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 - Starting a New Business Chapter
Barriers to entry exhibited by the Recreational Vehicle Manufacturing industry is at a moderate level. The largest barrier to entry is the amount of capital typically required to set up operations. This is true of most industries in the Manufacturing division given the large amount of equipment used in day-to-day operations. Another challenge for new entrants is reaching the scale needed to make a suitable return on assets.
A secondary barrier to entry is the ability to attract skilled labour. The lack of affordable, trained labour has constrained the industry over the past five years. As a result, the Federal and state governments have funded training programs targeted at the industry... purchase to read more