Global Fifth Wheel Trailer Market Expected to Secure Notable Revenue Share during 2018-2027
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Leading fifth wheel trailer manufacturers such as Keystone Montana, Jayco Eagle, and Heartland Bighorns are focusing on designing innovative and intelligent fifth wheel trailers to offer an enhanced experience. According to the International Trade Association, Canada and Australia are likely to remain the largest markets for recreational vehicles and will offer lucrative growth opportunities to the key companies.
In addition to Australia and Canada, fifth wheel trailers will continue to gain popularity in Asia and Europe. Government in China is taking initiatives to develop recreational vehicles and campgrounds for promoting travel and tourism, which has opened various growth avenues for leading players. In addition, increasing number of campgrounds in Korea, Italy, and New Zealand have continued to attract travelers and tourists from various parts of the world. Growing popularity of camping in these countries has created significant growth opportunities for the leading producers and manufacturers.
Re-innovating Functionality, Quality, Design: Manufacturers to Focus on Offering a Technologically Immersive Experience
Diverse applications of the fifth wheel trailers have led manufacturers to develop application-specific trailers. As fifth wheel trailers witness significant demand for disaster management and addressing urgent healthcare requirements, leading manufacturers such as Grand Design and Keystone Monata are focusing on re-innovating the functionality, design, and quality as per the requirements of end-use industries. For instance, Grand Design has recently launched a range of innovative vehicles such as Reflection 150 series. This fifth wheel trailer offers towable features with spacious interiors and luxury features for customers.
In addition, major manufacturers are focusing on integrating secure and keyless locking systems in the fifth wheel trailers to offer convenience to the customers. For example, RVLock & Co. LLC has developed a range of keyless handles that are equipped with a keypad and wireless lock and unlock system. These advanced keyless access solutions can conveniently be installed in various trailers. Leading companies are incorporating novel and innovative solutions in the fifth wheel trailer to sustain their lead in the competitive market.
Global Approach: Online Rental Service Channels to Broaden Lucrative Growth Avenues
In order to expand their customer base, major companies are focusing on collaborating with the online rental service providers. Advances in technology and rapid adoption of smartphones among customers has created lucrative growth opportunities for the major firms. As customers prefer booking through smartphones and spending on quick vehicle rental services through online portals and applications, leading companies are concentrating on offering their services on these e-commerce channels.
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Major companies are focusing on offering per hour and distance rental services at reasonable prices to the customers. Rentcentric.com, Mcrent.eu, Campanda.com, and Outdoorsy.com are some of the popular online portals providing quick and on-demand rental services. To offer convenience to the customers, the companies are also offering them lucrative deals and packages specifically for comfortable journey while traveling. For instance, Mcrent.eu offers rental services across Europe and also offers travel protection services at different stations. In addition, these rental service portals offer lucrative deals in different seasons. Through offering lucrative deals, leading companies are focusing on increasing their customer loyalty and attracting new ones.
Green Certification and Labels: Leading Companies to Boost Their Brand Recognition and Increase Customer Loyalty
Government across various countries are implementing stringent regulations and taking initiatives to lower the emission level. To align with the government regulations, leading manufacturers are focusing on utilizing environment-friendly fuel replacements such as biofuels and hydrogen fuel cells. Leading manufacturers are also utilizing blended fuel, which includes 80% of the diesel and 20% of the biodiesel in replacement of fossil fuels to ensure lower emission level.
Major manufacturers such as Airstream, Coachmen, Featherlite Trailers, and Roadtrek have earned Green certification by the leading third-party green certification company, TRA Certification Inc. for manufacturing eco-smart recreational vehicle. As customers prefer spending on the brands that have earned an eco-friendly certification from TRA, leading manufacturers are focusing on improving their brand recognition by labeling their products as ‘Green Certified’.
In addition, a leading company Jayco Inc. announced that all the brands and products of the company have received ‘Green Certification’ by the TRA Certification Inc. Products offered by this company received Emerald ratings in three categories that include operation and maintenance, water efficiency, and indoor environment quality. Besides these products, the company received Gold ratings for energy and resource efficiency of the products. Through eco-friendly certifications and labels on the product, leading companies are focusing on attaining a competitive edge in the global market.
Valuable perspectives related to the current market developments and trends are encapsulated in the report, which provides the readers and investors a broader view of the global fifth wheel trailer market.
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