U.S. Recreational Vehicle (RV) Awnings Market Profit Margin Study, Vendor Landscape & Strategic Initiative

Felton, Calif., USA, Mar. 15, 2021 — /EPR Network/ —

The U.S. Recreational Vehicle (RV) Awnings Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The U.S. recreational vehicle awnings market size is estimated to attain USD 1.7 billion by 2025 and is projected to grow at a CAGR of 4.2% from 2018 to 2025, according to the new report by Million Insights. Increasing demand for recreational vehicle (RV) awnings owing to its benefits such as weather protection and greater versatility is expected to be a key factor fostering growth of the market.

Key Players:

• Carefree of Colorado
• Lippert Components, Inc.
• Dometic Group AB (PUBL)
• Duncan Systems, Inc.
• Girard RV Awnings – Girard Systems Inc.
• Shade Pro Inc.
• Stone Vos LLC
• Fiamma
• RV Awnings Online

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/us-recreational-vehicle-rv-awnings-market/request-sample

Growth Drivers:

Growing consumer affinity regarding electrical awnings is projected to support the market growth. Further, various benefits associated with electric awnings which include expansion time, decreased retraction and better ability to mount fans, LED lights and speakers. These factors are anticipated to bolster the product demand. In case of buying vehicle, awnings consumer look for advanced technology functioned product, which in turn is expected to boost market growth.

Growing consumer inclinations towards recreational outdoor activities such as camping is propelling the demand for the product. In addition, the technological innovations with expansion and retraction approach and installation of the product is projected to boost the market growth.

Further, strong OEMs network in supply chain and awnings customization is expected to support the growth of the product. The installation of products such as LED lights, fans and speakers enhances the functionality of the vehicle awning.

There are a large number of local & international players operating in the market. Thus, the electric awnings prices are expected to fall owing to rising competition between companies. Reduced product differentiation is also projected to lower down the price of the product.

The market is comprised of OEMs, local repairing centers and awning manufacturers. Localized repair operators provide aftermarket accessories and components related to the product. Moreover, increasing fabric sales are anticipated to bolster the market growth.The manufacturers in the market operate through various dealers. These dealers sell the products to OEMs or top manufacturers and directly to customers.

Product Outlook:

• Electric
• Manual

Based on the product, the U.S. RV awnings market is segmented into an electric and manual variant. Manual awnings are projected to grow at the CAGR of around 3.2% over the forecasted period, mainly owing to its low costs. However, the availability of substitute product along with electric operation is expected to hamper the market growth. Electric awnings are anticipated to have substantial growth in the next few years, due to its high reliability and durability. Automated systems are growing in demand along with enhanced retraction mechanism for the product.

Furthermore, growing number of recreational vehicle grounds and parks are expected to influence consumers to look for RV. Additionally, increasing demand for medium and high priced RV along with rising consumer spending is projected to positively impact market growth.

Development in manual and electric awnings owing technology advancement is expected to support the market growth. Moreover, product customization in RV awnings is anticipated to propel the need for the product in the next few years.

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