Caravan And Motorhome Market 2023 - In-Depth Insights & Analysis By 2029
The Caravan And Motorhome Market was valued at USD 44.57 billion in 2021. It is expected to reach USD 77.38 billion in 2028, registering a CAGR of 8.2% during the forecast period 2022-2028.
When travelling, caravans are frequently used as temporary housing. In addition, the majority of people use them as their primary residence due to their tow ability, low fuel consumption, low maintenance and insurance costs, and depreciation value. Customers are motivated to purchase recreational vehicles by the expansion of travel programs and the cost-effectiveness of RVs compared to other modes of transportation (RVs). The increasing registration of caravans is observable in a variety of geographic regions.
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As urbanization rates increase in numerous developing countries, automobile demand has exploded. In addition, consumer spending in the majority of developing nations has increased significantly over the past decade, with more people opting for luxury, safety, and engine efficiency. Manufacturers have been compelled to update their technology and develop new ideas in response to the market's expanding consumer demands. As auto production increases, it is anticipated that the market for motorhomes will increase during the forecast period.
As electric vehicles continue to dominate the automotive industry, RVs and caravans will soon be powered by electricity. The larger a caravan is, the greater the required towing weight and power. Currently available electric cars cannot pull a large caravan. The Iridium E Mobil 70EB, which debuted at the early 2019 German Trade Show, now has a range of 249 miles as opposed to the previous 124 miles. This is the world's first electric recreational vehicle, and its single-charge range is quite encouraging. Future electric vehicle owners who own or rent their homes would like to install electric motors on single-axis caravans so that small electric vehicles can tow small to large caravans.
Key Chapter Will Be Provided In The Report
•Heat Map Analysis
•Price Trend Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
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Segmentation Analysis of Caravan And Motorhome Market
Based On Product Type In A Caravan.
The travel trailers segment of the market studied was valued at USD 17.68 billion in 2020. Travel trailers are large containers built on top of a standard trailer frame. These trailers have ample living space, with amenities similar to that of a house. For example, these vehicles have a kitchen, water supply, bathroom, and refrigerator, depending on the size of the trailer. Another interesting feature of these trailers is that they can be expanded after they are detached from the vehicle and can provide extra leg space to the traveller.
Based On Product Type In The Motorhome
The Type A motorhomes (otherwise called conventional motorhomes) have a specially designed motor vehicle chassis that is spacious and well-equipped for the comfortable living of up to six people. These motorhomes come with home-like amenities, such as centralized heating and air conditioning systems, kitchens, bathrooms, and living areas with entertainment centers. The size of these motorhomes typically ranges between 21 ft to 45 ft, and they are powered by either diesel or gasoline engines. The registration of motorhomes increased in 2020 over 2019, compared to caravan figures, which is expected to drive the Type A segment of the market in the future.
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Based On End-User
The direct buyer's segment includes revenue generated from the sale of motorhomes directly to individuals. The direct buyer's segment accounted for the major share of the market in 2020. The segmental growth is primarily driven by the increasing per capita income of individuals across the world. The growth of the fleet owner segment is primarily driven by an increasing preference for rental motorhomes across the world.
By Caravan Type
•Folding Camp Trailers
By Motorhome Type
By End User
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Motorhomes are witnessing significant growth in demand across the world, especially from European countries. The German caravan and motorhome market accounted for USD 8.37 billion in 2020 and registering a high CAGR during the forecast period. Buyers are placing value on more comfort and features. Mobile applications linked to the vehicle, with details, like the level of water and gas in tanks and battery capacity, are becoming popular. However, due to COVID-19, the growth of caravans and motorhomes in the country experienced a setback, as the production halted, affecting the overall growth of the year. In 2020, Europe accounted for a major share of the global caravan and motorhome market due to the higher number of motorhomes sold when compared to North America.
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
•Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)
Table Of Content
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Product Type
3.2 By End-User
Additionally, we are offering company profiles for all of the major key companies. Please take the time to visit our company profiles. If you want to do any customized profiling for the companies do let us know.
Chapter 4: Market Landscape
Chapter 5: Caravan And Motorhome Market by End-User
Chapter 6: Company Profiles and Competitive Analysis
To Be Continued…
Players Covered in Caravan And Motorhome Market are:
•Thor Industries Inc.
•Forest River Inc.
•Winnebago Industries Inc.
•Burstner GmbH & Co. KG
•Triple E Recreational Vehicles
•Hymer GmbH & Co. KG
•Dethleffs GmbH & Co. KG
•Knaus Tabbert AG
•Trigano SA and other major players.
Key Industry Developments
In May 2021, East to West, a new division of Forest River inc., is ready to launch its brand-new line of travel trailers, Della Terra, at the 11th annual Forest River Product Expo. With focusing on high-quality, value-added products with a limited number of floorplans, also one colour scheme, and a higher selection of standards of the new brand.
In April 2021, Jayco Inc. declared to introduce new Customer Experience Software tools all over the divisions, such as Jayco, Entegra Coach, Highland Ridge, and StarCraft. The application of the new tool Qualtric Software to supply real-time customer experience data accessible anytime, anywhere.
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