The market is projected to grow at a CAGR of XX% and is expected to touch USD XX million by 2022. North America contributed to a market share of over 50%, followed by Europe with XX% in 2016. IRS (Internal Revenue Service) regulations proclaim that a motorhome with basic sleeping, cooking and bathroom facilities can be used as security for a loan and can also be claimed as a second home when met with IRS norms. The growth of the motorhome market is reflected by the enduring appeal of the motorhome lifestyle, even more so in the context of the economic revival in the country.
A motorhome is a self-propelled vehicle that offers a recreational environment with living rooms, kitchen, and washrooms. Based on the provision of comfort, motorhomes are categorized into three types—Class A, Class B, and Class C. The first category is regarded as the most expensive and luxurious, offering an expansive front window for viewing the surrounding landscape and berths that convert into a lounge or dinette area. Class B is treated as semi-integrated and possesses a double bed at the rear of the vehicle. Finally, the Class C, also known as coach built, provides a double berth over the driving cab.
Availability of pre-owned vehicles and rental companies offering housekeeping packages to consumers will drive the market for motorhomes during the forecast period. Market leaders are now trying to employ extensive promotional activities to propagate the popularity of motorhomes in the potential developing markets of the Asia-Pacific region.
Motorhome market is segmented by model type (Class A, Class B, and Class C), end user type (fleet owners, direct buyers) and geography (North America, Europe and Rest of the World).
Some of the key players in the market are:
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