News Blip: RV Market Forecast Has Spoken
Persistence Market Research Delivers Insights Into Sales Figures & Critical Factors Expected to Impact Industry Growth Over Next Few Years
According to a an analysis of the RV market by Persistence Market Research, North America sales of recreational vehicle are projected to soar to $26.19 US billion by 2024 end, expanding at a CAGR of over 7%. In terms of consumption volume, recreational vehicles will possibly exceed 465,000 units within the first half of the assessed period. The study, called “Recreational Vehicle Market: North America Industry Analysis and Forecast 2016 to 2024,” reports key insights into the critical factors expected to impact the market growth over the next few years. The report also provides country-wise and segmental analysis estimated for an eight-year forecast period, 2016-2024.
NB Herardwriter Carrie Brunner relays in her article: "Revenue sales of recreational vehicle across North America will be highly impacted by demographics, consumer behavior, and purchasing power. Eco-friendly and lightweight recreational vehicle highlight a current growing trend, whereas hybrid/battery-operated recreational vehicles have recently emerged as a promising trend. Rental market for recreational vehicle is witnessing significant growth. Growing preference for online shopping will also benefit RV promotion and sales,” all according to Persistence Market Research. Baby Boomers have always been the largest consumer cluster for recreational vehicle. However, several RV manufacturers are increasingly targeting young consumers through emphasis on new, cost-effective product launches based on advanced technology. Upcoming strategies for U.S. based manufactures are likely to include relations with developing Asian countries, including Japan, China, and South Korea.
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