This global recreational vehicle market study report, which includes a market forecast report until 2025, is an in-depth study of the current as well as the future study of the industry. The research report also offers a complete overview of the market share, its competitor segment, product types, regional segmentation, and more. Furthermore, this market research report offers an overview of the global recreational vehicle market growth, revenue, cost structure, capacity, the rate at which the market is now expanding, and more.
As per the report, during the forecast period, the global recreational vehicle market is expected to grow at the Compound Annual Growth Rate of 8.60 %. The industry is expected to see tremendous growth during this forecast period. Speaking about recreational vehicles, these are like hotels for the owners and also considered as an inexpensive way to travel a long distance with comfort. As per the report, the growth in the uses of such vehicles is connected with a rise in income level.
On the other hand, different reports have suggested that travelers can save up to 78 percent of their vacation costs with a recreation vehicle. The vehicle comes with a sufficient amount of space and a bed. Travelers of all ages can use the vehicle. However, it is expected the current ongoing COVID-19 pandemic may greatly affect the growth of this market, and it has restricted the travel. People are now not preferring to travel anywhere. But, there would be a decent growth rate.
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Market Segmentation
The global recreational vehicle market has segmented on the basis of product application and product type. Speaking about product application-based market segmentation, the market is divided into business and leisure. However, the leisure segment is projected to be the dominating section. The major reason behind this would be the growing popularity of these vehicles. Besides, the demand for a perfect luxury vehicle is also increasing with time. Now, based on product type, it is segmented in to travel trailers, truck campers, fifth-wheel camper, folding camping, class A, B, and C motorhomes. Among these, the travel trailer product type is projected to rule the market.
Regional Overview
The global market for recreational vehicles, based on region, is divided into some crucial regions across the world. The global market is divided into North America, Asia Pacific, Europe, and the rest of the world. Now, to conduct proper research, the North American market is further divided into the US, Canada, Mexico, and more. The Ais Pacific market is categorized under Australia, New Zealand, China, India, and more. The European market is segmented into France, the UK, German, Spain, Italy, and more. Under the Rest of the World, there are South America, Africa, and the Middle East. North America is projected to lead the market in the future.
Industry News
In 2019, February 27, Thor Motor Coach launched its new customer care app, which is running with TOGO. The app will track the maintenance, send the important notification, and keep the service records of the owner’s recreational vehicle. This is expected to develop a better customer relationship between the company and its customers.
TABLE 1 LIST OF ASSUMPTIONS 22
TABLE 2 GLOBAL RECREATIONAL VEHICLE MARKET, BY PRODUCT TYPE 2017–2025 (USD MILLION) 34
TABLE 3 GLOBAL RECREATIONAL VEHICLE MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 36
TABLE 4 GLOBAL RECREATIONAL VEHICLE MARKET, BY REGION, 2017–2025 (USD MILLION) 37
TABLE 5 NORTH AMERICA: RECREATIONAL VEHICLE MARKET, BY COUNTRY, 2017–2025 (USD MILLION) 38
TABLE 6 NORTH AMERICA: RECREATIONAL VEHICLE MARKET, BY PRODUCT TYPE 2017–2025 (USD MILLION) 39
TABLE 7 NORTH AMERICA: RECREATIONAL VEHICLE MARKET, BY APPLICATION, 2017–2025 (USD MILLION) 39
TABLE 8 US: RECREATIONAL VEHICLE MARKET, BY PRODUCT TYPE 2017–2025 (USD MILLION) 40
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FIGURE 1 MARKET SYNOPSIS 12
FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL RECREATIONAL VEHICLE MARKET 13
FIGURE 3 GLOBAL RECREATIONAL VEHICLE MARKET ANALYSIS BY PRODUCT TYPE 14
FIGURE 4 GLOBAL RECREATIONAL VEHICLE MARKET ANALYSIS BY APPLICATION 15
FIGURE 5 GLOBAL RECREATIONAL VEHICLE MARKET: MARKET STRUCTURE 16
FIGURE 6 KEY BUYING CRITERIA OF RECREATIONAL VEHICLE 17
FIGURE 7 RESEARCH PROCESS OF MRFR 18
FIGURE 8 DRO ANALYSIS OF GLOBAL RECREATIONAL VEHICLES MARKET 23
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