$48 Billion U.S. Leisure Automobiles Trade Soars with Pandemic


recreation vehicle with couple outsideThe U.S. RVs business posted document revenues and shipments in 2021 in the course of the COVID-19 pandemic, as customers sought methods to trip safely. This was a serious turning level and stimulus for the business, as a brand new and youthful demographic was launched to the RV life-style.

Nevertheless, this tempo was not sustainable and RV shipments and gross sales started to say no in 2022. This decline continues into 2023, as RV costs and demand fall, however it’s being mitigated as clients are actually pursuing RV leases, used automobiles, and RV sharing. The business is prone to increase and bust cycles, as RVs are discretionary purchases that may be postponed or cancelled. The outlook over the following 4 years is sweet, as RV parks develop in quantity.

In america, about 85 % of leisure automobiles bought are manufactured in Indiana, and roughly two-thirds of that manufacturing in Elkhart County, which calls itself “the RV Capital of the World.”

Prime Issues to Know In regards to the Leisure Automobiles Sector

  • RV Trade Measurement: Marketdata estimates that the RVs business had document revenues of $52.6 billion in 2021, a 33% improve over 2020. This was atypical, fueled by the pandemic. The 9-year development price for RV supplier gross sales was 26.7% from 2012 to 2021. The business is returning to extra historic development charges and is forecast to develop 6.2% per 12 months from 2022 to 2027.
  • 2023 Outlook: Gross sales of RVs are declining as costs fall and sellers work by way of their massive inventories. Rising rates of interest and financial uncertainty will proceed to behave as headwinds. The RV sector depends closely on customers’ affordability. A ten.3% gross sales decline is forecast for this 12 months.
  • Growth and Bust Cycles: This business’s three main downturns since 2000 have been linked to MAJOR occasions: 1) 9/11 terrorist assault on NY Metropolis and Washington DC, 2) The Nice Recession of 2008-2009, and three) the COVID-19 pandemic. It’s extremely unlikely that over the following 4 years, we might be confronted with downturns within the economic system of this magnitude.
  • RVs Are In style amongst Shoppers: As of March 2021, 11.3 million households owned an RV — a 26 % improve over the previous ten years. Technology X and Child Boomers make up the bulk of RV house owners, and people aged between 35-54 are the most probably to personal an RV. The common proprietor has an revenue of $68,000.
  • Aggressive Market: The business consists of two,800 retail RV sellers and practically 4,900 RV parks and campgrounds, that make use of a mixed 76,700 staff. RV producers make use of one other 11,373 staff.
  • RV Operations: The common RV supplier retail “institution” (workplace, department, bodily web site) had estimated receipts of $12.78 million in 2020, up 32% from 2017. The common RV park “institution” had estimated receipts of $840,000 in 2020, up 22.8% from 2017. In 2020, the states with the most important variety of RV supplier institutions included: California, Texas, Florida, Michigan, Oregon, and Pennsylvania, in that order.

The place to Be taught Extra

To entry extra data, remember to learn the newly printed 87-page report The U.S. Leisure Automobile Trade: RV Producers, Sellers, and RV Parks, which incorporates buyer demographics, key business statistics and traits, market sizing and development forecasts, efficiency evaluation, gross sales knowledge, RV cargo metrics, and competitor profiles.

In regards to the Creator:  John LaRosa is the President of Marketdata LLC and is the creator of 100+ business and market research. His analysis seems in high media retailers together with ABC, CNN, Fox, ForbesUSA At presentThe Wall Avenue JournalThe New York Occasions, and quite a lot of commerce journals. 


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