Asia Pacific Recreational Vehicles Market will see growth over 7% up to 2024

May 2, 2019 | Member News

From Fractovia.org

 

Recreational vehicles market in the Asia Pacific Recreational Vehicles Market (APAC) is expected to witness significant growth at around 7% over the forecast period. This can be credited to the significant growth of the middle-class population and increasing emphasis on development of tourism in countries including China, India, Thailand, South Korea, Australia, and Japan. According to the U.S. Department of Commerce, China had around 56 active RV manufacturers contributing significant share of the nation’s RV market, as of 2016.

The Recreational Vehicles Market for Towable RVs accounted for more than 900 thousand units in 2017 and is expected to hold its dominance through the forecast period. Low fuel consumption, easily towable units, lower maintenance & insurance costs, and depreciation value are some of the major benefits of the towable RVs. Advent of truck campers that can be easily towed with the help of SUVs are among the chief products gaining traction. Conventional travel trailers are expected to dominate the recreational vehicles market through the forecast period, predominantly owing to the availability of RVs at the lower cost amongst the other available options.

 

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