According to a new report published by Allied Market Research, titled, “Manufactured Housing Market by Number of Section, Location and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global manufactured housing market size was valued at $127,188.0 million in 2019, and is projected to reach $38,848.50 million by 2027, registering a CAGR of 6.5% from 2020 to 2027.
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Growth of the global manufactured housing market is driven by growth in population and rapid urbanization around the globe. For instance, according to the European Commission, 56% population of Africa and 64% population of Asia will live in urban areas by 2050. This is expected to result in the demand for affordable and quality housing, which is anticipated to boost the growth of the market during the forecast period.
Rise in demand for manufactured homes can be attributed to its features such as affordable cost of construction, reduced lead time of construction, and quality control over entire construction in real time. Technological advancements such as computer aided design & manufacturing and 3D printing & construction robotics is expected to boost the demand for manufactured housing across the globe.
For instance, Blueprint Robotics Inc. which is U.S. based construction robotics startup, use advanced robots and BIM (Building Information Modeling) for off-site manufacturing of housing units. Experts in the field of construction says that manufactured housing is a promising solution to fill the shortage of affordable housing around the globe.
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Covid-19 Impact Analysis
The outbreak of COVID-19 has a negative impact on the production of manufactured housing units, and is expected to hamper the manufactured housing market growth throughout the year. This has further affected the demand for manufactured homes from developing countries, including India, China, and others; thereby, halting the production activities. In addition, the disruption of supply chains is causing hindrance in manufacturing of the manufactured homes around the globe.
The global manufactured housing market is segmented on the basis of number of sections, location, application, and region. Depending on number of sections, the market is divided into single section, double section, and multi section. By location, the market is classified as private property and MH communities. Based on application, the market is bifurcated into residential and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the manufactured housing market report include Berkshire Hathaway Inc., Cavco Industries Inc., Cumberland Japan Co. Ltd., Domino Homes SIA, Nobility Homes Inc., Omar Park Homes Ltd., Q Prefab OÜ, Skyline Champion Corporation, The Commodore Corporation, and Wigo Group.
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Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging manufactured housing market trends and dynamics.
- In-depth manufactured housing market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global manufactured housing market forecast analysis from 2020 to 2027 is included in the report.
- The key players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the manufactured housing industry.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.