LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the recreational vehicle (RV) market in North America is expected to accelerate at a CAGR of over 8% during the forecast period. The substantial cost savings by using RVs over conventional modes of vacation is one of the key factors triggering the growth of the market.
This research report titled ‘Recreational Vehicle Market in North America 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the recreational vehicle market in North America into the following geographical regions:
- Rest of North America
In 2017, the US accounted for 91.07% of the global market and is projected to decline to 89.96% by 2022, exhibiting almost 1.11% decrease in market share.
Recreational vehicle market in North America: Top emerging trend
Installation of solar technology in RVs is an emerging trend in the recreational vehicle space. Conventionally, the engines of RVs or external generators were used to power electrical appliances fitted in RVs. But, these power sources were not economical and environment-friendly as they would require fossil fuels and contribute to air and noise pollution, thereby leading to additional costs. Hence, solar energy is a safe alternative to fossil fuels such as gasoline for the generation of electricity.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Recreational Vehicle Market in North America Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (US and rest of North America)
- Market segmentation by RV type (towable RVs and motorized RVs)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Camping World Holdings, Forest River, Gulf Stream Coach, Northwood Manufacturing, REV Group, THOR INDUSTRIES, Winnebago Industries)
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