Recreational Vehicle Market Size 2021-2027 Industry Growth & Business Statistics Report
Category: #business  By Ronak Bora  Date: 2021-08-05
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Recreational Vehicle Market Size 2021-2027 Industry Growth & Business Statistics Report

Recreational vehicle market size is expected to surpass USD 125 billion by 2027; driven by an increase in collaborative steps by various organizations across the globe. For instance, in July 2020, NASA (National Aeronautics and Space Administration) entered into a collaboration with JAXA for the purpose of manufacturing a recreational vehicle for astronauts who would be travelling to the moon in 2024. Planned to be a six-wheeled vehicle, the RV would enable astronauts to live and work inside while journeying to the moon.

The rising deployment of gasoline vehicles due to their low prices as compared to electric and diesel vehicles will escalate the demand for gasoline motorhome vehicles over the coming years. These recreational vehicles are also popular as they require low maintenance of engine parts as compared to their diesel counterparts.

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Recent trends in the global recreational vehicle market are characterized by an increase in the integration of advanced technologies comprising automated control systems, sensors, and IoT into these vehicles. The industry growth is impelled by an increase in the demand for gasoline recreational vehicles on account of greater combustibility and higher RPM advantages.

Prominent players in the global recreational vehicle market comprise Kropf Industries, Airstream, Pleasure-Way Industries, Erwin Hymer, Highland Ridge, Grand Design RV, Crossroads RV, Thor Industries, Fleetwood Corporation, DRV Luxury Suites, Keystone RV, Skyline Corporation, Cruiser RV, GMC Motorhome, and Dutchmen RV.

As per recreational vehicle market data, these industry participants are focusing on numerous expansion strategies for enhancing their geographical footprint and increasing product penetration. Considering an instance, in August 2020, Forest River announced its plan for the expansion of its business operations in DeKalb and LaGrange counties by investing a sum of USD 3.5 million. The move is set to help the company in expanding the production of its XLR Toy Hauler.

However, the recreational vehicle industry has been recorded to face numerous challenges through the first half of 2020 due to the increasing spread of the SARS-CoV-2 pandemic. Governments across the globe have been imposing numerous restrictions on domestic and international trade, leading to a decline in the sales of recreational vehicles in the industry. Even then, increasing efforts for economic revival and a surge in leniency in lockdown restrictions are expected to augment the expansion of the recreational vehicle industry through the forthcoming years.

On the whole, rising product adoption in the regions of North America and Europe owing to the presence of numerous industry players is expected to escalate recreational vehicle market size over the projected span.

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Partial Chapter of the Table of Content

Chapter 4   Competitive Landscape

4.1    Introduction

4.2    Recreational vehicle market share, 2020

4.3    Top players analysis

4.4    Competitive analysis, 2020

Charts & Figures

FIG. 1    Industry segmentation

FIG. 2    Recreational vehicle market size, 2016 – 2027 (USD Million)

FIG. 3    Recreational vehicles market size, 2016 – 2027 (Units)

FIG. 4    Industry ecosystem analysis

FIG. 5    Growth potential analysis

FIG. 6    Porter’s analysis

FIG. 7    PESTEL analysis

FIG. 8    SWOT Analysis, Airstream Inc.

FIG. 9    SWOT Analysis, Bison RV

FIG. 10    SWOT Analysis, Columbia Northwest/ Aliner Inc.

FIG. 11    SWOT Analysis, Crossroads RV

FIG. 12    SWOT Analysis, Cruiser RV

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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