Caravan And Motorhome Market 2021 - In-Depth Insights & Analysis By 2027

Javed02 Sep, 2021Business

Caravans are most commonly utilized for temporary accommodation when traveling. Besides, most people use them as their main residence due to benefits, such as easily towable units, low fuel consumption, lower maintenance and insurance costs, and depreciation value. The growth in travel schemes and the cost-effectiveness provided over other modes of travel are motivating customers to purchase recreational vehicles (RVs). For instance, millennials record for two-fifths of the total number of campers over the globe. Such popularity of camping between millennials is driving the acceptance of RVs. For instance, according to Thor Industries Inc., the company observed a 21.18% growth in the purchase of Thor traveller trailers from millennials between the year 2021-2027.