Recreational Vehicle Market Will Grow Rapidly In Coming Years
Recreational Vehicle Industry The global recreational vehicle market size is expected to reach USD 144.55 billion by 2030 and is to grow at a CAGR of 11.5% from 2023 to 2030, according to the new report from Grand View Research, Inc. The growing interest in outdoor activities such as fishing, camping, hiking, and visits to national parks has resulted in an increased demand for recreational vehicles (RVs). For instance, a survey conducted by Winnebago Industries, Inc., an RV manufacturer, in 2022 stated that around 82% of Americans engaged in outdoor pursuits such as camping, hiking at a distance from their residences, boating, or exploring state and national parks. This marks a noticeable rise from the figures of 60% in 2020 and 79% in 2021. Notably, the survey highlights the prominent role of the younger generation in propelling this surge, as the data suggests that GenZ individuals are more inclined to increase their outdoor engagement in 2023 in comparison to Gen X...