Stratview Research announces the launch of a new research report on Recreational Vehicle (RV) Composite Panels Market by Product Type (Towables and Motorized), by Application Type (Sidewall Panel, Slide-out Panel, Roof Panel, and Floor Panel), by Resin Type (Polyester Composite Panels, Epoxy Composite Panels, and Other Composite Panels), by Core Material Type (PS Foam, PU Foam, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This comprehensive report on the composite panels market for recreational vehicles, from Stratview Research, analyzes the current market realities, trends took place over the past five years, changing competitive landscapes, disruption in technologies, and future market possibilities in order to accurately forecast the market for the period of 2019 to 2024 in terms of both value as well as volume. The principal objectives of the report are to provide detailed insights into the market dynamics, to identify the low-hanging fruits that lie ahead for the market participants to expedite their growth process, and to provide a clear idea about the growth potentials in the un-tapped markets.
Recreational Vehicle Composite Panels Market: Highlights
As per Stratview Research, Recreational vehicle composite panels market continued its disruptive journey in 2018. The next five years for the market are going to be more vigorous with attractive growth opportunities in the entire ecosystem of the market.
It is estimated that the recreational vehicle composite panels market will reach an estimated value of US$ 554.9 million in 2024. Organic growth in the production of recreation vehicles supported by growing outdoor participation activities and conversion of tent participants to RV enthusiasts is the prime growth driver of the market.
An incessant shift from traditional wood panels to composite panels in RV is aiding additional growth in the market, ultimately driving the segment to grow at an above-industry growth rate in the foreseeable future.
Camping roughly accounts for one-third of the total US outdoor participation activity. In camping, recreation vehicles activity represents one of the major outdoor activities, especially in the North American and European countries.
RV campers have been increasing progressively as the activity allows campers to freely move at any destination at any time. RV vehicles include camping vehicles, either motorhomes or large trailers towed by trucks.
Over a period of time, the RV industry has experienced a remarkable transition in the panel's technology in terms of material and design. Nowadays, RVs panels are preferably being made with composites rather than wood or metals.
Weight reduction is the key requirement of RV OEMs which gives an extra room to
OEMs to take the comfort of customers to the next level by adding more luxury items. Although the price of composite panels is higher, these panels are marking greater penetration in the industry as OEMs are gradually abolishing wood panels for sidewalls and floors, which are prone to damage or moisture intrusion.
The market for composite panels in recreational vehicles is segmented based on the product type as Towable RV and Motorized RV. Towable RV is expected to remain the most dominant segment of the market during the forecast period, driven by North America.
Towable RVs are more common in North America as compared to Europe, the latter region has the dominance of motorized vehicles. Towable vehicle shipments accounted for more than 85% of the total RV shipments in North America in 2018.
Based on the application type, the composite panels market in recreational vehicles is segmented as Sidewall Panel, Slide-out Panel, Roof Panel, and Floor Panel. Sidewall panel is expected to remain the most dominant application in the market over the next five years, whereas floor panel is likely to be the fastest-growing application during the same period.
There are different materials and designs of panels for different applications in RVs.
The market is also segmented based on the resin type as Polyester Composite Panels, Epoxy Composite Panels, and Other Composite Panels. Polyester composite panel is expected to remain the largest segment during the forecast period.
Polyester resin has the lowest cost and offers good properties including impressive linear thermal expansion and relatively low shrinkages, which make it best fit for producing recreational vehicle composite panels. Epoxy resin is a preferred choice for some floor and roof panel applications.
The market is segmented based on the core material type as polystyrene (PS) foam, polyurethane (PU) foam, and other core materials. PS Foam is expected to remain the major core material type during the forecast period.
Excellent mechanical properties, excellent insulation property, good moisture resistance, and low weight are some of the key factors that have led to the high adoption of PS foam in the market.
In terms of regions, North America is expected to remain the largest market for recreational vehicle composite panels during the forecast period. The USA is the growth engine of the North American market.
Europe is also likely to offer sizeable growth opportunities during the forecast period. Germany is likely to remain the largest and fastest-growing market in the European region during the same period.
The supply chain of this market comprises raw material suppliers, composite panel manufacturers, distributors, recreational vehicle OEMs, and dealers. Major recreational vehicle composite panel manufacturers are Crane Composites Inc., LAMILUX Heinrich Strunz Holding GmbH & Co.
KG, US Liner Company, Glasteel (Stabilit America Inc.), and Hanwha Adzel, Inc. Development of lightweight composite panels, expansion of the regional network, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value.
It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, geographical presence, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
The recreational vehicle composite panels market is segmented into the following categories.
Recreational Vehicle Composite Panels Market by Product Type:
- Towable Recreational Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Motorized Recreational Vehicles(Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Recreational Vehicle Composite Panels Market by Application Type:
- Sidewall Panel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Slide-out Panel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Roof Panel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Floor Panel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Recreational Vehicle Composite Panels Market by Resin Type:
- Polyester Composite Panels (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Epoxy Composite Panels(Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Other Composite Panels(Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Recreational Vehicle (RV) Composite Panels Market by Core Material Type:
- Polyurethane (PU) Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polystyrene (PS) Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Other Core Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Recreational Vehicle (RV) Composite Panels Market by Region:
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, Australia, New Zealand and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: The Middle East, Latin America, and South Africa)
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