The Global Market for Recreational Vehicles is Forecast to Reach 770.5 Thousand Units by 2022

Growing Passion for the “Great Outdoors” & Rising Preference for “Adventure Travel” Drive Growth in the Global Recreational Vehicles Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Recreational Vehicles market. The global market for Recreational Vehicles is forecast to reach 770.5 thousand units by 2022, driven by the growing preference for adventure travel among the urban population trapped in nature deprived modern lifestyles. 

Reconnecting with life represents the most current trend among the modern population living life in the fast paced digitalized world. Rise in nature tourism, defined as responsible travel to locations endowed with natural splendor and beauty is a direct fallout of the trend towards reconnecting with nature. Spiritual Ecology and Earth Based Judaism are rapidly evolving into religious cults built to unleash mental, spiritual and physical healing into the imperfect urban life. Comprising ecotourism, adventure tourism, extractive tourism, wildlife tourism and nature retreats, nature tourism is rapidly accounting for an increasing share of both international and domestic tourism. One of the most important factors driving the emergence of nature tourism as a viable industry with lucrative commercial opportunity is the growing efforts of governments worldwide to conserve biodiversity and the resulting increase in protected nature reserves. Use of recreational vehicles (RV) is becoming increasingly popular in nature based tourism with people preferring to experience the tourist experience through their own private mode of transportation as compared to mass transit options. 

Development of car and camping technologies, and nature parkways are additionally encouraging recreational driving. The development of parkways provides pleasurable driving uninterrupted by traffic congestions and accidents. A growing number of countries including the U.S. are investing in specialized roadways such as landscaped boulevards. Especially suited for recreational vehicles travelling at 35 to 55 miles per hour, the development of parkways plays a major role in encouraging highway recreation and sightseeing.  Unlike freeways and highways which are built for higher speed commuting and transportation, parkways are designed for pleasure driving. The scenario encourages more frequent outdoor expeditions by road to location sites rich in natural scenic beauty, thus directly wielding a positive impact on the RV market. Other major factors spurring market prospects include growth of the travel and tourism industry higher than global GDP; end of mass tourism and search for alternative forms of tourism; development of outdoor recreational infrastructure; affluent aging population seeking exotic vacations and experiences; and fall in oil prices and the ensuing affordability of road transport. 

As stated by the new market research report on Recreational Vehicles, the United States represents the largest market worldwide, supported by the rich cultural heritage of “RVing” lifestyles as evidenced by the penchant for the nomadic lifestyle of camping and traveling. Europe and Asia-Pacific rank as fast growing markets with CAGRs of over 6.3% and 6.2%, respectively, over the analysis period, led by factors such as rise in freedom camping, popularity of family tourism, development of “alternative” caravan sites and locations and rise in caravanning among the younger people seeking affordable adventure.

Major players in the market include ADRIA MOBIL d.o.o, Erwin Hymer Group, Hymer GmbH & Co. KG, Niesmann + Bischoff GmbH, Forest River Inc., Coachmen RV a Division of Forest River Inc., Palomino RV, Hobby-Wohnwagenwerk Ing. Harald Striewski GmbH, Lunar Caravans, Northwood Manufacturing, Nexus RV, Pilote, Pleasure-Way Industries Ltd., REV Group Inc., Swift Group, Thor Industries Inc., Airstream, Heartland Recreational Vehicles LLC, Jayco Inc., Starcraft RV Inc., K-Z Inc., Tiffin Motorhomes Inc., Triple E Recreational Vehicles, Trigano SA, Chausson, Westfalen Mobil GmbH, Winnebago Industries Inc., among others.

The research report titled “Recreational Vehicles: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, The Netherlands, Sweden, and Rest of Europe), Asia-Pacific (Australia, New Zealand and Rest of Asia-Pacific), and Rest of World. The report analyzes the market by the following product segments in different geographic regions where applicable - Motor Homes (Class A, Class B, and Class C), Travel Trailers (Conventional Travel Trailer and Fifth Wheel Travel Trailer), Campers & Camping Trailers (Folding Camping Trailer and Truck Camper), Motor Caravan, Touring Caravan, and Campervans.

To connect with us, visit our LinkedIn page.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.