Press release
Van Conversion Market Outlook : Trends, Customization Demand & Competitive Landscape 2023-2032
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COVID-19 Impact analysis
The global van conversion market has majorly impacted by the COVID-19 pandemic. Due to strict regulations and lockdowns usage of these vans for commercial purposes was decreased. Also a large proposition of the global population was facing either losses or decrease in income which further led to decrease in expenditure of vehicles or in leisure. Primarily due to lockdown people were not going out for leisure and secondly decrease in income is further stopping them even after open-ups to spend on leisure which is making a very deep dent to the global tourism industry and its components. With such stagnant fall in the market manufacturers are facing losses which is further impacting the supply chain of raw material. However global van conversion market is anticipated to recover its losses with decrease in pandemic footprint globally.
Top Impacting Factors
Surge in craze and popularity of DIY van conversion for tourism purpose id one of the major drivers of the market.
Decrease in disposable income of consumer is restricting its expenditure on leisure purpose which is acting as one of the major restraints for the market.
Van conversion is becoming popular as unique and amazing caravan conversions and staycation posts and videos are being shared online through social media and other means which can act as a lucrative opportunity for future.
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Market Trends
Adoption in DIY
The COVID-19 lockdown has seen a surge in van sales as DIY enthusiasts buy up the vehicles to convert into camper vans. Concept of staycation and van conversion in becoming common these days because of social media.
With staycations set to become the new normal when lockdown comes to an end, people are transforming the vehicles specifically vans into holiday homes on wheels. Keen adventurers have kitted out the vans with beds, kitchens, sofas and solar panels, water tanks so they can take their motor homes on trips around the world.
The number of people applying for their vans to be re-designated as living spaces jumped by almost two-thirds in just two years of pandemic. Many people who flip their vans into ideal holiday homes share snaps of their transformations on social media which further led to increase in popularity and craze of such transformation.
Additionally, Camper vans being the older concept are facing severe competition as the van conversion market is increasing. DIY Conversion of vans is not only decreasing the cost but also developing the craze of re-constructing their vehicle for fun.
DIY of such vans will give harsh competition to the motor home and camper vans companies across the globe.
Key benefits of the report:
This study presents the analytical depiction of the van conversion industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of van conversion market.
The current market is quantitatively analyzed to highlight the van conversion market growth scenario.
The report provides a detailed van conversion market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the van conversion market research report:
Which are the leading market players active in the van conversion market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the van conversion market?
What are the projections for the future that would help in taking further strategic steps?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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