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The North American Recreational Vehicle Market is segmented by Towable RVs (Travel Trailers, Fifth Wheel Trailers, Folding Camp Trailers, and Truck Campers), Motorhomes (Type A, Type B, and Type C), and Geography.
2018 - 2026
The North American recreational vehicle market is anticipated to register a CAGR of about 7.02% during the forecast period (2019 – 2024).
An RV is a vehicle, which combines transportation and temporary living quarters for travel, recreation, and camping. The two main categories of RVs are motorhomes (motorized) and towable (towed behind the family car, van or pickup).
The North American recreational vehicle market has been segmented by type and geography.
|Fifth Wheel Trailers|
|Folding Camp Trailers|
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According to a study commissioned by the Recreation Vehicle Industry Association, the US ownership of RVs is increasing at a fast pace.
One of the primary reason propelling the growth of the market is a rise in income, employment, and household wealth. However, owing to the rise in the manufacturing cost for RV manufacturers and RV dealers adjusting their inventories due to changes in inventory carrying costs, there is a decline in the sales of RVs.
Additionally, newer and younger RV owners and shoppers demonstrate higher and more robust shopping intentions than older RVers. Most current owners say they may probably purchase another RV sometime in the future. Furthermore, baby-boomers are also propelling the demand for and sales of motorhomes. They prefer an experience-seeking lifestyle post-retirement, thus, they prefer motorhomes, as well as travel trailers as a viable and convenient option, due to the fuel economy offered by them.
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Type B motorhomes are commonly called van campers. They are driven like a family van and are however smaller in size, compared to the type A motorhomes. These are built on the chassis of a full-sized van and feature a raised roof to facilitate walking upright.
These vehicles provide the campers with comfortable sleeping quarters and all the necessities, along with some luxurious features, such as refrigerator, hot water, air conditioning, and heating. However, they miss out some features, such as full sized entertainment system and laundry facilities, owing to their small size.
These motorhomes are less expensive in nature and are preferred by consumers who have 2-3 family members, and occasional campers. They cost between USD 60,000 and USD 130,000, with the difference in price arising from different models providing different amenities.
Being smaller in size, the major advantages of type B motorhomes are maneuverability and the ease of driving.
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The major players of the North American recreational vehicle market are Thor Industries Inc., Forest River Inc., Winnebago Industries, REV Group, and Triple E . The recreational vehicle market is highly competitive amongst the dominant players. The companies are continually competing with each other, and are opting strategies, like acquisition, heavy investment in R&D projects, and offering more luxurious services in the vehicle. For instance,
Additionally, in October 2018, American Coach launched American Dream Class A Diesel RV at the annual Elkhart RV Dealer Open House event. American Coach represents REV Group’s top-of-the-line luxury RV brand. The vehicle is available in both 42- and 45-foot floor plans. The vehicle is priced at USD 600,000.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Towable RVs
5.1.1 Travel Trailers
5.1.2 Fifth Wheel Trailers
5.1.3 Folding Camp Trailers
5.1.4 Truck Campers
5.2.1 Type A
5.2.2 Type B
5.2.3 Type C
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Thor Industries Inc.
6.3.2 Winnebago Industries
6.3.3 Forest River Inc.
6.3.4 REV Group
6.3.5 Nexus RV
6.3.6 Triple E RV
7. MARKET OPPORTUNITIES
8. IMPACT OF RECREATIONAL VEHICLE RENTAL INDUSTRY
** Subject to Availability