New York, NY, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Recreational Vehicle (RV) Market By Vehicle (Motorhomes, Towable RVs), By Fuel (Petrol/Gasoline, Diesel, and Hybrid), By Exterior Construction Material(Wood, Steel, Fiberglass, Aluminium, and Others), and By Application (Commercial and Domestic): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the [195+ Pages PDF] research report, the global Recreational Vehicle (RV) Market was estimated at USD 51 billion in 2019 and is expected to reach USD 77 billion by 2026. The global Recreational Vehicle (RV) Market is expected to grow at a compound annual growth rate (CAGR) of 6% from 2020 to 2027.
Global Recreational Vehicle (RV) Market Growing On The Back Of Rising Demand For Adventures And Campings Among The People Of Several Countries As Rvs Are Considered To Be Easily Towable And Serves As Temporary Accommodation While Traveling.
Recreational Vehicle (RV) are those vehicles that are used for transportation and have temporary accommodation facilities such as small living rooms, kitchen, air condition systems, entertainment systems, and restrooms that can be used for recreational and camping activities. They are available in several models and can be personalized as per the needs of the consumers. These RVs can be connected with other vehicles and towed or they can be completely motorized by the manufacturer.
Browse through 71 Tables & 129 Figures spread over 185+ Pages and in-depth TOC on “Global Recreational Vehicle (RV) Market: By Type, Size, Share, Trends, Growth, Analysis, and Forecasts, 2020–2026”.
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The growing popularity of a comfortable vehicle for transportation and accommodation coupled with the rising demand for short-distance travel along with the countryside locations and attractive offerings from the manufacturers of RVs majorly attracts several adventure seekers in buying for renting the RVs on a weekend or long road-trips and holidays. The surging demand for the RVs has led to several technological advancements in the market. For instance, in June 2019, Airstream launched a series of towable recreational vehicles that offer large floor space with reduced weight owing to its aluminum body frame. Also, the availability of customization right from the selection of the raw material to the list of components to be installed in the vehicle, in terms of size and dimensions makes it popular for the consumers looking for RVs for their personal or commercial use. The customization option made available through websites and mobile apps makes it easy for the buyers to customize their vehicles from any location rather than visiting the manufacturer’s showroom every time.
The increasing demand for adventure camping in the countryside areas. People prefer traveling to the countryside away from the urbanized cities for some relaxation from their daily hectic routine. The companies that design the RVs also provide various technological facilities that help people to stay connected and contact in case of emergency with their family or friends. However certain restrictions that are imposed by the governments of different countries are hindering the growth of this market. Strict Government regulations such as the dimensions and specifications of the vehicles based on the vehicle type, the type of electrical installation used inside the vehicle, weight of the vehicle after including the amenities inside these vehicles, and other reasons are expected to shrink the market. Hence, many companies and new entrepreneurs must come up with new ideas and innovations that can help in the growth of the market.
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During the upcoming years, the growing preference among the consumers for RVs they are easily towable and provides good fuel efficiency even after being attached to the vehicle and acts as a temporary resting place for the consumers. However, the high purchase cost of the vehicles coupled with high maintenance costs is projected to hamper the market growth in the coming years. The growing demand for sustainable recreational vehicles that runs on batteries provides several growth opportunities and increases the challenges of the RV manufacturers in designing such vehicles that provide a good driving range for the consumers with an easy battery charging option.
Top Market Players
Some of the leading and top recreational vehicle (RV) companies in the global recreational vehicle (RV) market include GMC Motorhome, Skyline Corporation, Pleasure-Way Industries, Erwin Hymer, Airstream, Thor Industries Inc., Fleetwood Corporation, Nexus RV, REV Recreation Group, Kropf Industries, Dutchmen RV, Crossroads RV, Keystone RV, Bison RV Center, DRV Luxury Suites, Tiffin Motorhomes Inc., Cruiser RV, Forest River Inc., Highland Ridge, Winnebago Industries, Yutong Bus, and Grand Design RV.
Browse the full “Recreational Vehicle (RV) Market By Vehicle (Motorhomes, Towable RVs), By Fuel (Petrol/Gasoline, Diesel, and Hybrid), By Exterior Construction Material(Wood, Steel, Fiberglass, Aluminium, and Others), and By Application (Commercial and Domestic): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/recreational-vehicle-rv-market-by-vehicle-motorhomes-towable-560
Based on vehicle type, the worldwide recreational vehicle (RV) market can be segmented into Towable RVs and Motorhomes, with the 'Motorhomes category having the leading market share. In terms of applications, the recreational vehicle (RV) market can be segmented into Commerical and Domestic. Based on fuel analysis, the market can be bifurcated into petrol/gasoline, diesel, and hybrid, out of which petrol/gasoline is considered to have the leading market share. In terms of exterior construction, the market is divided into wood, steel, fiberglass, aluminum, and others, with the material aluminum holding the highest market share. In terms of geography, the Asia Pacific region held the leading market share of around 47% among other regions such as North America, Europe, Latin America, and Middle East & Africa in the recreational vehicle (RV) market.
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This report segments the Recreational Vehicle (RV) Market as follows:
Global Recreational Vehicle (RV) Market: By Vehicle Segmentation Analysis
- Motorhomes
- Type A
- Type B
- Type C
- Towable RVs
- Travel Trailers
- Fifth Wheel Trailers
- Folding Camp Trailers
- Truck Campers
Global Recreational Vehicle (RV)Market: By Fuel Segmentation Analysis
- Petrol/Gasoline
- Diesel
- Hybrid
Global Recreational Vehicle (RV) Market: By Exterior Construction Material Segmentation Analysis
- Wood
- Steel
- Fiberglass
- Aluminum
- Others
Global Recreational Vehicle (RV) Market: By Application Segmentation Analysis
- Commercial
- Domestic
Key Insights from Primary Research
- As per the analysis by our primary respondents, the Recreational Vehicle market is seen to grow at an annual rate of 6%.
- On the basis of type “Vehicle”, the motorhomes type is expected to have the largest share in the market.
- As per the findings in the type “Fuel”, Petrol/Gasoline is anticipated to have a big contribution to the market.
- As per the analysis done in the type “Exterior Construction Material”, the material of aluminum holds the maximum share in the market.
- On the basis of type “Application”, the commercial type is expected to have the largest contribution in the market.
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