The motorhome vehicle market size has grown strongly in recent years. It will grow from $33.16 billion in 2023 to $36.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The expansion observed in the historical period can be ascribed to factors such as the retirement of the baby boomer generation, a growing desire for freedom and flexibility, increased disposable income, the popularity of camping and outdoor lifestyles, and the development of RV parks and infrastructure.
The motorhome vehicle market size is expected to see strong growth in the next few years. It will grow to $49.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated expansion in the forecast period can be credited to environmental consciousness, the upsurge in adventure tourism, the incorporation of smart and connected features, a preference for shorter weekend getaways, and the influence of the sharing economy. Key trends expected in this period encompass innovative design and the use of lightweight materials, the prevalence of digital nomadism, ongoing technological advancements, the integration of luxury and high-end features, and the incorporation of autonomous driving technology.
The anticipated growth in the motorhome vehicle market is expected to be propelled by the rise in the global tourism industry. The tourism industry encompasses all businesses directly providing products or services to support activities related to business, pleasure, and leisure outside the home. Motorhomes serve as mobile accommodations, enabling travelers to stay in convenient and pleasant locations while on the road. For example, in August 2022, the World Travel and Tourism Council reported a $1 trillion increase (+21.7% growth) in the GDP contribution of the global travel and tourism sector in 2021, reaching $5.8 trillion. The sector's share of the overall economy also rose to 6.1% in 2021, and global travel and tourism jobs increased by 18.2 million to 289.5 million. Consequently, the surge in the global tourism industry is a driving force behind the growth of the motorhome vehicle market.
The increasing prevalence of outdoor recreational activities is expected to contribute to the growth of the motorhome vehicle market. Outdoor recreational activities involve leisure and entertainment pursuits in natural outdoor environments. Motorhomes offer flexibility for travel to different outdoor destinations, convenience, access to remote locations, spontaneous decision-making, cost-efficient accommodation options, a sense of independence, and a lower environmental impact, promoting a more sustainable and eco-friendly way of traveling. For instance, in January 2022, the Outdoor Industry Association reported a 2.2% increase in the number of people participating in outdoor recreation in 2021, reaching 164.2 million. Therefore, the growth of outdoor recreational activities is a key driver behind the expansion of the motorhome vehicle market.
The motorhome vehicle market is witnessing a significant trend with the introduction of product innovations. Major companies in the motorhome market are incorporating advanced technologies to maintain their market positions. For example, in March 2023, Grounded, a US-based automotive company, unveiled the Grounded 1 electric RV, marking the world's first smart and customizable electric recreational vehicle. Built on Ford's E-Transit platform, the G1 boasts a range of up to 108 miles, delivering a smooth ride and handling. Its spacious interior includes amenities such as a pull-out table, bench seating, a kitchen equipped with a sink, refrigerator/freezer, and an induction cooktop. Furthermore, the integration of 650 watts of solar electricity enhances appliance functionality and contributes to the powertrain's charge.
Major companies in the motorhome vehicle market are concentrating on the development of innovative technologies, such as advanced material technology for the automated production of caravans, to drive market revenues. Advanced material technology for automated caravan production involves the use of automated or robotic systems in the manufacturing process of caravans, designed for travel and recreation. In July 2022, Knaus Tabbert AG, a Germany-based company specializing in caravan and motorhome manufacturing, introduced seal healing fiber frame technology. This technology streamlines the production process while enhancing the structural integrity of caravans. The automated production method is expected to enhance accuracy and efficiency, resulting in high-quality and consistently manufactured caravans. The fiber frame components are automatically bonded to create a solid frame, eliminating the need for manual assembly. This innovation enhances the value, stability, and sustainability of vehicles, making them more durable and stable.
In September 2023, MBH Corporation plc, a UK-based investment holding company, acquired Lincoln Leisure Vehicles Limited and Golden Castle Caravans Limited, aiming to expand its leisure vertical business line. Lincoln Leisure Vehicles Limited, a UK-based company, specializes in manufacturing motorhomes, while Golden Castle Caravans Limited, also UK-based, focuses on the automotive industry, particularly caravans and motorhomes. This acquisition aligns with MBH Corporation's strategy of acquiring profitable small- to medium-sized businesses across diverse industries and locations, fostering growth and development in the leisure sector.
Major companies operating in the motorhome vehicle market report are Thor Industries Inc., Forest River Inc., Winnebago Industries Inc., REV Group Inc., Fleetwood RV Inc., Jayco Inc., Knaus Tabbert GmbH, Tiffin Motorhomes Inc., Newmar Corporation, Heartland Recreational Vehicles LLC, Gulf Stream Coach Inc., Hobby-Wohnwagenwerk Ing, Airstream Inc., Carthago Reisemobilbau GmbH, Dethleffs GmbH & Co KG, Holiday Rambler Corporation, Adria Mobil Doo, Hymer GmbH & Co KG, Monaco Coach Corporation, Coachmen Recreational Vehicle Company LLC, Niesmann + Bischoff GmbH, Triple E Recreational Vehicles, Renegade RV, Bürstner GmbH & Co KG, Midwest Automotive Designs LLC, Pleasure-Way Industries Ltd., Entegra Coach, American Coach, Rapido Motorhomes SA, Nexus RV LLC.
North America was the largest region in the motorhome vehicle market in 2023. The regions covered in the motorhome vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the motorhome vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary categories of motorhomes include type A, type B, and type C. Type A encompasses self-propelled motorhomes equipped with either diesel or gas engines. These motorhomes come in various classes, including entry-level, mid-range, and luxury models, catering to both personal and commercial use. The end users of these motorhomes include fleet owners and direct buyers.
The motorhome vehicle market research report is one of a series of new reports that provides motorhome vehicle market statistics, including motorhome vehicle industry global market size, regional shares, competitors with a motorhome vehicle market share, detailed motorhome vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the motorhome vehicle industry. This motorhome vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The motorhome vehicle market consists of sales of camping vehicle and luxury traveling vehicle. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The motorhome vehicle market size is expected to see strong growth in the next few years. It will grow to $49.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated expansion in the forecast period can be credited to environmental consciousness, the upsurge in adventure tourism, the incorporation of smart and connected features, a preference for shorter weekend getaways, and the influence of the sharing economy. Key trends expected in this period encompass innovative design and the use of lightweight materials, the prevalence of digital nomadism, ongoing technological advancements, the integration of luxury and high-end features, and the incorporation of autonomous driving technology.
The anticipated growth in the motorhome vehicle market is expected to be propelled by the rise in the global tourism industry. The tourism industry encompasses all businesses directly providing products or services to support activities related to business, pleasure, and leisure outside the home. Motorhomes serve as mobile accommodations, enabling travelers to stay in convenient and pleasant locations while on the road. For example, in August 2022, the World Travel and Tourism Council reported a $1 trillion increase (+21.7% growth) in the GDP contribution of the global travel and tourism sector in 2021, reaching $5.8 trillion. The sector's share of the overall economy also rose to 6.1% in 2021, and global travel and tourism jobs increased by 18.2 million to 289.5 million. Consequently, the surge in the global tourism industry is a driving force behind the growth of the motorhome vehicle market.
The increasing prevalence of outdoor recreational activities is expected to contribute to the growth of the motorhome vehicle market. Outdoor recreational activities involve leisure and entertainment pursuits in natural outdoor environments. Motorhomes offer flexibility for travel to different outdoor destinations, convenience, access to remote locations, spontaneous decision-making, cost-efficient accommodation options, a sense of independence, and a lower environmental impact, promoting a more sustainable and eco-friendly way of traveling. For instance, in January 2022, the Outdoor Industry Association reported a 2.2% increase in the number of people participating in outdoor recreation in 2021, reaching 164.2 million. Therefore, the growth of outdoor recreational activities is a key driver behind the expansion of the motorhome vehicle market.
The motorhome vehicle market is witnessing a significant trend with the introduction of product innovations. Major companies in the motorhome market are incorporating advanced technologies to maintain their market positions. For example, in March 2023, Grounded, a US-based automotive company, unveiled the Grounded 1 electric RV, marking the world's first smart and customizable electric recreational vehicle. Built on Ford's E-Transit platform, the G1 boasts a range of up to 108 miles, delivering a smooth ride and handling. Its spacious interior includes amenities such as a pull-out table, bench seating, a kitchen equipped with a sink, refrigerator/freezer, and an induction cooktop. Furthermore, the integration of 650 watts of solar electricity enhances appliance functionality and contributes to the powertrain's charge.
Major companies in the motorhome vehicle market are concentrating on the development of innovative technologies, such as advanced material technology for the automated production of caravans, to drive market revenues. Advanced material technology for automated caravan production involves the use of automated or robotic systems in the manufacturing process of caravans, designed for travel and recreation. In July 2022, Knaus Tabbert AG, a Germany-based company specializing in caravan and motorhome manufacturing, introduced seal healing fiber frame technology. This technology streamlines the production process while enhancing the structural integrity of caravans. The automated production method is expected to enhance accuracy and efficiency, resulting in high-quality and consistently manufactured caravans. The fiber frame components are automatically bonded to create a solid frame, eliminating the need for manual assembly. This innovation enhances the value, stability, and sustainability of vehicles, making them more durable and stable.
In September 2023, MBH Corporation plc, a UK-based investment holding company, acquired Lincoln Leisure Vehicles Limited and Golden Castle Caravans Limited, aiming to expand its leisure vertical business line. Lincoln Leisure Vehicles Limited, a UK-based company, specializes in manufacturing motorhomes, while Golden Castle Caravans Limited, also UK-based, focuses on the automotive industry, particularly caravans and motorhomes. This acquisition aligns with MBH Corporation's strategy of acquiring profitable small- to medium-sized businesses across diverse industries and locations, fostering growth and development in the leisure sector.
Major companies operating in the motorhome vehicle market report are Thor Industries Inc., Forest River Inc., Winnebago Industries Inc., REV Group Inc., Fleetwood RV Inc., Jayco Inc., Knaus Tabbert GmbH, Tiffin Motorhomes Inc., Newmar Corporation, Heartland Recreational Vehicles LLC, Gulf Stream Coach Inc., Hobby-Wohnwagenwerk Ing, Airstream Inc., Carthago Reisemobilbau GmbH, Dethleffs GmbH & Co KG, Holiday Rambler Corporation, Adria Mobil Doo, Hymer GmbH & Co KG, Monaco Coach Corporation, Coachmen Recreational Vehicle Company LLC, Niesmann + Bischoff GmbH, Triple E Recreational Vehicles, Renegade RV, Bürstner GmbH & Co KG, Midwest Automotive Designs LLC, Pleasure-Way Industries Ltd., Entegra Coach, American Coach, Rapido Motorhomes SA, Nexus RV LLC.
North America was the largest region in the motorhome vehicle market in 2023. The regions covered in the motorhome vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the motorhome vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary categories of motorhomes include type A, type B, and type C. Type A encompasses self-propelled motorhomes equipped with either diesel or gas engines. These motorhomes come in various classes, including entry-level, mid-range, and luxury models, catering to both personal and commercial use. The end users of these motorhomes include fleet owners and direct buyers.
The motorhome vehicle market research report is one of a series of new reports that provides motorhome vehicle market statistics, including motorhome vehicle industry global market size, regional shares, competitors with a motorhome vehicle market share, detailed motorhome vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the motorhome vehicle industry. This motorhome vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The motorhome vehicle market consists of sales of camping vehicle and luxury traveling vehicle. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Motorhome Vehicle Market Characteristics3. Motorhome Vehicle Market Trends and Strategies32. Global Motorhome Vehicle Market Competitive Benchmarking33. Global Motorhome Vehicle Market Competitive Dashboard34. Key Mergers and Acquisitions in the Motorhome Vehicle Market
4. Motorhome Vehicle Market - Macro Economic Scenario
5. Global Motorhome Vehicle Market Size and Growth
6. Motorhome Vehicle Market Segmentation
7. Motorhome Vehicle Market Regional and Country Analysis
8. Asia-Pacific Motorhome Vehicle Market
9. China Motorhome Vehicle Market
10. India Motorhome Vehicle Market
11. Japan Motorhome Vehicle Market
12. Australia Motorhome Vehicle Market
13. Indonesia Motorhome Vehicle Market
14. South Korea Motorhome Vehicle Market
15. Western Europe Motorhome Vehicle Market
16. UK Motorhome Vehicle Market
17. Germany Motorhome Vehicle Market
18. France Motorhome Vehicle Market
19. Italy Motorhome Vehicle Market
20. Spain Motorhome Vehicle Market
21. Eastern Europe Motorhome Vehicle Market
22. Russia Motorhome Vehicle Market
23. North America Motorhome Vehicle Market
24. USA Motorhome Vehicle Market
25. Canada Motorhome Vehicle Market
26. South America Motorhome Vehicle Market
27. Brazil Motorhome Vehicle Market
28. Middle East Motorhome Vehicle Market
29. Africa Motorhome Vehicle Market
30. Motorhome Vehicle Market Competitive Landscape and Company Profiles
31. Motorhome Vehicle Market Other Major and Innovative Companies
35. Motorhome Vehicle Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Motorhome Vehicle Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on motorhome vehicle market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for motorhome vehicle? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Type A; Type B; Type C
2) By Class: Entry-Level; Mid-Range; Luxury
3) By Application: Personal; Commercial
4) By End-user: Fleet Owners; Direct Buyers
Key Companies Mentioned: Thor Industries Inc.; Forest River Inc.; Winnebago Industries Inc.; REV Group Inc.; Fleetwood RV Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Thor Industries Inc.
- Forest River Inc.
- Winnebago Industries Inc.
- REV Group Inc.
- Fleetwood RV Inc.
- Jayco Inc.
- Knaus Tabbert GmbH
- Tiffin Motorhomes Inc.
- Newmar Corporation
- Heartland Recreational Vehicles LLC
- Gulf Stream Coach Inc.
- Hobby-Wohnwagenwerk Ing
- Airstream Inc.
- Carthago Reisemobilbau GmbH
- Dethleffs GmbH & Co KG
- Holiday Rambler Corporation
- Adria Mobil Doo
- Hymer GmbH & Co KG
- Monaco Coach Corporation
- Coachmen Recreational Vehicle Company LLC
- Niesmann + Bischoff GmbH
- Triple E Recreational Vehicles
- Renegade RV
- Bürstner GmbH & Co KG
- Midwest Automotive Designs LLC
- Pleasure-Way Industries Ltd.
- Entegra Coach
- American Coach
- Rapido Motorhomes SA
- Nexus RV LLC.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 36.13 Billion |
| Forecasted Market Value ( USD | $ 49.46 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
