The European motor home market is expected to register a CAGR of over 7%, during the forecast period (2020 - 2025).
Key Highlights
- Motorhomes are not only used for vacation activities but are also widely used across various activities like the festival, concerts, and multi-day events. Motor homes have an added advantage of reducing vacation costs by an average of 55% over other conventional vacation activities.
- Incorporation of advanced technology for reducing carbon emissions and improve the fuel efficiency of the RVs. Electrification and installation of portable solar panels for motor homes are the major innovation areas for the companies to invest in. Now small functions such as lighting and heating in the camper can be possible with mobile applications.
- The increasing demand for adventure camping and camping grounds in Europe and initiatives from governments and the promotion of motor home tourism is expected to support the growth of the motorhome market during the forecast period.
Key Market Trends
Growing Electric Motor Homes
Electrification has paved its way in the motor home, due to advancements in the battery and electric drive technologies now many conventional motor home manufacturers are developing electric motor homes and launching new electric models of motor homes. For instance,
In 2019, WOF launches its second-generation Iridiummotor homes with electric drives at the Caravan Salon Düsseldorf (CSD), Company has increased the range of these vehicles by more than 30% around 400 km.
Similarly, Vanliferhas showcased a Tesla electric motorhome concept, named as Semi electric motorhome. It has a six-berth full kitchen, living space, toilet along with all the other amenities of luxury motorhomes.
In another case, Winnebago Industries, Inc. which has launched an all-electric RV with Motiv in 2018 is being adopted by many mobile blood banks, lung units, and even a mobile book library. Winnebago has made a USD 60 million investment in Motiv Power Systems, which has manufactured the vehicle electric powertrain.
Whereas, many new players have started entering into the electric motorhome market. For instance, Nissan has launched an electric campervan based on its e-NV200 van model in Spain in July 2018.
Germany is anticipated to hold major share in the Market
According to the European Caravan Federation in 2019 around 53.922 new motors caravans were registered, which is 15%more than the previous year. With a total of 131,758 new registrations across Europe. According to Caravaning Industry Association the German caravanning industry in 2019, have recorded account €11.7 billion which is 3.9% as compared to last year.
A motor home is a popular form of recreation activity in the country but it is not accessible for every person, as this problem is supposed to hinder the market growth in the future. But many startups have grabbed this opportunity and solved the problem of enjoying the motorhome experience without owning it, in the form of a motorhome rental. As, these rental firms provide the facility of comparing various motorhomes, which is providing a good option for occasional customers. Through this platform, the motorhome owners can provide their unused motorhomes for renting which creates a new revenue source for them. Platforms such as Yescapa, Campanda, Drm provide all the variety of motorhomes, according to time, place, the duration for customers who are looking for motorhome rentals.
Competitive Landscape
The European motor home market is fragmented due to the presence of many local and global players such as Thor Industries Inc., Swift Group, and KnausTabbert GmbH amongst others. The market is transforming at a rapid pace and local companies are facing tough companies from the United States RV manufacturers such as Forest River Inc., Winnebago Industries, Inc., and Thor Industries Inc. As a result, many major American players are acquiring other companies to increase their market presence and diversifying their product portfolio. Also, companies are incorporating the latest technologies in their latest RV models to provide the best experience to the occupants. For instance,
- In 2019, Winnebago Industries, Inc. entered into an agreement to acquire Newmar Corporation. Newmar is one of the leading manufactures of premium Class A luxury and Super C motorhomes.
- In 2019, Thor Industries, Inc.announced that it has done the acquisition of Erwin Hymer Group (EHG). Through this acquisition, Thor will enter the European market. The combined entity will be the world's largest RV manufacturer.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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