Recreational Vehicles Market Technological Innovations And Future Opportunities 2024

Recreational vehicles market will register a CAGR of 6% By 2024. It is noteworthy to mention that the shifting trends toward the development of emission-free vehicles for controlling the pollution level in the environment have generated a new business avenue for vehicle manufacturers. In fact, some companies have been establishing electric vehicle platforms as well, in order to stay ahead of competition.

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Proliferating RV rental services demand along with the availability of multiple RV models at varied price points and engine alternatives has in turn led to increased consumer attraction towards these services. Inadvertently, requirement to cater the growing consumer demand along with fleet expansion will support the business expansion till 2024. The introduction of lightweight and ultra-lightweight RVs with focus on lower cost and reduced fuel consumption, are driving the recreational vehicles market over the study timeframe.

Stringent government regulations regarding the safety aspects of recreational vehicles involving the drivers and passengers are boosting the customers' confidence, thereby playing a major role in the increased adoption of the RVs. Moreover, continuous support from the government to upgrade existing RV parks, recreational facilities and customized services for RV owners will strengthen the industry share over the forecast timeframe. However, higher costs associated with the acquisition and maintenance of these vehicles coupled with stringent norms regarding age and driving license restrictions for operating such vehicles will hamper the industry growth till 2024.

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The increasing popularity of moving restaurants has also had a considerable impact on the recreational vehicles industry size. Rather than constructing a new building for hotels, there has been a surging preference of late, for on-vehicle hotels that resolves the issues of food, shelter, and income on a single platform. In fact, space utilization for hospitality and residential purposes was a major concern that prompted Protec to launch a new Q18 motorhome. With extensive research and development, Protec has configured new motorhome that is equipped with a dry bathroom, dining room, full kitchen, sink, fridge with freezer, and an additional pull-out worktop. The deployment of luxurious amenities in the vehicle will further fuel the product demand that will ultimately boost the recreational vehicles market outlook.

Some Point from Table of Contents:

Chapter 5.   Recreational Vehicles Market, By Fuel

5.1. Global Recreational vehicles market share by fuel, 2017 & 2024

5.2. Gasoline

5.2.1.  Market estimates and forecast, 2013 – 2024, (Units) (USD Million)

5.2.2.  Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)

5.3. Diesel

5.3.1.  Market estimates and forecast, 2013 – 2024, (Units) (USD Million)

5.3.2.  Market estimates and forecast, by region, 2013 – 2024, (Units) (USD Million)

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