Motorhome Global Market Report 2023
Major players in the motorhome market are Gulf Stream Coach Inc., Palomino RV, Northwood Manufacturing Inc, Thor Industries Inc., Coachmen RV, Winnebago Industries Inc., Dethleffs GmbH & Co. KG, Hymer GmbH & Co.
New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Motorhome Global Market Report 2023" - https://www.reportlinker.com/p06466557/?utm_source=GNW
KG, Forest River Inc., Eclipse Motorhomes Inc., ALOIS KOBER GMBH, Aliner, Allied Recreation Group Inc, Augusta RV, Cruiser RV, Dna Enterprises Inc., Rapido Motorhomes, The Swift Group, Bürstner GmbH & Co. KG, Grand Design RV LLC, and Forks RV Inc.
The global motorhomes market is expected to grow from $19.25 billion in 2022 to $20.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.09%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motorhomes market is expected to reach $26.65 billion in 2027 at a CAGR of 6.88%.
The motorhomes market consists of sales of tag-axel motorhomes, micro motorhomes, overcab beds class c coachbuild motorhomes, low profile coachbuilt motorhomes, hightop campervans, fixed-roof campervans, rising roof campervans, and panel van conversions.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.
A motorhome refers to an autonomous leisure vehicle with the amenities of a home, such as a dining area, sleeping arrangements, storage spaces, restrooms, and a driving cab with a driver and passenger seat in the front of the vehicle. It is used for traveling in the wild, camping, exploring new places, and visiting outdoor locations and can accommodate two to eight people.
North America was the largest region in the motorhomes market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of motorhomes by the model are class A, class B, and class C.Class A motorhomes are a type of vehicle that is typically built on a truck or shuttle chassis, but the chassis is very often specially designed and can accommodate a maximum of ten people and have numerous luxury living areas and characteristics, such as sofas, private rooms, beds, dining rooms, and large restrooms and it is used to provide travelers with extra space, deluxe and luxurious facilities for travel comfort.
Major applications are leisure activities and business activities and are used by fleet owners and direct owners.
Increasing travel and tourism is expected to propel the growth of the motorhome market going forward.The tourism industry refers to a type of industry that involves people who travel for either personal or professional reasons, spend at least one night in their desired location, and then come back.
Travelers commonly use motorhomes as vacation vehicles because they allow tourists to sleep, cook and relax inside the vehicle while traveling with all the luxuries of home and make traveling comfortable.For instance, in 2021, according to a report issued by the World Travel and Tourism Council (WTTC), a UK-based forum for the travel and tourism industry, the travel and tourism industry rates in the United States have improved dramatically throughout, and the sector is expected to approach pre-pandemic levels by 2022.
Travel and tourism in the United States increased by 35.6% in 2021, totalling $393 billion. Therefore, the increase in the travel and tourism industry is driving the growth of the motorhome market.
Product innovations have emerged as the key trend gaining popularity in the motorhome market.Major companies operating in the motorhomes market are focused on innovative products to strengthen their position in the market.
For instance, in March 2023, Entegra Coach, a US-based motor vehicle company that manufactures a range of recreational vehicles and motorhomes, launched a Class B motorhome for off-the-grid locales.Entegra Coach’s Class B motorhome’s latest launch seeks to add a touch of luxury for the journey.
Each vehicle is constructed on a Sprinter 4X4 Premium Mercedes-Benz® chassis, has E-Z DriveTM technology for a smooth and bump-free ride, and is powerful enough to propel up and down on steep inclines with ease.
In December 2020, Thor Industries, a US-based manufacturer of recreational vehicles, acquired Tiffin Motorhomes for $300 million.Through this acquisition, Thor Industries continues its steady development in the motorhome market while allowing Bob Tiffin and the Tiffin family to maintain control and involvement in the business.
Tiffin Motorhomes is a US-based manufacturer of motorhomes.
The countries covered in the motorhome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The motorhomes market research report is one of a series of new reports that provides motorhomes market statistics, including motorhomes industry global market size, regional shares, competitors with a motorhomes market share, detailed motorhomes market segments, market trends, and opportunities, and any further data you may need to thrive in the motorhomes industry. This motorhomes 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.
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