Recreational Vehicle Market Size to Record Exponential Growth with USD 130.1 Billion Earnings By 2028: Zion Market Research

NEW YORK, Feb. 8, 2022 /PRNewswire/ -- According to findings of Zion Market Research, Recreational Vehicle industry amassed returns worth nearly US$ 55.2 billion in 2020 and is set to register profits of approximately US$ 130.1 billion by 2028. Moreover, Recreational Vehicle market is slated to register CAGR of almost 10.3% in 2021-2028.

Furthermore, growth of recreational vehicle market over assessment period can be credited to thriving tourism industry, increase in youth populace preferring recreational vehicles during travels, and escalating popularity of recreational vehicle camping activities. In addition to this, aging populace prefer recreational vehicles during outings, thereby creating lucrative growth avenues for recreational vehicle industry. Apparently, surge in commercial use of recreational vehicle and increase in active campers will boost business trends. A prominent increase in peer-to-peer rental services related to recreational vehicles is anticipated to enhance popularity of recreational vehicles among millennial population, thereby embellishing industry growth. High maintenance costs of product can retard growth of recreational vehicle industry over forecast timespan.

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Key players profiled in study and leveraging business space include Eclipse Recreational Vehicles, Inc., Fleetwood RV, Inc., Monaco RV LLC, Jayco Inc., Thor Industries, Inc., Forest River, Inc., Starcraft RV, Inc., Gulf Stream Coach, Inc., Heartland Recreational Vehicles, LLC, Skyline Corporation, Coachmen Recreational Vehicle Company, and Universal Trailer Corporation.

Class C To Dominate Motorized RVs Segment Over 2021-2028:

Growth of class C segment over assessment period can be credited to ability of class C motorized recreational vehicles to offer enhanced fuel efficiency in comparison to type A and type B motorized recreational vehicles. Furthermore, class C motorized RVs provides facilities same as giant motorized recreational vehicles in scaled-down kind and at reduced costs. This will spur segmental growth over assessment period. 

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Europe To Make Notable Contributions Towards Overall Market Size By 2028:

Expansion of recreational vehicle market in Europe over forecast period can be credited to rise in demand for motorhome recreational vehicles in countries such as the UK, France, and Germany. In addition to this, surge in demand for recreational parks & camping grounds in continent will embellish regional market growth. Furthermore, huge acceptance of technologically upgraded recreational vehicles in Europe will prop up regional market size over ensuing years.

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Browse the full "Recreational Vehicle Market- By Application (Industrial, Commercial, And Residential), By Motorized RVs (Type A, Type B, And Type C) And By Towable RVs (Travel Trailer, Fifth Wheel Trailer, Folding Camping Trailers, Truck Campers, And Park Model): Global Industry Perspective, Comprehensive Analysis And Forecast, 2021 – 2028." Report at https://www.zionmarketresearch.com/report/recreational-vehicles-market 

Report Scope:

The global Recreational Vehicle Market is segmented as follows:

By Application

• Industrial
• Commercial
• Residential

By Towable RVs

• Travel Trailer
• Fifth Wheel Trailer
• Folding Camping Trailers
• Truck Campers
• Park Model

By Motorized RVs

• Type A
• Type B
• Type C

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SOURCE Zion Market Research