Adventure on Wheels : Navigating the Expanding Recreational Vehicle Market Forecast, 2021-2031

Allied Market Research recently published a report, titled, "Recreational Vehicle Market by Type (Motorhomes and Towable RVs) and by Application (Personal and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global recreational vehicle industry was estimated at $57.3 billion in 2021, and is set to reach $117 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6792

𝐓𝐡𝐞 𝐦𝐨𝐭𝐨𝐫𝐡𝐨𝐦𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐢𝐧 𝟐𝟎𝟑𝟏

Based on the type, the motorhomes segment contributed the highest market share in 2021, accounting for more than three-fifths of the global recreational vehicle market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. However, this same segment will record the highest CAGR of 8.1% during the forecast timeline. The growth of the segment over the assessment period is attributed to its beneficial features such as driving chassis, own engine, beds, kitchen units, and storage space. The report also includes other segments such as towable recreational vehicles.

𝐓𝐡𝐞 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐡𝐨𝐥𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐨𝐯𝐞𝐫 𝟐𝟎𝟐𝟐-𝟐𝟎𝟑𝟏

On basis of the application, the personal segment contributed to the largest market share in 2021, accounting for nearly three-fifths of the global recreational vehicle market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period is subject to the massive use of personal recreational vehicles for outdoor recreational events. However, the commercial segment is predicted to record the highest CAGR of 9.0% over the forecast period. The growth of the segment over the forecast timeline can be credited to a prominent increase in the use of commercial recreational vehicles by tourists for camping activities.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/recreational-vehicle-market/purchase-options

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐫𝐞𝐭𝐚𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐨𝐯𝐞𝐫 𝟐𝟎𝟐𝟐-𝟐𝟎𝟑𝟏

By Region, North America contributed notably toward the global recreational vehicle market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global market share in 2021. The same region is slated to contribute significantly toward the global market size in 2031. The growth of the regional market over the forecast timeline is due to large-scale acceptance of motorhome recreational vehicles in countries such as the U.S. However, the Asia-Pacific recreational vehicle industry is anticipated to record the highest CAGR of 9.3% over 2022-2031. The regional market growth over the projected timespan is owing to a rise in penetration of recreational vehicles in the region due to the surging urban population and increasing disposable income of the people. The report also includes other regions such as LAMEA and Europe.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The spread of the COVID-19 pandemic has positively impacted the global recreational vehicle (RV) market size. Recreational vehicle industry observed rise in the sales of recreational vehicles during the pandemic period as people started to prefer staying in recreational vehicle such as caravans in comparison to hotels. For instance, the Recreational Vehicle Industry Association observed North American RV sales rose to 4.5% in 2020, to 424,400 units.

In addition, the recreational vehicle manufacturers faced a shortage in the supply of raw materials, owing to the pandemic quarantine measures and restrictions. Majority of the domestic market participants especially from North America and Europe depend on the Asia-Pacific countries such as China, Australia, and other countries for the supply of the raw materials. Supply chain disruption results to hamper manufacturing activities of the recreational vehicles, thereby resulted in delay in the production of recreational vehicles.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6792

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Airstream.com
Coachmen Recreational Vehicle Company, LLC
Cruiser RV
Entegra Coach,
Forest River Inc.
Gulfstream Coach Inc.
Jayco Inc.
Newmar Corporation
Oliver Travel Trailer
Thor Industries Inc.
Tiffin Motorhomes
Winnebago Industries

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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