Market Research Report
Recreational Vehicle (RV) Market in North America 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||322265|
|Published||Content info||118 Pages
Delivery time: 1-2 business days
|Recreational Vehicle (RV) Market in North America 2019-2023|
|Published: June 19, 2019||Content info: 118 Pages||
A recreational vehicle is a motor vehicle or trailer that is equipped with amenities and designed for temporary dwelling. Technavio's recreational vehicle market analysis considers the revenue generated from the sales of products such as towable RVs and motorized RVs. Our analysis also considers the sales of recreational vehicle in the US, and the rest of North America. In 2018, the towable RVs segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the advent of cost sharing ownership in a rental framework will play a significant role in the towable RVs segment to maintain their market position. Also, our recreational vehicle market report looks at factors such as the increasing adoption of RVs by different generations of consumers, enhanced exposure leading to increased sales, and the integration of advanced technologies into RVs. However, the vehicle recalls affecting the market dynamics, problems associated with RV ownership, and market sensitivity to macroeconomic factors may hamper the growth of the recreational vehicle industry over the forecast period.
The competitive nature of the RV market in North America is leading to the emergence of new technologies and advanced features, introduced by various vendors in the market. RV manufacturers are increasingly focusing on developing hybrid models for improved performance and minimal emissions. Technological advancements have encouraged vendors to add features such as roadside assistance systems, remote systems monitoring, and others. Thus, the integration of advanced technologies into RVs will fuel the growth of the recreational vehicle market in North America at a CAGR of more than 8% during the forecast period.
The increased collaboration between technology providers and vehicle manufacturers have resulted in the emergence of smart driver assist systems for RVs. These systems can improve the overall driving experience of RVs. For instance, vendors are focusing on integrating AI-based voice assistant into RV for hands-free interaction with infotainment systems. Thus, the emergence of smart driver assist systems is expected to drive the growth of the RV market in North America.
For the detailed list of factors that will drive the recreational vehicle market in North America during the forecast period 2019-2023, click here.
With the presence of several major players, the recreational vehicle market in North America is moderately fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading recreational vehicle manufacturers, that include Forest River Inc., Gulf Stream Coach, Inc., REV Group Inc., Thor Industries Inc., and Winnebago Industries Inc.
Also, the recreational vehicle market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.