Market Size of North America Recreational Vehicle Industry
Market Size (2024)|
USD 19.83 Billion|
Market Size (2029)|
USD 29.11 Billion|
CAGR (2024 - 2029)|
Fastest Growing Market|
*Disclaimer: Major Players sorted in no particular order
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North America RV 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).
Over the medium term, a growing number of active campers is contributing to the demand for RVs. The commercial usage of RVs is on the rise. Growth in peer-to-peer rental services is expected to increase popularity among millennials, who are increasingly seeking rental services. Furthermore, the increasing demand for road trips as a getaway from quarantine may boost market growth.
The Canadian government recommended investing in tourism policies, such as advertising and messaging, which are expected to promote domestic RV dealers over foreign RV dealers in the market. Thus, the investment in camping and RV infrastructure is likely to improve the tourism industry and the Canadian RV market.
Over the years, the renting process of a new RV has become easier. In addition, RV rentals are offering lucrative deals to lure customers. With the new models and technologies arriving in the market every year, customers have a plethora of options to choose from. Every new trip can be made with a new RV model with different amenities. This factor provides the customers with a new experience every time they rent a new type of RV.