North America Recreational Vehicles Market Poised To Reach US$ 26.19 Bn By 2024

Posted by Vinay on October 5th, 2017

North America sales of recreational vehicle are projected to reach US$ 26.19 Bn by 2024 end, expanding at a CAGR of over 7%. In terms of consumption volume, recreational vehicles will possibly exceed 465,000 units within the first half of the assessed period i.e. by 2020 end.

In a recently published market outlook titled “Recreational Vehicle Market: North America Industry Analysis and Forecast 2016 to 2024," Persistence Market Research delivers key insights into the critical factors expected to impact the market growth over the next few years. The report also provides country-wise and segmental analysis estimated for an eight-year forecast period, 2016-2024.

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“Revenue sales of recreational vehicle across North America will be highly impacted by demographics, consumer behavior, and purchasing power. Eco-friendly and lightweight recreational vehicle highlight a current growing trend, whereas hybrid/battery-operated recreational vehicles have recently emerged as a promising trend. Rental market for recreational vehicle is witnessing significant growth. Growing preference for online shopping will also benefit RV promotion and sales,” Persistence Market Research comments on the most influential trends in North America’s recreational vehicle market. 

Rising consumer inclination toward entertaining outdoors and adventure travel will remain the key drivers to North America market for recreational vehicles. Recent style and design innovations fuel the market growth further. 

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 Developing outdoor recreational infrastructure and growing preference for sustainable tourism against mass tourism will collectively create revenue generation channels for RV manufacturers.