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Towable Recreational Vehicles Market Size 2021 Manufacturing Size, Share, Opportunities, Trends, Industry Expansion Strategies and Global Analysis by Forecast to 2027 - Thor Industries, Forest River

12-13-2021 05:22 AM CET | Logistics & Transport

Press release from: Market Insights Reports

The Towable Recreational Vehicles Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Towable Recreational Vehicles Market Size is Projected to Reach at a CAGR of 4% during 2021-2027.

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Market Overview:

The COVID-19 crisis has tremendously impacted the tourism industry. Thus, this has derailed the sales of recreational vehicles in the market. However, the slow recovery of the market and consumers’ preference to stay in caravans, then hotels can stimulate the growth of the market. The high proliferation of rental services in emerging economies is expected to propel the market over the forecast period. The growing number of active campers is contributing to the demand for RVs. The commercial usage of RV is on the rise. Growth in peer-to-peer rental services is expected to increase popularity among millennials, which are increasingly seeking rental services. Furthermore, the increasing demand for road trips as a getaway from quarantine may boost the market growth. The post lockdown period is likely to witness a rise in the number of first-time buyers.

Top Leading Companies:

Thor Industries, Forest River, Winnebago Industries, Fendt-Caravan, Erwin Hymer Group, Knaus Tabbert, Hobby Caravan, Dethleffs, Gulf Stream Coach

Recent Developments

Thor has acquired 17 companies, including 4 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 2 assets. Thor’s largest acquisition to date was in 2021 when it acquired Airxcel for $750M. Its largest disclosed sale occurred in 2013 when it sold Thor - Bus Business to REV Group for $100M. Thor has acquired in 4 different US states, and 2 countries. The Company’s most targeted sectors include automotive (83%) and chemicals (6%). Thor manufactures a wide range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. Thor was founded in 1980 and is based in Elkhart, Indiana.

Forest River has acquired 3 companies of its own, including 1 in the last 5 years. Forest River’s largest acquisition to date was in 2008 when it acquired Coachmen RV for $42M. Forest River has been acquired in 1 US state. The Company’s most targeted sectors include automotive (100%). Forest River Inc. is a manufacturer of recreational vehicles, cargo trailers, utility trailers, pontoon boats, and buses. Forest River Inc. was formed in 1996 and is based in Elkhart, Indiana.

Towable Recreational Vehicles Market Segmentation by Type:

Travel Trailers
Fifth Wheels

Towable Recreational Vehicles Market Segmentation by Application:

Residential
Commercial

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North America to Witness Significant Growth

The North American recreational vehicle market is the largest across the globe. RV is highly popular among Americans, and over 11% of households own it. Over 1 million households in the United States live in RVs full time. It allows travelling at 20–60% less cost, which is mainly driving the popularity of RV among millennials. The recreational vehicle market contributes an overall USD 114 billion to the US economy, employing over 600,000 people. Thus, RV is one of the global industries in the US economy. Over the next few years, the United States is expected to drive revenue growth of the North American recreational vehicles market. The Canadian recreational vehicles market may also exhibit significant growth in the years to come. Canada is expected to gain more than 15 BPS. It is expected to hold more than a 10% share of the North American recreational vehicles market until the end of the forecast period.

Regional Towable Recreational Vehicles Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Towable Recreational Vehicles Market Report:

Detailed overview of Towable Recreational Vehicles Market
Changing the Towable Recreational Vehicles market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Towable Recreational Vehicles market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Towable Recreational Vehicles Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Towable Recreational Vehicles Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Towable Recreational Vehicles industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

We Offer Customization on Report Based on Specific Client Requirement:

– Free country Level analysis for any 5 countries of your choice.

– Free Competitive analysis of any 5 key market players.

– Free 40 analyst hours to cover any other data point.

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Market intelligence data is a global front-runner in the research industry, offering customers contextual and data-driven research services. Customers are supported in creating business plans and attaining long-term success in their respective marketplaces by the organization. The industry provides consulting services, Market Intelligence Data research studies, and customized research reports.

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