Motorhome Vehicle Market to Garner $62.9 Billion by 2031: Allied Market Research
Allied Market Research
4 min read
Allied Market Research
Changing outlook of the leisure & recreational activities and increase in electrification activities have boosted the growth of the global motorhome vehicle market. The market across Asia-Pacific is estimated to register the highest CAGR of 9.9% during the forecast period. The industry observed rise in sales of motorhomes during the pandemic period as people preferred to stay in motorhomes and caravans compared to hotels.
Portland, OR, Nov. 02, 2022 (GLOBE NEWSWIRE) -- As per the report, the global motorhome vehicle market accounted for $29.3 billion in 2021, and is expected to register $62.9 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Changing outlook of the leisure & recreational activities
Increase in electrification activities
Opportunities
Rise in demand for technologically advanced recreational vehicles
Restrains
Fluctuating prices of raw materials used for manufacturing of motorhome vehicles
Covid-19 Scenario:
The Covid-19 pandemic positively affected the market. The industry observed rise in sales of motorhomes during the pandemic period as people preferred to stay in motorhomes and caravans compared to hotels.
However, shortage of the supply of raw materials due to prolonged lockdown and the disrupted supply chain hampered the market growth.
The global motorhome vehicle market is segmented on the basis of type, application, and geography.
Based on type, the type B segment is projected to portray the highest CAGR of 9.5% during the forecast period. However, the type C segment held the lion’s share in 2021, accounting for more than half of the market, and is expected to maintain its leadership position throughout the forecast period.
Based on application, the commercial segment is estimated to manifest the highest CAGR of 9.5% during the forecast period. However, the personal segment dominated in 2021, contributing to nearly three-fifths of the market, and is estimated to maintain its dominance by 2031.
The global motorhome vehicle market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to register the highest CAGR of 9.9% during the forecast period. However, the market across North America held the largest share in 2021, contributing to more than two-fifths of the market, and is projected to maintain its leadership position from 2021 to 2031.
The global motorhome vehicle market report includes an in-depth analysis of the major market players such as Coachmen Recreational Vehicle Company, LLC, Airstream Inc, Entegra Coach, Inc, Bürstner GmbH & Co. KG, Gulf Stream Coach Inc., Forest River Inc., Newmar Corporation, Jayco, Inc., Thor Industries, Inc., Hymer GmbH & Co. KG, Winnebago Industries, Inc., and Tiffin Motorhomes Inc.
The report analyzes these key players in the global motorhome vehicle market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
