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The European recreational vehicle market is valued at USD 24.1 billion and is expected to reach USD 45.6 billion by 2027, registering a CAGR of over 11.3% during the forecast period (2022-2027).
Due to COVID-19, Brexit, and the economic crisis, the market registered a decline in 2020. RV shipments increased in Europe mainly due to travel restrictions imposed on account of COVID-19, as it restricted the travelers from international travel due to lockdown. However, after the ease in lockdowns, travelers actively started opting for RV-related activities from the last month of Q2 2020, which continued till the end of the year and provided recovery to the market studied.
With the increase in the per capita income, the number of high-net-worth individuals (HNWI) in Europe is also witnessing a continuous increase. In 2020, Europe accounted for about one-fifth of the total number of HNWIs, worldwide. Countries such as the United Kingdom, Germany, Switzerland, Sweden, France, Spain, and Italy accounted for the majority of HNWIs across Europe.
With the increasing per capita income and increase in the number of HNWI, the average spending on recreational activities, such as traveling and camping, is witnessing a consistent increase across Europe.
Moreover, the number of millennials is witnessing an increase in Europe. In 2020, the region accounted for one-fifth of the total number of millennials across the world, and the number is anticipated to increase during the forecast period.
Scope of the Report
The European recreational vehicle market is segmented by type and country.
By type, the market is segmented into towable RVs and motorhomes.
By country, the market is segmented into Germany, United Kingdom, Italy, France, Netherlands, Spain, Norway, and the Rest of Europe.
|Rest of Europe|
Key Market Trends
Growing Recreational Vehicles Rental Services
The market is being driven by rising per capita income and increased interest in leisure and recreational activities. Recreational vehicles (RVs) have long been linked with camping, which has recently experienced a surge due to an increase in the number of millennial tourists. A variety of campsites are accessible around the area, which sees a strong influx of tourists.
On the other hand, leading motorhome manufacturers are broadening their product offerings. In addition, with more rigorous emission standards, the electrification of motorhomes and camper vans is becoming a key trend in the RV business. In recent years, top OEMs and startups have attempted to combine numerous technological improvements into RVs in order to make them more appealing and interesting as opposed to dull same design vehicles.
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Germany is Anticipated to Hold Major Share in the Market
According to the European Caravan Federation, in 2021, around 78,175 new motor caravans were registered, which was 44% more than the previous year. According to the Caravaning Industry Association, the German caravanning industry in 2020 recorded a value of EUR 11.7 billion, which was 3.9% more than the last year.
RVing has become more popular in Germany in recent years than it has ever been. This is reinforced by significant growth in the market for new and used recreational vehicles (motorhomes, camper vans, and caravans), as well as a significant increase in RV rentals.
The demographics of German RV consumers have shifted. Previously, the majority of this low-cost vacationing was done by families with children and seniors. RV trips are becoming increasingly popular among younger generations with greater income levels. Customers demand freedom, independence, and flexibility, as well as comfort, convenience, individualism, and even luxury.
At the same time, campsites across Europe are fast developing. Campgrounds have been updated and now offer a variety of new amenities and features. The services supplied range from updated laundry facilities, Wi-Fi connections, and supermarkets to wellness centers, pools, and spas, as well as access to water parks, go-kart tracks, and other sporting facilities. Campground vacations resemble a full-service, activity-filled family holiday, competing with resort-style accommodations. Camping has evolved into a luxury holiday, and the idea of the low-cost family trip is disappearing. Money is no longer as important as it once was, and personal well-being is taking center stage. The transition from conventional tents to pricey campers and RVs is a visible indicator.
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The European recreational vehicle market is fragmented due to the presence of many local and global players, such as Thor Industries Inc., Swift Group, and Hymer AG, among others. The market is transforming at a rapid pace, and local companies are facing tough companies from the US RV manufacturers, such as Forest River Inc., Winnebago Industries Inc., and Thor Industries Inc. As a result, companies are incorporating the latest technologies in their latest RV models to provide the best experience to the occupants.
- In August 2021, Hymer GmbH & Co. KG presented its new products for the upcoming 2022 model year from the Hymer Motor Caravans, Eriba Caravans, and Hymer Original Parts divisions.
- In January 2022, Thor Industries introduced an all-electric camper van concept, aiming to make the future of camping adventure emission-free. With its new electric RV, the parent company of Airstream has shown the brand's commitment to the electric vehicle space. The Thor Vision Vehicle concept comes with a best-in-class single-charge range of 300 miles or over 480 kilometers, which is more than double the recently introduced Winnebago EV RV's range of only 125 miles.
- In August 2021, a German manufacturer of caravans, Dethleffs, introduced The E.Home Caravan, a self-powered camping trailer. Dethleffs partnered with ZF to create the E. Home with dual motors and an 80 kWh battery pack as two 40 kWh batteries and two electric motors, each rated at 30 kW of continuous power (45 kW max). The batteries are contained within an inner frame, while an outer frame houses the inverter, charging unit, and control unit.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Towable RVs
5.2 By Country
5.2.2 United Kingdom
5.2.8 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Dethleffs GmbH & Co. KG
6.2.2 Thor Industries Inc.
6.2.3 Swift Group
6.2.4 Autotrail Motorhomes
6.2.5 Rimor Motorhomes
6.2.6 Rapido Motorhomes
6.2.7 Knaus Tabbert GmbH
6.2.9 Globecar Motorhome
6.2.10 Eura Mobil GmbH
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Europe Recreational Vehicle Market market is studied from 2018 - 2027.
What is the growth rate of Europe Recreational Vehicle Market?
The Europe Recreational Vehicle Market is growing at a CAGR of >11.38% over the next 5 years.
What is Europe Recreational Vehicle Market size in 2018?
The Europe Recreational Vehicle Market is valued at 24 Billion USD in 2018.
What is Europe Recreational Vehicle Market size in 2027?
The Europe Recreational Vehicle Market is valued at 46 Billion USD in 2027.
Who are the key players in Europe Recreational Vehicle Market?
Thor Industries Inc., Dethleffs GmbH & Co. KG, Autotrail motorhomes, Swift Group Limited, Knaus Tabbert GmbH are the major companies operating in Europe Recreational Vehicle Market.