Ocean View, DE -- (SBWire) -- 05/04/2020 --Recreational vehicles market size is slated to gain substantial momentum over the coming years owing to the rising level of average household income which in turn has facilitated the majority of people to invest in recreational and tourism activities. In order to promote the regional tourism sector, many countries have been massively investing in the deployment of recreational vehicles.

In addition, industry players are actively engaged in introducing innovative technical features in their product portfolio to improve vehicle performance. In July 2018, Thor Motor Coach had unveiled Miramar 35.2 motorhome with Wi-Fi extender, solar charge controller, updated styling, and advanced exterior entertainment system, to be launched by 2019.

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Increasing participation in recreational activities, proliferating recreational vehicle parks, and increasing disposable income across major economies are among the prominent factors driving the recreational vehicles market share. According to the RVIA publication, in March 2018, 89% of the consumers purchase recreational vehicles for camping in North America.

Industry participants are continuously investing in R&D to enhance efficiency and improving the vehicle performance by incorporating innovative solutions. For instance, in 2018, Winnebago, in partnership with Motiv Power Systems, introduced a fully electric recreational vehicle with a total driving range of up to 125 miles on a single charge. In 2017, Germany based Dethleffs showcased an RV with solar panels fitted on all the walls of the vehicle. This eliminates the constant requirement for charging the batteries and reduces the operating costs significantly.

Proliferating RV rental services demand along with the availability of multiple RV models at varied price points and engine alternatives has in turn led to increased consumer attraction towards these services. Inadvertently, requirement to cater the growing consumer demand along with fleet expansion will support the business expansion till 2024. The introduction of lightweight and ultra-lightweight RVs with focus on lower cost and reduced fuel consumption, are driving the recreational vehicles market over the study timeframe.

Asia Pacific is expected to witness significant growth at around 7% over the forecast period. This can be credited to the significant growth of the middle-class population and increasing emphasis on development of tourism in countries including China, India, Thailand, South Korea, Australia, and Japan. According to the U.S. Department of Commerce, China had around 56 active RV manufacturers contributing significant share of the nation's recreational vehicles market, as of 2016.

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Some of the key industry players in the recreational vehicles market place include: Winnebago Industries, Thor Industries, REV Recreation Group, and Forest River Inc. Industry participants are engaged in mergers and acquisitions for improving their market share. For instance, in 2016, Thor Industries acquired Jayco for USD 576 million. This acquisition has enabled the company to diversify its portfolio with a wide range of travel trailers, Class A, and Class C motorhomes, and attract a wide of customers.

Table of Contents (ToC) of the report:

Chapter 4. Recreational Vehicles Market, By Vehicle
4.1. Global Recreational vehicles market share by vehicle, 2017 & 2024
4.2. Motorhomes
4.2.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.2.3. Class A
4.2.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.2.4. 4.2.4 Class B
4.2.4.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.4.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.2.5. Class C
4.2.5.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.5.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3. Towable RVs
4.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3.3. Travel trailer
4.3.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3.4. Fifth wheel
4.3.4.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.4.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3.5. Tent trailer
4.3.5.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.5.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
Chapter 5. Recreational Vehicles Market, By Fuel
5.1. Global Recreational vehicles market share by fuel, 2017 & 2024
5.2. Gasoline
5.2.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
5.2.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
5.3. Diesel
5.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
5.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)

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