Recreational Vehicle Market in North America 2018-2022| Installation of Solar Technology to Boost Growth| Technavio | Financial Buzz

Recreational Vehicle Market in North America 2018-2022| Installation of Solar Technology to Boost Growth| Technavio

Technavio
analysts forecast the recreational vehicle market in North America to
grow at a CAGR of more than 8% during the period 2018-2022,
according to their latest market research report.

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Technavio has published a new market research report on the recreational vehicle market in North America from 2018-2022. (Graphic: Business Wire)

The installation of solar technology in recreational vehicles (RVs) is
one of the major trends being witnessed in the recreational
vehicle market in North America. Conventionally, the engines of
the RVs or external generators were used to power electrical appliances
fitted in RVs. However, these power sources are not economical and
environment-friendly as they would require fossil fuels and contribute
to air and noise pollution, thereby requiring additional costs.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

In this report, Technavio analysts highlight the substantial cost
savings by using RVs over conventional modes of vacation as a key factor
contributing to the growth of the recreational vehicle market in North
America:

Recreational vehicle market in North America:
Substantial cost savings by using RVs over conventional modes of vacation

There is a growing preference for road trips and vacations in the market
in the recent years. Planning the finances involved in the trip is also
essential. At present, several options are available that would help
consumers save money on trips and owning an RV is one such option that
would help consumers save costs when compared with other models
available for road trips.

According to a senior analyst at Technavio for automotive
manufacturing, “There are three major options that help in the
cost-effective planning of road trips, including driving own car and
staying at a hotel, owning an RV, and renting an RV. It has been
comprehended that owning an RV is typically the best option for
cost-effectively planning a trip. In addition, as RVs combine both
staying and traveling, they allow individuals to travel and stay at
their convenience and time.”

Recreational vehicle market in North America –
US tops the market

This market research report segments the recreational vehicle market in
North America by RV type (towable RVs and motorized RVs) and geography
(the US and rest of North America). It provides an in-depth analysis of
the prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

The US was the leading region for the recreational vehicle market in
North America in 2017. It accounted for a market share of approximately
91%. This region is expected to dominate the market throughout the
forecast period.

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
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spanning across 50 countries. Their client base consists of enterprises
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competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180622005677/en/