Recreational vehicle consists of transportation and temporary living compartments for recreation, camping, and travelling purpose. Recreational vehicles are incorporated with certain comfort features such as cooking facilities, cooking and bathroom facilities, air condition system, entertainment system and slide out rooms. These vehicles are primarily categorized into towable recreational vehicle and motorized recreational vehicle.
Increasing popularity of adventure activities coupled with a rise in spending on vehicle recreation is anticipated to drive the recreational vehicles market during the forecast period. Rising demand for short-distance travel and attractive offerings from recreational vehicle manufacturers are likely to propel the recreational vehicles market in the near future. Furthermore, a rise in per capita income across developed and developing countries across the globe results in an increase in vehicle spending coupled with rise in spending on luxury and adoption of new technologies in recreational vehicles is likely to propel the recreational vehicles market during the forecast period. Rising adoption of electric recreational vehicles, owing to stringent emission norms, is expected to boost the demand for recreational vehicle during the forecast period.
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The global Recreational vehicles market can be segmented based on type, application, fuel, and region. Based on type, the recreational vehicles market can be segregated into towable recreational vehicle and motorized recreational vehicle. The towable recreational vehicle is towed by a motorized vehicle and does not require highway movement permit. Under towable recreational vehicle several categories are present such as Folding Camping Trailer, Truck Camper, Travel Trailer, and Fifth Wheel. The motorized recreational vehicle segment is projected to expand significantly during the forecast period. Motorized recreational vehicles are self-propelled and consist of transportation and living quarters. Class A Motorhome, Class B Motorhome, Class C Motorhome are comes under motorized recreational vehicle. Based on application, the recreational vehicles market can be bifurcated into commercial and domestic. The domestic segment is likely to hold a major share of the recreational vehicles market owing to increasing preference for comfortable traveling among consumers.
In terms of fuel, the recreational vehicles market can be segregated into gasoline and diesel. The gasoline segment is likely to hold a major share of the recreational vehicles market owing the advantages of gasoline powered recreational vehicles, such as less maintenance, as compare to recreational vehicles powered by diesel. Gasoline fuel offers more power along with superior speed control on hilly roads and hence, the gasoline segment is likely to dominate the recreational vehicles market during the forecast period.
Based on region, the recreational vehicles market can be segmented into North America, Latin America Europe, Asia Pacific, and Middle East & Africa. North America held a significant share of the recreation vehicle market, owing to the presence of major recreational vehicle manufacturers and distributors in the region. Rise in disposable income in countries in Asia and increase in spending on luxury and comfort are likely to boost the recreational vehicles market in Asia Pacific.
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Key players operating in the Recreational vehicles market include Thor Industries, Winnebago Industries, Forest River Inc., REV Recreation Group, Airstream, Bison RV center, Crossroads RV, Cruiser RV, DRV Luxuty Suites, Dutchmen RV, Erwin Hymer, Fleetwood Corporation, GMC Motorhome, Grand Desigh RV, Highland Ridge, Kropf Industries, Keystone RV, Skyline Corporation, and Pleasure-Way Industries.
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