Recreational Vehicle Manufacturing
Description
Companies in this industry manufacture campers, motor homes, and travel trailers. Major companies include Forest River, REV Group (owner of the Fleetwood and Monaco brands), Thor Industries, and Winnebago (all based in the US), along with Hymer (Germany), Swift Group (UK), and Trigano (France).
The global recreational vehicle manufacturing market is forecast to grow nearly $70 billion by 2032, at a compound annual growth rate (CAGR) of 4.2% during the forecast period between 2024 and 2032, according to Fortune Business Insights. The rising tourism industry is boosting market growth and demand for RVs in countries such as China, Germany, the US, the UK, and Australia.
The US recreational vehicle (RV) manufacturing industry consists of about 800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $20 billion.
COMPETITIVE LANDSCAPE
Demand is driven by consumer income and demographics, as RV buyers are mainly middle aged and older. The profitability of individual companies depends on the ability to design desirable products. Large companies have economies of scale in production and distribution. Small companies can compete successfully by concentrating on a product line or by specializing in components. The US industry is highly concentrated: the 20 largest motor home manufacturers account for more than 95% of all the industry revenue; the top 50 travel trailer manufacturers generate about 90% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Conventional travel trailers account for about 40% of the industry revenue, followed by other recreational vehicles about (20%), light truck horse trailers (about 15%). Other products include light truck boats (about 5%). Some manufacturers also make "park" models, which are essentially small, manufactured homes that require hookups and are intended to be moved, but only occasionally.
Motor homes are complete, self-propelled units. Travel trailers are complete units that must be towed by a car or truck. "Fifth-wheel" trailers are towed from a mount in a pick-up truck and extend over the bed of the truck. Campers, or folding trailers, have walls that unfold to form the camping unit. Within the motor home segment, Class A models are full-size units built on a medium-duty truck chassis, while Class C models are smaller units built on a van chassis. Motor homes range from 16 to 40 feet long.
RVs are built on truck or van chassis bought from suppliers such as Ford and Freightliner. A chassis basically includes the frame, suspension, exhaust system, brakes, engine, transmission, rear axle, fuel system, wheels, and tires. A chassis with engine is the largest single manufacturing cost for motor homes. Aluminum panels and extrusions, insulation, plumbing, wiring, cabinets, and appliances are also major cost items. Large manufacturers produce many of the components themselves and may also supply other manufacturers.
The major manufacturers produce several models and sizes of RVs under various brand names. Production facilities operate assembly lines that can be easily reconfigured to produce different models. Production runs are small. Production usually starts after dealer orders are received.
The global recreational vehicle manufacturing market is forecast to grow nearly $70 billion by 2032, at a compound annual growth rate (CAGR) of 4.2% during the forecast period between 2024 and 2032, according to Fortune Business Insights. The rising tourism industry is boosting market growth and demand for RVs in countries such as China, Germany, the US, the UK, and Australia.
The US recreational vehicle (RV) manufacturing industry consists of about 800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $20 billion.
COMPETITIVE LANDSCAPE
Demand is driven by consumer income and demographics, as RV buyers are mainly middle aged and older. The profitability of individual companies depends on the ability to design desirable products. Large companies have economies of scale in production and distribution. Small companies can compete successfully by concentrating on a product line or by specializing in components. The US industry is highly concentrated: the 20 largest motor home manufacturers account for more than 95% of all the industry revenue; the top 50 travel trailer manufacturers generate about 90% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Conventional travel trailers account for about 40% of the industry revenue, followed by other recreational vehicles about (20%), light truck horse trailers (about 15%). Other products include light truck boats (about 5%). Some manufacturers also make "park" models, which are essentially small, manufactured homes that require hookups and are intended to be moved, but only occasionally.
Motor homes are complete, self-propelled units. Travel trailers are complete units that must be towed by a car or truck. "Fifth-wheel" trailers are towed from a mount in a pick-up truck and extend over the bed of the truck. Campers, or folding trailers, have walls that unfold to form the camping unit. Within the motor home segment, Class A models are full-size units built on a medium-duty truck chassis, while Class C models are smaller units built on a van chassis. Motor homes range from 16 to 40 feet long.
RVs are built on truck or van chassis bought from suppliers such as Ford and Freightliner. A chassis basically includes the frame, suspension, exhaust system, brakes, engine, transmission, rear axle, fuel system, wheels, and tires. A chassis with engine is the largest single manufacturing cost for motor homes. Aluminum panels and extrusions, insulation, plumbing, wiring, cabinets, and appliances are also major cost items. Large manufacturers produce many of the components themselves and may also supply other manufacturers.
The major manufacturers produce several models and sizes of RVs under various brand names. Production facilities operate assembly lines that can be easily reconfigured to produce different models. Production runs are small. Production usually starts after dealer orders are received.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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