Park Model RV Market: Current Analysis and Forecast (2022-2030)

Report Description

Park Model RV Market was valued at USD 1.5 billion in 2021 & is expected to grow at a CAGR of 4.0% from 2022-2030. Moreover, with increasing awareness about the need and benefits of park model RV, spending on product development and R&D activities has increased globally. Burgeoning competition in terms of new players foraying into the park model RV landscape along with evolving governmental energy and emission policies, growing demand for park model RV energy management systems, and development of modern Rv are some of the major drivers for the increased penetration of park model RV devices among consumers, especially in the developed and developing countries. Additionally, the rising investments and product launches in the park model RV market are further contributing to the growth of the market. For instance, on April 4, 2023, ekō Solutions (“ekō”), a division of Land Betterment and a Fishers Indiana-based company specializing in state-of-the-art, eco-friendly dwellings unveiled its newest repurposed shipping container, the Gateway Park Model RV, at the recent Monster Energy AMA Supercross Championship at Lucas Oil Stadium in Indianapolis

Some of the major players operating in the market include Forest River, Thor Industries, REV Group, Gulf Stream Coach, Skyline Champion Corporation, Fairmont Homes, Silver crest, Instant Mobile House, Champion Home Builders, Inc., Highland Homes Manufacturing, Recreation By Design, and Woodland Park. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst gross vehicle weight, the 10000 Lbs < Weight < 11000 Lbs segment held a dominating share of the market in 2021.”

Based on gross weight vehicle, the market is segmented into 1000 Lbs < Weight <10000 Lbs, 10000 Lbs < Weight < 11000 Lbs, 11000 Lbs < Weight < 12000 Lbs, and Others. Amongst these, the 10000 Lbs < Weight < 11000 Lbs segment dominated the market in 2021. This is because Park model RVs within this weight range are compliant with various regulatory standards, which can help manufacturers meet safety and quality requirements. Additionally, Park model RVs within this weight range are generally more affordable than those that weigh over 12000 Lbs, which makes them an attractive option for budget-conscious buyers.

“Amongst end users, the wireless park model RV technology held the majority share of the market in 2021.”

By technology, the market is bifurcated into wireless park model RV technology and wired smart technology. Among these, wireless park model RV technology captured the majority share of the park model RV market in 2021. The major share of the wireless park model RV technology can be attributed to the capabilities and features offered such as mobile connectivity, connectivity regardless of location, and more by protocols such as ZigBee, Wi-Fi, Bluetooth, Z Wave, and others.

“North America dominated the park model RV market in 2021.”

North America dominated the park model RV market in 2021 with more than 44% share of the market due to the increased demand for park model RV due to technological advancements and overall consumer awareness. Considering the rapid growth prospects of the region in every aspect, growth is mainly attributed to favourable conditions of development in terms of the residential market and better affordability coupled with rising penetration of RVs in North America over the forecasted period.

Park Model RV 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 portfolios, 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 park model RV 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 Park Model RV Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global park model RV market were the three major steps undertaken to create and analyze the adoption of park model RV 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 park model RV 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 park model RV 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 park model RV 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, technology, and end-users. 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 park model RV market. Further, we conducted factor analysis using dependent and independent variables such as product, technology, and end-users of the park model RV market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the park model RV 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 park model RV 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 park model RV market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global park model RV 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 park model RV market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global park model RV market.

The main objective of the Global Park Model RV  Market Study

The current & future market trends of the global park model RV 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 park model RV 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 the gross vehicle weight and end-users.
• Define and analysis of the regulatory framework for the park model RV
• 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 park model RV 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 park model RV 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