Abstract
The recreational vehicle industry, broadly a part of the leisure industry is
characterized by cycles of growth and contraction in consumer demand,
reflecting prevailing economic, demographic, and political conditions that
affect disposable income for leisure-time activities.
The industry has been
adversely affected by concerns about interest rates, fuel prices and
diminished home equity financings for the last two years that resulted in a
slow growth. In 2007 also, the sales pattern is expected to remain flat.
However, for the next five years, the industry is likely to see major growth
driven mostly by the aging baby boomers. Although the younger generation below
35 years of age has posted the largest gains in ownership, the generation that
is on the edge of baby boomer segment will be the main catalyst of growth for
the industry.
The psychographics of the aging baby boom generation shows a
strong desire for recreational activities especially spending time with family
and friends. This generation also likes to travel a lot and they have a strong
desire for freedom in leisure activities. Major recreational vehicle
manufacturers like Fleetwood, Winnebago, Monaco, Thor Industries, National RV
and Coachmen are devising their strategies to leverage the growing interest of
this generation in recreation activities.
The report analyzes the
recreational vehicle industry with focus on its two major segments --
Motorized vehicles and Non-Motorized or towables. The growth of the overall RV
industry and its segments has been analyzed in the report. Further, the
ownership trends of RVs and the major factors that will drive the growth of
the industry have been explained. The five leading companies operating in the
industry -- Thor Industries, Fleetwood, Winnebago, Monaco and Coachmen have
been profiled and their strategies mapped. Further, the report also presents
an assessment of the future of the recreational vehicle market.
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