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Europe Recreational Vehicle Market Forecast 2027 By Vehicle (Motorhomes [By Class {Class A, Class B, Class C}, [By Fuel {Gasoline, Diesel}], Towable RVs [By Type {Travel Trailer, Fifth Wheel, Tent Trailer}]), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: July 2021 | Publisher: Graphical Research Report ID: GR1898 | Delivery : PDF  Request Free Sample

Europe Recreational Vehicle Market size crossed USD 25 billion in 2020 and is predicted to record a CAGR of around 11% between 2021 and 2027.

Growing consumer interest in recreational activities including camping and hiking along with a positive outlook of the tourism industry will support the adoption of recreational vehicles in Europe. According to a report published by VisitBritain, the UK is expected to report 11.3 million inbound visits in 2021, an increase of over 2% compared to 2020. A growing interest in exploring remote destinations in England and Scotland will proliferate the demand for recreational motorhomes.

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The rising adoption of technologically advanced electric recreational vehicles will augment the RV market demand in Europe. A rapid decline in battery costs and supportive government regulations, such as providing higher subsidies to OEMs for manufacturing electric vehicles, will create growth opportunities for the market. The presence of several charging stations and enhanced infrastructure will steadily increase the penetration of electric recreational vehicles. In response to the market demand, recreational vehicle manufacturers are launching electric models of motorhomes. For instance, in January 2019, WOF, a recreational vehicle manufacturer, partnered with ElektroFahrzeuge Stuttgart to launch the Iridium EV. Iridium offers a range of over 240 miles on a single charge.

The European recreational vehicle market witnessed a slowdown in the first half of 2020 due to the COVID-19 pandemic. Disruptions in the supply chain management and a shortage of raw materials & labor led to a decline in the production and launch of new recreational vehicles. The industry showcased recovery in the second half of 2020 due to the lifting of lockdowns and shifting preferences of consumers toward leisure & recreational activities.

Europe Market, By Vehicle

Towable RVs are poised to dominate the market share till 2027. The growing demand can be attributed to the lower prices of these vehicles compared to motorized recreational vehicles. Towable vehicles allow customers to use a truck or an existing panel to pull the trailer, thereby reducing the price of these vehicles.

Several market players, such as Winnebago, Hymer AG, and Pleasure-Way Industries, are emphasizing on new model launches with numerous amenities to enhance the customer experience. Additional features including stainless steel rock guards, extra window awnings, rear bumper storage, refrigerators, entertainment systems, and a spacious sleeping capacity for any family size, creating a strong demand for recreational vehicles. Furthermore, the growing trend of integrating progressive technologies, such as IoT, sensors, and automated control systems, into recreational vehicles is propelling the industry progression.

Competitive Industry Landscape

Key companies operating in the Europe recreational vehicle (RV) market include Swift Group, Hymer AG, Fleetwood RV, DRV Luxury Suites, Winnebago Industries, and Pleasure-Way Industries.

Companies are introducing electric recreational vehicles with upgraded features and superior batteries that comply with the EU regulation and cater to the growing customer demand. In January 2021, Hymer AG, launched the CrossOver camper van edition to meet the growing demand of European customers. The Hymer ML-T 570 crossover is equipped with off-road tires to provide higher traction and ground clearance in snow or mud. The crossover includes a solar installation with a 90-watt capacity, a smart battery system, a 152-liter refrigerator, a kitchen, and a spacious room for comfortable & self-sufficient living.

Frequently Asked Question(FAQ) :

The market revenue for recreational vehicle in Europe surpassed USD 25 billion in 2020 and will expand at a CAGR of around 11% between 2021 and 2027 with the rise in camping and hiking.
The towable RVs segment will garner considerable share in the Europe market owing to lower prices of these vehicles.
Major companies in the Europe industry are DRV Luxury Suites, Pleasure-Way Industries, Fleetwood RV, Hymer AG, Swift Group and Winnebago, among others.
The market growth for recreational vehicle in Europe dipped in Q1 2020 owing to disruption in the supply chain and a shortage of raw materials and will rise with gradual recovery.

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