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Recreational Vehicle Market to Stay Positive Through 2022-2028

Forest River, Inc., Thor Industries, GMC Motorhome, Winnebago Industries, Erwin Hymer, Dethleffs GmbH & Co. KG, Auto-Trail VR Ltd., and REV Recreation Group. The other noteworthy market players include Keystone RV, Airstream, CrossRoads RV, Highland Ridge, Skyline Corporation, DRV Luxury Suites, Cruiser RV, Dutchmen RV, Fleetwood Corporation, Grand Design RV, Kropf Industries, and Pleasure-Way Industries.


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Abhishek Verma

12 days ago | 3 min read
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The global recreational vehicle industry has been experiencing unprecedented growth for quite a while. The primary factors positively influencing the business landscape are the ever-growing interest in travel and road trips, increasing desire to experience an active outdoor lifestyle, and rising inclination towards other recreational activities like camping, sports, etc. Increasing emphasis on travel and tourism and raising awareness about the mental well-being and health benefits associated with being outdoors coupled with the fueling wanderlust among the younger population will boost the adoption of recreational vehicles in the times to come.

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Recreational vehicle sales have been on the rise for the past few years due to increasing technological advancements in equipment like powertrains and batteries. The growing adoption of hybrid and electric RVs to meet the strict government mandates regarding fuel efficiency and environmental sustainability are likely to boost the RV market outlook in the years ahead. 

Based on the latest report by Global Market Insights Inc., the global recreational vehicle market size could surpass a valuation of USD 135 billion by 2028.

Mentioned ahead are some notable trends strengthening the RV industry landscape.

Flourishing global travel and tourism industry

As per the World Travel and Tourism Council report 2021, the tourism sector is expected to witness promising growth opportunities in both domestic and international markets in 2022 and beyond. The report projected the travel & tourism GDP to ascend by nearly 30% in 2021 and 31% in 2022.

These favorable statistics are mainly driven by the increasing urge to travel outdoors and consistently rising disposable incomes globally, creating a pool of opportunities for the global RV market in the coming years. 

Increasing product adoption across North America

The North America recreational vehicle market may project significant growth trends in the forthcoming years owing to the increasing inclination towards travel and outdoor recreational activities, leading to proliferating product demand. 

According to the March 2021 data by the RV Industry Association’s survey of manufacturers, the total RV shipments during the first quarter of 2021 reached quite a record-breaking number.

The emerging love for road trips, travel in comfort, and exploring the outdoors are the primary reasons supporting these increasing sales. Besides, the growing popularity of camping for outdoor recreation activities and its positive impacts on physical and mental well-being will foster the RV industry outlook in the coming years.

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Escalating launches of electrical recreational vehicles

The growing environmental concerns and increasing reliance on clean energy have pushed RV industry players to innovate products with higher fuel efficiency, minimal emissions, and improved cost-efficiency.

Driven by these factors, in January 2022, Florida RV SuperShow came up with the Winnebago e-RV concept involving the utilization of clean energy.

Based on a Ford Transit van, Winnebago uses a typical transit with an electric powertrain and relies on battery power for onboard accessories and appliances. As per the company, equipped with an 86-kWh battery pack, the e-RV provides around 125 miles of range when operating onboard supplies and will meet the requirements of about 54% of RV customers, preferring trips under 200 miles.

Such innovative products will fuel the recreational vehicle market trends in the times ahead while significantly meeting the growing requirements of an expanding customer base.

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/recreational-vehicles-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Contact Us:Aashit TiwariCorporate Sales, USAGlobal Market Insights Inc.Toll Free: 1-888-689-0688USA: +1-302-846-7766Europe: +44-742-759-8484APAC: +65-3129-7718Email: sales@gminsights.com

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