By Chris Koenig
The Class A, covered and premium RV and boat storage market has experienced notable developments in recent years, influenced by shifts in consumer behavior and evolving regulatory landscapes. As of 2024, the global RV and boat storage market was valued at approximately $2.59 billion and is projected to reach $5.95 billion by 2032, reflecting a compound annual growth rate (CAGR) of 12.5% during this period.
Market Dynamics
The surge in RV and boat ownership has been fueled by rising disposable incomes and a 
growing interest in outdoor recreational activities. However, the RV industry faced a downturn in 2024, with higher interest rates and an oversupplied market leading to decreased demand. Truck-chassis orders for Class A and Class C motorhomes fell by 66% in July 2024, and overall production dropped by 51%.
Despite these challenges, the RV and boat storage sector has shown resilience. In 2022, sales of RV and boat storage properties soared, with 124 properties trading hands. In 2023, there was a pullback due to increasing interest rates, but many are hopeful that interest rates will start to shift in favor of development throughout this year.
Impact of Electric Vehicle (EV) Mandates
The evolving landscape of EV mandates has raised questions about their potential impact on the RV and boat storage industry. In 2025, California’s Advanced Clean Trucks (ACT) 
regulation, aimed at promoting zero-emission vehicles (ZEVs), will impact the availability of motorhomes in the state, as well as in additional states that follow the California Air Resources Board (CARB) regulations. While the regulation does not specifically ban motorhome sales, the ACT regulation mandates manufacturers of medium and heavy-duty vehicles to sell an increasing percentage of ZEVs each year. This has led some chassis manufacturers to halt sales of traditional internal combustion engine chassis for motorhomes in California, stemming from the lack of ZEV chassis suitable for motorhomes.
Despite these concerns, the broader trend toward electrification presents opportunities for the RV and boat storage sector. The global electric boat market, for instance, is expected to grow from $7.96 billion in 2024 to $20.22 billion by 2032, at a CAGR of 12.35%. This growth is driven by increasing demand for eco-friendly transportation solutions and advancements in battery technology.
Investment Opportunities
For investors and developers, the RV and boat storage market offers promising opportunities. The sector has attracted new capital, and although an increase in new development has followed, there still appears to be a supply-demand imbalance, particularly among Class A properties. Yardi Matrix is tracking 51 RV and boat storage properties under construction, 152 planned, and 51 in the pipeline. New supply under construction is heavily focused in a few markets, with San Antonio, Jacksonville and Portland expected to see the greatest pressure from new supply in the near term.
In conclusion, while the RV and boat storage market faces challenges from regulatory changes and market fluctuations, it continues to present viable opportunities for investors and developers. Staying informed about industry trends and regulatory developments will be crucial for stakeholders aiming to navigate this evolving landscape successfully.
Chris Koenig is Managing Member of Kingsland Companies LLC, a self-storage and RV/boat storage development, investment and management company. He has been developing real estate for nearly 20 years, from retail/warehouse to now a laser focus on solar-canopy RV/boat storage and self-storage. He has roughly $100 million in solar-canopy RV/boat storage and self-storage projects under his belt/management.
