DUBLIN--(BUSINESS WIRE)--The "Travel Trailer And Camper Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global travel trailer and camper market as it emerges from the COVID-19 shut down.
The global travel trailer and camper market is expected to grow from $78.74 billion in 2021 to $88.7 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The market is expected to grow to $137.13 billion in 2026 at a compound annual growth rate (CAGR) of 11.5%.
Companies Mentioned
- Thor Industries, Inc.
- REV Group, Gulf Stream Coach, Inc.
- Apollo Tourism & Leisure Ltd.
- Eclipse
- Recreational Vehicles Inc.
- Fleetwood Corporation Limited
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Major companies in the travel trailer and camper market include Thor Industries, Inc; REV Group, Gulf Stream Coach, Inc; Apollo Tourism & Leisure Ltd, Eclipse, Recreational Vehicles Inc, and Fleetwood Corporation Limited.
The travel trailer and camper market consist of sales of travel trailers and campers and related services by entities (organizations, sole traders, and partnerships) that produce travel trailers and campers designed to attach to motor vehicles, pick-up coaches (i.e., campers), and caps (i.e., covers) for mounting on a pick-up truck and/or produce an automobile, utility and light-truck trailers. Travel trailers do not have their motor but are designed to be towed by a motor unit, such as an automobile or a light truck.
The main types in the travel trailer and camper market are travel trailer and camper. Camper refers to a person who spends a day in a camp. The travel trailer and camper are used on-road and offroad.
Asia Pacific was the largest region in the travel trailer and camper market in 2020. North America was the second-largest region travel trailer and camper market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Advances in technology are expected to be a continued driver of travel trailer and camper market growth in the forecast period. The global travel trailer and camper industry have experienced many technological advances in the last decade and this trend is expected to intensify.
According to Forbes, the ten new features to expect in vehicles in 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the travel trailer and camper market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the travel trailer and camper market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components.
Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak harmed businesses throughout 2020 and into 2021. However, it is expected that the travel trailer and camper market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Travel trailer and camper manufacturers are increasingly installing solar panels in travel trailers for the creation of a sustainable environment. A travel trailer traditionally depends on the use of noisy generators for its functioning. Solar panels do not make noise and are ultra-portable, lightweight. Solar panels can be easily mounted on trailers and convert sunlight into power which can be used for the functioning of travel trailers. For instance, Renogy, Go Power and Zamp Solar are examples of companies manufacturing solar panels and related systems for travel trailers and campers.
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