Park Model RV

Park Model RV

A Park Model RV, also known as a tiny home or park model trailer, is a type of recreational vehicle that is designed to be used as a temporary or permanent residence. These RVs are typically smaller and more compact than traditional RVs, and they are designed to be towed by a vehicle. Changes in consumer preferences are driving the growth of the park model RV market. As more people seek out unique and affordable housing options, park model RVs have become increasingly popular. Additionally, the trend towards minimalism and simplicity has also contributed to the growth of the Park Model RV market, as these RVs are designed to be compact and efficient.

The Park Model RV Market is expected to grow at a strong CAGR of 4 % during the forecast period owing to the cost of traditional housing continuing to rise, making park model RVs an increasingly attractive option for those looking for affordable housing. Additionally, as the population continues to age, more people are looking for affordable and convenient housing options, such as park-model RVs. This has led to an increase in demand for these RVs, as more people are interested in owning one as a vacation home or as a retirement option. For instance, in May 2022, Champion Home Builders, a subsidiary of Skyline Champion Corporation announced that it expected to close by the end of May on the acquisition of substantially all of the operating assets of Manis Custom Builders, Inc. and related companies (collectively, “Manis”), located in Laurinburg, NC, for approximately $10 million.

• Based on gross weight vehicle, the market is segmented into 1000 Lbs < Weight <10000 Lbs, 10000 Lbs < Weight < 11000 Lbs, 11000 Lbs < Weight < 12000 Lbs, and Others. Amongst these, the 1000 Lbs < Weight <10000 Lbs segment dominated the market in 2021. This is because These park models are light enough to be towed by most vehicles, making them accessible to a wider range of potential buyers. This is especially important for those who do not own a heavy-duty vehicle or who live in areas with weight restrictions on roads. Additionally, The lower weight of these park models means that they require less materials and labor to manufacture, which can result in lower production costs. This can translate into lower prices for consumers, making these park models more affordable than their heavier counterparts.
• On the basis of end-users, the market is bifurcated into residential and commercial. The commercial segment held a major share of the park model RV market in 2020 due to the ability of park model Rv to be used in a variety of settings, such as vacation rentals, hotels, and resorts. They can provide temporary housing for guests, as well as serve as event spaces, offices, or even restaurants. This versatility makes park model RVs an attractive option for businesses looking to expand their offerings. Additionally, park model RVs can be a cost-effective alternative to traditional hotel rooms or buildings. They are typically less expensive to purchase and maintain than traditional structures, making them a more affordable option for businesses looking to expand their operations.
• For a better understanding of the market adoption of the Park Model RV industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. North America has significant share in the park model RV market because of strong tradition of RVing, with many people owning traditional RVs or campers. This has created a strong market for park model RVs, as they offer a more affordable and compact option for those who want to enjoy the RV lifestyle.North America has a large and aging population, which has led to an increased demand for affordable and convenient housing options. Park Model RVs offer an attractive option for those looking for a low-maintenance and easy-to-maintain housing option.Finally, North America has a strong economy and a high standard of living, which has made it easier for people to afford the cost of a park model RV.
• Some of the major players operating in the market include Cavco Industries, Inc.,, Thor Industries, REV Group, Gulf Stream Coach, Skyline Champion Corporation,Fairmont Homes, Silvercrest, Instant Mobile House, Champion Home Builders, Inc., Highland Homes Manufacturing, Recreation By Design, and Woodland Park.