Recreational Vehicle Rental

Recreational Vehicle (RV) rentals can be described as hiring RVs on a temporary basis as a means of transport that is convenient and cheap to use during the trip. The different types of RVs are motorized RVs, travel trailers, fifth-wheel trailers, toy haulers, and others. These RVs are rented by families and groups of travelers, adventurers, nomadic workers, and even retirees who wish to explore on road trips. Nowadays, as many people are going out on tours, camping, and traveling through roads, there is a great demand for RVs in the market. Some of the drivers of the market include increasing disposable income, people shifting towards natural tourism, and easy, convenient online booking of motor homes.

The Recreational Vehicle Rental Market is expected to grow with a significant CAGR of 7.76% during the forecast period (2024-2032). The demand for RV rentals is increasing because road trips, tourism, and outdoor travel to conservation areas keep on rising among travelers who prefer personal transport, safety, and flexibility. As people nowadays have more disposable income compared to earlier, families, couples, retired individuals, and key adventurers are considering RV rentals as an affordable means of taking a vacation. Moreover, the work-from-home culture has inspired individuals to try RV life as a nomadic lifestyle, leading to huge demand for RV rentals globally. The option of renting an RV has also been made easier by current technological developments, such as the ease of using online platforms for booking purposes. Eco-tourism has also contributed to seeking environmentally friendly RV models and sustainable tourism. Also, there is an increased awareness regarding the fact that RV travel is more economical than hotel and airline traveling, making the market even bigger. This continuous growth is supported by the increasing number of rented RV services from across various regions, leading to significant growth in this market.

For instance, in November 2022, RVshare, which is the largest community for RV owners and renters, revealed in its “2023 Travel Trend Report”, that 88 percent of RV travelers report that they plan to travel as much or more in 2023 compared to last year. This trend shows the increasing interest of people worldwide in experiencing a road trip via RVs.

• Based on the vehicle type, the market is segmented into motorhomes, travel trailer, fifth-wheel trailer, pop-up campers, and others. Among these, the motorhomes market holds the largest share of the RV rental market as they have almost all the facilities that are required for living, sleeping, and cooking, due to which, most travelers opt for it to travel long distances and for a longer duration. These RVs are relatively easy to drive, contain numerous comforts and luxuries, and are easily available from most RV rental organizations, particularly in North America and Europe. However, the travel trailer market is expected to grow significantly in the future, as components of these vehicles are generally cheaper than the other ones, and they are lighter and suitable for towing by various types of vehicles. The reason that makes travel trailers preferable is that they can be disconnected from the towing motor vehicle, thus allowing users more mobility while on trips. Growing trends toward travel and recreation, especially among the economically conscious and young people, are other factors that will further enhance the demand for travel trailers. Also, further improvements in trailers in terms of comfort and available accessories will increase the number of customers preferring this RV in the coming years.
• Depending on the type of booking mode, the market is bifurcated into online platforms and offline agencies. Among these, the online platforms segment dominates the RV rental market due to ease of comparison, convenience, and discounts provided by the rental firms through websites and mobile applications. Technological advances such as the use of the internet, increased penetration of smart devices, and the ability of consumers to use ratings and feedback have boosted the impact of online platforms. Moreover, the online platforms segment is expected to maintain its dominance and show tremendous growth in the future due to the increasing utilization of Internet services to book trips around the world.
• Based on the end-user category, the market is bifurcated into couples, families, and others segment. Among these, the families segment serves the largest client base since the RVs are particularly popular with families going on a vacation since they offer adequate space as well as other accommodations that make group travel convenient and comfortable. Families find RVs suitable for traveling to national parks, camping grounds, or any vacation destination across the country or any other country, especially in countries of North America and Europe where road trips are more popular and safer. However, the Couples segment is expected to grow in the future as youngsters and retirees are likely to look for experiential and adventurous traveling with their partners. Additionally, the rising trend of working from anywhere encourages couples to consider long-term living in RVs, which aids the demand in this area around the world.
• For a better understanding of the market, the growth of the recreational vehicle rental market is analyzed based on their worldwide adoption in the tourism industry in regions such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. The Asia-Pacific region is expected to have the highest growth in the future. This growth is driven by increasing disposable incomes, the growing popularity of road trips, and rising tourism in countries like China, Australia, and India. Additionally, the government's investment in developing tourism infrastructure and promoting road tourism further supports market growth. The increasing trend of experiential travel among millennials and the availability of a wide range of RV options are also anticipated to boost the RV rental market in this region.
• Some of the major players operating in the market include Cruise America, Inc., Auto Europe, El Monte RV, McRent (The Rental Alliance GmbH), Indie Campers, Campervan North America LLC., Roadsurfer GmbH, Escape Camper Vans (E&A Companies), GoCamp AL, LLC., Outdoorsy Inc.