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Recreational Vehicle Market revenue to hit USD 56.5 Bn by 2024, growing at over 6%, says Global Market Insights, Inc.

Asia Pacific RV market is expected to witness gains at around 7% during the forecast period due to 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.

Selbyville, Delaware, Jan. 15, 2020 (GLOBE NEWSWIRE) --

The market valuation of recreational vehicles will reach $56.5 billion by 2024 driven by massive investment from several countries in deploying RVs to promote regional tourism. The recreational vehicles are priced higher when compared to the conventional vehicles owing to which, numerous travelers have been giving preference to rental services. In this regard, rental service industries have also been looking forward to attracting more consumers by providing high-quality product ranges with sufficient insurance and low-cost maintenance facilities. The increasing popularity of high-end luxury and fuel-efficient RVs is thus slated to boost recreational vehicle market over the years ahead.

Reports estimate that the motorhomes sector is anticipated to contribute nearly 60% of revenues for recreational vehicle market over the estimated timeline due to high-level amenities including enhanced interior space with several facilities including kitchen, beds, bathroom, and sink. The deployment of luxurious features in the vehicles will further propel the product demand in the near future, fuelling the market outlook.

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Towable RVs accounted for over 900 thousand units in 2017 and will hold its dominance throughout the forecast period. Low fuel consumption, easily towable units, lower maintenance & insurance costs, and depreciation value are some of the major benefits of the towable RVs.

The gasoline segment is very likely to dominate the recreational vehicle market with a CAGR of over 7% through 2024. The gasoline powered RVs require lower maintenance and operation cost along with advantage of having lower taxes as compared to the other fuel counterparts. Thus, the low cost of ownership coupled with the lower emission rates will lead toward increasing demand for gasoline RVs.

The North America recreational vehicle market is projected to account for a huge global share by 2024. This growth is attributed toward the high disposable incomes of the population along with growing consumer interest toward outdoor recreations. In addition, most of the consumers appear to be utilizing the motorhomes as their full-time residential facility, which has resulted in the burgeoning growth of the regional market.

Asia Pacific RV market is expected to witness gains at around 7% during the forecast period due to 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 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.

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Table of Contents (ToC) of the report:

Chapter 3.   Recreational Vehicle Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024

3.3.    Industry ecosystem analysis

3.3.1.  Component suppliers  Fiber-reinforced plastic panel  High-Pressure Laminates  Plywood  Polyvinyl Chloride  Others

3.3.2.  Pricing trends  Laminated panels and cabinets

3.3.3.  Manufacturers

3.3.4.  Profit margin analysis

3.3.5.  Distribution channel analysis  Component importers  Distributors  Laminators  RV manufacturers

3.3.6.  End-users

3.3.7.  Aftermarket

3.3.8.  Vendor matrix

3.4. List of key players involved in the sales flow

3.4.1.  RV Manufacturers

3.4.2.  Laminators

3.4.3.  Distributors

3.4.4.  Importers

3.5.   Pricing trends by region

3.5.6.  Cost structure analysis

3.6.   Technology Landscape

3.6.1.  Solar-powered RV

3.6.2.  Helium Technology

3.6.3.  Accu-Slide Expandable Room System

3.7.   Material trends

3.7.1.  Fiber reinforced plastic panel

3.7.2.  High-Pressure Laminates

3.7.3.  Plywood

3.7.4.  Polyvinyl Chloride

3.7.5.  Others

3.8. Regulatory Landscape

3.8.1.  North America

3.8.2.  Europe

3.8.3.  Asia Pacific

3.8.4.  Latin America

3.8.5.  Middle East & Africa

3.9. Industry best practices and key buying criteria

3.9.1.  Need recognition

3.9.2.  Information search

3.9.3.  Evaluation of alternatives

3.9.4.  Purchase decision

3.9.5.  Post purchase behaviour

3.10.  Industry impact forces

3.10.1.   Growth drivers by region

3.10.2.   Industry pitfall and challenges

3.11.  Growth potential analysis, 2017

3.12.   Porter’s analysis

3.13.   Competitive landscape

3.13.1.   Top players’ overview, 2017

3.13.2.   Strategic dashboard

3.13.3.   PESTLE analysis

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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.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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