great driving experience and offers comfort and noise free driving in outdoor activities.

Motorized RVs Market Report Overview:

The Global Recreational Vehicle Market is segmented based on product type and application in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments, and company profiles. The insights in this report, comprise, discuss views, and predict the emerging and fast-growing segments, regions, and countries with potential for development in the Global Recreational Vehicle Market.

Segmentation Overview:

Outlook By product type:

• Integrated/Semi-integrated/Aclove motorhomes


• Campervans


• Vans

Outlook By Application:

• Business


• Leisure

Outlook By Regions:

• North America


• Europe


• Asia-Pacific


• Middle East & Africa


• South America

Objectives of the Study

• To get a comprehensive overview of the Global Recreational Vehicle Market.


• To get wide-ranging information about the key factors driving the market and market opportunities (Profitability, Benchmarking, Volume, Value, Macro-Economic Factors, Y-o-Y Growth Analysis)


• To gain information regarding the key players in the industry, technology advancements and key developments


• To gain insights about the key country/region in which the recreational vehicle market is growing (Gross Margin, Sales Footprint, Strategy, Channels, Economic Outlook, Growth Projections)

Intended Audience

• Automobile Companies


• Manufacturing Companies


• Research Institutes


• Academic Institutes


• Government Organizations