The global motorhome vehicle market was valued at $29.3 billion in 2021, and is projected to reach $62.9 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
Motorhomes are self-propelled recreational vehicle which have their own engine and driving chassis. These are designed to serve as self-contained living quarters for recreational travel. Motorhomes are generally equipped with kitchen facilities, storage space and beds. In addition, these are categorized as per their types such as Type A, Type B, and Type C.
Personal motorhome vehicle is primarily designed to hold, carry or transport families or a small group of persons. These types of recreational vehicle are generally used for personal usage such outdoor recreational activities with families and others. It includes camper vans, truck campers, and others. Consumers across the globe are seeking for short trips and camping in recreational vehicles such as motorhomes as the lockdown restrictions have been lifted. Consumers are purchasing motorhome vehicle for their personal use such as to spend vacation with their family and others. This trend is expected to drive the growth of the personal motorhome vehicle market.
Commercial motorhome vehicle is utilized for camping purposes. Commercial motorhome vehicle is generally found near tourist routes and recreational vehicle parks or campgrounds. Commercial motorhome vehicles are gaining traction owing to rise in tourism industry across the globe. A large number of motorhome vehicle are utilized by the tourists and locals for camping purposes. Camping is the most popular outdoor recreational activity among the travelers who choose a compressed living area associated with several other luxurious facilities. This trend is expected to drive the growth of the segment.
The global motorhome vehicle market is experiencing growth due to changing outlook of the leisure & recreational activities, and rise in electrification activities. However, fluctuating prices of raw materials used for manufacturing of motorhome vehicles is the factor hampering the growth of the market. Furthermore, growing demand for technologically advanced recreational vehicles is the factor expected to offer growth opportunities during the forecast period.
The motorhome vehicle market is segmented on the basis of type, application, and region. By type, it is segmented into type A, type B, and type C. By application, it is fragmented into personal and commercial. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the motorhome vehicle market report comprises Airstream, Coachmen RV, Burstner GmbH & Co. KG, Entegra Coach, Forest River Inc, Gulfstream Coach Inc, Jayco Inc, Newmar Corporation, Hymer GmbH & Co. KG, Thor Industries Inc, Tiffin Motorhomes, and Winnebago Industries.
Changing outlook of the leisure and recreational activities
Leisure and recreational activities have been gaining traction in recent years across the globe as every individual is focusing toward the positive lifestyle for stress management. Weather situations, geopolitics situations and changes in consumer spending outlook are the key factors that support recreational activities across the globe. Moreover, citizens across the globe have focused toward living healthier lifestyles, which drives the growth of the active and outdoor recreation sector. According to Bureau of Economic Analysis, U.S. published data, the U.S. has witnessed outdoor recreation economy accounted for 2.1% ($459.8 billion) of gross domestic product (GDP) for the nation in 2019. The recreational activities are gaining momentum and it is expected to gain traction in the upcoming years. Recreational vehicles such as motorhome vehicles are widely used for recreational purposes across the globe. The changes in public lifestyle and rise in health concern is anticipated to support the growth of recreation activities in the recent years. The increase in recreational activities is expected to in turn support the growth of recreational vehicles, which in turn is expected to boost the growth of motorhome vehicle market during the forecast period.
Rise in electrification activities
Motorhome vehicle OEMs are relying on electrical components, owing to their output efficiency and lightweight; thus, making motorhome vehicle electrification a fuel economic solution. Furthermore, electrification is the future step, as majority of the manufacturers are integrating several components and features that operated through the battery input to cope up with green mobility requirements.
In addition, batteries are the significant part of the motorhome vehicle that supplies the electricity input to various electrical components required for effective functioning. Moreover, the price of battery is declining significantly. For instance, according to a research study published by Bloomberg New Energy Finance (BNEF) on the automotive battery, in 2010, the automotive battery price was $1,100 per Kwh, whereas it was $137 per Kwh in 2020. Moreover, these prices are expected to fall in a same momentum in the upcoming years. Thus, rise in electrification activities is expected to drive the growth of the motorhome vehicle market.
Fluctuating prices of raw materials used for manufacturing of motorhome vehicles
Fluctuating prices of raw materials such as aluminum, steel, and copper can negatively impact the revenue and profit margins of motorhome vehicle manufacturers. The fluctuation in the price can cause fluctuation in the supply of components for motorhome vehicles, which in turn is anticipated to result in incomplete fulfillment of demand for motorhome vehicles in the market. In addition, the increase in the price of components owing to fluctuating prices of raw materials force the motorhome vehicle manufacturer to increase the initial cost of motorhome vehicle, which impact the growth of the motorhome vehicle market. Thus, fluctuating prices of raw materials used for manufacturing of motorhome vehicle is a major factor that restrains the growth of the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the motorhome vehicle market analysis from 2021 to 2031 to identify the prevailing motorhome vehicle market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the motorhome vehicle market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global motorhome vehicle market trends, key players, market segments, application areas, and market growth strategies.
Motorhome Vehicle Market Report Highlights
Market Size By 2031
USD 62.9 billion
CAGR of 8.2%
2021 - 2031
Key Market Players
Jayco, Inc., Thor Industries, Inc., Airstream Inc, Bürstner GmbH & Co. KG, Hymer GmbH & Co. KG, Gulf Stream Coach Inc., Entegra Coach, Inc, Winnebago Industries, Inc., Coachmen Recreational Vehicle Company, LLC, Newmar Corporation, Forest River Inc., Tiffin Motorhomes Inc.
The global motorhome vehicle market is expected to witness significant growth due to changing outlook of the leisure & recreational activities, and rise in electrification activities.
Consumers in the market are demanding recreational vehicles with incorporation of advanced technologies with wireless systems. In addition, demand for recreational vehicles with the integration of novel design and technologies by young generation has been observed. Moreover, several recreational vehicle manufacturers are focusing on introduction of technologically advanced recreational vehicles at affordable prices in the market. For instance, in July 2022, ATC, a manufacturer of aluminum RVs and trailers, introduced its 2023 toy hauler models namely, Pla 500 Series and Pla 700 Series. Both the new RVs comprises advanced technology and new design that enhance owner comfort and usability. The toy haulers feature a multiplex touchscreen control, by which owner of RV can control and monitor core RV functions and features from touchscreen or smartphone app.
Some other prominent companies in the market include Airstream, Coachmen RV, Burstner GmbH & Co. KG, Entegra Coach, Forest River Inc., Gulfstream Coach Inc., Jayco Inc., Newmar Corporation, Hymer GmbH & Co. KG, Thor Industries Inc., Tiffin Motorhomes, and Winnebago Industries.