Key Takeaways
- The North American RV market size reached USD 67.1 billion in 2022, growing at a CAGR of 8.2% from 2017 to 2022.
- Global RV market revenue was estimated at USD 58.2 billion in 2023, projected to reach USD 94.5 billion by 2030 at a CAGR of 7.2%.
- U.S. RV industry wholesale value exceeded $28 billion in 2021.
- North America recorded 524,990 RV wholesale shipments in 2021, a record high surpassing previous years.
- U.S. RV retail sales units totaled 414,000 in 2022.
- Towable RVs accounted for 86.5% of 2023 wholesale shipments at 386,200 units.
- 11.7 million Americans aged 6+ participated in RV/camping trips in 2022.
- 20.6% of U.S. households own an RV as of 2023.
- Median age of RV owners is 53 years in 2023.
- There are 295 RV manufacturers in North America as of 2023.
- Winnebago Industries produced 65,000 RVs in fiscal 2023.
- Forest River Inc. output 250,000 units annually average 2022.
- RV shipments forecasted at 350,000-400,000 units for 2024.
- EV RV adoption expected to reach 15% by 2030.
- Smart RV tech market to grow at 12.5% CAGR to 2030.
The North American RV industry is booming, contributing billions to the economy and reaching millions of households.
Demographics & Ownership
- 11.7 million Americans aged 6+ participated in RV/camping trips in 2022.
- 20.6% of U.S. households own an RV as of 2023.
- Median age of RV owners is 53 years in 2023.
- 45% of new RV buyers are under 45 years old in 2022.
- Baby Boomers represent 52% of RV owners in U.S. 2023.
- 38% of RV owners have household income over $100,000 in 2022.
- Women account for 52% of primary RV trip decision-makers in 2023.
- 62% of RV owners are married couples in 2022.
- Millennials make up 24% of RV market growth drivers in 2023.
- 28% of RV households have children under 18 in 2022.
- African American RV ownership rose 15% from 2020-2023.
- 41% of RV owners are college-educated in 2023.
- Full-time RVers number 1.2 million in U.S. 2022.
- Snowbird RVers total 600,000 annually in 2023.
- 55% of RV owners are retired in 2022.
- Hispanic RV ownership grew 22% in past 5 years to 2023.
- Average RV household size 2.8 persons in 2022.
- 67% of RV owners male, 33% female primary owners 2023.
- Gen X represents 31% of RV buyers in 2022.
- 19% of RV owners are veterans in U.S. 2023.
- Urban dwellers buying RVs increased 18% to 2022.
- LGBTQ+ RV ownership at 7% of total households 2023.
- 76% of RV owners white/Caucasian in 2022.
- Average tenure of RV ownership 7.2 years in 2023.
- 14% of RV owners use for work/remote in 2022.
- Female-led RV households up 12% since 2019 to 2023.
- 8.1 million RV-owning households in U.S. 2023.
Demographics & Ownership Interpretation
Market Size & Revenue
- The North American RV market size reached USD 67.1 billion in 2022, growing at a CAGR of 8.2% from 2017 to 2022.
- Global RV market revenue was estimated at USD 58.2 billion in 2023, projected to reach USD 94.5 billion by 2030 at a CAGR of 7.2%.
- U.S. RV industry wholesale value exceeded $28 billion in 2021.
- RV industry contributed $140 billion to U.S. GDP in 2022 including direct, indirect, and induced effects.
- Canadian RV market generated CAD 5.2 billion in economic output in 2022.
- Europe RV market size was valued at EUR 12.5 billion in 2022.
- Towable RV segment accounted for 87% of North American market revenue in 2022.
- Motorhome RV market revenue hit USD 10.2 billion in the U.S. in 2023.
- RV parts and accessories aftermarket size was USD 8.9 billion globally in 2022.
- U.S. RV rental market revenue reached $3.4 billion in 2023.
- RV industry retail sales value topped $50 billion in 2022.
- Asia-Pacific RV market grew to USD 4.7 billion in 2023 at 9.5% CAGR.
- U.S. RV manufacturing direct output was $24.5 billion in 2022.
- Campground and RV park industry revenue was $8.2 billion in U.S. 2023.
- RV insurance market in North America valued at $2.1 billion in 2022.
- Luxury RV segment market size hit $15.3 billion globally in 2023.
- U.S. used RV market revenue estimated at $12.6 billion in 2022.
- RV financing market size reached $18.4 billion in outstanding loans in 2023.
- Australia RV market revenue was AUD 1.2 billion in 2022.
- Latin America RV market valued at $1.8 billion in 2023.
- U.S. RV export value was $1.5 billion in 2022.
- RV digital sales platforms market size $450 million in 2023.
- North American RV service and repair market $4.2 billion in 2022.
- Pop-up camper market revenue $1.1 billion globally 2023.
- Fifth-wheel RV segment $6.8 billion in U.S. 2022.
- Travel trailer market size USD 22.4 billion North America 2023.
- Class A motorhome market $3.7 billion U.S. 2022.
- RV customization aftermarket $2.9 billion 2023.
- U.S. RV industry supported 678,000 jobs in 2022.
- RV park development market $1.6 billion U.S. 2023.
Market Size & Revenue Interpretation
Production & Manufacturing
- There are 295 RV manufacturers in North America as of 2023.
- Winnebago Industries produced 65,000 RVs in fiscal 2023.
- Forest River Inc. output 250,000 units annually average 2022.
- Thor Industries total production capacity 400,000 units/year 2023.
- Average RV manufacturing plant employs 450 workers in U.S. 2022.
- 678,000 jobs supported by RV manufacturing sector 2022.
- Elkhart, IN accounts for 80% of U.S. RV production 2023.
- Aluminum chassis used in 65% of motorhome production 2022.
- Average production time per towable RV is 4.2 days 2023.
- 92% of RVs manufactured in U.S. use domestic components 2022.
- REV Group produced 22,500 motorhomes in 2023.
- Fiberglass bodies in 45% of new RVs produced 2022.
- 1,200 suppliers in RV manufacturing supply chain 2023.
- Average RV factory output 50 units/day in 2022.
- Diesel pusher motorhomes production 2,800 units/year U.S. 2023.
- 75% automation in chassis assembly lines 2022.
- Jayco Inc. manufactured 75,000 RVs in 2023.
- Steel frame usage in 88% of towables produced 2022.
- 15 new RV manufacturing facilities opened 2021-2023.
- Lippert Components supplies 90% of RV chassis 2023.
- Average cost to build a Class A motorhome $250,000 in materials 2022.
- 3D printing used in 20% of prototype production 2023.
- Grand Design RV output 60,000 units 2023.
- Solar panel integration in 35% of new production 2022.
- 52 million square feet of manufacturing space in Elkhart 2023.
- Keystone RV produced 100,000 towables in 2022.
Production & Manufacturing Interpretation
Shipments & Sales
- North America recorded 524,990 RV wholesale shipments in 2021, a record high surpassing previous years.
- U.S. RV retail sales units totaled 414,000 in 2022.
- Towable RVs accounted for 86.5% of 2023 wholesale shipments at 386,200 units.
- Motorhome shipments reached 60,704 units in North America 2023.
- Class B motorhome sales hit 12,345 units in U.S. 2022.
- Travel trailer shipments were 299,800 units in 2022.
- Fifth-wheel trailer sales reached 55,200 units in 2023.
- Used RV sales volume was 280,000 units in U.S. 2022.
- RV exports from U.S. totaled 18,500 units in 2022.
- Canada RV wholesale shipments 45,200 units in 2023.
- Pop-up camper shipments 8,900 units North America 2022.
- Class C motorhome shipments 38,400 units 2023.
- Toy hauler sales 22,100 units U.S. 2022.
- Europe RV registrations 250,000 units in 2022.
- Australia caravan sales 85,000 units in 2023.
- U.S. RV auction sales 45,000 units 2022.
- January 2024 RV wholesale shipments 22,345 units.
- Q4 2023 towable shipments 98,700 units.
- New RV dealer inventory averaged 45 days supply in 2023.
- RV retail units sold online 15% of total in 2023.
- Luxury motorhome sales 4,200 units U.S. 2022.
- Hybrid trailer shipments 12,800 units 2023.
- U.S. RV sales to first-time buyers 42% of total 2022.
- Monthly RV shipments averaged 37,000 units in 2023.
- Destination trailer sales 9,500 units 2022.
- 32.4% year-over-year decline in RV shipments from 2022 peak in 2023.
Shipments & Sales Interpretation
Trends & Innovations
- RV shipments forecasted at 350,000-400,000 units for 2024.
- EV RV adoption expected to reach 15% by 2030.
- Smart RV tech market to grow at 12.5% CAGR to 2030.
- Glamping RV segment projected 11% CAGR 2023-2030.
- Off-grid RV features in 40% of new models by 2025.
- Rental RV market to hit $7.2 billion by 2028.
- Autonomous RV tech pilots by 2027 forecast.
- Sustainable materials in 60% RVs by 2030 projection.
- RV park occupancy rates to average 75% through 2028.
- Direct-to-consumer RV sales up 25% by 2025.
- Hydrogen fuel cell RVs commercial by 2028.
- AI route planning in 70% apps by 2026.
- Compact urban RVs sales +30% by 2027.
- Subscription RV models 10% market share 2030.
- 5G connectivity standard in 85% new RVs 2025.
- Van life conversions to grow 18% CAGR to 2030.
- Luxury experiential RVs +22% demand 2024-2028.
- Digital twin tech for RV design by 2026 widespread.
- Boondocking RVs with 50% battery capacity rise by 2027.
- Pet-friendly RV features in 90% models 2025.
- AR/VR virtual tours 50% sales influence 2026.
- Modular RV components 25% production 2030.
- Climate-resilient RVs demand +40% by 2030.
- Work-from-RV remote workers 2 million by 2025.
Trends & Innovations Interpretation
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