The ‘Motorhome Vehicle Global Market Size, Share, Report and Forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the global motorhome vehicle market, assessing the market on the basis of its segments like types, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Motorhome Vehicle Market Price, Trends, Growth, Analysis, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2032)
• Historical Market Size (2023): USD 33.9 Billion
• Forecast CAGR (2024-2032): 8.4%
• Forecast Market Size (2032): USD 54.5 Billion
A major driver of the global motorhome vehicle market is the growing usage of the product as a living space among individuals or a group. A large number of people prefer motorhomes over traditional houses or apartments as it eliminates expenses such as mortgages, rent or utility bills.
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It is also a popular option among minimalists as they prefer simpler living in a compact space compared to buying their own houses. Furthermore, the rise in nomadic lifestyles and the surging trend of remote working are also expected to fuel the market growth in the forecast period.
Due to their sufficient sleeping and storage space, there is a growing demand for class A motorhomes among people who want to lead a comfortable lifestyle. Meanwhile, class B is an appropriate option for a single individual seeking an economical living space, which is easy to drive anywhere.
Increasing disposable incomes are driving the demand for luxurious motorhomes among individuals who want to live a comfortable lifestyle in their RVs. Moreover, many remote workers are also choosing to live in motorhomes so they can travel and work from any place.
Motorhome Vehicle Industry Definition and Major Segments
A motorhome vehicle, also known as a camper or recreational vehicle (RV), is a self-propelled vehicle that contains the facility of living quarters along with transportation. The living quarters in a motor vehicle are equipped with bedrooms, washrooms, kitchens, storage spaces, and workspace, among others, and function as a mobile living space for people.
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On the basis of type, the motorhome vehicle market is classified into:
• Class A
• Class B
• Class C
Based on application, the market is categorised into:
Based on region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Motorhome Vehicle Market Trends
A key trend propelling the growth of the global motorhome vehicle market is increasing tourism and travel-related activities. Many people prefer to rent motorhomes for their vacation as they no longer need to spend separately on living quarters and transport. Furthermore, it is also a viable solution during peak holiday seasons when most of the hotels and guesthouses are completely booked.
Market players are also focused on integrating high-tech features in motorhomes to enhance their functionality. Some of these features include solid flip-up steps, solar roofs, advanced airflow systems, and auto-electric levelling, among others.
Furthermore, some manufacturers are focused on developing cost-efficient class-A motorhomes to enhance their appeal. For instance, in 2023, Luxury motorhome manufacturer Carthago launched the upgrade of its chic e-line and liner-for-two motorhome ranges. The chic e-line is to be available as single and twin axile while the liner-for-two gets a new exterior and interior finish.
North America accounts for a substantial share of the global motorhome vehicle market owing to the increased popularity of RVs. High rent and mortgage rates on residential housing are also expected to gravitate more people towards motorhomes. Furthermore, the growing travel and tourism in the region also favour the demand for rental motor houses.
Key Market Players
The major players in the global motorhome vehicle market report are:
- Thor Industries, Inc.
- Winnebago Industries, Inc.
- REV Group, Inc.
- Triple E Canada Ltd.
- Forest River, Inc.
- Westfalen Mobil GmbH
- Hymer GmbH & Co. KG
- Newmar Corporation
- Bürstner GmbH & Co. KG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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