Recreational Vehicle Rental Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||1008406|
|出版日期||內容資訊||英文 90 Pages
|露營車 (RV車)出租的全球市場-成長，趨勢，COVID-19的影響，及預測(2021年∼2026年) Recreational Vehicle Rental Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
|出版日期: 2021年05月13日||內容資訊: 英文 90 Pages||
The Recreational Vehicle Rental Market was valued at USD 421.3 billion in 2020 and is expected to reach USD 512 billion by 2026 registering a CAGR of about 7% during the forecast period (2021 - 2026).
With the slowdown in world economic growth, the Recreational Vehicle Rental industry has suffered a certain impact, but still maintained a relatively optimistic growth in market because of increased online bookings. For instance, Outdoorsy witnessed a 1,500% surge in bookings from the lowest booking day amid the coronavirus pandemic to the highest booking .The company's popularity has only continued to trend upwards.
The global recreational vehicle market is set to experience favorable growth driven by factors such as increasing youth population, rising aging population, development of tourism industry and growing popularity of Recreational Vehicle camping. Further, the scope of growth for this market will be broadened by advent of electric recreational vehicles, proliferating RV rental services demand and technological advancements.
While the spread of virus and limitations for travel and transportation is stringent, the demand for RV is expected to grow across geographies in 2020. Further, the increasing demand for road trips as a getaway from quarantine would also boost growth. The post lockdown period is likely to witness the rise in the number of first-time buyers.
Global Recreational Vehicle market is expected to witness rapid growth, especially in North America and Europe as these vehicles provide a reliable and personal way to travel. It is considered as the safest travel alternative during the coronavirus pandemic, while maintaining social distance norms and hygiene conditions for safety.
Increasing Demand For Online Rental Booking Services
Renting an RV in a good condition with desired features at a low cost is the most preferred choice of many customers. The facility of comparing various RV rental prices offered in an area has always been the growing concern among the majority of customers. Thus, to help the customers regarding the availability of RV rentals in an area, platforms, like RVshare.com and Outdoorsy, have been widely operating in the market.
The above platforms provide a one-stop-shop for customers who are looking for RV rentals. These platforms share the rental opportunities to the customers from the above available groups and provide RV booking either through online or face-to-face meetings. The growing RV rental information platforms provide ease of booking an RV, which has further driven the RV rental market.
Local travel and outstation applications are expected to witness substantial growth over the next few years. Lack of route flexibility and standard timings of public transport services have resulted in shifting preference of travelers toward car rental services for day-to-day travels, majorly propelling the market. Also, industry players are focusing on providing the option of choosing vehicles as per customer convenience.
The outstation segment is poised to register high growth through 2025 owing to increasing demand for such services for weekend travels and inter-state business transport requirements.
North America To Represent the Largest Market During The Forecast period.
North America is nurturing a trend of becoming more eco-friendly, and when it comes to recreation, using eco-friendly recreational vehicles has become very popular in the region. Manufacturers are offering recreational vehicles with more fuel efficiency and improved design. Recent models of recreational vehicles are equipped with fuel-efficient diesel engines and lighter composites, which could improve the overall fuel efficiency and contribute to reduced emissions.The North America recreational vehicles market is slated to witness significant growth in the hybrid recreational vehicle segment.
North America has more than 370 national chain outlets and local RV dealers. These dealers are involved with state-of-the-art, as well as latest RV units. These sellers offer deals not just on new motorhome models, but also on pre-owned units for savings, along with easy financing for eligible and legitimate borrowers.
The Canadian government recommended investing in tourism policies, such as advertising and messaging, which is expected to promote domestic RV dealers over foreign RV dealers in the market. There are more than 4,300 campgrounds across Canada. Thus, the investment in camping and RV infrastructure is likely to improve the tourism industry and the Canadian RV market.
Over the years, the renting process of a new RV has become easier. In addition, the RV rentals are offering lucrative deals to lure customers. With the new models and technologies arriving in the market every year, customers have a plethora of options to choose from. Every new trip can be made with a new RV model with different amenities. This factor provides the customers a new experience every time they rent a new type of RV.
The market is moderately fragmented, with numerous international and domestic companies operating across the globe. However, the industry is on the verge of consolidation with few players capturing the majority of the market. The primary focus of these players is on enhancing their services to gain customer base and maximize profitability. Owing to the growing demand for RV rentals in North America, few companies adopted a strategy to acquire other RV rental companies in the region to capture a major share in the North American RV rental market. For instance,
Some of the major players operating in the market are USA RV Rental, Apollo RV Rentals, Cruise America,McRent, EI Monte RV,McRent ,Fujii, and Cars Japan, among others.