Rising Trend in Travelling and Tourism is Outpacing Demand in the Travel Trailer and Camper Market, says Market.us

Recreational vehicles, usually called RVs, are a type of motor vehicle or trailer with rooms designed to accommodate guests. The types of RVs are motorhomes, campervans and coaches, and caravans. They are often referred to as travel trailers and camper markets. They also include fifth-wheel trailers, pop-up campers, and truck campers.

According to research by Market.us, “The Travel Trailer and Camper Market size is expected to be around USD 199.71 billion by 2032 from USD 77 billion in 2022, growing at a CAGR of 10% during the forecast period from 2022 to 2032.”

A recreational vehicle is a technically advanced and premium product, and also it is majorly taken on a rent basis by the film industry for shooting at remote locations. Therefore, the rental services in RV drive the market growth over the forecast period.

Anurag Sharma, a senior research analyst at Market.us, said, “The market growth is rising due to increased tourism and recreational activities. So that the demand for RV vehicles is increasing in the last few years due to luxuries and comfortable accommodation facilities. One of the reasons for the growth in this market is the rising trend of traveling on weekends and holidays because of the hectic and busy lifestyle of the corporate sector.”

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With the advent of new technologies, people are increasingly looking for ways to customize their living arrangements. One way of doing this is by purchasing motorhomes or RVs for personal use. In the coming years, the demand for customized RVs is expected to grow exponentially, with people wanting to add their own personal touches and lifestyles.

The process of designing custom RVs is an excellent business. The customization of the RVs market is predicted to grow by 10% annually through 2020 as more people search for custom-designed RVs. Custom RVs aren’t only for celebrities and the wealthy; they are also available to common people looking to make their space distinctive. They can be customized to suit your needs. RVs are customizable in a range of ways. These include changing the look, including or eliminating features, or changing the layout or style.

International agreements to reduce carbon dioxide pollution and environmental regulations regarding the efficiency of fuels hinder this business. Many environmental regulatory plans include a higher fuel tax, which could increase the cost of transportation and negatively impact the demand for RVs. Additionally, hybrid electric engines could reduce the environmental burden of fuel efficiency; however, economically viable alternatives are not yet accessible in the RV market.

According to Forbes, the latest features that we can expect from vehicles comprise autonomous drive, driver-override systems, biometric access to vehicles, complete vehicle tracking, active windows, the remotely controlled shutdown of vehicles, active health monitoring supercars with four cylinders, intelligent and personalized in-car advertising, and flexible body panels that can be reconfigured. These new technologies are expected to propel the camper and travel trailer market in the coming years.

Manufacturers of campers and travel trailers are increasingly incorporating solar panels on their travel trailers to help in the development of a green ecosystem. Travel trailers traditionally rely on noisy generators to perform their purpose. Solar panels don’t make noise and are extremely portable and light. 

Solar panels can be installed on trailers. They convert light into electricity which is then used to power travel trailers. For example, Renogy, Go Power, and Zamp Solar makes solar panels and equipment for trailers and campers.

Major companies driving the travel trailer and camper market include Thor Industries, Inc, REV Group, Gulf Stream Coach, Inc, Apollo Tourism & Leisure Ltd, Eclipse, Recreational Vehicles Inc, and Fleetwood Corporation Limited.