The recreational vehicle industry, broadly a part of the leisure industry is characterized by cycles of growth and contraction in consumer demand, reflecting prevailing economic, demographic, and political conditions that affect disposable income for leisure-time activities.
The industry has been adversely affected by concerns about interest rates, fuel prices and diminished home equity financings for the last two years that resulted in a slow growth. In 2007 also, the sales pattern is expected to remain flat.
However, for the next five years, the industry is likely to see major growth driven mostly by the aging baby boomers. Although the younger generation below 35 years of age has posted the largest gains in ownership, the generation that is on the edge of baby boomer segment will be the main catalyst of growth for the industry.
The psychographics of the aging baby boom generation shows a strong desire for recreational activities especially spending time with family and friends. This generation also likes to travel a lot and they have a strong desire for freedom in leisure activities. Major recreational vehicle manufacturers like Fleetwood, Winnebago, Monaco, Thor Industries, National RV and Coachmen are devising their strategies to leverage the growing interest of this generation in recreation activities.
The report analyzes the recreational vehicle industry with focus on its two major segments - Motorized vehicles and Non-Motorized or towables. The growth of the overall RV industry and its segments has been analyzed in the report. Further, the ownership trends of RVs and the major factors that will drive the growth of the industry have been explained. The five leading companies operating in the industry - Thor Industries, Fleetwood, Winnebago, Monaco and Coachmen have been profiled and their strategies mapped. Further, the report also presents an assessment of the future of the recreational vehicle market.
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