Report Code: A10409 | Pages: NA | Jul 2023 | 2681 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Leisure Vehicles Market
Request Now !Leisure vehicles refer to mobile dwelling vehicles normally used for camping. Leisure vehicles range from utilitarian containing only sleeping quarters and basic cooking facilities to luxurious, with features such as air conditioners, water heaters, televisions, and satellite receptors. There are many benefits of owning and traveling in a leisure vehicle, such as flexibility, convenience, comfort, family appeal, affordability, appeal of outdoors and adaptability. The industry is attaining rise in traction among travel enthusiasts, owing to the convenience provided, in terms of recreation and temporary living amenities. The trend toward a more active lifestyle has increased the demand for leisure vehicles. Industry participants are also aggressively involved in introducing innovative technical features in their product portfolio to enhance the appeal of their vehicles. Rapid rise in demand for comfortable travel and accommodation of large passenger groups is expected fuel adoption of RVs across the globe.
COVID-19 scenario analysis:
Rise in demand for economical recreational tourism and increase in inclination for adoption of advancements in technology are expected to spur demand during the forecast period. However, high cost of purchase and maintenance of recreational vehicles is anticipated to hamper growth of the market. Furthermore, strategic developments for growth and rise in level of disposable income across the globe are expected to offer lucrative opportunities for the market during the forecast period.
The leisure vehicles market trends are as follows:
Rapid growth in demand for towable leisure vehicles can be credited to its low cost over motorized vehicles and absence of a built-in engine & powertrain. In addition, towable recreational vehicles allow customers to use an existing truck or a panel van to tow a trailer, significantly reducing on-road cost of vehicles. Furthermore, additional features contributing to their market demand include extra window awnings, rear bumper storage, and stainless- steel rock guards, which is expected to boost the market growth during the forecast period.
Rise in adoption of smartphones and other smart devices propels the market growth. Majority of drivers are reluctant toward adoption of keyless technology, owing to lack of knowledge and more importantly are worried about security of their vehicles. In addition, advanced technologies are being incorporated to decrease carbon emissions and improve fuel efficiency of leisure vehicles. Electrification and installation of portable solar panels for motorhomes and recreational vehicles are the major innovation areas for companies to invest in. As the system improves flexibility for consumers, the leisure vehicles market is expected to become more popular during the forecast period.
Key benefits of the report:
Questions answered in the leisure vehicles market research report:
Leisure Vehicles Market Report Highlights
Aspects | Details |
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By End-Use |
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Key Market Players | Airstream, Inc, Entegra Coach, Cruiser RV, Crossroads RV, Inc., Bison RV Center, DRV Luxury Suites, Erwin Hymer Group, Dutchmen RV, Fleetwood Corporation Limited, Columbia Northwest Inc |
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