RV Industry Analysis, Growth & Forecast To 2024

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RV Market Growth, Analysis, Forecast To 2024
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Key Insights from RV Market

• The proliferating customer spending on
  recreational and tourism activities will boost
  the recreational vehicle market share over the
  forecast timeframe. Increasing recreational
  vehicle parks along with the introduction of
  several customized facilities for RV owners to
  enhance their camping experience is further
  strengthening the recreational vehicles business
  generation till 2024.
• Motorhomes segment is estimated to account for
  around 60 recreational vehicle market revenue
  share over the forecast timeframe owing to the
  benefits offered including enhanced interior
  space with facilities including beds, kitchen,
  sink, and bathroom. The lower interest rates
  along with easier piloting and camping
  capabilities with electric jacks and hooks
  supports the product proliferation till 2024.
• The gasoline RVs segment showcased a significant
  growth rate of over 7 CAGR over the study
  timeframe owing to the multiple benefits offered
  compared to the counterparts including easier
  fuel availability, lower maintenance and
  acquisition cost. The lower emissions from the
  gasoline recreational vehicles along with
  improved performance in high altitude and cold
  weather conditions, coupled with superior power
  and speed capabilities provides a positive
  outlook for the RV market growth.

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Continued
The recreational vehicle market share from
towable RVs segment will capture the maximum
volume share of around 74 till 2024. This
dominance can be attributed to the easier
maintenance and operations. The availability of
several models at varied price range coupled with
lower depreciation compared to the motorable RVs
is further strengthening the segment
dominance. Diesel recreational vehicles
accounted for over USD 12 billion in 2017 and
will grow considerably over the forecast
timeframe. This can be attributed to the higher
fuel efficiency offered by these vehicles. The
rear engine configuration enhances the cooling
efficiency and limits cabin noise significantly,
enhancing the overall vehicle comfort. The
superior torque output from diesel engines
facilitates driving in steep inclines supporting
the RV market proliferation till 2024.
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U.S. Recreational Vehicles Market, By Fuel, 2017
2024, (Units)

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Major Companies in RV Market

• Thor Industries
• Winnebago Industries
• Forest River Inc.
• REV Recreation Group
• Airstream
• Bison RV center
• Crossroads RV
• Cruiser RV
• DRV Luxuty Suites

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Industry Coverage

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Regional Insights in RV Market

• North America and Europe contributed to around
  80 of the global recreational vehicle (RV)
  market. High growth of the recreational vehicles
  in these regions can be attributed to high
  average disposable income of the population that
  allows the consumers to invest in luxurious
  recreational vehicles for outdoor activities.
  Moreover, few people owning RVs utilize them as
  full-time residential facility, allowing them the
  mobility and facilities of residence. Growing
  consumer interests in touring and other
  recreational activities such as camping,
  sight-seeing, new destination exploration, etc.
  are expected to present favorable growth
  prospects through the forecast period.

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