Industry Analysis & Industry Trends
The Recreational Vehicle Manufacturing industry produces a range of products that enable Australians to travel to remote locations comfortably and economically. To fully enjoy the benefits of industry products, consumers need time to travel and adequate funds to do so. Consequently, the industry's most lucrative market is baby boomers.
Industry growth has remained slow, despite its target market of Australians aged 50 and older growing as a proportion of the total population. A key driver for the industry is the amount of retirement savings that people have available to spend on a recreational vehicle. The superannuation balances of many Australians close to retirement were decimated following the global financial crisis, making recreational vehicles less affordable... purchase to read more
Industry Report - Industry Analysis Chapter
The Recreational Vehicle Manufacturing industry has recorded sluggish growth over the past five years as demand for RVs weakens. Industry revenue is forecast to grow at an annualised 0.6% over the five years through 2015-16 to reach $1.0 billion. Weaker consumer sentiment over the past five years has negatively affected demand, and purchases of new RVs were put off. Production numbers dropped and, as a result, industry revenue suffered. The current financial year is expected to be more favourable for the industry, with revenue forecast to grow by 3.1%. Positive consumer sentiment is expected to support industry growth, with the weaker Australian dollar boosting the competitiveness of locally made products and adding to growth... purchase to read more