The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Mon Dec 19, 2016
The Persistence Market Research projects that the recreational vehicle market will witness a significant growth rate by 2021, as the report looks at the past few years to predict the next five years.
According to the Recreation Vehicle Industry Association, in 2013, the recreational vehicle industry shipped around 321,127 units, a gain of 12.4 percent over the last year. After the U.S. economy is recovering from economic recession, the market of recreational vehicles also has returned to a growth path. Currently, more than nine million American households own recreational vehicles, a 16 percent increase since 2001 and a 64 percent gain since 1980. The U.S. represents the largest market for recreational vehicles in the North America region due to a rebounding economy coupled with a healthier financing environment.
Some of the major drivers contributing the overall market growth of recreational vehicles include improved technology and high-tech features, higher consumer confidence and improved economy, continued growth in the 55-to-64 year-old cohort and increasing interest among younger customers. In the recent scenario, recreational vehicles are equipped with innovative features and cool gadgets, results in attracting new generations of buyers.
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