A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Recreational Vehicles – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. The following is their press release.
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ABSTRACT
Global Recreational Vehicles Market to Reach $68.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Recreational Vehicles estimated at US$57.5 Billion in the year 2020, is projected to reach a revised size of US$68.1 Billion by 2026, growing at a CAGR of 2.7% over the analysis period. Towable, one of the segments analyzed in the report, is projected to record a 2.8% CAGR and reach US$51.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Motorhomes segment is readjusted to a revised 2.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $17.6 Billion in 2021, While China is Forecast to Reach $12.1 Billion by 2026.
The Recreational Vehicles market in the U.S. is estimated at US$17.6 Billion in the year 2021. China, the world`s second-largest economy, is forecast to reach a projected market size of US$12.1 Billion by the year 2026 trailing a CAGR of 2.5% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer-driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.