DUBLIN, June 29, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Recreational Vehicle Battery Market 2017-2021" report to their offering.
The global recreational vehicle battery market to grow at a CAGR of 12.95% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global recreational vehicle battery market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the key vendors operating in this market.
One trend in market is increased ownership affordability. Consumers are purchasing more recreational vehicles as these vehicles help them save 59% on their vacation costs when compared with other forms of travel. In North America, recreational vehicles are not available just as first-hand purchases but also as pre-owned vehicles.
Like any other pre-owned car or truck dealers, pre-owned recreational vehicle dealers also provide a thorough pre-delivery inspection of used recreational vehicles. In addition, rental companies offer housekeeping packages to consumers for recreational vehicles at a nominal fee. Also, a growing number of campgrounds offer on-site recreational vehicle rentals. Many sellers offer deals not just on new recreational vehicle models but also on pre-owned units to ensure savings, along with easy financing for qualified borrowers.
According to the report, one driver in market is growth in global tourism. The tourism industry is booming and is expected to grow further during the forecast period. Today, traveling is gaining huge popularity among the younger generation. Not only are they spending more on traveling itself but also on new modes of travel such as cars and bikes.
The tourism industry in many countries such as the US, the UK, India, Australia, Germany, and New Zealand is experiencing huge growth as the number of international tourists grows. People who come to holiday in these countries prefer recreational vehicles as a mode of transportation. APAC has recorded the highest growth in international tourism during January-April 2016. International tourism in Southeast Asia increased by approximately 10% while East Asia and South Asia showed an increase of around 8% and 7%, respectively. On the other hand, tourism in the Americas and Europe increased by more than 6% and 4%, respectively.
Further, the report states that one challenge in market is rise in raw material prices. With the increase in the price of the raw materials used in the construction of recreational vehicles (such as copper, steel, aluminum, oil, gasoline, and rubber), vendors that need these supplies to put motorhomes and towable recreational vehicle units on the road are facing a challenge.
Copper, the price of which has increased three-fold in the past three years, is primarily used in a recreational vehicle's electrical system, radiator, plumbing, and air conditioning. On the other hand, the prices of rubber and aluminum have been fluctuating. The price of steel, affected by the growing prices of iron ore and oil, has also risen. Growing commodity prices are driven by the demand from booming and emerging economies such as China, the weaker dollar, a volatile stock market, and, to a certain extent, speculators.
- East Penn Manufacturing
- Exide Technologies
- Johnson Controls
- Trojan Battery
Other prominent vendors
- Crown Battery
- Fullriver Battery USA
- Interstate Batteries
- MIDAC Batteries
- MPower (a subsidiary of TAG)
- Navitas Systems
- RELiON Batteries
For more information about this report visit https://www.researchandmarkets.com/research/ph83nr/global
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SOURCE Research and Markets