According to the research report titled ‘Asia Pacific Recreational Vehicle Market Forecast 2027 By Vehicle, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific recreational vehicle market is anticipated to be worth USD 15 billion by the year 2027.

Report findings suggest that Asia Pacific recreational vehicle market growth is attributed to growing disposable income of individuals, formation of camping associations to encourage people for outdoor activities, as well as supportive guidelines of state tourism department.

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For those unaware, recreational vehicles or RVs are frequently used by people who enjoy travel and adventure. These vehicles have various features present inside it such as adequate accommodation facilities. RVs include caravans, camper vans, and motorhomes, to name a few.

On the downside, shifting patterns in consumer behavior towards money saving and essential buying, as well as financial limitations, shortage of skilled personnel for the manufacturing of the vehicle, and lack of raw material have hampered the marketplace lately.

Notably, the COVID-19 outbreak caused restriction movements due to worldwide lockdown measures and social distance practices to avoid the spread of the virus, which in turn stifled Asia Pacific recreational vehicle industry expansion in the recent past. However, dropping number of positive COVID-19 cases is slated to expand the sale of recreational vehicles, thereby contributing towards market remuneration during the forecast years.

Speaking of vehicle type, the travel trailers segment is poised to grow significantly over the analysis period, owing to their inexpensive nature and availability of various floor layouts. Also, customizability and easy to install nature of these vehicles will promote their adoption.

Geographically, China and Japan markets are slated to expand in the coming years, due to the efforts made by these countries in promoting the concept of RVs by renting out the product in order to explain its way of working to the people in the country.

Tiffin Motorhomes Inc., Thor Motor Coach, Starcraft RV, Pleasure-Way Industries Ltd., REV Recreation Group, Skyline Corporation, Redwood RV, Keystone RV Company, Kropf Industries Inc., K-Z Inc., Highland Ridge, Heartland RV, Grand Design RV, GMC MotorHomes, Forest River Inc., Fleetwood Limited, Entegra Coach, Dutchmen RV, DRV Luxury Suite, Cruiser RV, Crossroads RV Inc., Columbia Northwest Inc., Bison RV Center, and Airstream Inc. are the major players in Asia Pacific recreational vehicle industry.