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 using the nation's road networks. To use the industry's products to their full potential, major markets need time to travel and the funds to do so. Consequently, the industry's most lucrative market segments are baby boomers and seniors.
In the five years through 2014-15, the proportion of Australians over the age of 50 has increased. However, growth in this important market was more than offset by the flow-on effects of the global financial crisis. A key determinant for the industry is the amount of retirement savings that people are able to spend on a recreational vehicle... purchase to read more
Industry Report - Industry Analysis Chapter
The past five years have been troublesome for the industry. Due to weak demand, revenue is forecast to increase at a slow annualised rate of 0.5% over the five years through 2014-15 to reach $1.0 billion. Weaker consumer sentiment over the past five years has negatively affected demand, and purchases of new RVs were held off. Production numbers dropped and, as a result, industry revenue suffered. This was particularly evident in 2011-12 and 2012-13. The current financial year is expected to be more favourable for the industry, with revenue forecast to grow by 2.5%. The ageing population remains a major factor behind the popularity of RVs. As more people reach retirement age, a greater number are taking up the RV lifestyle... purchase to read more