Major companies in the travel trailer and camper market include DethMers Manufacturing company; MasterCraft Boat Company; Jayco; Nu-Wa Industries and Miba Bearings US. The global travel trailer and camper market is expected to grow from $88.
New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Travel Trailer And Camper Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025347/?utm_source=GNW
51 billion in 2020 to $92.93 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $139.62 billion in 2025 at a CAGR of 11%.
The travel trailer and camper market consists of sales of travel trailers and campers and related services by entities (organizations, sole traders and partnerships) that produce travel trailers and campers designed to attach to motor vehicles, pick-up coaches (i.e., campers) and caps (i.e., covers) for mounting on pick-up truck and/or produce automobile, utility and light-truck trailers. Travel trailers do not have their own motor but are designed to be towed by a motor unit, such as an automobile or a light truck. The travel trailer and camper market is segmented into travel trailer and camper.
Asia Pacific was the largest region in the global travel trailer and camper market, accounting for 34% of the market in 2020. North America was the second largest region accounting for 29% of the global travel trailer and camper market. Africa was the smallest region in the global travel trailer and camper market.
Travel trailer and camper manufacturers are increasingly installing solar panels in travel trailers for the creation of a sustainable environment. A travel trailer traditionally depends on the use of noisy generators for its functioning. Solar panels do not make noise and are ultra-portable, lightweight. Solar panels can be easily mounted on trailers and convert sunlight into power which can be used for functioning of travel trailers. For instance, Renogy, Go Power and Zamp Solar are examples of companies manufacturing solar panels and related systems for travel trailers and campers.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the travel trailer and camper market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Transportation manufacturers depend heavily on supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to lack of parts and components. Also, sales of new automobiles decreased significantly due to decline in consumer demand as many countries impose lockdowns. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the travel trailer and camper market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy
Advances in technology are expected to be a continued driver of travel trailer and camper market growth in the forecast period. The global travel trailer and camper industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the travel trailer and camper market during the forecast period.
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