The global manufacturing houses market was valued at USD 16,854.9 Million in 2019 and is projected to reach USD 21,200.7 Million by 2027, expanding at a CAGR of 3.3% during the forecast period. Availability of better-quality houses and less construction. The demand for manufactured housing is increasing globally, as they are affordable and provides or better-built quality than site-built dwellings.
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Market Dynamics
The market is driven by factors such as availability of better-quality houses, requirement of less construction time, rising in demand for energy-efficient houses, and growth construction spending. Conversely, low perceived resale value, highly competitive market, and lack of awareness among people are acting as key restraints of this market. Untapped opportunities in emerging countries and rising investment in research and development are expected to create opportunities for market in the future. Today’s manufactured housing have amazing interiors and modern residential outlook from outside. People are getting attracted to manufactured housing as they provide features such as a bright modular kitchen, spacious bedroom, a cozy fireplace, walk-in closets, garden tub, plus crown molding, and branded home appliances. This drives the growth of the manufacturing homes in the estimated forecasts period.
Segmental Outlook
Based on construction types, the manufactured housing market is bifurcated as a single section and multi-section. A single section manufactured house is projected to hold a significant share of the market.
Based on product type, the manufacturing houses market is segmented into manufactured homes, modular homes and panelized homes. The modern manufactured homes provide the same luxury amenities which are found in traditional new homes such as artisanal fixtures, countertops, and granite. This type of home is popular in the countries where the population is low and the land is available for less price.
Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is dominating the market by holding substantial market share and is expected to retain its position throughout the forecast period. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period driven by rising disposable income and availability of international brands through e-commerce. Moreover, the boom in sales of food products during the pandemic in 2020 is anticipated to create lucrative opportunities during the forecast period. The developed region including Europe and North America are expected to grow significantly during the forecast period due to increasing usage of Manufacturing Houses to prepare spicy meals. Also, the high consumption of snack items is boosting demand for various sauces.
Competitive Landscape
- Key players in the market include Manufacturing Houses market includes Nobility Homes, Inc., Cavco Industries Inc., SkylineChampion Corporation, Jacobsen Homes, Excel Homes, American Homestar Corporation, Jacobsen Homes, Excel Homes, CHM Services Inc., Algeco, RED SEA INTERNATIONAL, Scotbilt, The Commodore Corporation, and SEKISUI HOUSE, LTD. These companies are considered as key manufacturers of manufacturing homebased on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.
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