2019-2023 Global Recreational Vehicle Market Analysis Forecast April 2019 | Page 4

Global Recreational Vehicle (RV) Market with Focus on the US RV Market (2019-2023 Edition) There are many advantages of owning and travelling in an RV, such as flexibility, convenience, comfort, family appeal, affordability, lure of the outdoors and versatility. The people who cannot afford an RV or are not frequent travelers, the RVs are available on the rent. The RVs can be majorly segmented into Motorized (Motorhomes) and Towable RVs. Motorized RVs can be further sub segmented into Type A, Type B and Type C. The Towable RVs can also be sub segmented into Travel Trailer, Fifth Wheel Trailer, Folding Camping Trailers, Truck Campers and Park Model. A recreational vehicle park (RV stop) or train park is a spot where people with recreational vehicles can stay overnight. The facilities provided by RV parks are expanding and enhancing year on year. Another idea of RV resorts has likewise created as of late. The US RV market has grown at a healthy rate in the last few years, especially after recovering from US financial crisis and economic slowdown. The growth of the US RV industry is supported by increase in US GDP, developing consumer confidence index, and growth in travel and tourism in the US. Yet there are some challenges, which this industry faces, such as Extreme Leveled Competition, seasonal industry, etc.