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This new Marketdata study examines the $48 billion U.S. recreational vehicle industry and its three components: RV Manufacturers, RV Retail Dealers, and RV Parks & Campgrounds. The industry posted record revenues and shipments in 2021 during the Covid-19 pandemic, as consumers sought ways to vacation safely. This was a major turning point and stimulus for the industry, as a new and younger demographic was introduced to the RV lifestyle.
However, this pace was not sustainable and RV shipments and sales began to decline in 2022. This decline continues into 2023, as RV prices and demand fall, but this is being mitigated by as customers are now pursuing RV rentals, used vehicles, and RV sharing. The industry is susceptible to boom and bust cycles, as RVs are discretionary purchases that can be postponed or cancelled. The outlook over the next four years is good, as RV parks grow in number.
This new analysis includes: dollar value & growth of the market from 1980s to 2020, 2021-2022 estimates, 2023 and 2027 outlook and forecasts, market structure, key economic operating metrics of RV producers, RV dealers and RV parks & campgrounds (top 50 market share, single vs. multi-unit firms, ratios by company size, establishment size, state market potentials), effects of the Covid-19 pandemic on operations and sales, customer demographics, major industry trends, and findings of industry surveys by the RVIA, Wiinebago, and other parties.
Contains in-depth competitor profiles and revenues of the largest players in the field: Thor Industries, Winnebago, Forest River Inc., Kamgrounds of America. Lazy Days, and Camping World Holdings.
Table of Contents
Introduction & Scope of the Study
- Information sources and methodology used
Nature of the Industry
- Definition and 3 industry segments: RV manufacturers, dealers, RV Parks: no. of operators, industry centered in Indiana, boom & bust cycles
- Towable RVs vs. motorhomes
- Customer Demographics: profiles of Baby Boomer, Gen X, Millennials, age and Income of RV buyers, usages, buyer metrics
- RV Destination and Use Statistics: miles drive, national parks, preferences, etc.
- 10 most visited Parks & national parks in 2019
- Key Industry Statistics: number of existing and new chiropractors, education, no. of Americans treated by DCs, etc.
- Major Industry trends: Falling sales off peak year, permanent RV living, RV sharing, RV sizes, increased competition, privatizing state parks, environmental concerns.
Industry Size, Growth, Forecasts
- Summary: Various sources for estimates of industry $ size, Marketdata rationale for industry revenues (RV dealer sales, RV parks & campgrounds), Census data, short and long-term industry revenue growth
- Discussion & analysis of historical growth trends, during last recession, recovery since then, current situation, rationale
- 2020 Performance: Effects of The Pandemic: Analysis & discussion, BLS payroll data, Marketdata estimate of industry receipts
- 2021 Performance: Discussion of effects of the pandemic (new cohort of customers who want to work remotely, industry shift, demand spike
- 2022 Performance: Analysis, demand still strong but down from peak levels, registrations and revenues decline, rentals market emerges
- 2023 Outlook: Analysis & discussion: possible recession, high interest rates, RV prices falling, positive/negative factors, outdoor camping activities increasing (Winnebago consumer survey results), Key Findings of 2023 North American Camping & Outdoor Hospitality Report
- 2027 Forecast: Long-term outlook: Analysis & discussion, demand factors, Marketdata estimate of industry receipts.
- Discussion of major factors affecting industry growth.
- Recreational Vehicle Sales, By Type - key metrics
Tables:
- The Total U.S. RV Market: RV Dealer revenues, RV Parks revenues, total: 2007-2022, year by year, 2023 & 2027 Forecast
- RV Manufacturer Unit Shipments: 1985-2023 F
- RV Manufacturer Shipments Value: 2008-2016
- RV Shipments Mix: Towables vs Motorhomes: 2000-2022
- Chart: Wholesale shipments of motorhomes: 2007-2019
Industry Economic Structure & Operating Ratios
RV Manufacturers Segment
- Industry definition and main products, towables vs. motorhomes
- Industry size & growth: discussion of factors affecting demand, seasonality, cycles
- Covid-19 pandemic effects on the industry in 2020-2022, RVIA shipments data, outlook
- Industry Trends - 2022: discussion of inflation, supply chain shortages, pricing, mark-ups, RVs as an economic bellweather
Tables:
- U.S. RV Shipments: 1990-2022, annual percent changes
- State RV Shipments % of national share
- Key Industry Metrics: sales, payroll, production worker wages, inventories, materials costs - 2018-2021
Major Competitor Profiles
(Company description, history product lines/brands, historical/current revenues, 2022 performance, recent developments, management outlook and opinions)
- Winnebago Industries
- THOR Industries, Inc.
- REV Recreation Group
- Forest River Inc.
RV Dealers Segment
- Discussion & Analyses
- Summary of key industry metrics, NAICS code for the industry
- Number of establishments in 2020
- Industry snapshot: 2007, 2012, 2017, 2020: no. of estabs., receipts, employees
- Labor costs & productivity, sales/payroll ratios: 2007, 2012, 2017, 2020
- Avg. receipts per establishment: 2007, 2012, 2017, 2020
- Avg. receipts, avg. payroll, avg. no employees: 2007, 2012, 2017, 2020
Tables:
Industry ratios (no. of firms, establishments, receipts, payroll as % receipts for 2017) by:
- Legal form of organization -corporations, sole proprietorships, partnerships: no. of employees).
- Single Unit vs. Multi-unit firms
- Ratios by receipts size of firms
- Average revenue size of firms
- Ratios, by revenue size of establishments
- Concentration Ratios: ratios for top 4, 8, 20, 50 largest firms
- Receipts size of establishments (under $100,000 to $10 mill.)
- No. of establishments, receipts & avg. receipts per estab., alpha by state: 2020
Major Competitor Profiles
(Company description, history product lines/brands, historical/current revenues, 2022 performance, recent developments, management outlook and opinions)
- Lazy Days
- Camping World Holdings
RV Parks & Campgrounds Segment
- Discussion & Analyses
- Summary of key industry metrics, NAICS code for the industry
- Number of establishments in 2020
- Industry snapshot: 2007, 2012, 2017, 2020: no. of estabs., receipts, employees
- Labor costs & productivity, sales/payroll ratios: 2007, 2012, 2017, 2020
- Avg. receipts per establishment: 2007, 2012, 2017, 2020
- Avg. receipts, avg. payroll, avg. no employees: 2007, 2012, 2017, 2020
Tables:
Industry ratios (no. of firms, establishments, receipts, payroll as % receipts for 2017) by:
- Legal form of organization -corporations, sole proprietorships, partnerships: no. of employees).
- Single Unit vs. Multi-unit firms
- Ratios by receipts size of firms
- Average revenue size of firms
- Ratios, by revenue size of establishments
- Concentration Ratios: ratios for top 4, 8, 20, 50 largest firms
- Receipts size of establishments (under $100,000 to $10 mill.)
- No. of establishments, receipts & avg. receipts per estab., alpha by state: 2020
Major Competitor Profiles
(Company description, history product lines/brands, historical/current revenues, 2022 performance, recent developments, management outlook and opinions)
- Kampgrounds of America
Reference Directory
- List of RV industry trade associations, journals, special industry reports, websites, other key contacts - address & phones
Companies Mentioned
- Camping World Holdings
- Forest River Inc.
- Kamgrounds of America
- Lazy Days
- Thor Industries
- Winnebago
Methodology
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