New York, NY (PRWEB) March 13, 2014
The industry has recovered strongly from the recession, when tight credit access and depleted retirement funds dampened demand for motorhomes and RVs. The Canadian economy revived quickly from the recession, improving consumer confidence and allowing banks to resume lending for RV purchases. Additionally, a greater number of baby boomers, one the industry's principal market segments, have entered retirement in the five years to 2014. This age group's greater capacity for leisure and higher purchasing power make it a prime candidate for RVs and RV-related vacations. In the five years to 2014, industry revenue is expected to increase slightly at an annualized rate.
The industry has benefitted from the rising popularity of RV vacations, which have proven to be more cost-effective than other forms of leisure activities. RV vacations and related activities allow participants to save by combining travel and lodging costs. According to IBISWorld Industry Analyst Darryle Ulama “the outdoor culture is also strong throughout Canada and RVs are increasing in popularity among younger age groups, especially for couples and younger families.” The industry offers a range of RVs and motorhomes at different price points, reaching an expanding customer base. Growing demand has translated to strong revenue growth; in 2014, “industry revenue is expected to increase,” says Ulama. The number of industry operators has also increased as dealers enter the industry to take advantage of strong demand and rising popularity. In the five years to 2014, the number of industry enterprises is expected to increase at an annualized rate.
The Recreational Vehicle Dealers industry is characteristically fragmented, with no single operator claiming more than a tiny proportion of the industry's market share. RV dealers are poised for continued growth in the five years to 2019. Although the financial position of the baby boomer demographic remains unclear, their greater retirement numbers offer a wider market for RVs and motorhomes. Additionally, RVs will continue to rise in popularity among younger demographics, particularly as dealers introduce upgraded models and cleaner, “green” vehicles. Provincial governments are expected to upgrade national parks to accommodate a greater number of motorhomes and RVs. In the five years to 2019, industry revenue is expected to increase at an annualized rate.
For more information, visit IBISWorld’s Recreational Vehicle Dealers in Canada industry report page.
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IBISWorld industry Report Key Topics
This Recreational Vehicle Dealers industry sells new and used motorized or towed recreational vehicles (RVs). The industry also provides repair services and sells parts.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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