Recreational Vehicle Market Statistics 2022 | Industry Growth, Share & Regional Forecast To 2028
The North America recreational vehicle market may project significant growth trends in the forthcoming years owing to the increasing inclination towards travel and outdoor recreational activities, leading to proliferating product demand.
According to the March 2021 data by the RV Industry Association’s survey of manufacturers, the total RV shipments during the first quarter of 2021 reached quite a record-breaking number.
The emerging love for road trips, travel in comfort, and exploring the outdoors are the primary reasons supporting these increasing sales. Besides, the growing popularity of camping for outdoor recreation activities and its positive impacts on physical and mental well-being will foster the RV industry outlook in the coming years.
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The global recreational vehicle market has been experiencing unprecedented growth for quite a while. The primary factors positively influencing the business landscape are the ever-growing interest in travel and road trips, increasing desire to experience an active outdoor lifestyle, and rising inclination towards other recreational activities like camping, sports, etc. Increasing emphasis on travel and tourism and raising awareness about the mental well-being and health benefits associated with being outdoors coupled with the fueling wanderlust among the younger population will boost the adoption of recreational vehicles in the times to come.
Recreational vehicle sales have been on the rise for the past few years due to increasing technological advancements in equipment like powertrains and batteries. The growing adoption of hybrid and electric RVs to meet the strict government mandates regarding fuel efficiency and environmental sustainability are likely to boost the RV market outlook in the years ahead. The global recreational vehicle market size could surpass a valuation of USD 135 billion by 2028.
As per the World Travel and Tourism Council report 2021, the tourism sector is expected to witness promising growth opportunities in both domestic and international markets in 2022 and beyond. The report projected the travel & tourism GDP to ascend by nearly 30% in 2021 and 31% in 2022.
These favorable statistics are mainly driven by the increasing urge to travel outdoors and consistently rising disposable incomes globally, creating a pool of opportunities for the global RV market in the coming years.
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Data Tables
TABLE 1. Industry Glossary
TABLE 2. Recreational vehicles industry 3600 synopsis, 2017 - 2028
TABLE 3. Recreational vehicle market size, 2017 - 2021 (USD Million)
TABLE 4. Recreational vehicle market size, 2022 - 2028 (USD Million)
TABLE 5. Recreational vehicles industry size, 2017 - 2021 (Units)
TABLE 6. Recreational vehicles industry size, 2022 - 2028 (Units)
TABLE 7. Recreational vehicles industry size, by vehicle, 2017 - 2021 (USD Million)
TABLE 8. Recreational vehicles industry size, by vehicle, 2022 - 2028 (USD Million)
TABLE 9. Recreational vehicles industry size, by vehicle, 2017 - 2021 (Units)
TABLE 10. Recreational vehicles industry size, by vehicle, 2022 - 2028 (Units)
TABLE 11. Motorhome recreational vehicle market size, by class, 2017 - 2021 (USD Million)
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