In 2023, the travel trailers market in North America is anticipated to generate US$ 34.7 billion. Sales are expected to grow at a strong 7.90% CAGR, with a market value of US$ 73.9 billion by 2033. The market accounts for 8% - 10% of all recreational vehicle sales.
In North America, there was significant growth in the North American travel trailers market from 2017 to 2021. The Travel trailers market is estimated to rise quickly throughout the projected period. The RV sector has grown steadily in recent years.
With a car loaded with bags and a family in tow, a long-distance road trip may be mind-numbing. Flying is expensive and is not recommended for hauling many heavy, bulky items. However, with a new RV, they would be able to view all the sites in luxury.
RVs are in popular demand, as the times for check-in and check-out are irrelevant. The choice of when and where to eat and sleep belongs to each individual. People are welcome to bring as many bicycles, frisbees, and tennis rackets as they want to indulge in their favourite pastimes.
Moreover, along with retirees who own RVs and travel vehicles to spend their post-career years, a younger generation (aged 33-55) is increasingly living in and travelling in RVs and conversion vans.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 7.90% |
| Market Valuation (2023) | US$ 34.7 billion |
| Market Valuation (2033) | US$ 73.9 billion |
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The North American recreational vehicle market is anticipated to develop throughout the forecast period due to favourable demographic trends for RVs.
This trend, which is witnessing significant growth in RV ownership and rental, is primarily due to the ageing baby boomer demographic, whose values are compatible with RV travel and have the necessary discretionary spending.
In North America, the demographics of recreational vehicles are highly favourable. These vehicles are often used by the elderly or geriatric population who are beginning to approach retirement.
The bulk of North American consumers, according to Future Market Insights, are between the ages of 35 and 54. The 18 to 34 age group is a new market sector that manufacturers are increasingly focusing on.
During the forecast period, the motor home sector is likely to dominate the market.
The motor home category is estimated to dominate the global North American travel trailers market by securing a share of 32.0% by 2033. Due to their independence from carriers, motor homes have a better market representation. Additionally, the usage of travel trailers is also encouraged by the appeal of camping among younger generations with higher income levels.
During the projected period, the market segment for motor homes is anticipated to have the greatest CAGR. The growing popularity of motor home recreation travel is demonstrated by the rise in the number of campsites nationwide.
Additionally, they are frequently used nationwide for various purposes, including business travel, tailgating, travelling with pets, and participating in outdoor sports and other leisure activities.
Class C motor homes provide higher fuel efficiency than other types of RVs. They are sometimes called mini-motor homes and offer all the comforts of a bigger motor home in a smaller, more affordable package.
Principal Consultant
The United States is expected to dominate the market during the Forecast Period.
In terms of value, the United States had the leading position in the North American recreational vehicle market in 2023, followed by Canada.
Over the projection period, the travel trailers market in the United States is anticipated to maintain its robust expansion. RV ownership is widespread among United States families—over 9% own one. The cost of travel can be between 20 and 60% less than on a conventional holiday. This generation is more likely to travel in a trailer, with approximately 47.6 million United States households owning one.
In the United States, the majority of RV owners are 55 or older. As the Baby Boomer generation nears retirement, the number of Americans in that age range rapidly increases. As a result, it is anticipated that ownership of travel trailers increase throughout the projected period.
Macro demographic factors significantly drive this rapid expansion, attracting strategic purchasers and private equity firms to the travel trailers market. The travel trailers business has experienced a wave of consolidation in recent years, which has led to the dominance of a few North American travel trailers market more prominent players that represent many of the top brands in the market.
Due to positive demographic trends for RVs, it is predicted that the Canada travel trailers market would grow throughout the projection period.
An increasing number of RV travellers are predicted to flock to isolated parts of Canada as RV travel in North America continues to increase. Recreational vehicles (RVs) are more than just a practical means to get around and enjoy the outdoors for many Canadians; they are a way of life.
Moreover, this makes it unsurprising that recreational vehicles substantially affect the Canadian economy. The RV business generates a substantial and diverse amount of economic activity, which covers everything from RV production, sales, and services to the costs associated with using, storing, and travelling in RVs.
The RV industry supported an estimated 67,200 jobs directly and indirectly and added $4.8 billion in new economic value to the Canadian economy from an original investment of $6.2 billion in 2019.
RV producers in Canada earned an estimated $416 million in sales of manufactured products (shipments) in 2019, according to Statistics Canada's Monthly Survey of Manufacturing.
Vacation trailer demand in North America has increased significantly over the past few years as travellers look for better travel experiences more frequently. As a result, travel trailer manufacturers are altering their designs to reflect the shifting patterns in visitor behaviour.
For instance
Heartland Recreational Vehicles, Tiffin Motor Homes Inc., and Winnebago Industries Inc. are Pilfering the Market
To meet consumer needs, North American tourism businesses are putting quality first. It gives critical companies in the North American travel trailers market numerous opportunities. Additionally, the RV business is being supported by robust RV sales and intense consumer interest.
Moreover, this prognosis supports what has been seen nationwide, where people turn to RVs for environmental control and freedom to travel and lead active outdoor lifestyles. These North American travel trailers market trends are likely to continue during the forecast period.
For instance, with numerous locations in Iowa, Indiana, Minnesota, and Florida, Winnebago Industries manufactures high-quality RVs, travel trailers, fifth-wheel products, pontoons, inboard/outboard, and stern drive powerboats, and commercial community outreach vehicles.
Product development and the addition of new features to already existing items are the manufacturers' constant priorities. Additionally, companies that are still building their brands introduce new products.
For instance, Tiffin Motorhomes introduced the Allegro Bay, which includes a 24-gallon liquid propane tank and a Truma AquaGo Comfort Instant Water Heater as standard equipment. Also, the "All-Electric Coach," which has an induction cooktop that does away with the need for a propane tank, and the AquaHot Ultra Compact Hydronic Heating System, make the product attractive.
Furthermore, many school systems provide remote instruction, and many parents are already working from home. It presents an excellent chance for families to rent an RV and travel to the nation's historical landmarks.
Previously, this was not feasible due to the school timetable. More than 8 million kids were affected by this decision, which was made by 73% of the 100 more prominent school districts in the United States as of September 2. It gives the travel tourism business great potential to introduce new products.
Businesses are also providing customized services. For instance, Heartland Recreational Vehicles offers advice on improving your RV experience, favourite road trip recipes, evaluations of campgrounds and resorts, owner testimonials, and more. In addition, they launched their podcast to describe their life path, trips, and more to keep up with current trends.
RVs can be outfitted for specialized usages like disaster assistance and other professional and specialist applications. RVs can be built to serve as mobile offices, medical clinics, isolation units, bathrooms and showers, laundries, bunkrooms, command centres, and schools.
It can be used by families who have lost their homes or as a temporary residence for contractors and aid workers at disaster sites. Happy Campers, Casual Campers, Adventure Seekers, Escapists, Avid RVers, Full Timers, and Family Campers are just a few.
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered |
Exterior Construction Materials, Type, Countries |
| Key Companies Profiled |
Thor Industries Inc.; Winnebago Industries Inc.; Forest River Inc.; REV Group; NeXus RV; Triple E Recreational Vehicles; Tiffin Motor homes Inc.; Starcraft RV Inc.; Heartland Recreational Vehicles; Airstream; Northwood Manufacturing; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market will rise at a 7.90% CAGR through 2033.
Motor home segments will be the key type segment through 2033.
Expanding the recreational vehicle industry propels market growth.
The 2023 market value is US$ 34.7 billion.
By 2033, the market will reach US$ 73.9 billion.
1. Executive Summary
1.1. North America Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Country
3.9.2. By Key Countries
3.10. Country Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Exterior Construction Material
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Exterior Construction Material, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Exterior Construction Material, 2023 to 2033
5.3.1. Wood
5.3.2. Aluminum
5.3.3. Others
5.4. Y-o-Y Growth Trend Analysis By Exterior Construction Material, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Exterior Construction Material, 2023 to 2033
6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033
6.3.1. Motor homes
6.3.1.1. Class A Motor Homes
6.3.1.2. Class B Motor homes
6.3.1.3. Class C Motor homes
6.3.2. Travel Trailers & Camper
6.3.2.1. Conventional Travel Trailer
6.3.2.2. Fifth-Wheel Travel Trailer
6.3.3. Camping Trailer
6.3.3.1. Folding Camping Trailer
6.3.3.2. Truck Camper
6.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Country, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Country, 2023 to 2033
7.3.1. North America
7.4. Market Attractiveness Analysis By Country
8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. The USA
8.2.1.2. Canada
8.2.1.3. Rest of North America
8.2.2. By Exterior Construction Material
8.2.3. By Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Exterior Construction Material
8.3.3. By Type
8.4. Key Takeaways
9. Key Countries Market Analysis
9.1. USA
9.1.1. Pricing Analysis
9.1.2. Market Share Analysis, 2022
9.1.2.1. By Exterior Construction Material
9.1.2.2. By Type
9.2. Canada
9.2.1. Pricing Analysis
9.2.2. Market Share Analysis, 2022
9.2.2.1. By Exterior Construction Material
9.2.2.2. By Type
10. Market Structure Analysis
10.1. Competition Dashboard
10.2. Competition Benchmarking
10.3. Market Share Analysis of Top Players
10.3.1. By Country
10.3.2. By Exterior Construction Material
10.3.3. By Type
11. Competition Analysis
11.1. Competition Deep Dive
11.1.1. Thor Industries Inc.
11.1.1.1. Overview
11.1.1.2. Product Portfolio
11.1.1.3. Profitability by Market Segments
11.1.1.4. Sales Footprint
11.1.1.5. Strategy Overview
11.1.1.5.1. Marketing Strategy
11.1.1.5.2. Product Strategy
11.1.1.5.3. Channel Strategy
11.1.2. Winnebago Industries Inc.
11.1.2.1. Overview
11.1.2.2. Product Portfolio
11.1.2.3. Profitability by Market Segments
11.1.2.4. Sales Footprint
11.1.2.5. Strategy Overview
11.1.2.5.1. Marketing Strategy
11.1.2.5.2. Product Strategy
11.1.2.5.3. Channel Strategy
11.1.3. Forest River Inc.
11.1.3.1. Overview
11.1.3.2. Product Portfolio
11.1.3.3. Profitability by Market Segments
11.1.3.4. Sales Footprint
11.1.3.5. Strategy Overview
11.1.3.5.1. Marketing Strategy
11.1.3.5.2. Product Strategy
11.1.3.5.3. Channel Strategy
11.1.4. REV Group
11.1.4.1. Overview
11.1.4.2. Product Portfolio
11.1.4.3. Profitability by Market Segments
11.1.4.4. Sales Footprint
11.1.4.5. Strategy Overview
11.1.4.5.1. Marketing Strategy
11.1.4.5.2. Product Strategy
11.1.4.5.3. Channel Strategy
11.1.5. NeXus RV
11.1.5.1. Overview
11.1.5.2. Product Portfolio
11.1.5.3. Profitability by Market Segments
11.1.5.4. Sales Footprint
11.1.5.5. Strategy Overview
11.1.5.5.1. Marketing Strategy
11.1.5.5.2. Product Strategy
11.1.5.5.3. Channel Strategy
11.1.6. Triple E Recreational Vehicles
11.1.6.1. Overview
11.1.6.2. Product Portfolio
11.1.6.3. Profitability by Market Segments
11.1.6.4. Sales Footprint
11.1.6.5. Strategy Overview
11.1.6.5.1. Marketing Strategy
11.1.6.5.2. Product Strategy
11.1.6.5.3. Channel Strategy
11.1.7. Tiffin Motor homes Inc.
11.1.7.1. Overview
11.1.7.2. Product Portfolio
11.1.7.3. Profitability by Market Segments
11.1.7.4. Sales Footprint
11.1.7.5. Strategy Overview
11.1.7.5.1. Marketing Strategy
11.1.7.5.2. Product Strategy
11.1.7.5.3. Channel Strategy
11.1.8. Starcraft RV Inc.
11.1.8.1. Overview
11.1.8.2. Product Portfolio
11.1.8.3. Profitability by Market Segments
11.1.8.4. Sales Footprint
11.1.8.5. Strategy Overview
11.1.8.5.1. Marketing Strategy
11.1.8.5.2. Product Strategy
11.1.8.5.3. Channel Strategy
11.1.9. Heartland Recreational Vehicles
11.1.9.1. Overview
11.1.9.2. Product Portfolio
11.1.9.3. Profitability by Market Segments
11.1.9.4. Sales Footprint
11.1.9.5. Strategy Overview
11.1.9.5.1. Marketing Strategy
11.1.9.5.2. Product Strategy
11.1.9.5.3. Channel Strategy
11.1.10. Airstream
11.1.10.1. Overview
11.1.10.2. Product Portfolio
11.1.10.3. Profitability by Market Segments
11.1.10.4. Sales Footprint
11.1.10.5. Strategy Overview
11.1.10.5.1. Marketing Strategy
11.1.10.5.2. Product Strategy
11.1.10.5.3. Channel Strategy
11.1.11. Northwood Manufacturing
11.1.11.1. Overview
11.1.11.2. Product Portfolio
11.1.11.3. Profitability by Market Segments
11.1.11.4. Sales Footprint
11.1.11.5. Strategy Overview
11.1.11.5.1. Marketing Strategy
11.1.11.5.2. Product Strategy
11.1.11.5.3. Channel Strategy
12. Assumptions & Acronyms Used
13. Research Methodology
Travel and Tourism
February 2023
REP-GB-3006
250 pages
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North America Travel Trailers Market
