New York, NY, July 29, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Recreational Vehicle Market by Motorized RVs (Type A, Type B, and Type C), by Towable RVs (Travel Trailer, Fifth Wheel Trailer, Folding Camping Trailers, Truck Campers, and Park Model), and by Application (Industrial, Commercial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024’’.

According to the report, the global recreational vehicles market was valued at around USD 38.48 billion in 2017 and is expected to reach approximately USD 64.25 billion by 2024, with a CAGR of 7.6 % between 2017 and 2024.

Recreational vehicles are transportable living spaces to avail maximum luxury and comfort while traveling. They are also called motorized homes. They have excellent fuel efficiency and storage capability. New trends and ongoing innovations have transformed the conventional recreational vehicle market, as they are available in various lengths and sizes depending on per their storage capacity.

Browse through 81 Tables & 29 Figures spread over 155 Pages and in-depth TOC on “Global Recreational Vehicles Market Size & Share 2017: Industry Growth, Trends, Manufacturers, Analysis and Forecast, 2024”.

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The report covers a forecast and an analysis of the recreational vehicle market on a global and regional level. The study provides historical data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion) and volume (K Units). The study includes the drivers, challenges, and restraints for the recreational vehicle market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the recreational vehicle market on a global level.

This report offers a comprehensive coverage of the global recreational vehicle market along with the market trends, drivers, and restraints of the recreational vehicle market. This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the recreational vehicle market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary, and the primary research team of industry experts.

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Some high-impact rendering factors for the recreational vehicle market are high fuel efficiency as compared to conventional vehicles and increasing preferences by urban population for adventure travel and tourism. Additionally, the growing range of entertainment and comfort is among the significant factors influencing the recreational vehicle market. However, the license requirement by the recreational vehicle type might limit the recreational vehicle market. Nevertheless, the incorporation of solar technology in recreational vehicles is the innovative measure that can propel the recreational vehicle market in the upcoming years.

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Rising preferences for private mode of transportation with reference to mass transit coupled with continuously growing entertainment and comfort options in motorhomes is the major factor propelling the recreational vehicle market. Alternatively, government regulations for the use of RVs (recreational vehicles) in various regions are a serious factor that might limit the market. Nonetheless, advanced gadgets and innovative features can spur this market in the future.

The global recreational vehicle market is classified into motorized RVs, towable RVs, and application. The motorized RVs segment is divided into type A, type B, and type C. The demand for motorized RV is growing at the highest rate, owing to a high degree of comfort and high fuel efficiency. Type A motorized RVs are the most expensive as they offer high comfort and luxury, whereas type Cs are less expensive motorized RVs combined with all the type A amenities. Type B dominates the motorized RV segment, due to their frequent use for camping. Travel trailer, fifth wheel trailer, folding camping trailers, truck campers, and park model comprise the towable RVs segment of the recreational vehicle market. The demand for travel trailers is expected to grow in the estimated time period, due to their wide applications and their use for long-term living. By application, the market is divided into industrial, commercial, and residential sectors.

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Geographically, the recreational vehicle market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific holds the highest growth potential for the recreational vehicle market, due to a large number of initiatives taken by the government to develop the region’s tourism sector. Australia, China, Japan, and Korea are the major markets for recreational vehicles. Japan is a significant contributor to the recreational vehicle market in this region. Recreational vehicles are also used in Japan for commercial purposes. Japan imports a large number of RVs from the U.S., out of which 87% are towable homes. In 2011, during earthquake and tsunami, Japan imported a large number of trailer homes as temporary living spaces for survivors. However, some Asian countries have implemented driving and safety rules related to large vehicles that might hinder this regional market in the near future.

Significant players of the global recreational vehicle market are Thor Industries, Inc., Gulf Stream Coach, Inc., Eclipse Recreational Vehicles, Inc., Coachmen Recreational Vehicle Company, Heartland Recreational Vehicles, LLC, Starcraft RV, Inc., Skyline Corporation, Monaco RV LLC, Jayco Inc., Fleetwood RV, Inc., Forest River, Inc., and Universal Trailer Corporation, among others.

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This report segments the global recreational vehicle market as follows:

Global Recreational Vehicle Market: Motorized RVs Segment Analysis

  • Type A
  • Type B
  • Type C

Global Recreational Vehicle Market: Towable RVs Segment Analysis

  • Travel Trailer
  • Fifth Wheel Trailer
  • Folding Camping Trailers
  • Truck Campers
  • Park Model

Global Recreational Vehicle Market: Application Segment Analysis

  • Industrial
  • Commercial
  • Residential

Global Recreational Vehicle Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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