The RV Market Forecast and Analysis 2022-2026 report by Techavio estimated that the market would gain an incremental growth of $28.62 billion at a compound annual growth rate (CAGR) during the forecast period.
The analysis has been monitoring the sector operating in the leisure products industry. It also saw that the market is fragmented to a degree that will accelerate during the forecast period.
The report shows that competitors must focus on distinguishing their products with a unique value proposition to strengthen their standing in the market. Market vendors must also leverage the existing growth prospects in the segments’ fast-paced growth while maintaining their positions in the slow-growing components.
The report showed that some of the major market participants in the RV industry are Berkshire Hathaway Inc., Dethleffs GmbH and Co. KG, Nexus RV, Northwood Manufacturing Inc., Oliver Travel Trailers Sales Co. Inc., REV Group Inc., The Swift Group, Thor Industries Inc., Triple E Canada Ltd., Winnebago Industries Inc., JCBL Ltd, Knaus Tabbert AG, and Pleasure-Way Industries Ltd.
RV Market Value Chain Analysis
The report said that the end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.
Techavio said in a press release last week that the report’s data in its value chain analysis segment can help vendors drive costs and improve customer services during the forecast period.
The report shows that the value chain of the RV Market includes the following core components, which are Inputs, Inbound logistics, Operations, Outbound logistics, and Marketing and Sales.
Increasing adoption of RVs by different generations of consumers has been instrumental in driving the market’s growth. However, vehicle recalls affecting market dynamics might hamper market growth, according to the analysis report.
Based on the geographic segmentation of the report, 39% of the markets originated from North America during the forecast period. In addition, the motorized category led the growth under the product segment.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
Click here to learn more about the RV Market & Analysis report.
When diving into the RV market’s evolution, it’s key to embrace tech advancements for a better customer experience. Partnering up and using data analytics can give a competitive edge.