Did you know that there are over 3 million recreational vehicles in the United States? Recreational Vehicle (RV) ownership is on the rise, and it’s not just retirees who are buying them. You may have seen an RV parked at a campsite or by the side of a road and wondered what they were all about. The RV industry facts will show you why so many people love these unique homes on wheels!
First, let’s look at the state of the RV industry. From 2002 to 2016 there was a 33% increase in RVs for sale or rent, according to IBISWorld research. The number of households with an RV has also increased during that time frame by 25%. Today about one-third of Americans own an RV! That is over 83 million people who are thinking about buying their next camper van. Why all the excitement? Let’s take a closer look at what makes these homes on wheels so popular!
The first reason many families like owning an RV is because it offers adventure and flexibility. If your kids want to go camping you can pack up your motorhome and head out for some family fun without worrying about finding a hotel or reserving other accommodations. If you want to travel across the country, an RV is perfect for seeing all that America has to offer! Whether it’s road trips out west in your Airstream trailer, heading across the prairies with your pop-up camper van, or taking on winter weather in one of our many snowmobile trailers, RVs can accommodate any budget and itinerary .
One major bonus of buying an RV over traditional housing is their unbeatable affordability ! The cost of renting campers varies depending on what type of RV you choose as well as how much time you need it for. Many families opt to purchase towable RVs because even though they are more expensive than tents or cabins, they are still far more economical than buying a home. In fact, the average monthly payment on an RV is only $393! That’s less expensive than most insurance premiums and utilities, not to mention your morning coffee.
In addition to affordability, RVs are also easy to purchase because dealers make it simple for first-time buyers. Many sellers offer financing options with low interest rates as well as extended warranties that give you peace of mind while exploring our great country. Another reason why they’re popular among new campers? They come fully stocked! Most people don’t have room in their backyard for a pool or trampoline but many trailers include them right out of the gate. While some may be surprised by how much work goes into maintaining such large vehicles, there are plenty of benefits to having your home on wheels.
The RV Market’s Economic Impact
According to the Recreational Vehicle Industry Association, in 2016 there were over 11.66 million RVs on U.S roads, which is nearly double that of 2000’s number (approximately six million) and over five times greater than 1970’s estimate (a little less than two million). This translates into $36 billion dollars spent annually by RV owners for both transport costs as well as services provided along their journeys. On top of this economic impact are sales tax revenues paid at dealer facilities or other taxable destinations so it can be said with some certainty that the industry also generates state income taxes through retail sales alone.
RV Direct Wholesale & Manufacturing Stats
The RV industry has been around for over 100 years, and not much has changed in those decades. This can be attributed to the fact that each year there is a new generation of people who take it upon themselves to explore this great country via an RV vacation. However, as time goes by we continue to see trends emerge within different generations.
What Kind of RVs Are People Buying?
The RV industry is not the same as it used to be, and some of this change can be attributed to people buying different kinds of RVs. In 2017 for example:
Class A sales dropped by 22% from 2016 figures. This drop was offset however by an increase in the number of Class C units sold over those same time periods.
Class C sales increased by an impressive 17% in 2017. This is the second year in a row this class has shown major growth, and many people believe it’s because of their affordability over other RVs on the market.
The average age for both A and C units sold has gone up, though not dramatically. While the number of new RVers seems to be growing larger every year (see below), older buyers are still looking for ways to get out into nature without spending big bucks that could go towards things like retirement or college tuition fees instead.
The average price of an RV has also increased, though not to the same degree as older models. Manufacturers are starting to focus more on features than they used to in order to keep up with other RVs that may seem like better deals at first glance. There is still plenty of room for budget options however, even if it might be harder than you’d expect these days!
How Do People Use Their RVs?
RVs are used for weekend getaways, camping trips and vacations.
The most common use of an RV is to travel the United States.
Many people also use RVs as a primary residence.
Lastly, RVs are used for work purposes.
FAQ
How big is the RV industry?
The RV industry is huge. More than 15 million RVs are registered in the US alone, and that number has been increasing every year for decades.
Even more interesting is how much it contributes to other industries: there are 450 companies producing products specifically designed for motorhomes, over 100 campervan rental agencies, and more than 100,000 employees in the industry.
As a result, it’s no surprise that almost every state has an RV manufacturing plant – but California is home to the biggest one: Winnebago Industries.
In fact, if you’ve ever been on the road somewhere with your family or friends in tow and stopped at a rest stop alongside some random strangers’ motorhome parked there for the night, those people have probably traveled from as far away as Illinois just to enjoy being able to spend time within their own personal vacation vehicle! That speaks volumes about how popular they are these days. There was a time when owning such a large recreational vehicle wasn’t very practical because of its size and lack of maneuverability; now though RVs are smaller, lighter and much easier to drive.
The RV industry is a multi-billion dollar industry! In 2015, the RV industry was worth $16.5 billion dollars!
Who owns most of the RV industry?
The RV industry is not controlled by one owner. It’s a mixture of many companies who each own smaller sections of the market, and only control certain parts or products within it. For example, there are two main competitors for motorized RVs: Winnebago Industries Inc., which owns the brands Starcraft and Grand Design, as well as Thor Motor Coach Holdings LLC (formerly Monaco Coach Corp.), which includes vacation vehicle manufacturers such as Holiday-Rambler Corporation and now Forest River. Although these two major players have been in competition with each other for quite some time now, they both still make up less than 20% of the total market share due to all their small ‘subsidiary’ divisions that fall.
What are the worst RV brands?
The worst RV brands are the ones that often have quite a few recalls. They’re also usually known for not having great customer service, and they might even sell their RVs at extremely low prices to get more customers who will then find out what poor quality they actually bought.
Who is the largest RV manufacturer?
RV industry facts show that the largest RV manufacturer is Forest River.
What state sells the most RVs?
It is estimated that over one million RVs are sold every year. Among them, Florida sells the most per capita in America.
The state of Florida had a population of 20.61 million people as of 2017, and an average household size among them was around two persons per home. With this information in mind, it isn’t surprising that the Sunshine State is estimated to sell over one million RVs every year. RV manufacturers also tend to open larger facilities closer to major metropolitan areas such as Miami or Tampa – where many adventure seekers live – so they can market their products more effectively at trade shows and conventions held throughout the United States.
Conclusion
In conclusion, RV Industry Facts have been revealed. This data has shown that the industry is one of the most profitable in America. In this infographic you will see some interesting facts about how big it actually is and who are some key players within the market. After reading through these infographics don’t forget to share them with your friends! They’ll love to know what they’ve missed out on all these years…