Global Motorhome Market is valued at USD 9.58 Billion in 2021 and is expected to reach USD 13.14 Billion by 2028 with a CAGR of 4.6% over the forecast period.
The rise in the amount of campgrounds in the nation shows the rising inclination with motorhomes for recreational. The rise in the acceptance rate of motorhomes by the teen generation, rise of motorhomes with technical developments, and a strong economy are predicted to significantly add to the development of the market during the coming period. Recreational vehicles are meant for impermanent living quarters for recreational, outdoors, occasional, or travel use, and ordered into 2 major types, for instance, towable and motorhomes. Motorhomes are used for get-away cases as well as normally used crosswise over various exercises such as shows, celebrations, and multi-day occasions. Motorhomes have an extra favored position of reducing excursion costs as compared to other normal get-away exercises. The earlier mentioned benefits have been powering an increasing interest for motorhomes recently and this is most likely going to sustain during the coming period.
Motorhome Market is divided by types into Class A, Class B, Class B, and Class C. The global motorhome market is divided by application into leisure activities and business traveler.
The major players included in the global motorhome market forecast are
The rise in the number of campgrounds in the nation shows the rising inclination with motorhomes for recreational travel. Hence, to meet the increasing requirement for motorhomes, the US has over 230 local motorhome dealers and chain outlets engaged in the motorhomes trading. These dealers offer not only a series of modern motorhomes but also the second-hand newest-model-year motorhome units favored by most fleet managers.
The rise in the acceptance rate of motorhomes by the teen generation, rise of motorhomes with technical developments, and a strong economy are predicted to significantly add to the development of the market during the coming period. In addition to this, sellers are offering lucrative benefits and deals not just on new motorhome devices, but also on older units, along with simple financing abilities for qualified users.
North America had a huge share of over 50% of the global motorhome market and is claimed to maintain the place, due to the rising number of households having motorhomes (a majority controlled by millennials) and the increasing requirement for a motorhome rental. On the other hand, due to the increase in the making cost for RV makers, RV dealers are regulating their inventories owing to alterations in inventory carrying prices, thereby leading to a drop in the sales of RVs.
The US is the manufacturing center of RVs all over the world. As per a study powered by the Recreation Vehicle Industry Association, the ownership of RVs in US is elevating at a quick speed. As per the RVIA, the entire RV shipments clocked almost 504,599 units in the US, with almost 18% rise, out of which, 62.64 thousand shipments were of motorhomes, adding just 12% of the entire shipments for RV, due to its expensive cost. The cost of a normal class A motorhome lies between USD 60,000–500,000, while that of class C and class B varies from USD 40,000–150,000.
Motorhomes are being broadly employed in the nation, not only for vacation traveling, but also for traveling with pets, tailgating, as a preferred mode of transportation in outdoor sports, for business, and other activities. As per the KOA (Kampgrounds of America), the nation in 2017 experienced an elevating of 2.6 million new users, where almost a quarter of all users used an RV as their major camping.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 9.58 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||4.6%|
|Market Size Expected in 2028:||USD 13.14 Billion|
|Tables, Charts & Figures:||175|
|Motorhome Manufacturers||Winnebago Industries, Inc., Thor Industries, Inc., Forest River, Inc., Tiffin Motorhomes Inc.|
|Segments Covered||By Type, By End-user|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|