North America RV Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Offers North American Recreational Vehicle Market Trends and Forecasts. It is Segmented by Towable RVs (travel Trailers, Fifth Wheel Trailers, Folding Camp Trailers, and Truck Campers), Motorhomes (Type A, Type B, and Type C), Application (domestic and Commercial), and Country (United States, Canada, and the Rest of North America). The Report Covers the Market Size and Forecast in Value (USD) for all the Above-Mentioned Segments.

North America RV Market Size

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North America Recreational Vehicle Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 19.83 Billion
Market Size (2029) USD 29.11 Billion
CAGR (2024 - 2029) 7.99 %
Market Concentration High

Major Players

North America Recreational Vehicle Market Major Players

*Disclaimer: Major Players sorted in no particular order


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North America Recreational Vehicle Market Analysis

The North America Recreational Vehicle Market size is estimated at USD 19.83 billion in 2024, and is expected to reach USD 29.11 billion by 2029, growing at a CAGR of 7.99% during the forecast period (2024-2029).

The North America RV (Recreational Vehicle) market is a dynamic and flourishing industry, driven by various factors such as the rising disposable income among consumers, enabling them to invest in leisure activities such as travel and outdoor adventures. Additionally, there is a growing preference for outdoor recreation and camping, especially among millennials and families, fostering increased demand for RVs as a means to explore nature and enjoy the freedom of the open road.

However, the market also faces certain restraints, including the high initial cost of purchasing an RV, which may deter price-sensitive consumers. Fluctuating fuel prices also impact the affordability of RV travel, influencing consumer decisions regarding leisure activities. Moreover, regulatory challenges such as licensing requirements and zoning restrictions can pose barriers to entry and operation in certain regions, potentially limiting market growth.

Despite these challenges, the North America RV market presents numerous opportunities for growth and innovation. The rise of the sharing economy has led to the emergence of peer-to-peer RV rental platforms and shared ownership models, providing consumers with more flexible and affordable options for experiencing RV travel. Furthermore, expanding into new markets, such as younger demographics, urban dwellers, and international markets, can diversify the customer base and stimulate market expansion.

Major players such as Thor Industries, Forest River Inc., Winnebago Industries, and REV Group dominate the North America RV market. These companies compete on various factors such as product innovation, brand reputation, pricing, and distribution networks to maintain market share and gain a competitive edge. Additionally, smaller players and niche manufacturers contribute to market diversity by offering specialized RVs tailored to specific customer preferences and needs, further enriching the overall market landscape.

North America Recreational Vehicle Market Trends

Motorized RVs are the Largest Segment by Type

With travel and tourism gaining popularity across the globe, people are seeking unique and adventurous experiences. The desire for experiential and immersive travel experiences has contributed to the increased demand for motorized RVs. The shortage of available campgrounds in many countries has also contributed to the demand for motorized RVs.

Further, motorhomes are witnessing a significant growth in demand across North American countries like the United States and Canada. The increasing number of HNWIs and the availability of widespread parking areas for RVs are driving their adoption in North America.

The demand for recreational vehicles has boomed after the outbreak of the pandemic, as most people started planning their holidays while avoiding public transportation due to safety precautions. Several recreational vehicle companies across North America witnessed significant booking growth during the COVID-19 pandemic.

Moreover, over the past few years, the demand for Class B and Class C motorhomes has also increased due to their advantages. For instance, the population of the United States participating in camping has seen an upward trajectory over the last few years.

• In 2023, the number of users opting for camping in the United States stood at over 57 million, as compared to the figure of around 55 million in 2022.

All these factors combined will positively boost the demand for motorized RVs during the forecast period.

North America Recreational Vehicle Market: Total contribution of travel and tourism to the gross domestic product (GDP) in the United States in 2019 and 2022, in USD Trillion

United States is Expected to Dominate the Market During the Forecast Period

The increase in campgrounds in the country illustrates the increasing preference for recreational travel with motorhomes. Thus, the United States has more than 230 chain outlets, and local motorhome dealers are trading motorhomes to meet the increasing demand for them. These dealers provide a range of state-of-the-art motorhomes and the latest-model-year second-hand motorhome units preferred by most fleet operators. To compete in the growing electrical vehicle era, most of the RV manufacturing companies are manufacturing electric recreational vehicles to stay ahead in the market. For instance

• In March 2023, Harbinger, a Southern California-based automotive manufacturer, delivered a purpose-built medium-duty EV chassis to THOR Industries. THOR plans to upfit the chassis into an electrified class A RV at its THOR US Innovation Lab in Elkhart, Indiana.

The quick and steady recovery of the United States from the recent COVID-19 pandemic and the availability of a healthier financing environment drive the motorhome market in the United States. Currently, the country forms the largest market for RVs globally.

Motorhomes are widely used in the country for travels during vacations and for tailgating, traveling with pets, and business. They are also a preferred mode of transportation in outdoor sports and other leisure activities.

These vehicles provide campers with comfortable sleeping quarters and all the necessities, along with some luxurious features, such as a refrigerator, hot water, air conditioning, and heating. However, they miss out on some features, such as a full-sized entertainment system and laundry facilities, owing to their small size.

Therefore, all the factors mentioned above are expected to contribute to the market's overall development during the forecast period.

North America Recreational Vehicle Market - International travel spending in the United States from 2019 to 2022, in USD Billion

North America Recreational Vehicle Industry Overview

The major players in the North American RV market are Thor Industries Inc., Forest River Inc., Winnebago Industries, and REV Group. The recreational vehicle market is highly competitive amongst the dominant players. The companies are continually competing with each other and are opting for strategies, like acquisitions and heavy investment in R&D projects, while offering more luxurious services in the vehicle. For instance,

In August 2023, Winnebago launched its first all-electric recreational vehicle prototype - Winnebago eRV2, for North America using Ricardo's expertise. Ricardo is a global strategic, environmental, and engineering consulting company.

North America RV Market Leaders

  1. Thor Industries

  2. Forest River Inc.

  3. Winnebago Industries, Inc.

  4. REV Group

  5. Triple E Recreational Vehicles

*Disclaimer: Major Players sorted in no particular order

North America Recreational Vehicle Market Concentration
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North America Recreational Vehicle Market News

  • April 2023: First Hydrogen introduced a novel zero-emission recreational vehicle (RV), utilizing fuel cell technology in collaboration with the EDAG Group. This partnership seeks to apply fuel cell electric technology to larger vehicles, showcasing the advantage of handling higher payloads and achieving longer ranges compared to battery electric vehicles (BEVs) for RVs. Their inaugural van is designed to cover distances ranging from 249 to 373 miles (400 to 600 kilometers) on a single five-minute refueling, with the expected range for the Gen 2 vehicle yet to be disclosed.
  • January 2023: Winnebago Industries debuted its inaugural fully electric RV, the "eRV2," at the Florida RV SuperShow in Tampa. This emission-free model operates all systems—both house and powertrain—on electricity, supporting up to seven days of "boondocking" solely on batteries. The RV incorporates accessories crafted from recyclable and biodegradable materials, complemented by a 900-watt solar capacity for extended off-grid stays. Its 48-volt battery system offers over 15,000 usable watt-hours, cleverly stored beneath the floor in a thin, space-maximizing design. Sustainable practices extend to the interior with recycled flooring, mattresses, and other materials. At the same time, the customizable broad-color spectrum lighting aims to reduce light pollution, benefitting local flora and fauna.

North America RV Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

      1. 4.1.1 Increased Travel and Tourism to Fuel Market Demand

    2. 4.2 Market Restraints

      1. 4.2.1 Recreational Vehicle Rental to Affect The Market Over the Long Term

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Towable RVs

        1. Travel Trailers

        2. Fifth Wheel Trailers

        3. Folding Camp Trailers

        4. Truck Campers

      2. 5.1.2 Motorhomes

        1. Type A

        2. Type B

        3. Type C

    2. 5.2 Application

      1. 5.2.1 Private

      2. 5.2.2 Commercial

    3. 5.3 Country

      1. 5.3.1 United States

      2. 5.3.2 Canada

      3. 5.3.3 Rest of North America


    1. 6.1 Vendor Market Share**

    2. 6.2 Company Profiles*

      1. 6.2.1 Thor Industries Inc.

      2. 6.2.2 Winnebago Industries Inc.

      3. 6.2.3 Forest River Inc.

      4. 6.2.4 REV Group

      5. 6.2.5 NeXus RV

      6. 6.2.6 Triple E Recreational Vehicles

      7. 6.2.7 Tiffin Motorhomes Inc.

      8. 6.2.8 Entegra Coach Inc.

      9. 6.2.9 Cruiser RV


    1. 7.1 Autonomous RV to rebuild the caravanning experience

**Subject to Availability
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North America Recreational Vehicle Industry Segmentation

A recreational vehicle is a motorized (driveable) or non-motorized (towable) vehicle that includes living quarters. They are used for camping, traveling, and other recreational activities. The two main categories of RVs are motorhomes (motorized) and towable (towed behind family cars, vans, or pickups).

The North American RV market has been segmented by type, application, and country. By type, the market is segmented into towable RVs and motorhomes. Towable RVs are further segmented into travel trailers, fifth-wheel trailers, folding camp trailers, and truck campers. Motorhomes are further segmented into type A, type B, and type C. By application, the market is segmented into private and commercial. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecast have been done based on value (USD).

Towable RVs
Travel Trailers
Fifth Wheel Trailers
Folding Camp Trailers
Truck Campers
Type A
Type B
Type C
United States
Rest of North America
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North America RV Market Research FAQs

The North America Recreational Vehicle Market size is expected to reach USD 19.83 billion in 2024 and grow at a CAGR of 7.99% to reach USD 29.11 billion by 2029.

In 2024, the North America Recreational Vehicle Market size is expected to reach USD 19.83 billion.

Thor Industries, Forest River Inc., Winnebago Industries, Inc., REV Group and Triple E Recreational Vehicles are the major companies operating in the North America Recreational Vehicle Market.

In 2023, the North America Recreational Vehicle Market size was estimated at USD 18.25 billion. The report covers the North America Recreational Vehicle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Recreational Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

North America RV Industry Report

Statistics for the 2024 North America RV market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America RV analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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North America RV Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)