PORTLAND, OREGAON, UNITED STATES, October 25, 2023 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Recreational Vehicle Market by Type (Motorhomes and Towable RVs) and by Application (Personal and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031.” As per the report, the global recreational vehicle market was estimated at $57.3 billion in 2021, and is set to reach $117 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6792
𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬
Rise in recreational vehicle rental services due to leisure & recreational activities and a surge in electrification will drive the growth of the global recreational vehicle market. However, fluctuating raw material costs are likely to hamper the expansion of the global industry. Escalating demand for recreational vehicles with newly embedded features will create new growth avenues for the global market.
𝐓𝐡𝐞 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐡𝐨𝐥𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐨𝐯𝐞𝐫 𝟐𝟎𝟐𝟐-𝟐𝟎𝟑𝟏
On basis of the application, the personal segment contributed to the largest market share in 2021, accounting for nearly three-fifths of the global recreational vehicle market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period is subject to the massive use of personal recreational vehicles for outdoor recreational events. However, the commercial segment is predicted to record the highest CAGR of 9.0% over the forecast period. The growth of the segment over the forecast timeline can be credited to a prominent increase in the use of commercial recreational vehicles by tourists for camping activities.
𝐓𝐡𝐞 𝐦𝐨𝐭𝐨𝐫𝐡𝐨𝐦𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐢𝐧 𝟐𝟎𝟑𝟏
Based on the type, the motorhomes segment contributed the highest market share in 2021, accounting for more than three-fifths of the global recreational vehicle market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. However, this same segment will record the highest CAGR of 8.1% during the forecast timeline. The growth of the segment over the assessment period is attributed to its beneficial features such as driving chassis, own engine, beds, kitchen units, and storage space. The report also includes other segments such as towable recreational vehicles.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/recreational-vehicle-market/purchase-options
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐫𝐞𝐭𝐚𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐨𝐯𝐞𝐫 𝟐𝟎𝟐𝟐-𝟐𝟎𝟑𝟏
By Region, North America contributed notably toward the global recreational vehicle market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global market share in 2021. The same region is slated to contribute significantly toward the global market size in 2031. The growth of the regional market over the forecast timeline is due to large-scale acceptance of motorhome recreational vehicles in countries such as the U.S. However, the Asia-Pacific recreational vehicle industry is anticipated to record the highest CAGR of 9.3% over 2022-2031. The regional market growth over the projected timespan is owing to a rise in penetration of recreational vehicles in the region due to the surging urban population and increasing disposable income of the people. The report also includes other regions such as LAMEA and Europe.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Coachmen Recreational Vehicle Company, LLC
Forest River Inc.
Gulfstream Coach Inc.
Oliver Travel Trailer
Thor Industries Inc.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6792
The report analyzes these key players in the global recreational vehicle market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
The content is by EIN Presswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.