Recreational Vehicle Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Market Overview

In 2024, the recreational vehicle industry is projected to generate revenue of USD 51.3 billion, which is projected to experience a CAGR of 4.2% over the projection period, to attain USD 53.1 billion by the end of the decade. This will be because of the increasing customer

expenditure on eco-tourism, camping, and sustainable travel worldwide.

Eco-friendly travel options are in enormous demand worldwide as they emphasize on protecting natural ecosystems and decreasing the negative impact of travel. Such vehicles also provide a blend of mobility, convenience, comfort, and versatility, and also satisfy the evolving preferences of modern travelers.

It highlights on efficiency, sustainability, and comfort in recreational vehicles with less or no conventional fuel dependency. Electrification of cars, particularly RVs, offers sustainable travel options, which is appealing to consumers with a conscience. The advancements in battery technology enhance the performance and endurance of EV RVs hence attracting more customers. Integration is useful in applying aerodynamics in RVs since it reduces drag force and is useful in designing the RVs. These technologies inform the sector given the dynamic needs of the new generation of tourists.

Status-oriented customers look for vehicles that reflect their aspirations. As a result, RV firms are offering their clients options to choose from different customization options to help them design the RV of their dreams. Producers are buying hi-tech solutions along with high-quality materials to retrofit RVs with comforts and differentiate personal space.

Key Insights

Towable RVs are the higher-revenue-generating category, holding around 50% share in the market.

Increasing usage among campers, families, and adventurers.

The detachability option provides transportation adaptability for daily activities and holidays.

Motorhomes lead the market in growth rate with a CAGR of 4.6% during the forecast period.

Growing consumer inclination toward road trips.

Provides home-like comfort with living spaces, bathrooms, kitchens, bedrooms, and living areas.

Personal bifurcation dominates the market with a share of 70% in 2024.

RVs provide a homelike experience and allow engagement in outdoor activities like hiking, fishing, and camping.

Technological advancements in smart home connections, fuel efficiency, and luxurious interiors.

Appeals to consumers seeking luxury and comfortable travel experiences.

Commercial bifurcation is the faster-growing category with a CAGR of 4.7% during 2024-2030.

The trend of renting RVs and flexible accommodation options.

Convenient for less-regular travel based on trip length, distance, and required amenities.

Remote work and hybrid work models drive the need for RVs with modern facilities such as mobile workstations.

Non-motorized category dominates the market with a share of 75% in 2024.

Flexibility, accessibility, versatility, and affordability.

Low initial cost, simpler setup, and ease of maintenance.

Diverse options like travel trailers, fifth wheels, and truck campers.

The motorized category will witness a higher CAGR of 45% during 2024-2030.

Combined mobility and living spaces for long-distance journeys and full-time living.

Built-in facilities are similar to homes, such as bathrooms, kitchens, living areas, and sleeping quarters.

Appeals to travelers seeking comfort, convenience, and independent travel experiences.

North America is the largest market with a share of 45% in 2024.

Home to a highly competitive RV manufacturing industry.

Key manufacturers include THOR Industries, Winnebago Industries, and Forest River.

Product Code: 12993

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by application
- 1.4.3. Market size breakdown, by propulsion
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Volume, by Type (2019-2030)
6.3. Market Revenue, by Type (2019-2030)
6.4. Market Volume, by Application (2019-2030)
6.5. Market Revenue, by Application (2019-2030)
6.6. Market Volume, by Propulsion (2019-2030)
6.7. Market Revenue, by Propulsion (2019-2030)
6.8. Market Volume, by Region (2019-2030)
6.9. Market Revenue, by Region (2019-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Volume, by Type (2019-2030)
7.3. Market Revenue, by Type (2019-2030)
7.4. Market Volume, by Application (2019-2030)
7.5. Market Revenue, by Application (2019-2030)
7.6. Market Volume, by Propulsion (2019-2030)
7.7. Market Revenue, by Propulsion (2019-2030)
7.8. Market Volume, by Country (2019-2030)
7.9. Market Revenue, by Country (2019-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Volume, by Type (2019-2030)
8.3. Market Revenue, by Type (2019-2030)
8.4. Market Volume, by Application (2019-2030)
8.5. Market Revenue, by Application (2019-2030)
8.6. Market Volume, by Propulsion (2019-2030)
8.7. Market Revenue, by Propulsion (2019-2030)
8.8. Market Volume, by Country (2019-2030)
8.9. Market Revenue, by Country (2019-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Volume, by Type (2019-2030)
9.3. Market Revenue, by Type (2019-2030)
9.4. Market Volume, by Application (2019-2030)
9.5. Market Revenue, by Application (2019-2030)
9.6. Market Volume, by Propulsion (2019-2030)
9.7. Market Revenue, by Propulsion (2019-2030)
9.8. Market Volume, by Country (2019-2030)
9.9. Market Revenue, by Country (2019-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Volume, by Type (2019-2030)
10.3. Market Revenue, by Type (2019-2030)
10.4. Market Volume, by Application (2019-2030)
10.5. Market Revenue, by Application (2019-2030)
10.6. Market Volume, by Propulsion (2019-2030)
10.7. Market Revenue, by Propulsion (2019-2030)
10.8. Market Volume, by Country (2019-2030)
10.9. Market Revenue, by Country (2019-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Volume, by Type (2019-2030)
11.3. Market Revenue, by Type (2019-2030)
11.4. Market Volume, by Application (2019-2030)
11.5. Market Revenue, by Application (2019-2030)
11.6. Market Volume, by Propulsion (2019-2030)
11.7. Market Revenue, by Propulsion (2019-2030)
11.8. Market Volume, by Country (2019-2030)
11.9. Market Revenue, by Country (2019-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Volume, by Type (2019-2030)
12.3. Market Revenue, by Type (2019-2030)
12.4. Market Volume, by Application (2019-2030)
12.5. Market Revenue, by Application (2019-2030)
12.6. Market Volume, by Propulsion (2019-2030)
12.7. Market Revenue, by Propulsion (2019-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Volume, by Type (2019-2030)
13.3. Market Revenue, by Type (2019-2030)
13.4. Market Volume, by Application (2019-2030)
13.5. Market Revenue, by Application (2019-2030)
13.6. Market Volume, by Propulsion (2019-2030)
13.7. Market Revenue, by Propulsion (2019-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Volume, by Type (2019-2030)
14.3. Market Revenue, by Type (2019-2030)
14.4. Market Volume, by Application (2019-2030)
14.5. Market Revenue, by Application (2019-2030)
14.6. Market Volume, by Propulsion (2019-2030)
14.7. Market Revenue, by Propulsion (2019-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Volume, by Type (2019-2030)
15.3. Market Revenue, by Type (2019-2030)
15.4. Market Volume, by Application (2019-2030)
15.5. Market Revenue, by Application (2019-2030)
15.6. Market Volume, by Propulsion (2019-2030)
15.7. Market Revenue, by Propulsion (2019-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Volume, by Type (2019-2030)
16.3. Market Revenue, by Type (2019-2030)
16.4. Market Volume, by Application (2019-2030)
16.5. Market Revenue, by Application (2019-2030)
16.6. Market Volume, by Propulsion (2019-2030)
16.7. Market Revenue, by Propulsion (2019-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Volume, by Type (2019-2030)
17.3. Market Revenue, by Type (2019-2030)
17.4. Market Volume, by Application (2019-2030)
17.5. Market Revenue, by Application (2019-2030)
17.6. Market Volume, by Propulsion (2019-2030)
17.7. Market Revenue, by Propulsion (2019-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Volume, by Type (2019-2030)
18.3. Market Revenue, by Type (2019-2030)
18.4. Market Volume, by Application (2019-2030)
18.5. Market Revenue, by Application (2019-2030)
18.6. Market Volume, by Propulsion (2019-2030)
18.7. Market Revenue, by Propulsion (2019-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Volume, by Type (2019-2030)
19.3. Market Revenue, by Type (2019-2030)
19.4. Market Volume, by Application (2019-2030)
19.5. Market Revenue, by Application (2019-2030)
19.6. Market Volume, by Propulsion (2019-2030)
19.7. Market Revenue, by Propulsion (2019-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Volume, by Type (2019-2030)
20.3. Market Revenue, by Type (2019-2030)
20.4. Market Volume, by Application (2019-2030)
20.5. Market Revenue, by Application (2019-2030)
20.6. Market Volume, by Propulsion (2019-2030)
20.7. Market Revenue, by Propulsion (2019-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Volume, by Type (2019-2030)
21.3. Market Revenue, by Type (2019-2030)
21.4. Market Volume, by Application (2019-2030)
21.5. Market Revenue, by Application (2019-2030)
21.6. Market Volume, by Propulsion (2019-2030)
21.7. Market Revenue, by Propulsion (2019-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Volume, by Type (2019-2030)
22.3. Market Revenue, by Type (2019-2030)
22.4. Market Volume, by Application (2019-2030)
22.5. Market Revenue, by Application (2019-2030)
22.6. Market Volume, by Propulsion (2019-2030)
22.7. Market Revenue, by Propulsion (2019-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Volume, by Type (2019-2030)
23.3. Market Revenue, by Type (2019-2030)
23.4. Market Volume, by Application (2019-2030)
23.5. Market Revenue, by Application (2019-2030)
23.6. Market Volume, by Propulsion (2019-2030)
23.7. Market Revenue, by Propulsion (2019-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Volume, by Type (2019-2030)
24.3. Market Revenue, by Type (2019-2030)
24.4. Market Volume, by Application (2019-2030)
24.5. Market Revenue, by Application (2019-2030)
24.6. Market Volume, by Propulsion (2019-2030)
24.7. Market Revenue, by Propulsion (2019-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Volume, by Type (2019-2030)
25.3. Market Revenue, by Type (2019-2030)
25.4. Market Volume, by Application (2019-2030)
25.5. Market Revenue, by Application (2019-2030)
25.6. Market Volume, by Propulsion (2019-2030)
25.7. Market Revenue, by Propulsion (2019-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Volume, by Type (2019-2030)
26.3. Market Revenue, by Type (2019-2030)
26.4. Market Volume, by Application (2019-2030)
26.5. Market Revenue, by Application (2019-2030)
26.6. Market Volume, by Propulsion (2019-2030)
26.7. Market Revenue, by Propulsion (2019-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Volume, by Type (2019-2030)
27.3. Market Revenue, by Type (2019-2030)
27.4. Market Volume, by Application (2019-2030)
27.5. Market Revenue, by Application (2019-2030)
27.6. Market Volume, by Propulsion (2019-2030)
27.7. Market Revenue, by Propulsion (2019-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Volume, by Type (2019-2030)
28.3. Market Revenue, by Type (2019-2030)
28.4. Market Volume, by Application (2019-2030)
28.5. Market Revenue, by Application (2019-2030)
28.6. Market Volume, by Propulsion (2019-2030)
28.7. Market Revenue, by Propulsion (2019-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Thor Industries Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Winnebago Industries Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Forest River Inc.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Gulf Stream Coach Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. The Swift Group
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Trigano Group
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. REV GROUP
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Hymer GmbH & Co. KG
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. Entegra Coach Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Cruiser RV
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. Pleasure-Way Industries Ltd.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Recreational Vehicle Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)