Recreational Vehicle Industry Outlook 2022-2031 : Strong 7.6% CAGR to Drive Market Expansion

Allied Market Research recently published a report, titled, "Recreational Vehicle Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2021 - 2031." The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

The global recreational vehicle market was valued at USD 57.3 billion in 2021, and is projected to reach USD 117 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031.

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

Factors influencing the growth of the market:

The global recreational vehicle market is expanding rapidly due to factors such as rise in electrification, surge in recreational vehicle rental services owing to recreational & leisure activities. Moreover, volatile costs of raw materials are anticipated to hinder market growth. Nevertheless, robust demand for recreational vehicles with advanced features will offer lucrative growth opportunities to the market in future.

The motorhomes segment to grab the lion's share throughout the forecast timeframe

In terms of type, the motorhomes segment accounted for the largest share in 2021, contributing to more than three-fifths of the total market revenue and is estimated to rule the roost during the forecast period. The same segment is expected to portray the highest CAGR of 8.1% from 2022 to 2031. The features of motorhomes such as storage space, kitchen units, beds, own engine, and driving chassis contributed to the growth of the segment. The report also analyzes the towable recreational vehicles segment.

Procure Complete Research Report (PDF with Qualitative and Quotative Data, Insights, Statistics, Tables, Charts, Figures) - https://www.alliedmarketresearch.com/recreational-vehicle-market/purchase-options

The personal segment to dominate the market by 2031

By application, the personal segment accounted for the largest share in 2021, contributing to nearly three-fifths of the total market revenue and is expected to rule the roost during the forecast period. The segment is driven by vast usage of personal recreational vehicles for outdoor recreational events. On the other hand, the commercial segment would display the fastest CAGR of 9.0% throughout the forecast timeframe, owing to massive increase in the utilization of commercial recreational vehicles for camping activities by tourists.

North America to continue its supremacy during the forecast period

Under the regional analysis, the North America region held the highest share of more than two-fifths of the global market revenue in 2021 and is estimated to grab the lion's share from 2022 to 2031. The growth is attributed to a huge acquisition of motorhome recreational vehicles in nations like the US. The Asia-Pacific region, on the other hand, would display the fastest growth with a 9.3% CAGR during the forecast period. A surge in penetration of recreational vehicles across the region owing to the increasing population and growing disposable income. The report also discusses LAMEA and Europe regions.

Leading Players in RV Market:

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

Interested to Procure the Research Report? Inquire Before Buying -
https://www.alliedmarketresearch.com/purchase-enquiry/6792

The report examines the prominent stakeholders within the global recreational vehicle market. These stakeholders have executed essential business approaches, including strategic expansion, the introduction of new products, the formation of alliances, and the establishment of joint ventures, aimed at improving their market reach and sustaining their standing within the industry. The report aids the intended audience in assessing market performance, the performance of individual market segments, the development of product portfolios within the market, and the contributions made by each stakeholder to the market's growth.

Browse More Trending Reports :

Automotive Garage Equipment Market
https://www.alliedmarketresearch.com/automotive-garage-equipment-market

U.S. Third-Party Logistics Market
https://www.alliedmarketresearch.com/u-s-third-party-logistics-3pl-market-A105892

Residential EV Charging Station Market
https://www.alliedmarketresearch.com/residential-ev-charging-station-market-A265244

Electric Cargo Bike Market
https://www.alliedmarketresearch.com/electric-cargo-bike-market-A08498

Medical Courier Market
https://www.alliedmarketresearch.com/medical-courier-market-A313234

Contact :

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

About Us :

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.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.