DETROIT, Feb. 7, 2019
DETROIT, Feb. 7, 2019 /PRNewswire/ -- 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 market report, from Stratview Research, studies the recreational vehicle composite panels market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Recreational Vehicle (RV) Composite Panels Market: Highlights
Over a period, 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 metallic construction. Weight reduction is a key requirement of RV OEMs as this gives an extra room to OEMs with an aim 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.
Recreational vehicle composite panels market continued its disruptive journey in 2018. It is estimated that the next five years for the market are going to be more vigorous with attractive growth opportunities in the entire ecosystem of the market and reach an estimated value of US$ 554.9 million in 2024. Organic growth in the production of recreation vehicle 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, ultimately driving the segment to grow at an above-industry growth rate in the foreseeable future.
As per the research findings, 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, 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 in the same period. There are different materials and designs of panels for different applications in RVs.
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. However, epoxy resin is a preferred choice for some floor and roof panel applications.
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 recreational vehicle composite panels market 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.
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 on 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:
This report studies the global RV composite panels market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
RV Composite Panels Market by Product Type:
RV Composite Panels Market by Application Type:
RV Composite Panels Market by Resin Type:
RV Composite Panels Market by Core Material Type:
RV Composite Panels Market by Region:
Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:
Related premium market report in the advanced materials industry are:
Composite Floor Panels Market by End-Use Industry Type (Aircraft, Rail, and Bus), by Core Material Type (Honeycomb Core, Foam Core, and Balsa Core), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
Aircraft Interior Sandwich Panel Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aviation), by Application Type (Floor Panel, Sidewall Panel, Ceiling Panel, Stowage Bin, Galley, Lavatory, and Others), by Core Material Type (Nomex Honeycomb, Aluminum Honeycomb, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
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