Recreational Vehicle (RV) Rental Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.81 Billion |
| Market Size (2029) | USD 1.19 Billion |
| CAGR (2024 - 2029) | 8.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Recreational Vehicle (RV) Rental Market Analysis
The Recreational Vehicle Rental Market size is estimated at USD 0.81 billion in 2024, and is expected to reach USD 1.19 billion by 2029, growing at a CAGR of 8.11% during the forecast period (2024-2029).
The recreational vehicle rental market is expected to witness significant growth due to an increase in the population of young and old opting for RV touring. Moreover, the development of the tourism industry and the growing popularity of recreational vehicle camping are driving the demand for RV rental services around the globe.
RVs are significantly expensive to purchase, so a large population across North America, Europe, and Asia-Pacific is opting for RV rental services, eliminating the cost associated with vehicle purchase, insurance, and maintenance. The ease of accessing RV rental services and the increase in the number of RV rental service providers across the globe are attracting customers who have budget constraints and are unwilling to invest in purchasing new RVs.
The process of renting a new RV has become simpler over time. RV rentals offer lucrative deals to attract customers. Customers have many options, with new technologically advanced models arriving on the market every year using both online and offline modes of booking. Every new trip can be in a different RV model with other amenities. Companies are customizing their booking services to make it easy for RV customers.
Recreational Vehicle (RV) Rental Market Trends
Motorized RVs are the Largest Segment by Product Type
With travel and tourism gaining popularity across the globe, people are seeking unique and adventurous experiences. The desire for experiential and immersive travel experiences has increased demand for motorized RV rental. The shortage of available campgrounds in many countries has also contributed to the market for motorized RVs.
Further, motorhomes are witnessing significant growth in demand worldwide, especially in European countries. The increasing number of HNWIs and the availability of widespread parking areas for RVs are driving their adoption in North America and Europe. In 2022, Europe accounted for a significant share of the global caravan and motorhome market due to more motorhomes sold than North America.
The demand for recreational vehicles has boomed after the outbreak of the pandemic, as most people started planning their holidays while avoiding public transportation due to safety precautions. Several RV rental companies across Europe witnessed significant booking growth during the COVID-19 pandemic.
Moreover, over the past few years, the demand for Class B and Class C motorhomes has increased owing to their advantages. For instance, the population of the United States participating in camping has seen an upward trajectory over the last few years. In 2023, the number of users opting for camping in the United States stood at over 57 million, compared to around 55 million in 2022.
Additionally, various countries’ governments are investing in infrastructure development to attract tourism, which will positively impact motorized RV rental growth during the forecast period. For example, in June 2022, the Spanish government authorized a total expenditure of EUR 110 million from Next Generation EU funding to strengthen tourist competitiveness in numerous territories, including the Balearic Islands, Ceuta, and Melilla.
All these factors combined will positively boost the demand for motorized RVs during the forecast period.
Asia-Pacific Will be the Fastest Growing Region During the Forecast Period
While North America holds the largest recreational vehicle rental market share, Asia-Pacific is expected to be the fastest-growing region during the forecast period. Increasing disposable income and a growing middle-class population across economies like China, India, Japan, and Southeast Asian nations show greater interest in leisure and outdoor experiences.
In 2019, the Chinese tourism industry witnessed an 11.7% surge in revenue, reaching approximately CNY 5.7 trillion (~USD 796 billion). This growth occurred just before the onset of the COVID-19 pandemic. In 2022, the revenue from tourism in China reached around CNY 2 trillion (~USD 280 billion). Notably, most of this revenue during 2020, 2021, and 2022 was generated by domestic tourism, as strict travel restrictions have significantly impacted inbound tourism since February 2020.
Additionally, infrastructure development and road network improvements across APAC have enhanced accessibility to various tourist destinations, including remote and scenic locations that could be best explored through RVs. In India, the government's initiatives, such as the Swadesh Darshan scheme for developing tourist infrastructure and promoting domestic tourism, are the best examples of infrastructural development supporting tourism.
Moreover, the increasing availability of RV rental companies and platforms in the region and the introduction of innovative rental models and services contribute to the market's growth.
Recreational Vehicle (RV) Rental Industry Overview
The market is fragmented with numerous international and domestic companies operating across the globe. However, the industry is on the verge of consolidation, with few players capturing most of the market.
Some of the key players operating in the market include Outdoorsy Inc., Indie Campers, and McRent Europe. The RV tourism rental market is also witnessing an inflow of new entrants both at the regional and global levels.
Recreational Vehicle (RV) Rental Market Leaders
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Cruise America
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Apollo Tourism & Leisure Ltd (ATL)
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Outdoorsy Inc.
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RV Share
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El Monte RV
*Disclaimer: Major Players sorted in no particular order
Recreational Vehicle (RV) Rental Market News
- September 2023: RVshare announced a new agreement with Grounded, an electric RV company, to deliver a pioneering Electric Recreational Vehicle rental program to the Detroit market. These rentals are only accessible on RVshare, making Grounded RVs the platform's first electric vehicle fleet. This program, which the Michigan Office also sponsors for Future Mobility and Electrification (OFME), is expected to provide sustainable transport choices for travelers in a historically underserved community through a fleet of E-RVs that are expected to be available for daily hire.
- August 2023: RecNation, a US-based RV self-storage company, announced its partnership with Rvshare, an RV rental website in the United States, to solve pain points for RV owners and renters. As per the agreement, RecNationwill initiates its “White-Glove Rental Program," allowing RV owners to earn hassle-free rental income from their assets. RecNationwill provide professional management, including listing and marketing the RV rental, customer service, post-trip cleaning, and repairs.
- August 2023: Camper van rental company BromontCampervan, based in Bromont, Canada, announced the integration of two electric vans in their existing fleets to cater to environmental-conscious customers. Further, the company aims to convert its entire 14-van fleet to electric by 2025.
- June 2023: Roadsurfer secured a EUR 21 million (USD 22.2 million) investment from Austrian’s AG Invest and other existing investors to expand and increase the profitability of its RV rental business in both the United States and Europe.
Recreational Vehicle Rental Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increased Travel and Tourism to Fuel Market Demand
4.2 Market Restraints
4.2.1 High Maintenance cost of RV Rental Fleets
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value in USD Million)
5.1 Rental Supplier Type
5.1.1 Private/Individual Owners
5.1.2 Fleet Operators
5.2 Booking Type
5.2.1 Offline Booking
5.2.2 Online Booking
5.3 Product Type
5.3.1 Motorized RVs
5.3.1.1 Class A Motorhomes
5.3.1.2 Class B Motorhomes
5.3.1.3 Class C Motorhomes
5.3.1.4 Campervans
5.3.2 Towable RVs
5.3.2.1 Fifth-Wheel Trailers
5.3.2.2 Travel Trailers
5.3.2.3 Truck Campers
5.3.2.4 Sports Utility Trailers
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Spain
5.4.2.5 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Apollo Tourism & Leisure Ltd (ATL)
6.2.2 McRent
6.2.3 El Monte RV
6.2.4 RV Share
6.2.5 Cruise America
6.2.6 Just Go Motorhome Hire
6.2.7 Outdoorsy, Inc.
6.2.8 Indie Campers
6.2.9 RoadSurfer GmbH
6.2.10 MotorVana (Ideamerge LLC)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Sustainable and Eco-Friendly vehicles Presents Ample Growth Opportunities
Recreational Vehicle (RV) Rental Industry Segmentation
A recreational vehicle is a mobile dwelling vehicle incorporating living quarters explicitly designed for accommodation. RV rental is a service where RVs are made available to users hourly or daily in exchange for a fee that usually covers the rental period and mileage. The recreational vehicle rental market report covers the latest trends and technological developments.
The market is segmented by rental supplier, booking, product, and geography. By rental supplier type, the market is segmented into private/individual owners and fleet operators. The market is segmented by booking type into online and offline booking. The market is segmented by product type into motorized RVs and towable RVs. Motorized RVs are further segmented as Class A motorhomes, Class B motorhomes, Class C motorhomes, and campervans. Towable RVs are further categorized as fifth-wheel trailers, travel trailers, truck campers, and sports utility trailers. The market is segmented by geography into North America, Europe, Asia-Pacific, and the Rest of the World. The report offers the market size and forecast in value (USD) for all the above segments.
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Recreational Vehicle Rental Market Research Faqs
How big is the Recreational Vehicle Rental Market?
The Recreational Vehicle Rental Market size is expected to reach USD 0.81 billion in 2024 and grow at a CAGR of 8.11% to reach USD 1.19 billion by 2029.
What is the current Recreational Vehicle Rental Market size?
In 2024, the Recreational Vehicle Rental Market size is expected to reach USD 0.81 billion.
Who are the key players in Recreational Vehicle Rental Market?
Cruise America, Apollo Tourism & Leisure Ltd (ATL), Outdoorsy Inc., RV Share and El Monte RV are the major companies operating in the Recreational Vehicle Rental Market.
Which is the fastest growing region in Recreational Vehicle Rental Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Recreational Vehicle Rental Market?
In 2024, the North America accounts for the largest market share in Recreational Vehicle Rental Market.
What years does this Recreational Vehicle Rental Market cover, and what was the market size in 2023?
In 2023, the Recreational Vehicle Rental Market size was estimated at USD 0.74 billion. The report covers the Recreational Vehicle Rental Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Recreational Vehicle Rental Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Recreational Vehicle Rental Industry Report
Statistics for the 2024 RV Rental market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. RV Rental analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
