Market Overview

Recreational Vehicles Market in the US (2018-2022) by Product - Travel Trailers Have Led the RV Industry Recovery and Will Continue to Do So Going Forward - ResearchAndMarkets.com

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The "Recreational
Vehicles in the US by Product, 6th Edition"
report has been
added to ResearchAndMarkets.com's offering.

This study presents historical data (2007, 2012, and 2017) and forecasts
for 2022 by product (conventional travel trailers, fifth-wheel travel
trailers, class A motorhomes, class B motorhomes, class C motorhomes,
folding camping trailers, truck campers) in units and US dollars, and by
region (Northeast, Midwest, South, West) in US dollars.

The study covers accessories for RVs sold in the aftermarket. In
addition, it evaluates key industry players in the RV market and
analyzes consumer survey data.

Manufacturing Expansions Show Strong Outlook

Since 2016, at least three dozen RV manufacturing locations have added
or announced expanded plant capacity. While the top two manufacturers in
the RV industry, Forest River (4 projects) and Thor (13 projects),
account for the most activity, smaller companies, like nüCamp and RV
Factory, have also made additions to their manufacturing square footage.

While the expansions are intended to support production for a variety of
products, the majority are aimed at travel trailer manufacturing. The
construction projects are an indication of confidence in the extended
outlook of the market.

A Healthy Economy Has Spurred Consumer Confidence and
Expenditures

Since the Great Recession, during which demand for recreational vehicles
fell sharply, the economy has been slowly improving, along with consumer
spending. Interest rates remain low, keeping loans for large purchases
relatively affordable. Moreover, home values continue to rise, giving
consumers access to equity to support loans for RVs.

Travel Trailers Have Led the RV Industry Recovery and Will
Continue to Do So Going Forward

Sales of travel trailers continue to grow, even surpassing pre-recession
peaks. In 2017, unit sales of travel trailers were nearly 200% of 2007
levels. Travel trailers are favored for their variety of options, from
luxury to low-cost entry-level versions, and from those that require a
large truck to pull them to those that can be managed by most small
automobiles.

In general, trailers are preferred because, unlike motorhomes, they can
be left behind at a campsite while the owner tours the area in a
conventional automobile that can be parked anywhere. Current models
appeal to a range of consumers - from those looking for a retro or
European look or a functional vehicle that can haul their ATV or
snowmobile, to long-term travelers and to those on a quick weekend
getaway.

More Reasons to Own an RV and More Demographics to Own Them

The typical RV owner still falls in an older demographic - retirees and
"snow birds" - but younger consumers are particularly motivated by
lifestyle reasons including:

  • taking just the basics to escape the bustle of daily life
  • traveling with all of the comforts of home, including pets, while
    connected via Wi-Fi and electronic devices
  • living the "weekend warrior" lifestyle, tailgating at sporting events
    or concerts, camping, or taking motorcycles or other gear out for
    recreation
  • living and working full-time or for extended stretches on the road

For more information about this report visit https://www.researchandmarkets.com/research/fhxccb/recreational?w=4

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