$48 Billion U.S. Recreational Vehicles Industry Boosted by The Pandemic

June 28, 2023: Marketdata LLC, an leading independent market research publisher since 1979, has released a new study, an 87-page report entitled: The U.S. Recreational Vehicles Industry: Manufacturers, Dealers and RV Parks. The study traces the industry from 1980s to 2027 Forecast, examining the market’s size, growth, structure, buyer demographics and competition.

The industry posted record revenues and RV shipments (600,000 RVs) in 2021 during the Covid-19 pandemic, as consumers sought ways to vacation safely. This was a major turning point and stimulus for the industry, as a new and younger demographic was introduced to the RV lifestyle.

However, this pace was not sustainable and recreational vehicle shipments and sales began to decline in 2022. This decline continues into 2023, as RV prices and demand fall, but this is being mitigated as customers are now pursuing RV rentals, used vehicles, and RV sharing.

Major Findings:

Market Value… Marketdata estimates that the RVs industry had record revenues of $52.6 billion in 2021, a 33% increase over 2020. This was atypical, fueled by the pandemic. Sales moderated to $48.5 billion in 2022. The 9-year growth rate for RV dealer sales was 26.7% from 2012 to 2021. The industry is returning to more historical growth rates and is forecast to grow 6.2% per year from 2022 to 2027.

Demographics… As of March 2021, 11.3 million households owned an RV -- a 26 percent increase over the past ten years. Generation X and Baby Boomers make up the majority of RV owners, and those ages 35-54 are the most likely to own an RV. The average owner has an income of $68,000.

2023 Outlook… Sales of RVs are declining as prices fall and dealers work through their large inventories. Rising interest rates and economic uncertainty will continue to act as headwinds. The RV sector relies heavily on consumers’ affordability. A 10.3% sales decline is forecast for this year.

Competitive Market… The industry consists of 2,800 retail RV dealers and nearly 4,900 RV parks and campgrounds, that employ a combined 76,700 workers. RV manufacturers employ another 11,373 workers.

Metrics… The average RV dealer retail “establishment” (office, branch, physical site) had estimated receipts of $12.78 million in 2020, up 32% from 2017. The average RV park establishment had estimated receipts of $840,000 in 2020, up 22.8% from 2017.

Geographic… In 2020, the states with the largest number of RV dealer establishments included: California, Texas, Florida, Michigan, Oregon, and Pennsylvania, in that order. In the United States, about 85 percent of recreational vehicles sold are manufactured in Indiana, with most of that production in Elkhart County, which calls itself “the RV Capital of the World”.


“The industry is susceptible to boom and bust cycles, as RVs are discretionary purchases that can be postponed or cancelled. However, the outlook over the next four years is good, as RV parks grow in number and younger buyers embrace RV travel.”, according to John LaRosa.

About The Report

The U.S. Recreational Vehicles Industry: Manufacturers, Dealers and RV Parks, published in June 2023, is an independent “off-the-shelf” market research study. The study is 87 pages in length, with 30 tables and charts and 7 competitor profiles. It is priced at $1,295. A $99 Executive Overview is also available. A free Table of Contents is available by email or at www.marketdataenterprises.com. Contact: Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, (813) 971-8080. John LaRosa is available for interviews and presentations.

About Marketdata LLC

Marketdata is a 44-year old market research and consulting firm with a specialty tracking a wide variety of service sectors (commercial, personal services). It provides custom research projects. consulting, and phone consultations. Marketdata’s ubiased reports are used by trade associations, banks, private equity firms, start-ups, ad agencies, consultants, entreprenuers, and industry competitors (Fortune 500).

Contact Information

John S. LaRosa

Research Director

Marketdata LLC

(1) 813-971-8080

john@marketdataenterprises.com