North America Market Study of Recreational Vehicles: Canada Recreational Vehicles Market Anticipated to Expand 1.6X in Terms of Volume During 2016 – 2024


  • Report code : PMRREP3520 |
  • Industry : Automotive |
  • Published On : Jan-2017 |
  • Pages : 133 Pages |
  • Format :

A new report by Persistence Market Research titled “Recreational Vehicles Market: North America Industry Analysis and Forecast 2016 to 2024” analyzes the growth and performance of the North America recreational vehicles market over an eight year forecast period (2016 – 2024). This report has been crafted by analyzing the growth potential of recreational vehicles in the North America region. The report talks about different aspects of the North America recreational vehicles market and critically assesses the opportunities available for companies operating in the North America recreational vehicles market. The report also highlights several developments that are likely to shape the destiny of this market in the years to come.

Persistence Market Research analysts have incorporated all the key drivers, restraints and trends that are likely to influence the North America recreational vehicles market within the assessment period. After doing a detailed study on this regional market the analyst team has tabled the key market dynamics that are anticipated to impact the future and present climate of the North America recreational vehicles market. 

Report description

The report on the performance of the North America recreational vehicles market for the period 2016 – 2024 begins with an overview of the market followed by key definitions and an executive summary that gives a 360o view of the revenue forecast of the North America recreational vehicles market. The market taxonomy section dissects the North America recreational vehicles market into key market segments.

In the next section, the report analyzes key market dynamics and presents an independent analysis of various factors, challenges, and market trends that will define the market in the next few years. The following sections quantify the North America recreational vehicles market analysis by presenting data on the market size along with key performance metrics. The last section of the report studies the market performance of some of the top companies operating in the North America recreational vehicles market. The report profiles few of the leading market players and presents a detailed analysis of their overall business performance and a comprehensive evaluation of their short-term and long-term business and go-to-market strategies.

North America recreational vehicles market: Segmentation

By Exterior Construction Material

  • Wood
  • Aluminium
  • Fiberglass
  • Steel
  • Others

By Type

  • Motorhomes
    • Class A Motor Homes
      • Gasoline
      • Diesel
    • Class B Motor Homes
      • Gasoline
      • Diesel
    • Class C Motor Homes
      • Gasoline
      • Diesel
  • Travel Trailers & Campers
    • Conventional Travel Trailers
    • Fifth-wheel Travel Trailers
  • Camping Trailers
    • Folding Camping Trailer
    • Truck Camper

Country

  • U.S.
  • Canada

Research methodology

Persistence Market Research has carried out in-depth secondary research to ascertain the overall market size, top players in this industry, top products and top industry associations. The team of analysts has fetched some important information from the market by talking to the key market players operating in the North America recreational vehicles market. The obtained data is then sliced, diced and validated using the triangulation method and further scrutinized using advanced tools to obtain qualitative and quantitative insights into the North America recreational vehicles market.

Key metrics

The report on the North America recreational vehicles market encapsulates the key metrics that accurately describe the North America recreational vehicles market and uses this data to compare market performance across the various segments and regions. The nature of the global economy is very volatile and hence besides estimating the Compound Annual Growth Rate (CAGR) for this regional market, the report also analyzes the North America recreational vehicles market on the basis of growth parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities likely to emerge in the North America recreational vehicles market. Further, the report studies the different market segments by conducting a Basis Point Share (BPS) analysis to understand the relative contribution of individual segments to overall market growth. This detailed level of information is important to identify the many key trends governing the North America recreational vehicles market.

Another notable feature of this report is a revenue forecast analysis of the North America recreational vehicles market in terms of absolute dollar opportunity. While this is usually overlooked when forecasting the market, absolute dollar opportunity analysis is critical in assessing the level of opportunity that market providers can look to achieve and also to identify potential resources in the North America recreational vehicles market. Finally, to study the different market segments in terms of their growth and performance in the North America recreational vehicles market, Persistence Market Research has included a market attractiveness index to help leading market players identify current and future market opportunities across the North America recreational vehicles market.

Research summary

  • Yearly change in inflation rate has not been considered while forecasting market numbers
  • Top-down approach has been used to assess market numbers for each segment
  • Bottom-up approach has been used to counter-validate the reached numbers
  • Macro-economic indicators such as GDP, personal disposable incomes, demographic condition, consumer confidence, urbanization, and imports-exports have been considered to arrive at the indicated market numbers

The soaring recreational vehicles markets of U.S and Canada are expected to change the face of the North America recreational vehicles market in the forthcoming years

The North America recreational vehicles market is expected to expand at a value CAGR of 7.9% during the forecast period. The U.S. is the largest market for recreational vehicles and was estimated to hold more than 80% share of the market till 2016 end. The North America recreational vehicles market is estimated to cross US$ 26,100 Mn by the end of the assessment period. The market is also likely to showcase a considerable incremental dollar opportunity till the end of 2024. By volume, the North America recreational vehicles market is anticipated to register a CAGR of 5.8% and is likely to go above 583,000 units by the end of the foreseen period.

North America is nurturing a trend of becoming more eco-friendly, and when it comes to recreation, using eco-friendly recreational vehicles has become very popular in the region. Manufacturers are offering recreational vehicles with more fuel efficiency and improved design. Recent models of recreational vehicles are equipped with fuel-efficient diesel engines and lighter composites, which could improve the overall fuel efficiency and contribute to reduced emissions. The North America recreational vehicles market is slated to witness significant growth in the hybrid recreational vehicle segment. Hybrid models of recreational vehicles are the combination of diesel engines and batteries. Like hybrid cars, these recreational vehicles depend on battery power for slower driving, and both the diesel engine and battery for higher driving speeds.

The role of U.S and Canada in the growth of the North America recreational vehicles market

Over the next few years, U.S is expected to drive revenue growth of the North America recreational vehicles market. The Canada recreational vehicles market will also exhibit significant growth in the years to come. Canada will gain more than 15 BPS and is expected to hold more than 10% share of the North America recreational vehicles market till the end of the foreseen period. On the other hand, U.S might lose more than 10 BPS, but it will occupy more than 80% share of this regional market till the end of 2024. In terms of CAGR, Canada is more lucrative than the U.S. in the North America recreational vehicles market; however, the U.S. is a more attractive market in terms of market share owing to growing personal disposable income levels and tax relaxation.

north america recreational vehicle market

Segmental performance analysis of the U.S and Canada recreational vehicles market

U.S:

  • The motorhomes segment is expected to record more than 500 BPS in the U.S. recreational vehicles market between 2016 and 2024, accounting for more than 40% value share by the end of 2024. The motorhomes segment is estimated to register significant growth over the forecast period
  • In terms of volume, the motorhomes segment is estimated to cross 43,900 units by 2016 end and is expected soar beyond 77,200 units by 2024, exhibiting a volume CAGR of 7.3% over the forecast period
  • Travel trailers & campers segment revenue is expected to increase 1.7X by 2024 as compared to that in 2016
  • In terms of volume, the travel trailers & campers segment is estimated to reach 14,003 units by 2016 end and is expected to increase to 23,636 units by 2024, exhibiting a volume CAGR of 6.8% over the forecast period
  • The aluminum segment is expected to emerge as a relatively attractive segment by exterior construction material

Canada:

  • Travel trailers & campers segment is expected to emerge as a relatively attractive market in terms of value over the forecast period
  • The camping trailers segment is expected to lose more than 8 BPS in the Canada recreational vehicles market between 2016 and 2024
  • Motorhomes segment is anticipated to cross US$ 1,200 Mn by the end of 2024, registering a CAGR of 10.2% over the forecast period. This segment is expected to create incremental $ opportunity close to US$ 700 Mn between 2016 and 2024
  • Conventional travel trailers segment revenue is projected to increase 1.5X by 2024 as compared to that in 2016
  • The aluminum segment is expected to gain more than 70 BPS in the Canada recreational vehicles market between 2016 and 2024
  • The fiberglass segment is estimated to register significant growth over the forecast period

Company Profiles

  • Thor Industries, Inc.
  • Winnebago Industries, Inc.
  • Forest River, Inc.
  • REV Group, Inc.
  • Nexus RV LLC.
  • Triple E Recreational Vehicles
  • Tiffin Motorhomes, Inc.
  • Others.
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