The Recreational Vehicles (RV) generators market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing tax breaks for recreational vehicles in various countries across the globe. Furthermore, the global Recreational Vehicle (RV) generator market is primarily driven by the expansion of the tourism sector. Another factor that will propel the RV generator business is the expansion of the rental sector.
Recreational Vehicle generators are portable gas or diesel generators that are used to power appliances and replenish the battery of a recreational vehicle. Recreational Vehicle (RV) generators are mostly portable generators that run on gas, diesel, or propane to power appliances and recharge the RV’s batteries. Recreational vehicles (RVs) are cars that have enough space to provide luxury and comfort while on the road. The horse-drawn covered wagon was the inspiration for recreational vehicles.
Major Factors Driving Growth of The Global Recreational Vehicles (RV) Generators Market:
Major factors driving the growth of the global Recreational Vehicle generators market are an expansion of the tourism industry across the globe. Recreational vehicles now contain electric water heaters, larger water pumps, microwave ovens, and even televisions, among other things, when these have access to a reliable power source. As a result, demand for RV generators has soared worldwide.
Factors Restraining Growth of The RV Generators Market:
The tourism business in the United States has a significant tax burden, which, in turn, is anticipated to hamper the growth of the global Recreational Vehicle
Gas generators are becoming increasingly common. Also, the higher popularity of gas generators is one of the most recent trends that will gain traction in the RV generators market. Diesel generators produce a lot of noise and pollutants while running, which make these unsuitable for a variety of residential, commercial, and industrial applications. In addition, many firms are concentrating on the development of low-cost generators and alternatives for recreational vehicles, which presents several opportunities for key players in the global RV generators market.
Global Market Led by Fuel Used Segment:
Based on fuel used, the global Recreational Vehicle generators market is segmented into diesel, gas, and propane. The diesel segment was dominated by travel trailers and campers in 2020, and this trend is expected to continue over the next few years. The incorporation of new and innovative features by manufacturers to improve the home-on-wheels experience is a major factor contributing to the segment’s growth. The gas segment, on the other hand, is expected to lead, as gas-powered generators make less noise than diesel-powered generators. Furthermore, gas-powered generators for RVs have reduced the need for fuel refills during power outages and these emit very little or no carbon pollutants.
RV Generators Market Leading Application Segment:
Based on application, the global Recreational Vehicle generators market is segmented into travel trailers and campers, motorhomes, and others. Many large end-users have already begun to use gas generators as the manufacturing of gas-powered generators has increased, particularly in drilling and fracking. During the projected period, the travel trailers and campers segment will account for the majority of the global Recreational Vehicles (RV) generators market.