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The Motor Home Market is segmented by Type (Class A, Class B, and Class C), End-user (Fleet Owners, Direct Buyers, and Other End Users), and Geography.
2018 - 2026
Fastest Growing Market:
The motorhome market is was valued at USD 9.35 billion in 2020 and is anticipated to reach USD 12.26 billion by 2026, at a CAGR of more than 4.5% during the forecast period, 2021 - 2026.
The outbreak of COVID-19 and the subsequent shutdowns have affected the motorhome market in several countries. The negative impacts of the pandemic are visible in the sales figure of the first few months of 2020 in the major market. However, from June onwards the motorhome market started gaining its momentum as campers started opting for safer motorhome vacation, the growth is expected to continue in the coming years.
Recreational vehicles are designed for temporary living quarters for camping, recreational, travel, or seasonal use, and classified into two main types, such as motorhomes and towable.
Motorhomes are not only used for vacation activities but are also widely used across various activities like the festival, concerts, and multi-day events. Motorhomes have the added advantage of reducing vacation costs by an average of 55% over other conventional vacation activities. The aforementioned benefits have been driving an increasing demand for motorhomes in the market over the past few years, and this is likely to continue during the forecast period.
North America captured a major share of the global motorhome market in 2020, owing to the increasing number of households owning motorhomes (a majority-owned by millennials) and the growing demand for motorhome rentals.
A motorhome is a large motor vehicle that is designed to be lived in while traveling. It comes with all the basic amenities like cooking equipment, one or more beds, and sometimes a toilet.
The global motorhome market has been segmented by type, end-user, and Geography. The type includes class A, class B, and class C types. The end-user segment includes fleet owners and direct buyers. The report provides the market size and forecasts for all the major geographies. The profiles of major players in the market are also covered along with their market shares. The market size and forecast are provided by value (USD billion).
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Class C motorhomes are mid-sized RVs that are not built upon existing truck bodies and van chassis. These RVs provide better fuel efficiency than the type A or B motorhomes. Their size varies from 20 ft to 33 ft.
Being built upon existing bodies, these RVs do not cost much and are preferred by families that are on a budget. They are often referred to as mini-motorhomes, which provide the amenities of a larger motorhome in a scaled-down version and at a lower price. The price of these motorhomes start from approximately USD 40,000 and goes up to USD 200,000.
The type C motorhome is built on an automotive manufactured van frame with an attached cab section. They are built on a more powerful chassis than a type B motorhome, and thereby, provide more amenities. The shape of Type C is akin to a van cab with an attached camper, unlike that of class A's ‘bus-like’ shape.
Most of the manufacturers are looking to roll out various advancements in their class C versions. These RV manufacturers are increasing their class C models, making it bulky by shifting out from the van chassis and opting for a large Ford, Chevy, and other heavy-duty vehicle chassis. Most of these larger versions are also diesel-powered, making them apt to pull a heavier load while being more fuel-efficient, compared to gasoline engines.
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North America captured a major share of more than 50% of the global motorhome market in 2020, owing to the increasing number of households owning motorhomes (a majority-owned by millennials) and the growing demand for a motorhome rental.
The United States is the manufacturing hub of RVs worldwide. According to a study commissioned by the Recreation Vehicle Industry Association, the United States ownership of RVs is increasing at a fast pace.
According to the RVIA December 2020 survey of manufacturers, total RV shipments finished the month with 40,382 units, which is an increase of 46.8% from the 27,516 units shipped in December 2019. in which the total Motorhomes finished the December month with 3,878 units, that is up from 35.3% compared to the December 2019 total of 2,867 units in the United States.
Motorhomes are being widely used in the country, not only for vacation traveling, but also for tailgating, traveling with pets, for business, and as a preferred mode of transportation in outdoor sports and other leisure activities. The increase in the number of campgrounds in the country illustrates the increasing preference for recreational travel with motorhomes.
The increase in the adoption rate of motorhomes by the younger generation, advent of motorhomes with technological improvements, and a healthy economy are expected to significantly contribute to the growth of the market during the forecast period. Additionally, sellers are providing lucrative deals and benefits not just on new motorhome models, but also on pre-owned units, along with easy financing facilities for qualified borrowers.
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Some of the major players in the motorhome market are Thor Industries, Inc., Winnebago Industries, Inc., and Forest River, Inc. The competition among the manufacturers has been increasing over the past few years, owing to the growing demand for fuel-efficient vehicles.
Major players are trying to consolidate their sales by cutting down the costs, while smaller players are focusing on new product launches and expansions. Market leaders are trying to acquire smaller players. For instance,
In Feb 2019, Thor Industries Inc. has announced the complete acquisition of Erwin Hymer Group excluding its North American business.
In December 2020, Thor Industries Inc. announced that it had bought Tiffin Motorhomes, in a deal worth USD 300 million. After the deal, the Tiffin Group will operate as a stand-alone division of the corporation, and the Tiffin family will continue to run it.
In August 2020, Forest River announced that it is expanding its operations in DeKalb and LaGrange counties. The company said it will invest USD 3.5 million to expand its 20-acre manufacturing campus at 685 E. Main St. in Butler. The new facilities will allow the company to enhance the production of the XLR Toy Hauler.
In June 2020, the Campervan Camps and Holidays India launched LuxeCamper. Apart from manufacturing motorhomes, the company is also offering guided holidays to various destinations in the country for its customers.
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
5.1.1 Class A
5.1.2 Class B
5.1.3 Class C
5.2.1 Fleet Owners
5.2.2 Direct Buyers
5.2.3 Other End Users
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Rest of the World
22.214.171.124 South America
126.96.36.199 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Thor Industries, Inc.
6.2.2 Winnebago Industries, Inc.
6.2.3 Dethleffs GmbH & Co. KG
6.2.4 Hymer GmbH & Co. KG
6.2.5 Forest River Inc.
6.2.6 Rapido Motorhomes
6.2.7 The Swift Group
6.2.8 Tiffin Motorhomes Inc.
6.2.9 Triple E Recreational Vehicles
6.2.10 BÜRSTNER GMBH & CO. KG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS