The travel trailers market in North America is poised for significant growth, with projections estimating a market valuation of USD 34.7 billion in 2023, expected to more than double to USD 73.9 billion by 2033. This expansion is fueled by strong growth at a 7.90% compound annual growth rate (CAGR) over the forecast period. The market is currently responsible for 8% – 10% of total recreational vehicle (RV) sales in the region.
The North American travel trailers market has seen substantial growth between 2017 and 2021 and is expected to continue its upward trajectory. The ongoing demand for RVs, particularly travel trailers, reflects an increasing preference for flexible and customizable travel experiences. Families can now hit the road with fewer limitations and more comfort, without the constraints of traditional travel methods.
Key Drivers of Growth
Several factors are contributing to the rapid growth of the travel trailers market in North America. A key driver is the demographic shift, with the aging Baby Boomer generation opting for RV travel during their retirement years. At the same time, a younger demographic, particularly those aged 33-55, is increasingly embracing RVs as a way to combine work and travel, along with those seeking an alternative lifestyle in conversion vans.
Type of Travel Trailers Driving Industry Expansion
The motor home category is expected to lead the North American travel trailers market, securing a market share of 32.0% by 2033. Motor homes, which provide independence from traditional carriers, have been embraced by many, especially younger, higher-income consumers. The growing number of campsites and an increasing interest in outdoor activities like tailgating, business travel, and outdoor sports are all contributing to the surge in demand for motor homes.
Regional Insights
The United States is expected to dominate the market during the forecast period, with RV ownership widespread across families. As of 2023, over 9% of U.S. households own an RV, with travel costs significantly lower compared to traditional vacations. With the Baby Boomer generation nearing retirement, RV ownership in the U.S. is anticipated to continue rising, fueling growth in the travel trailers market.
In Canada, the market is also seeing positive trends, supported by the growing popularity of RV travel. Recreational vehicles contribute significantly to the Canadian economy, creating thousands of jobs and generating billions of dollars in economic value. The increasing interest in RV travel is expected to boost demand for travel trailers in the country.
Key Players in the North America Travel Trailers Market
- Thor Industries Inc.
- Winnebago Industries Inc.
- Forest River Inc.
- REV Group
- NeXus RV
- Triple E Recreational Vehicles
- Tiffin Motor homes Inc.
- Starcraft RV Inc.
- Heartland Recreational Vehicles
- Airstream
- Northwood Manufacturing
- Others
For instance
- In 2021, RVezy, a peer-to-peer marketplace for renting recreational vehicles (RVs) and campervans in North America, raised about $19 million (23 million Canadian dollars).
- Hymer USA, a Thor Industries, Inc. division dedicated to creating and selling recreational vehicles used in European customs, was established in January 2020.
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North America Travel Trailers Market by Category
By Exterior Construction Material:
- Wood
- Aluminum
- Others
By Type:
- Motor homes
- Class A Motor Homes
- Class B Motor homes
- Class C Motor homes
- Travel Trailers & Camper
- Conventional Travel Trailer
- Fifth-Wheel Travel Trailer
- Camping Trailer
- Folding Camping Trailer
- Truck Camper
By Countries:
- United States
- Canada
- Rest of North America
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