What's Driving the Recreational Vehicles Market Growth? Airstream, GMC, Keystone RV, Thor Motor Coach, REV Recreation Group, Heartland RVs

Recreational vehicles market size is slated to gain substantial momentum over the coming years owing to the rising level of average household income which in turn has facilitated the majority of people to invest in recreational and tourism activities. In order to promote the regional tourism sector, many countries have been massively investing in the deployment of recreational vehicles.

In addition, industry players are actively engaged in introducing innovative technical features in their product portfolio to improve vehicle performance. In July 2018, Thor Motor Coach had unveiled Miramar 35.2 motorhome with Wi-Fi extender, solar charge controller, updated styling, and advanced exterior entertainment system, to be launched by 2019.

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It has been estimated that global recreational vehicles market share will surpass USD 56.5 billion by 2024. The increasing popularity of fuel-efficient and high-end luxury vehicles is slated to stimulate the deployment of recreational vehicles over the coming years.

In the last few years, it has been observed that the demand for motorhomes has surged dramatically, encouraging vehicle manufacturers to design advanced and newer models of the vehicles. As of now, numerous automakers have augmented their production capabilities to accomplish the growing vehicle demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Airstream
2. GMC
3. Grand Design RV Co.
4. Heartland RVs
5. Keystone RV
6. REV Recreation Group
7. Thor Motor Coach
8. Tiffin Motorhomes Inc.

Reports estimate that the motorhomes sector is anticipated to contribute nearly 60% of revenues for recreational vehicles market share over the estimated timeline due to the high-level amenities including enhanced interior space with several facilities including kitchen, beds, bathroom, and sink.

The deployment of luxurious features in the vehicles will further propel the product demand in the near future, fueling recreational vehicles market outlook.

Manufacturers are focusing on the recent advancements in composite materials and vehicles to reduce emission level from gasoline recreational vehicles. According to reports, the gasoline RVs segment will exhibit a noteworthy CAGR of more than 7% over the estimated timeline due to the lower maintenance cost along with the several benefits offered as compared to other counterparts.

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These vehicles are also used for improving performance in cold weather and high-altitude conditions which will strengthen recreational vehicles market forecast. Moreover, manufacturers are continuously directing rigorous efforts towards lowering the vehicle weight by introducing lightweight components such as aluminum and fiberglass.

Rising consumer interests toward recreational and touring activities such as sight-seeing, camping, and new destination exploration will further favor the business growth prospects. Well-established and emerging players that operate in recreational vehicle industry including Winnebago Industries, Thor Industries, Forest River Inc., and REV Recreation Group, among others.

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