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RV Shipments Expected to Rise in 2024, Driving Need for Development of RV Storage Facilities

By RV Industry Association Staff

RV wholesale shipments are expected to hit 350,000 units in 2024, according to the Spring 2024 issue of RV RoadSigns, the quarterly forecast prepared by ITR Economics for the RV Industry Association.

The new forecast projects 2024 RV shipments to range between 334,700 to 365,500 units with a median total of 350,100 units. This total would represent an 8.8 to 18.8 percent increase over the 2023 year-end total of 313,200 units. 

Higher RV shipments translate into an ever-growing need for the development of RV storage facilities across the country. Development of such facilities has lagged dramatically behind RV shipments/sales, leaving RV owners without a secure place to store these expensive toys. 

“RV shipments are trending in the positive direction and on track for the moderate gains ITR Economics is forecasting in this latest report,” said RV Industry Association President & CEO Craig Kirby. “Our data shows a continued desire from consumers to purchase RVs and experience the joys and benefits of the RV lifestyle. We are hopeful that the expected decreases in interest rates and inflation this year will allow more consumers to follow through with their desire to purchase RVs.”

Economic green shoots suggest rising shipments in the coming year, especially housing starts, which trend in tandem with shipments, moving upward in 2024.  Interest rates are likely to move lower in 2024, making RV financing more attainable for consumers. Receding inflation and rising incomes will also provide a more favorable environment for discretionary items such as RVs.

View the Spring 2024 issue of RV RoadSigns.

Members are invited to attend a webinar with ITR Economics for an in-depth explanation of the new forecast Thursday, March 14 at 1pm Eastern. Members can register for the webinar here.
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