The global recreational vehicle battery market was valued at over USD 126 million in 2016 and is expected to surpass USD 232 million by 2021, according to a new market research report by Technavio
Technavio has announced its latest market research report on the global recreational vehicle battery market, under its energy storage portfolio. This market analysis discusses the chief drivers and key emerging trends and offers an analysis of primary retailers like East Penn Manufacturing, EnerSys, Exide Technologies, Johnson Controls, and Trojan Battery.
According to Thanikachalam Chandrasekaran, a lead analyst for energy storage research at Technavio, “The steady growth in the global tourism industry is fueling the demand in the recreational vehicle battery market. The rising number of young people gaining interest in traveling will propel the growth in this market. The growing popularity of travel adventures is encouraging the vendors to launch new modes of travel such as cars and bikes in the global market. Such increase in the number of new vehicles will boost the demand for recreational vehicle batteries in the market.”
The US, the UK, Australia, India, Germany, and New Zealand are the most popular tourist destination in the world. The people traveling to these countries are preferring recreational vehicles as a mode of transportation, which, in turn, will propel the growth of this market. The increase in the number of self-driven car tours will drive this market during the forecast period. Moreover, development in countries like China and India will have a positive impact on the growth of the battery market.
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Customized campaigns and benefits
The supply chain of the recreational vehicle tourism that includes vehicle/product manufacturers, dealerships/rental agencies, trip planners, business chambers, and destination managers drives the growth in this market. The vendors are investing aggressive marketing campaigns that consist of advertisements on television, online spaces, print media, promotional partnerships, robust social media presence, and websites to attract more consumers. These companies are also providing additional benefits to their consumers like specialized recreational vehicle insurance to increase their profitability.
Environmental and fuel efficiency benefits
The manufacturers of recreational vehicles are focusing on improving the fuel economy by concentrating on changes in the design and material of these systems. The vendors are launching new and innovative vehicles that are compact, lightweight, and aerodynamically designed with much higher fuel economy. The sellers are using lightweight and durable building materials with highly innovative designs to attract more consumers. The launch of small and mid-sized sport utility vehicles (SUVs) will attribute to the growth of this market over the next few years.
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This research report comprises a detailed analysis of market shares and sizes of the sub-sections and geography. An analysis of the top companies, including their business overview, market shares, key financials, etc. is offered in this industry report. This market study also delivers a thorough analysis of key drivers, challenges, and opportunities affecting this market.
A more detailed analysis is accessible in the Technavio study titled, ‘Global Recreational Vehicle Battery Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global UAV Market 2017-2021
- Global Golf Cart Market 2017-2021
- Global Automotive Battery Management System Market 2016-2020
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