Market Snapshot:
Caravans and RV (recreational vehicle) is also known as a travel trailer or camper trailer is towed behind a road vehicle to provide a place to sleep which is more comfortable and protected than a tent (although there are fold-down trailer tents. It provides the means for people to have their own home on a journey or a vacation, without relying on a motel or hotel, and enables them to stay in places where none is available. According to a secondary source, in the year 2016, the United States was the top leading country followed by China that ranked second as a destination market for caravans and RV. The total United States RV exports in 2016 were increased to USD 13.7 million compared to USD 7.9 billion in 2015. The Towable RVs were 58% of 2016 RV exports and 42% were motorhomes. The increasing demand for adventure camping and camping grounds developed countries has driven the global caravans and RV market growth.The research analyst at AMA estimates Caravans and RV market to grow at a compounded annual growth rate of 6.36%
Segment Analysis
AMA Research have segmented the market of Global Caravans and RV market by Type, Application and Region. On the basis of Type, Motorhomes are dominating the market in the year 2021 where as Towable RVs stood as second largest market share.
On the basis of geography, the market of Caravans and RV has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
Development of Tourism Industry and Advent of Electric Recreational Vehicles
Market Drivers
Increasing Campgrounds by Youth Population, Improving Consumer Confidence Index and Growing Popularity of RV Camping
Opportunities
Rising Aging Population, Proliferating RV Rental Services Demand and Rising Demand for Air Conditioned Caravans and RV
Restraints
- High Cost of Caravans and RV
In addition to the aforementioned factor, Increasing Campgrounds by Youth Population
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The global caravans and RV market is highly competitive and diversified due to the presence of a large number of regional and international providers across the globe. These providers are progressively focusing on the production of products that have a higher quality to meet the customer’s expectations such as high performance, reliability, and pricing. Furthermore, new players find it difficult to enter the market as the production of caravans and RV design and products is highly capital-intensive.
The key Vendors profiled in the study are Forest River (United States), REV Group, Inc. (United States), Thor Industries Inc. (United States), Winnebago Industries Inc. (United States), Trigano SA (France), REV Group, Inc. (United States), Swift Group (United Kingdom), RAPIDO SAS (France), Nexus RV, LLC. (United States), Northwood Manufacturing (United States), Lunar Caravans Ltd. (United Kingdom), Triple E Recreational Vehicles (Canada), Dethleffs (United Kingdom), Fendt Caravan GmbH (Germany) and Knaus Tabbert AG (Germany). A lot of United States and European players are profiled in the research study indicating a strong market dependence.