Recreational Vehicles On the Road

August 2, 2021

RV ownership has reached record levels, according to the RV Industry Association. More than 11 million households now own an RV – the highest level ever recorded – a 62% increase since 2001 and a 124% gain since 1980.

Population and demographic trends favor long-term RV market growth, RVIA says. RV owning households are split almost equally between 18 and 54 and 55 and up, with significant growth among 18-to-34-year-olds, who now make up 22% of the market.

More baby boomers entering retirement are owning RVs as well. RV sales are expected to rise as aging baby boomers continue to enter the age range in which RV ownership has been historically highest.

The RV industry has a $114 billion economic impact according to the results of the 2019 RVs Move America Study, research commissioned by the RVIA, which also noted that the industry provides 596,355 jobs and $32.2 billion in wages.

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Insurance Journal West August 2, 2021
August 2, 2021
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