Recreational Vehicle (RV) Market, RV Tourism to Reach USD 10 Billion by 2020

Posted on 2018-11-08 by Goldstein Research in Automotive // 0 Comments

New York, USA, 2018-Nov-08 — /EPR Network/ —According to Goldstein Research, global Recreational Vehicle market is expected to reach 850.0 thousand units by 2024. The growing travel and tourism preferable nature-based tourism among the young generation who resist staying in hotels are augmenting the sales and manufacturing of the RVs. Further, the cleaning, maintenance, loading, and unloading is an expensive activity, challenging the growth of the market. Global recreational vehicle market segmentation has been done on the basis of product type, and geography. Leisure recreational vehicles accounted for the largest market share in 2016 on the back of increasing campaign and travel purpose. In the U.S., recreational vehicles for campaigning purpose accounted for generate revenue of USD 1.0 million every year.

Global RV market is largely dominated by North America acquiring 41.2% market share in 2016 on the back of growing travel and tourism. U.S. recreational vehicle market grew by 4.8% in 2016 from 2015. North America is followed by Asia-Pacific region growing at a CAGR of 10.0% over the forecast period on account of the rising young population and spending abilities.

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Market Segmentation

On the basis of our in-depth analysis, Global Recreational Vehicle Market can be segmented as follows:

By Product Type

Motorhomes
Toy Haulers
Fifth Wheels
Destination Trailers
Camping Trailers

By Application

Leisure Activities
Business Activities

By Region

North America
Europe
The Middle East And Africa
Latin America
Asia Pacific

“Global Recreational Vehicle Market Outlook 2024” contains a detailed overview of the global recreational vehicle market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, application and geography.

The Global Recreational Vehicle Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The in-depth analysis of recreational vehicle market report will help the clients to assess their business strategies as per the competitive environment in the market space.

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Major players of the global recreational vehicle market discussed in the report are: Eclipse Recreational vehicles Inc., Gulf Stream Coach Inc., Northwood Manufacturing Inc., Palomino RV, Thor Industries Inc., AL-KO AXIS, Allied Recreation, Aliner and Somerset Folding Camping Trailers, Augusta RV, Coachmen Recreational vehicle Company, Cruiser RV and DNA Enterprises, Fleetwood RV, Forest River, Forks RV, Freightliner Custom Chassis, Grand Design RV, Lifestyle Luxury RV, Little Guy Worldwide, Navistar RV, Newmar, Pleasure-Way Industries, Prime Time Manufacturing and Renegade RV, etc.

Further, Global Recreational Vehicle Market Report encompasses the major trends & growth opportunities, market dynamics and other growth factors. The Recreational Vehicle Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, USP Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides the complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Global recreational market is further bifurcated in various segments with separate market analysis mentioned below:

China Recreational Vehicles Market

China is the largest automotive industry and offer attractive growth opportunities due to economic development and related increases in freight demand. China RV market is in the early phases of development. Chinese consumers purchased an estimated 25,000 RVs by the end of 2017, and this number could reach 400,000 by 2025.

Europe Recreational Vehicles Market

Recreational vehicle market is projected to witness sales off leisure RVs up to 850.0 thousand units by 2025. Further, the Europe recreational vehicles market is projected to expand at a CAGR of 6.4% over the forecast period and the major growth region is likely to be the Western Europe.

Motor Home Market

In other words, a Motorhome is a vehicle designed for recreational use, as in camping. In the United States, more than 355,000 recreational vehicles are sold every year globally, under which motorhomes contributed 58.2% of the total sales in 2016. The recreational vehicle (RV) unit sales are expected to reach 850.0 thousand units by the end of 2024. Globally, motorhomes are becoming popular in nature-based tourism as people prefer traveling through their own private transportation. On the other hand, Asia-Pacific motorhome market is growing steadily with a CAGR of 10.0% owing to increase the interest of young and old generation in motorhomes.

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