The RV life offers alluring benefits such as flexibility, convenience, comfort, family appeal, affordability, the lure of the outdoors, and adaptability. As the demand for recreational vehicles rises, RV manufacturers are now interested in making rigs with less impact on the environment, according to a FinancialNewsMedia.com release.
A report from ResearchAndMarkets said that: “The Recreational Vehicle (RV) Market in North America 2018-2022 is forecast to grow at a CAGR of 8.18% during the period 2018-2022. The installation of solar technology in RVs will be a key trend driving the market’s growth. With the installation of external power generators that incurred additional costs and were not environment-friendly, RV manufacturers are investing in manufacturing environment-friendly vehicles with solar generators.”
The substantial cost savings by using RVs over conventional vacation modes will also drive market growth, as per the report. Consumers are demanding cost-effective road trips and vacations. For cost-effective planning of trips, consumers can choose among options such as driving their car and staying at a hotel, owning an RV, and renting an RV.
A report from Goldstein Research added that one of the major trends in the global recreational vehicle (RV) industry is the eco-retro recreational vehicle. The vehicle is fitted with solar panels to power its onboard accessories. In addition to this, a computer and GPS will position the panels to maximize their solar intake.
The major driving factor for the recreational vehicle (RV) industry is increased travel and tourism among people, especially the younger generation. Consumers want to travel but don’t want to invest in hotels and search for comfortableness, the report continued.
The demand for solar-powered golf carts also increased. In fact, Triad Pro Innovators, Inc. reported that sales and production are ramping for the SPREE solar-powered golf cart. After entering into a distribution agreement with Phoenix-based San Tan in September, the company is pleased to announce that the initial response to the SPREE has been “overwhelmingly positive.”
Company CEO Murray Goldenberg stated, “San Tan has started to accept delivery of production units and is anxious to receive additional carts, which are being completed.” The company forecasts an initial demand of approximately 300 units per year through San Tan, delivering an incremental boost to its existing direct sales channel.