Truck Campers Market Forecast and CAGR
According to the latest study by Fact.MR, truck market is expected to witness decent growth over the forecast period (2021-2031).Constant demand from the recreational sector coupled with the change in preference of the millennial population will drive the sales in the long run. The business shall witness absolute $ opportunity of US$ 230Mn during the similar time frame.
What is Driving Demand of Truck Campers?
The rising popularity of truck campers among the millennial population coupled with high disposable income is bolstering the demand. For instance, according to 2017 North American Camping survey, millennial accounted for about 38% of the total campers. Rising popularity of camping and options such as truck camping would provide substantial boost to the market in forthcoming years.
Moreover, automakers are adopting ways to implement AGL (Automotive Grade Linux) in infotainment systems to promote connected vehicles concept. Additionally, the development and deployment of high-end infotainment systems have been identified as a key driver for the surge in sales.
For instance, Garmin International recently introduced the launch of RV-BBT601 that comes with the best in class navigation system, wireless connectivity and a 6" touch screen display. These key technological developments will have a positive impact on the industry thus propelling market penetration in the coming years.
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Penetration of Solar Technology to Set the Market growth for Truck Campers
Unlike gasoline, the use of solar panels can significantly cut the cost of travelling as the need for fuel refilling reduces considerably. Moreover, since the use of solar technology is environmentally friendly, the eco-conscious population are opting for either fully solar equipped vehicles or rather hybrid vehicles.
Additionally, with the developments in design specifications such as lightweight thin films, it has become relatively easy to carry without impacting the overall efficiency of the truck campers.
Moreover, market players are relying on various technological advancements such as the development of truck campers that rely totally on solar energy without affecting the travelling experience. These advancements have been introduced keeping in mind the consumers that prefer zero maintenance and economic travel. Above stated factors have been identified as a new trend thus driving the truck campers sales.
Asia Pacific Truck Campers Market Outlook
Asia Pacific is projected to witness decent growth over the forecast period attributed to the rise in the millennial population, growing disposable income change in spending behaviour of consumers along high economic growth in the region.
The Asia Pacific in the past few years have emerged as a manufacturing hub with countries like China and India speeding their manufacturing capabilities. Moreover, technologically advanced countries like China and South Korea are looking to invest more in untapped markets to expand their operations.
Recently, India’s first extendable motor home Finetza was launched by Pinnacle vehicles which come equipped with amenities such as USB ports, Wi-Fi connections and a small cafeteria.
Apart from the above factors, various other key developments have been observed across the region sending a positive outlook to the truck campers industry.
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North America Truck Campers Market Outlook
North America currently dominates the truck camper production and sales owing to the presence of key market players along with the growing trend of RV lifestyle. Additionally, well established on-site truck camper rental mechanism coupled with the change in lifestyle of people is projected to drive the sales in the region.
Moreover, over the past half-decade truck camper industry has seen a significant surge in sales attributed to the constant increase in recreational activities especially among the millennial population. For instance, according to a survey by Recreational Vehicle Industry Association, a growth of 17.2% was seen in 2017 as compared to 2016.
Above mentioned developments in the RVIA sector is anticipated to provide consistent growth to the truck campers sales over the next decade.
Who are the Key Manufacturers and Suppliers of Truck Campers?
Some of the leading manufacturers and suppliers of truck campers are
- Adria Mobil
- Trillium Trailers
- Pinnacle Vehicles
- Roadtrek Motorhomes/Erwin Hymer Group
The aforementioned players have mainly relied on organic growth strategies such as product launches to expand their overall market share. For instance, Dethleffs recently launched an electric truck camper which runs solely on solar power thus eliminating the need for charging stations making it more economical and eco-friendly.
An Adaptive Approach to Modern-day Research Needs
Truck Campers Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Hard Side Truck Campers
- Adventurer Campers
- Arctic Fox Campers
- Bigfoot Campers
- Capri Campers
- Pop-Up Campers
- Hallmark Campers
- Phoenix Campers
- Individuals / Groups
- Camping Companies
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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