Press release
North America Recreational Vehicles Market on Track to US$ 26.19 Bn by 2024
In a recently published market outlook titled “Recreational Vehicle Market: North America Industry Analysis and Forecast 2016 to 2024," Persistence Market Research delivers key insights into the critical factors expected to impact the market growth over the next few years. The report also provides country-wise and segmental analysis estimated for an eight-year forecast period, 2016-2024.
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Rising consumer inclination toward entertaining outdoors and adventure travel will remain the key drivers to North America market for recreational vehicles. Recent style and design innovations fuel the market growth further.
Developing outdoor recreational infrastructure and growing preference for sustainable tourism against mass tourism will collectively create revenue generation channels for RV manufacturers.
Baby Boomers have always been the largest consumer cluster for recreational vehicle. However, several manufacturers are increasingly targeting young consumers through emphasis on new, cost-effective product launches based on advanced technology. Thor Industries recently (2016) introduced smaller Class C and Class A motorhomes, specifically targeting younger generation consumers.
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U.S. based manufactures are likely to encounter with attractive opportunities in developing Asian countries, including Japan, China, and South Korea. For existing network expansion, various small manufacturers are consolidating with established players. Vendors are also offering multiple financing options on RV purchase.
A few more factors that will continue to favor the growth of recreational vehicle market include initiatives by governments. States’ rising investments in specialized roadways specifically designed for recreational vehicle prompt at lucrative opportunities in near future.
Geographical analysis of North America recreational vehicle market bifurcates the market into the U.S. and Canada. While the U.S. is anticipated to take a leap over US$ 22 Bn by 2024 end, Canada market will possibly represent a total incremental opportunity of US$ 1,552.2 Mn between 2016 and 2024.
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About Us
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.
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