The North America Recreational Vehicle Market, estimated at USD 23.66 Bn in 2025, is expected to exhibit a CAGR of 8.6% and reach USD 42.15 Bn by 2032.
The market growth is fueled by the increasing demand for intelligent, connected, and sustainable transportation solutions, along with shifting mobility trends and wider adoption across passenger and commercial segments. Innovations in vehicle connectivity, automation, and electrification, supported by strategic investments, are enhancing safety, efficiency, and user experience. Furthermore, favorable government policies, rapid infrastructure upgrades, and the push toward greener mobility are accelerating market expansion and unlocking new growth avenues for industry participants.
The North America recreational vehicle market, was valued for US$ 18.75 Bn in 2022 is expected to exhibit a CAGR of 8.6% during the forecast period (2022 to 2030).
Key Developments
- In August 2020, Kisae Technology Inc. , developer of power electronics products launched DC-DC battery charges for RV & van conversion
- In December 2020, Tiffin Motohomes Inc. recreational vehicle service provider acquired by Thor Industries, Inc., a manufacturer of recreational vehicles, in a deal worth US$ 300 Billion
North America Recreational Vehicle Market - Impact of Coronavirus (COVID-19)
The market is expected to witness growth due to the widespread availability of vehicle rental services, particularly in developing economies. This trend is expected to exert a positive influence on the market in the near future, aligning with changing consumer preferences and enhancing the overall market outlook. Moreover, supply chain disruptions and temporary closures impacted production and delivery schedules of automotive industry. while the pandemic posed challenges, it also highlighted the versatility and resilience of the RV and van conversion market. As a result, the industry experienced both constraints and opportunities, and thus reshaped the way people view travel and recreation in a post-pandemic world.
Furthermore, in 2020, the coronavirus outbreak impacted RV sales in Canada. The Canadian RV & camping council announced measures to advocate government officials and policymakers to include rv dealers, parks, and campgrounds to be deemed as essential services during the COVID-19 pandemic. According to Coherent Market Insights research analysis, pandemic situation will come under control in the coming years.
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Browse 150 market data tables* and 90 figures* on “North America Recreational Vehicle Market, - Global Forecast to 2030”
Key Trends and Analysis of the North America Recreational Vehicle Market:
- A rising trend in the RV market involves incorporating solar power systems into rvs, providing an innovative way to source and utilize energy. This environmentally conscious approach aims to reduce or eliminate the need for conventional generators. RVs equipped with solar power not only promote eco-friendly habits but also offer a sustainable answer to on-the-go energy requirements. By harnessing solar energy, these vehicles exemplify a progressive and green approach, demonstrating the industry's commitment to innovative and sustainable solutions that cater to both travelers' needs and the broader ecological considerations.
- The key players operating in the North America recreational vehicle market are Thor Industries, Inc., Tiffin Motorhomes, Inc., Winnebago Industries, Inc., Forest River, Inc., Jayco, Inc., Nexus RV LLC, REV Group, Inc., Starcraft RV, Inc., Heartland Recreational Vehicles, Airstream, Northwood Manufacturing, and Triple E Recreational Vehicles
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