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MarketersMEDIA / Newsroom / Recreational Vehicles (RV) Market to see 6% gains to hit $56.5bn by 2024

Recreational Vehicles (RV) Market to see 6% gains to hit $56.5bn by 2024

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Major recreational vehicle market players include Winnebago Industries, Thor Industries, REV Recreation Group, and Forest River Inc.

— 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 market 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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Gasoline segment accounted for around USD 23 billion in 2017 and is expected to continue its dominance in the recreational vehicle market over the forecast timeframe. This can be attributed to the lower maintenance and operation cost along with lower taxes compared to the counterparts. Further, lower acquisition costs along with supporting government regulations supporting the petrol vehicles sales over diesel owing to lower pollution are strengthening the industry expansion till 2024.

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 RV’s 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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Asia Pacific is expected to witness significant growth at around 7% over the forecast period. This can be credited to the significant growth of the middle-class population and increasing emphasis on development of tourism in countries including China, India, Thailand, South Korea, Australia, and Japan.

Some of the key industry players in the recreational vehicle market place include Winnebago Industries, Thor Industries, REV Recreation Group, and Forest River Inc. Industry participants are engaged in mergers and acquisitions for improving their market share.

Browse key industry insights spread across 308 pages with 339 market data tables & 11 figures & charts from the report, “Recreational Vehicles Market Size, By Vehicle (Motorhomes [Class A, Class B, Class C], Towable RVs [Travel Trailer, Fifth Wheel, Tent Trailer]), By Fuel (Gasoline, Diesel), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Sweden, Netherlands, Norway, China, Japan, India, Korea, Australia, Brazil, Mexico, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/recreational-vehicles-market

Table of Contents (ToC) of the report:
Chapter 4. Recreational Vehicles Market, By Vehicle
4.1. Global Recreational vehicle market share by vehicle, 2017 & 2024
4.2. Motorhomes
4.2.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.2.3. Class A
4.2.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.2.4. Class B
4.2.4.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.4.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.2.5. Class C
4.2.5.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.2.5.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3. Towable RVs
4.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3.3. Travel trailer
4.3.3.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.3.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3.4. Fifth wheel
4.3.4.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.4.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
4.3.5. Tent trailer
4.3.5.1. Market estimates and forecast, 2013 – 2024, (Units) (USD Million)
4.3.5.2. Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/recreational-vehicles-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Info:
Name: Arun Hegde
Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA
Phone: 1-888-689-0688
Website: https://www.gminsights.com/pressrelease/recreational-vehicle-rv-market

Source URL: https://marketersmedia.com/recreational-vehicles-rv-market-to-see-6-gains-to-hit-565bn-by-2024/459167

Source: MarketersMedia

Release ID: 459167

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