RV wholesale shipments are projected to reach an all-time high in 2021 then continue to trend upward through 2022, according to the Fall 2021 issue of RV RoadSigns, the quarterly forecast prepared by ITR Economics for the RV Industry Association.
“The remarkable production from the RV manufacturers and suppliers is nothing like we have ever seen before, and our new forecast shows the record-breaking streak will continue,” said RV Industry Association President & CEO Craig Kirby. “Over the past year, millions of people discovered that RVs are the best way to experience the great outdoors and the many benefits of an active outdoor lifestyle. The demand from these new RV owners, as well as our returning customers, is driving the increased RV production we will continue to see through the remainder of 2021 and into 2022.”
The latest forecast for year-end 2021 RV shipments ranges between 567,000 and 587,400 units with a most likely year-end total of 577,200 units, a 34% gain over 2020’s year-end total of 430,412 units. It would be a 14.4% increase over the current comparable record high of 504,600 set in 2017.
Industry growth is expected through 2022 with shipments ranging between 586,300 and 614,100 units with a most likely total of 600,200 units, a four percent rise over 2021.
“Faced with many of the same kinds of supply chain and labor issues plaguing most industries over the past year, the RV industry has overcome these challenges and produced a record number of RVs month after month,” said Jeff Rutherford, President & CEO of Airxcel and RV Industry Association Chairman. “This forecast shows that while RV manufacturers and suppliers will continue to face these challenges, they will also continue to produce a record number of RVs to meet the record demand from RV consumers.”
Continued robust demand for RVs, the need for RV dealers to restock historically low inventories, the strong financial standing of consumers, and sustained interest in the outdoors will work to keep RV shipments elevated. RV shipments are projected to reach an all-new high in 2022, but there will be lower RV shipment growth rates in comparison to 2021 because of supply chain issues, inflation, rising interest rates, and slowing economic growth later in 2022.
RV Industry Association members can view the Fall 2021 issue of RV RoadSigns here.
Members are also invited to attend a webinar with ITR Economics for an in-depth explanation of the new forecast on Wednesday, September 8 at 2pm Eastern. Members can register for the webinar by clicking here.