RV market seen doubling to $117B by 2031

Allied Market Research says the global recreational vehicle market will rise from $57.3 billion in 2021 to $117 billion by 2031, led by motorhomes, personal use and North America. The report points to electrification, rental demand and advanced features as growth drivers, while raw-material costs remain a headwind.

Why it matters: - The recreational vehicle market is projected to nearly double by 2031, signaling sustained demand across consumer and commercial uses. - Growth in rentals, electrification and feature-rich RVs could reshape product mix and buying patterns over the next decade.

What happened: - Allied Market Research published a report on the global recreational vehicle market covering type, application, competition, trends, value chain and regional outlook. - The market was valued at $57.3 billion in 2021 and is projected to reach $117 billion by 2031. - The report forecasts a 7.6% compound annual growth rate from 2022 to 2031. - The report was released June 11, 2026. - Allied Market Research included sample and purchase links for readers seeking the report: Sample pages and purchase options.

The details: - Electrification is one of the main forces supporting market growth. - Recreational vehicle rental services are also expanding on the back of recreational and leisure activity demand. - Volatile raw-material costs are expected to restrain growth. - Demand for advanced features is expected to create new opportunities. - Motorhomes held more than three-fifths of total market revenue in 2021. - Motorhomes are projected to post the fastest type-level growth at 8.1% CAGR through 2031. - Motorhome demand is supported by storage space, kitchen units, beds, an engine and a driving chassis. - Towable recreational vehicles are another major segment covered in the report. - The personal-use segment held nearly three-fifths of market revenue in 2021. - Personal RV demand is driven by outdoor recreational events. - The commercial segment is projected to grow fastest at 9.0% CAGR, helped by tourism-related camping use. - North America held more than two-fifths of global market revenue in 2021. - North America is expected to keep the largest regional share through 2031, supported by heavy motorhome purchases in the U.S. - Asia-Pacific is projected to be the fastest-growing region at 9.3% CAGR, supported by rising penetration, population growth and higher disposable income. - The report also covers LAMEA and Europe. - Leading RV players listed in the report include Winnebago Industries, Tiffin Motorhomes, Thor Industries, Oliver Travel Trailer, Newmar Corporation, Jayco, Gulfstream Coach, Forest River, Entegra Coach, Cruiser RV, Coachmen Recreational Vehicle Company and Airstream.

Between the lines: - The report points to a market split between established North American demand and faster expansion in Asia-Pacific. - Product features matter more as buyers weigh comfort, mobility and convenience against higher input costs. - The competitive field appears to be pushing expansion, new products, alliances and joint ventures to defend share.

What’s next: - Allied Market Research expects the commercial RV segment to keep outpacing the broader market. - Asia-Pacific adoption is likely to remain a key growth watchpoint through 2031. - Companies in the space are likely to keep leaning on product launches and partnerships to expand reach. - The report says stakeholders can use its segment, portfolio and performance analysis to shape future strategy.