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 SWOT Analysis Chapter
The Recreational Vehicle Manufacturing industry is in the mature stage of its life cycle. Industry value added, which measures an industry's contribution to the economy, is forecast to grow at an annualised 2.4% over the 10 years through 2020-21. This is a slight underperformance of overall GDP, which is projected to rise at an annualised 2.6% over the same period, indicating the industry's contribution to the economy is declining.
The number of establishments is declining as profit is squeezed and the industry faces increasing competition from imports, particularly those in developing economies benefiting from lower production costs. The introduction of new products is also slowing, as product groups become increasingly stable and segmented... purchase to read more