According to the RV RoadSigns Fall issue, a quarterly forecast prepared for ITR Economics by the RV Industry Association (RVIA), wholesale RV shipments are expected to hit an all-time high in 2021 and then trend upwards through 2022.
Craig Kirby, President, and CEO of the RV Industry Association said that the RV industry has seen a remarkable amount of production.
“Millions of people have discovered that RVs offer the best way to enjoy the outdoors and reap the benefits of an active outdoor lifestyle. We will see increased production of RVs through 2021 and 2022 due to the demand from both new RV owners and our returning customers.”
The most recent forecast for 2021 RV shipment is between 567,000 to 587,400 units. This would be a 34% increase over the 2020s 430,412 units. This would represent a 14.4% increase on the 2017 record of 504,600.
Industry growth is expected to continue through 2022, with shipments of between 586,300 and 614,100 units. The most probable total of 600,200 units would represent a four percent increase over 2021.
Jeff Rutherford, President and CEO of Airxcel, and Chairman of the RV Industry Association stated that while the industry faced many of the same supply chain and labor problems as other industries, it has overcome these issues and produced record numbers of RVs month after month. This forecast shows that although RV suppliers and manufacturers will face challenges in the future, they will still be able to make a record number of RVs to satisfy the record RV consumer demand.
The strong demand for RVs, the need to replenish low inventories by RV dealers, the strong financial standing, and continued interest in the outdoors are all factors that will keep RV shipments high. The 2022 peak in RV shipments is expected to be a record high. However, there will be a slower rate of RV shipment growth than in 2021 due to supply chain issues, inflation, and rising interest rates.
RV Industry Association members have the opportunity to view RoadSigns’ Fall 2021 issue here.
I’m captivated by the RV industry’s projected growth and the integration of smart features, making camping experiences more enjoyable. Any advice for first-time RV buyers?