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What is the US market size for RV sales and RV parks, and what are the growth rates of those markets?
Hello! Thank you for your request to determine the US market size for RV sales and RV parks. The short version is that the US market size for RV sales, for 2016, is $16.944 billion, and is expected to grow at a CAGR of 5.9% to 2020. The US market size for RV parks, for 2016, is $5.056 billion, and is expected to grow at a CAGR of 2.3% to 2021.
METHODOLOGY
I have scoured the Internet for articles, papers and statistics related to this subject.
Information on this industry is extremely fractured, mainly due to the unprecedented increase in demand since 2015. Therefore, only sources with data that could be corroborated with other reliable sources we used in any calculations and reporting.
FINDINGS
According to an article on NY Post, sales of RVs, in 2015, amounted to $16 billion, expected to grow by 5.9% to 2016. This would put the current market size for the sales of RVs at:
16 * 1.059 = $16.944 billion.
A report on IBIS World, on RV dealerships in the US, states that the US market size for these establishments is $18 billion, having grown at a CAGR of 4.4% over the period 2011 to 2016. This five year growth rate, combined with the growth rate from 2015 to 2016 indicates that the market will likely grow at a CAGR exceeding 4.4% and that the stated growth rate of 5.9% is more indicative of the market. The IBIS World report also goes on to state that the demand will continue to increase up to 2020, therefore we can assume the 5.9% growth rate for the period 2016 - 2020 to be statistically viable.
According to statista, the US revenue for RV parks in 2015 was $4.974 billion. IBIS World provides further information, on the overall campground and RV park market, stating the market has grown at a CAGR of 2.3% for the period 2011 to 2016. Therefore we can calculate the 2016 market size for RV parks to be:
4.974 * 1.023 = $5.088 billion.
BIS World states that the industry is set to continue its growth rate over the reported period, to 2021.
CONCLUSION
To wrap it up, the US market size for RV sales, for 2016, is $16.944 billion, and is expected to grow at a CAGR of 5.9% to 2020. The US market size for RV parks, for 2016, is $5.056 billion, and is expected to grow at a CAGR of 2.3% to 2021.
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