Global Recreational Vehicle Market is Expected to Grow at a CAGR of 5% in the Forecast Period of 2024-2032

The global recreational vehicle (RV) market is expected to be driven by the rising supply and increase in the number of industry players in the next few years. A growing demand for hotel as well as resort charges is anticipated to improve the luxury vehicle market, which is an inexpensive and versatile choice for organisers.

In January 2021, one of the key players, Thor Industries Inc. (NYSE: THO), announced the establishment of a new subsidiary Hymer USA, which uses European manufacturing procedure, and automation and control standards – the first for North American rental car industry, to produce and market recreational vehicles (RVs). During the fourth trimester of the calendar year 2021, Hymer USA will have its own headquarters during Bristol, Indiana. Such expansions and developments by the key players are expected to have a positive impact on the market.

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Market Analysis by Type and Region:

• The types of recreational vehicles include towable RVs and motor homes. Towable RVs can be further segmented into travel trailers, fifth wheel trailers, folding camp trailers, and truck campers.
• The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The popularity of cost-sharing ownership in a rental framework is likely to play a crucial role in the segment of towable recreational vehicles (RVs).
• The rising acceptance of recreational vehicles (RVs) is also propelling the growth of the market.
• The increased exposure and the inclusion of advanced technologies have also provided further impetus to the development of the market.
• The rising expansion of the recreation vehicles fleet by car rental services is projected to influence the market positively.

Key Offerings of the Report:

• The EMR report gives an overview of the global recreational vehicle (RV) market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types and major regions of recreational vehicles.
• It assesses the market based on the SWOT and Porter’s Five Forces models.

The major key players in the global recreational vehicle (RV) market include companies like Thor Industries Inc., Forest River Inc., Winnebago Industries Inc., REV Group Inc., Nexus RVS LLC, Tiffin Motorhomes Inc., Triple E Canada Ltd., and others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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