Caravan and Motorhome Market: Current Analysis and Forecast (2023-2030)

Report Description

Global Caravan and Motorhome Market was valued at USD 54 billion in the year 2022 and is expected to grow at a steady rate of around 8% during the forecast period 2023-2030. A caravan is any structure designed or equipped for human living that can be  transported from one place to another, usually by being pulled (or transported on a motor vehicle or trailer). Additionally, most people use these vehicles as their primary residence and it presents benefits, such as easily towable units, less fuel consumption, reduced maintenance and insurance costs and depreciation value. Combination of transportation and transient living spaces for outdoor recreation, travel, and leisure is referred as motorhome.

The major reason for expansion of this market is the rapid growth of the urbanization and rise in adoption for recreational rental services. Innovative and modern product launches by manufacturers also fuels the market growth. In addition, rise in income of customers to spend on recreational activities and travel act as other key factor propelling the market growth. Rise in demand for automobile industry and efficient travelling will enhance the market share during the forecast period. Furthermore, surge in travel and tourism industry across the globe is also driving the growth of the market.

THOR Industries, Forest River, Inc, Winnebago Industries, Inc., Hymer GmbH & Co. KG, Bürstner GmbH & Co. KG, The Swift Group, Dethleffs GmbH & Co. KG, Knaus Tabbert AG, Jayco, Inc., and Triple E Recreational Vehicles are some of the key players in the market. Several M&A’s along with product launches have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report

“Amongst product type, motorhome category to witness higher CAGR during the forecast period”

Based on product type, the market is segmented into caravan and motorhome. Among these, the motorhome segment is expected to witness higher growth during the forecast period owing to the rapid expansion of automotive sector across the globe. Motorhomes are equipped with amenities that can fulfill comfort and temporary living requirements of one or more people at a time depending on the size and customization of the vehicle, thus propelling the growth of the market. Furthermore, rapidly increasing number of registration of motorhomes will also drive the market growth during the period of forecast.

“Amongst end-user, direct buyer category to witness higher CAGR during the forecast period”

Based on end-use industry, the market is divided into direct buyers and fleet owners. Among them, the direct buyer category accounted for largest market share due to the growing demand for recreational vehicles. Another major factor contributing towards the growth of the market is the shift of campers, solo, group and family travelers to rental caravans and motorhomes across the world. Similarly, widespread availability of these vehicles is propelling the growth of the market. For instance, in August 2021, Mercedes-Benz introduced its new small van, “the new Citan,” at the Düsseldorf Caravan Salon. The stand also featured motorhomes based on the Mercedes-Benz Sprinter from Le Voyageur, Kabe, Eura Mobil, Alphavan, and Mercedes-Benz Marco Polo camper van models.

 “Europe to hold a significant share in the market”

The global caravan and motorhome market in Europe account for the significant share and is anticipated to maintain its position over the forecast period. Major factor driving the expansion of the market in the region is the availability of parking spaces for recreational vehicles. Rise in number of buyers of caravan and motorhome act as a significant role in the expansion of the industry in the region. In addition, high fuel efficiency, enhanced features and facilities, lower maintenance cost and high maneuverability would drive the market’s growth in the region during the period of forecast.

Caravan and Motorhome Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global caravan and motorhome market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Caravan and Motorhome Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global caravan and motorhome market were the three major steps undertaken to create and analyze the adoption of caravan and motorhome in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global caravan and motorhome market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the caravan and motorhome market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the caravan and motorhome market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the caravan and motorhome market. Further, we conducted factor analysis using dependent and independent variables such as various product type and end-user of caravan and motorhome. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the caravan and motorhome market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global caravan and motorhome market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the caravan and motorhome market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global caravan and motorhome market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global caravan and motorhome. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and distribution channel in the global caravan and motorhome market.

The main objective of the global caravan and motorhome market study

The current & future market trends of the global caravan and motorhome market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the caravan and motorhome market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type and end-user.
• Define and analysis of the regulatory framework for the caravan and motorhome industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the caravan and motorhome market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the caravan and motorhome market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team