Recreational Vehicle (RV) Market to Decelerate at a CAGR of Almost 10% During 2020-2024 | Technavio

LONDON-Technavio has been monitoring the recreational vehicle (RV) market in North America and it is poised to grow by USD 9.43 billion during 2020-2024, decelerating at a CAGR of almost 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a negative impact on the recreational vehicle (RV) market in North America. However, the market in 2020 is likely to see an increase compared to the market growth in 2019.

Frequently Asked Questions:

Based on segmentation by product, which is the leading segment in the market?
Towable RVs is the leading segment in the market.
What are the major trends in the market?
The emergence of smart driver-assist systems is one of the major trends in the market.
At what rate is the market projected to grow?
The market growth will decelerate at a CAGR of almost 10%.
Who are the top players in the market?
Berkshire Hathaway Inc., Gulf Stream Coach Inc., Nexus RV, Northwood Manufacturing Inc., Pleasure-Way Industries Ltd., REV Group Inc., Thor Industries Inc., Tiffin Motorhomes Inc., Triple E Canada Ltd., and Winnebago Industries Inc are the top players in the market.
What are the key market drivers and challenges?
The integration of advanced technologies into RVs will drive market growth while the problems associated with RV ownership are expected to hamper market growth.
How big is the US market?
86% of the market’s growth originated from the US in 2019.

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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Berkshire Hathaway Inc., Gulf Stream Coach Inc., Nexus RV, Northwood Manufacturing Inc., Pleasure-Way Industries Ltd., REV Group Inc., Thor Industries Inc., Tiffin Motorhomes Inc., Triple E Canada Ltd., and Winnebago Industries Inc. are some of the major market participants. Although the increasing adoption of RVs will extend maximum growth opportunities, the complications associated with RV ownership will hamper the growth of the market. In a bid to help players strengthen their market foothold, this recreational vehicle (RV) market in North America forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Recreational Vehicle (RV) Market in North America 2020-2024: Segmentation

Recreational Vehicle (RV) Market in North America is segmented as below:

Product
- Towable RVs
- Motorized RVs
Geography
- US
- Rest Of North America

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Recreational Vehicle (RV) Market in North America 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The recreational vehicle (RV) market in North America report covers the following areas:

Recreational Vehicle (RV) Market in North America Size
Recreational Vehicle (RV) Market in North America Trends
Recreational Vehicle (RV) Market in North America Industry Analysis

This study identifies the Emergence of smart driver-assist systems as one of the prime reasons driving the Recreational Vehicle (RV) Market in North America growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Recreational Vehicle (RV) Market in North America 2020-2024: Key Highlights

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist the recreational vehicle (RV) market in North America growth during the next five years
Estimation of the recreational vehicle (RV) market in North America size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the recreational vehicle (RV) market in North America
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of the recreational vehicle (RV) market in North American vendors

Table of Contents:

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
The threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

Market Segmentation by Product

Market segments
Comparison by Product
Towable RVs - Market size and forecast 2019-2024
Motorized RVs - Market size and forecast 2019-2024
Market opportunity by Product

Customer landscape

Customer landscape

Geographic Landscape

Geographic segmentation
Geographic comparison
US - Market size and forecast 2019-2024
Rest of North America - Market size and forecast 2019-2024
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Overview
Landscape disruption

Vendor Analysis

Vendors covered
Market positioning of vendors
Berkshire Hathaway Inc.
Gulf Stream Coach Inc.
Nexus RV
Northwood Manufacturing Inc.
Pleasure-Way Industries Ltd.
REV Group Inc.
Thor Industries Inc.
Tiffin Motorhomes Inc.
Triple E Canada Ltd.
Winnebago Industries Inc.

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations