US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Continuing Demand for RVs Spurs Manufacturers to Expand Production

We have frequently mentioned on this site how the pandemic has increasingly sent Americans outdoors for their entertainment. Homeowners looking to get out of their homes – while meeting guidelines for minimizing the spread of COVID – have increased the amount of time spent outside. Consumers’ spending habits have reflected this, as demand for a wide range of outdoor products – such as pools, decks, playground equipment, and other items – have surged.

Among the products that have seen the largest increase in sales during the pandemic are recreational vehicles (RVs). This is not surprising, as these craft allow families and other groups of people to enjoy the outdoors while also providing a higher level of comfort than simple camping. Indeed, manufacturers of these vehicles – recognizing that many of these buyers are more affluent – have added amenities to their RVs, such as additional cabinetry, more extensive bathroom facilities, and more attractive interior components.

Demand for RVs has been so strong that Thor Industries – a leading RV producer – announced plans to build two new RV manufacturing sites in Michigan. These facilities, which will employ more than 400 people, will complement Thor’s existing network of production sites, and increasing the company’s RV manufacturing capacity.

Freedonia Group experts will continue to monitor the US RV market and see how manufacturers cope with the increasing demand for the craft as the US gradually emerges from the depths of the COVID-19 pandemic.

For more information and discussion of opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research, especially in the Consumer segment and the Recreational Vehicles in the US study. Freedonia Custom Research is also available for questions requiring tailored market intelligence.