Global Motorhome Vehicle Market Report and Forecast 2024-2032

Global Motorhome Vehicle Market Outlook

The global motorhome vehicle market size reached a value of approximately USD 36.75 billion in 2023. The market is further expected to grow at a CAGR of 8.4% between 2024 and 2032, reaching a value of USD 75.25 billion by 2032.

Key Trends in the Market

A motorhome vehicle, also commonly known as an RV (recreational vehicle) is a large, self-propelled vehicle that provides living accommodation facility along with transportation. They are designed to function as contained living quarters with facilities that can include kitchens, storage spaces, bed rooms, bathrooms, and workspaces, among others, while traveling. These vehicles are quipped with their own driving chassis and engines and are classified into class A, B, and C, based on size and capacity.

• The key motorhome vehicle market trends include increasing travel and tourism activities owing to rising disposable incomes. The amenities provided by a motorhome vehicle include sleeping areas, portable toilets, bathrooms, mobile kitchens, and recreational workspaces, among others. Increasing number of tourists are opting for motorhomes as availability of such amenities makes travel more convenient for them.

• Growing popularity of nomadic lifestyles is another crucial trend positively contributing towards the growth of the market for motorhome vehicles. With rising prevalence of remote working, more people are turning to motorhomes for full-time accommodation while being able to travel, which is anticipated to propel the motorhome vehicle market share in the upcoming years.

• With the surge in demand for motorhomes, more consumers are opting for luxurious motorhome vehicles at higher price points. These luxurious motorhome vehicles are typically equipped with improved features and facilities, providing greater comfort to travellers. Rising disposable incomes and increased interest in luxury motorhome vehicles are expected to boost the motorhome vehicle market price.

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Market Analysis

On the basis of type, the market is segmented into Class A, Class B, and Class C. Based on application, the market is bifurcated into personal and commercial. On the basis of region, the market is classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global motorhome vehicle market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Thor Industries, Inc.

• Winnebago Industries, Inc.

• REV Group, Inc.

• Triple E Canada Ltd.

• Forest River, Inc.

• Westfalen Mobil GmbH

• Hymer GmbH & Co. KG

• Newmar Corporation

• Bürstner GmbH & Co. KG

• InTech

• Others

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Market Share by Application

According to motorhome vehicle market reports, personal applications are anticipated to hold a significant portion of the market over the forecast period. Living in motorhomes is becoming increasingly popular in various regions across the globe as the costs of living in motorhomes are significantly lower. With motorhomes, expense including mortgage/rent, and utilities, among others are spared, thus significantly reducing the cost of living. Another factor aiding the motorhome vehicle market growth includes growing popularity of minimalistic lifestyles among the urban population. For part-time travelling for leisure purposes, motorhomes remove the need for booking accommodations while travelling, increasing their appeal for personal applications. Additionally, development of road infrastructure and vehicle parks in various countries is further propelling the growth of the personal applications of the market for motorhome vehicles.

Market Share by Region

Based on the motorhome vehicle market research, North America is expected to account for a major portion of the market over the forecast period owing to increase popularity of motorhomes among the population of the region. Growing number of millennials in North America are opting for motorhome households due to benefits such as inexpensive price ranges as compared to traditional homes and the flexibility of traveling while working. Another crucial factor aiding the growth of the market in North America include rising demands for motorhome rental services and vehicles. Furthermore, increasing travel and tourism in the North American region is also boosting the popularity of motorhomes.

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Competitive Landscape

Thor Industries, Inc. is a travel trailer and camper company that was founded in 1980 and is headquartered in Indiana, United States. They are one of the world’s largest manufacturers of recreational vehicles. The company is known for selling motorised and towable RVs through their subsidiary brands including Jayco and Heartland RV, among others.

Winnebago Industries, Inc. is a recreational vehicle manufacturing company that was founded in 1958 and is based in Minnesota, United States. Among other products, Winnebago also manufacturers light to medium utility vehicles. They are devoted towards providing their customers with extraordinary mobile life experiences as they live, travel, play, and work.

REV Group, Inc. is a speciality vehicle manufacturing company that was founded in 2010 and is headquartered in Wisconsin in the United States. They are the leading manufacturers and designers of speciality vehicles and related services and parts. They provide customised vehicle solutions for commercial infrastructure, public services, and leisure, among others.

Other market players include Triple E Canada Ltd., Forest River, Inc., Westfalen Mobil GmbH, Hymer GmbH & Co. KG, Newmar Corporation, Bürstner GmbH & Co. KG, and InTech, among others.

Key Highlights of the Report