Product Code: ETC048609 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Philippines Recreational Vehicle market currently, in 2023, has witnessed an HHI of 5142, Which has increased moderately as compared to the HHI of 3742 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The Philippines recreational vehicle market is estimated to grow at a CAGR of 8.9% during the forecast period, 2025-2031. The growth of this market is mainly attributed to the increasing number of tourists in the country as well as rising disposable incomes among Filipino consumers leading them to spend more on leisure activities such as camping and other outdoor activities where RV`s are used for transportation and accommodation purposes. Additionally, government initiatives aimed at promoting tourism have also spurred demand for RVs in Philippines
According to data released by 6Wresearch, there was an increase in international tourist arrivals from 5,972,811 in 2017 to 7,127,168 million visitors in 2018 representing a 20% year-on-year growth rate. This indicates potential opportunities for RV manufacturers due higher spending capacity among foreign tourists compared with domestic travelers who use traditional modes of transport while traveling within the country. Further, with growing incomes and changing lifestyle preferences led by younger generations towards outdoor recreation along with healthy eating habits has resulted into increased preference for recreational vehicles amongst Filipinos which has further propelled revenue generation through sales of campers & motorhomes across various parts of Philippines over past few years.
Considering that most recreational vehicles are imported from overseas markets like Australia or Japan they can be extremely expensive thus making it difficult even for middle class consumers to purchase one these products considering factors such cost maintenance , fuel efficiency etc., which may impede its adoption thereby restraining market growth over long run . Moreover lack availability and understanding about financing options also act as hindrance towards purchasing such high end luxury items
Major players operating in Philippine Recreational Vehicle Market include Winnebago Industries Inc., Forest River Inc., Thor Motor Coach Inc., Tiffin Motorhomes Inc., Erwin Hymer Group North America ,Inc,, Dethleffs GmbH & Co KG Campingfahrzeuge , MCMC LLC , Leisure Travel Vans Divison Triple E Recreational Vehicles amongst others
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Recreational Vehicle Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Recreational Vehicle Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Recreational Vehicle Market - Industry Life Cycle |
3.4 Philippines Recreational Vehicle Market - Porter's Five Forces |
3.5 Philippines Recreational Vehicle Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 Philippines Recreational Vehicle Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 Philippines Recreational Vehicle Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Philippines Recreational Vehicle Market Trends |
6 Philippines Recreational Vehicle Market, By Types |
6.1 Philippines Recreational Vehicle Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Philippines Recreational Vehicle Market Revenues & Volume, By Product Type, 2021-2031F |
6.1.3 Philippines Recreational Vehicle Market Revenues & Volume, By Fifth Wheel Campers, 2021-2031F |
6.1.4 Philippines Recreational Vehicle Market Revenues & Volume, By Folding Camper, 2021-2031F |
6.1.5 Philippines Recreational Vehicle Market Revenues & Volume, By Truck Campers, 2021-2031F |
6.1.6 Philippines Recreational Vehicle Market Revenues & Volume, By Travel Trailers, 2021-2031F |
6.1.7 Philippines Recreational Vehicle Market Revenues & Volume, By Class A Motorhomes, 2021-2031F |
6.1.8 Philippines Recreational Vehicle Market Revenues & Volume, By Class B Motorhomes, 2021-2031F |
6.2 Philippines Recreational Vehicle Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Philippines Recreational Vehicle Market Revenues & Volume, By Leisure, 2021-2031F |
6.2.3 Philippines Recreational Vehicle Market Revenues & Volume, By Business, 2021-2031F |
7 Philippines Recreational Vehicle Market Import-Export Trade Statistics |
7.1 Philippines Recreational Vehicle Market Export to Major Countries |
7.2 Philippines Recreational Vehicle Market Imports from Major Countries |
8 Philippines Recreational Vehicle Market Key Performance Indicators |
9 Philippines Recreational Vehicle Market - Opportunity Assessment |
9.1 Philippines Recreational Vehicle Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 Philippines Recreational Vehicle Market Opportunity Assessment, By Applications, 2021 & 2031F |
10 Philippines Recreational Vehicle Market - Competitive Landscape |
10.1 Philippines Recreational Vehicle Market Revenue Share, By Companies, 2024 |
10.2 Philippines Recreational Vehicle Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |