The recreational vehicle (RV) industry is like a giant on wheels, rolling steadily even when the road gets bumpy. In 2022, 493,000 RVs were sold, making it the third-best sales year ever. The top spot goes to 2021, when, because of pandemic lockdowns and work-from-home trends, a whopping 600,000 RVs found new homes. In 2023, love for RVs and travel is still going strong, and here’s why.
RV Demand
RV road trips have been the summer’s hottest ticket, with around 40 million people hitting the highways. This surge in RV travel is due to flexible work schedules, family bonding time, and the pure joy of exploration. But the love for RVs isn’t just a summer fling. About 72 million people plan to go for an RV trip within the year, proving that it’s not just seasonal.
About 80% of RV owners and half of all vacation-goers plan just as much, if not more, travel in the next six months. That means a lot of road trips!
Almost 30% of vacation-goers are considering buying an RV in the next year. With fabulous destinations like national parks, lakes, private campgrounds, and even multi-state road trips on the list, it’s clear why RV travel is so popular.
RV Customers
Now, let’s talk about who these RV enthusiasts are. You might picture an older crowd, but that’s changed. RV lovers are getting younger and more diverse.
They are people who love traveling and spending time outdoors with their families. Most RV owners are millennials (65%), followed by Gen Z (19%), Gen X (14%), and Boomers (3%).
About 70% are married, and the average age is 32, with an average household income of $80,900. They don’t mind spending a pretty penny on their mobile homes; the average RV cost is $92,000.
Most of these buyers, about 77%, buy from an RV dealership. Their reasons for buying? They want a comfy spot to stay during work and travel, more road trips, a home base for outdoor fun, and the ability to explore off the beaten path through boondocking (self-sufficient camping with no access to water, sewer, or electrical hookups) or overlanding (a combination of camping and off-roading where the journey is the principal goal).
RV Needs
However, owning an RV isn’t always a smooth ride. There’s a big question of where to park these enormous vehicles when they’re not on the road. Many neighborhoods don’t allow RV parking, and they definitely won’t fit in your average garage. That’s where we come in at our Guardian RV Storage in Indianapolis, Indiana. Our customers need clean, safe places to park their beloved RVs, and we’re happy to provide that.
Our goal is to expand our RV parking options across the country, either through acquisitions or development. RV owners need a place to park. We want to be their best and obvious choice.
So, that’s the RV industry in a nutshell. It’s a world driven by love for the open road, the thrill of adventure, and the desire for a home away from home. The future of RVs is looking bright.
