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| RV Photo by Hanson Lu on Unsplash |
Santa Monica College alumna Joanne Trealoff is the co-owner and CFO of Eclipse RV, Inc., a leading maker of recreational vehicles (RVs). In this role, Joanne Trealoff oversees the company’s finances and design of new RV models, positioning it to capitalize on market growth.
The global market for RVs is on track to reach $64.25 billion by 2024, according to a new study by Zion Market Research. This represents a 7.6 percent compound annual growth rate (CAGR) from 2017, when the market was valued at $34.8 billion. The growth will be driven primarily by improved fuel efficiency of the new models of RVs and a higher preference for adventure and tourism among urban populations. Additional entertainment and comfort offerings by RV makers will also attract new customers.
Globally, North America is the dominant market for RVs with the United States at the front of the pack, accounting for half the global market for recreational vehicles. Canada is the fastest growing emerging market for the vehicles (5 percent CAGR), and accounted for 90 percent of the United States’ $1.1 billion in RV exports in 2015. Europe is the second largest market for RVs, led by the countries of Germany, France, and Great Britain. Growth in this region will be driven by its robust camping culture. Towable RVs are the fastest growing category in the markets of Canada and Asia.
