The global recreational vehicle market is anticipated to grow at a CAGR of around 10.5% during the forecast period 2021 to 2028 and to reach around US$ 121.3 Bn by 2028.
Market Dynamics
Rapidly growing demand for the luxury of big passenger classes and accommodation would fuel the adoption of carriages worldwide. The move from traditional travel packages to road trips fuels competition in the industry for motorized and towable recreational vehicles. Development of GDP and disposable income will also add to business profits. This would increase the purchasing capacity. Progress in technology has led to the introduction of electric RVs, such as advanced batteries and electric motor trains. The introduction of high automotive emissions standards enables customers to shift to hybrid and electric leisure cars, thereby increasing the scale of the market. The integration with motorhomes of advanced technology such as driver support and collision mitigation will increase passenger and pedestrian safety and will increase growth in the market for leisure vehicles. The high initial purchasing costs are one of the key factors restraining business growth. The total costs of the car are significantly influenced by innovating, high-quality components that reduce the weight of recreational vehicles along with the customization of inner and outer functions. The cost of ownership of the leisure vehicle also means that motor homes are subject to large maintenance premiums and other road tax & maintenance premiums. Continuous battery repair and substitution of gas in power plants requires high prices and running expenses, thus threatening the growth of the industry.
In view of the outbreak of COVID-19 the recreational automotive industry is expected to see a sluggish rise. The sluggish growth of the tourism industry and the rising buying power of consumers across the globe can be due to a severe effect. Due to COVID-19 distribution, buyers are willing to live indoors, which has an impact on sales of tourist and recreational vehicles.
Segment Analysis by Region
The sales of recreational vehicles have risen in North America. This is expected that the growing US economy would increase the leisure demand for cars. The North American authorities encourage the adoption of environmentally friendly goods which lead to the popularity of leisure vehicles in the area. Manufacturers including Thor Industries, Inc. and Forest River, Inc. sell increased fuel economy and built recreational vehicles such as mobile homes or caravans. Continuing tourism, along with policy policies, and growing disposable income in the middle class population would promote business development in North America. Investments in the growth and introduction of new and updated models for leisure vehicles and in manufacturing operations would boost the region's share of the market in leisure vehicles. In recent years, Mexico has experienced a steady rise, which the projection period forecasts will continue. The role of manufacturing firms is expected to rise and the demand for productive leisure vehicles is expected to expand the market share for recreational vehicles as a brand.
Europe has aimed economically to reduce pollution by 20 % by 2020. The government agreed to focus the reduction of emissions and to set sustainability criteria for controlling fuel emissions, as transport sector in Europe has grown. The standards of OEMs for recreational vehicles in Europe are likely to be affected. In turn, suppliers actively invest in recreational vehicle production to conform with the Universal Leisure Vehicle Requirements. When discretionary consumption is rising per capita, leisure off-road vehicles are built with advanced technology due to improved automation and device controls. However, Europe is projected to expand its position on the global recreational car market during the forecast period through the participation of key OEMs, stricter government pollution regulation regulations and expanded investments in the production of recreational vehicle.
COVID-19 Impact
Pandemic situation across the globe has disrupted the business flow worldwide. In 2020 every industry vertical in its 2nd, 3rd, 4th quarter has witnessed substantial drop on production and revenue, this was majorly due to lockdown. The restriction on the operations is impacting the production side and also impacting the supply chain of products. The disrupted supply of raw materials and low operational factories efficiency has contributed in the slower growth of the global market. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process at high operational efficiency, better supply chain models, and effective distribution network. These factors to some extent will help the industry vertical to flourish and aid market growth.
Competitive Landscape
The global market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
The global recreational vehicle market is segmented into product type, motorhomes type, and application. The application segment is bifurcated into leisure and business. Among application the business segment is expected to account for significant revenue share in the global market. The players profiled in the report Winnebago Industries, Forest River, Inc., Thor Industries, DRV Luxury Suites, Erwin Hymer, Crossroads RV, Highland Ridge, REV Recreation Group, Airstream, Skyline Corporation, and others.
Market Segmentation
Recreational Vehicle Market By Product Type
Fifth Wheel Campers
Folding Camping
Truck Campers
Travel Trailers
By Motorhomes Type
Class A Motorhomes
Class B Motorhomes
Class C Motorhomes
Recreational Vehicle Market By Application
Leisure
Business
Recreational Vehicle Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
CHAPTER 1.Industry Overview of Recreational Vehicle
1.1.Definition and Scope
1.1.1.Definition of Recreational Vehicle
1.1.2.Market Segmentation
1.1.3.Years Considered for the Study
1.1.4.Assumptions and Acronyms Used
1.1.4.1.Market Assumptions and Market Forecast
1.1.4.2.Acronyms Used in Global Recreational Vehicle Market
1.2.Summary
1.2.1.Executive Summary
1.2.2.Recreational Vehicle Market By Product Type
1.2.3.Recreational Vehicle Market By Motorhomes Type
1.2.4.Recreational Vehicle Market By Application
1.2.5.Recreational Vehicle Market by Regions
CHAPTER 2.Research Approach
2.1.Methodology
2.1.1.Research Programs
2.1.2.Market Size Estimation
2.1.3.Market Breakdown and Data Triangulation
2.2.Data Source
2.2.1.Secondary Sources
2.2.2.Primary Sources
CHAPTER 3.Market Dynamics And Competition Analysis
3.1.Market Drivers
3.1.1.Driver 1
3.1.2.Driver 2
3.2.Restraints and Challenges
3.2.1.Restrain 1
3.2.2.Restrain 2
3.3.Growth Opportunities
3.3.1.Opportunity 1
3.3.2.Opportunity 2
3.4.Porter’s Five Forces Analysis
3.4.1.Bargaining Power of Suppliers
3.4.2.Bargaining Power of Buyers
3.4.3.Threat of Substitute
3.4.4.Threat of New Entrants
3.4.5.Degree of Competition
3.5.Market Concentration Ratio and Market Maturity Analysis of Recreational Vehicle Market
3.5.1.Go To Market Strategy
3.5.1.1.Introduction
3.5.1.2.Growth
3.5.1.3.Maturity
3.5.1.4.Saturation
3.5.1.5.Possible Development
3.6.Technological Roadmap for Recreational Vehicle Market
3.7.Value Chain Analysis
3.7.1.List of Key Manufacturers
3.7.2.List of Customers
3.7.3.Level of Integration
3.8.Cost Structure Analysis
3.8.1.Price Trend of Key Raw Materials
3.8.2.Raw Material Suppliers
3.8.3.Proportion of Manufacturing Cost Structure
3.8.3.1.Raw Material
3.8.3.2.Labor Cost
3.8.3.3.Manufacturing Expense
3.9.Regulatory Compliance
3.10.Competitive Landscape, 2020
3.10.1.Player Positioning Analysis
3.10.2.Key Strategies Adopted By Leading Players
CHAPTER 4.Manufacturing Plant Analysis
4.1.Manufacturing Plant Location and Establish Date of Major Manufacturers in 2020
4.2.R&D Status and Application Source of Recreational Vehicle Major Manufacturers in 2020
CHAPTER 5.Recreational Vehicle Market By Product Type
5.1.Introduction
5.2.Recreational Vehicle Revenue By Product Type
5.2.1.Recreational Vehicle Revenue (US$ Mn) and Forecast, By Product Type, 2017-2028
5.2.2.Fifth Wheel Campers
5.2.2.1.Fifth Wheel Campers Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
5.2.3.Folding Camping
5.2.3.1.Folding Camping Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
5.2.4.Truck Campers
5.2.4.1.Truck Campers Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
5.2.5.Travel Trailers
5.2.5.1.Travel Trailers Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
CHAPTER 6.Recreational Vehicle Market Revenue By Motorhomes Type
6.1.Introduction
6.2.Recreational Vehicle Revenue (US$ Mn) By Motorhomes Type
6.2.1.Recreational Vehicle Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
6.2.2.Class A Motorhomes
6.2.2.1.Class A Motorhomes Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
6.2.3.Class B Motorhomes
6.2.3.1.Class B Motorhomes Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
6.2.4.Class C Motorhomes
6.2.4.1.Class C Motorhomes Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
CHAPTER 7.Recreational Vehicle Market By Application
7.1.Introduction
7.2.Recreational Vehicle Revenue (US$ Mn) By Application
7.2.1.Recreational Vehicle Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
7.2.2.Leisure
7.2.2.1.Leisure Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
7.2.3.Business
7.2.3.1.Business Market Revenue (US$ Mn) and Growth Rate (%), 2017-2028
CHAPTER 8.North America Recreational Vehicle Market By Country
8.1.North America Recreational Vehicle Overview
8.2.U.S.
8.2.1.U.S. Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
8.2.2.U.S. Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
8.2.3.U.S. Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
8.3.Canada
8.3.1.Canada Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
8.3.2.Canada Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
8.3.3.Canada Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
8.4.North America PEST Analysis
CHAPTER 9.Europe Recreational Vehicle Market By Country
9.1.Europe Recreational Vehicle Market Overview
9.2.U.K.
9.2.1.U.K. Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
9.2.2.U.K. Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
9.2.3.U.K. Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
9.3.Germany
9.3.1.Germany Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
9.3.2.Germany Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
9.3.3.Germany Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
9.4.France
9.4.1.France Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
9.4.2.France Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
9.4.3.France Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
9.5.Spain
9.5.1.Spain Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
9.5.2.Spain Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
9.5.3.Spain Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
9.6.Rest of Europe
9.6.1.Rest of Europe Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017-2028
9.6.2.Rest of Europe Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017-2028
9.6.3.Rest of Europe Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017-2028
9.7.Europe PEST Analysis
CHAPTER 10.Asia Pacific Recreational Vehicle Market By Country
10.1.Asia Pacific Recreational Vehicle Market Overview
10.2.China
10.2.1.China Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
10.2.2.China Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
10.2.3.China Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
10.3.Japan
10.3.1.Japan Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
10.3.2.Japan Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
10.3.3.Japan Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
10.4.India
10.4.1.India Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
10.4.2.India Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
10.4.3.India Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
10.5.Australia
10.5.1.Australia Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
10.5.2.Australia Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
10.5.3.Australia Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
10.6.South Korea
10.6.1.South Korea Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
10.6.2.South Korea Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
10.6.3.South Korea Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
10.7.Rest of Asia-Pacific
10.7.1.Rest of Asia-Pacific Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
10.7.2.Rest of Asia-Pacific Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
10.7.3.Rest of Asia-Pacific Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
10.8.Asia Pacific PEST Analysis
CHAPTER 11.Latin America Recreational Vehicle Market By Country
11.1.Latin America Recreational Vehicle Market Overview
11.2.Brazil
11.2.1.Brazil Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
11.2.2.Brazil Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
11.2.3.Brazil Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
11.3.Mexico
11.3.1.Mexico Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
11.3.2.Mexico Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
11.3.3.Mexico Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
11.4.Rest of Latin America
11.4.1.Rest of Latin America Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
11.4.2.Rest of Latin America Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2016 – 2027
11.4.3.Rest of Latin America Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
CHAPTER 12.Middle East & Africa Recreational Vehicle Market By Country
12.1.Middle East & Africa Recreational Vehicle Market Overview
12.2.Saudi Arabia
12.2.1.Saudi Arabia Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
12.2.2.Saudi Arabia Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
12.2.3.Saudi Arabia Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
12.3.UAE
12.3.1.UAE Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
12.3.2.UAE Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
12.3.3.UAE Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
12.4.Rest of Middle East & Africa
12.4.1.Rest of Middle East & Africa Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Product Type, 2017 - 2028
12.4.2.Rest of Middle East & Africa Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Motorhomes Type, 2017 - 2028
12.4.3.Rest of Middle East & Africa Recreational Vehicle Market Revenue (US$ Mn) and Forecast By Application, 2017 - 2028
CHAPTER 13.Player Analysis Of Recreational Vehicle
13.1.Recreational Vehicle Market Company Share Analysis
13.2.Competition Matrix
13.2.1.Competitive Benchmarking of key players by price, presence, market share, and R&D investment
13.2.2.New Product Launches and Product Enhancements
13.2.3.Mergers And Acquisition In Global Recreational Vehicle Market
13.2.4.Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 14.COMPANY PROFILE
14.1.Winnebago Industries
14.1.1.Company Snapshot
14.1.2.Business Overview
14.1.3.Financial Overview
14.1.3.1.Revenue (US$ Mn), 2020
14.1.3.2.Winnebago Industries 2020 Recreational Vehicle Business Regional Distribution
14.1.4.Product/ Service and Specification
14.1.5.Recent Developments & Business Strategy
14.1.6.Manufacturing Plant Footprint Analysis
14.2.Forest River, Inc.
14.3.Thor Industries
14.4.DRV Luxury Suites
14.5.Erwin Hymer
14.6.Crossroads RV
14.7.Highland Ridge
14.8.REV Recreation Group
14.9.Airstream
14.10.Skyline Corporation
14.11.Others
