The global manufactured housing market was valued at $27,188 million in 2019, and is projected to reach $38,848 million by 2027, registering a CAGR of 6.5%. Manufactured housing (MH) is a housing unit which is built partially or fully off-site in factory and is later transported and installed at designated project site. Manufactured homes are constructed as per the strict rules and regulations laid down by the regulatory body. For instance, in the U.S. it is mandatory that manufactured housing units should comply with the federal HUD code, which was laid down by the U.S. Department of Housing and Urban Development in June 1976. According to MHI (Manufactured Housing Institute) based in the U,.S., construction cost for per square foot manufactured homes is around 30% to 50% less as compared to on-site build conventional homes.
Rise in demand for manufactured homes can be attributed to the advantages of manufactured housing units such as affordable construction cost, quality control over entire construction process, less lead time of completion of construction, and energy efficiency.
Growth in population and rapid urbanization has resulted into increase in the need for quality and affordable accommodation. This is expected to boost the growth of the manufactured housing market during the forecast period. However, fluctuations in raw material prices such as steel, timber, and concrete affects the profitability of manufacturers, which restraints growth of the manufactured housing market. Moreover, rise in adoption of technical advancements such as 3D printing, construction robotics, and computer aided manufacturing is expected to offer growth opportunities for the manufactured housing market in the future.
The global manufactured housing market is segmented on the basis of number of section, location, application, and region. Depending on number of section, 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.
COMPETITION ANALYSIS
The major market participants profiled in this report include Berkshire Hathaway Inc., Cavco Industries Inc., Cumberland Japan Co. Ltd., Domino Homes SIA, Nobility Homes Inc., Omar Park Homes Ltd., Q Prefab Ou, Skyline Champion Corporation, The Commodore Corporation, and Wigo Group. Acquisition and partnership are the key strategies being adopted by the key players to remain competitive in the market.
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 manufactured housing market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
? The global manufactured housing market forecast analysis from 2020 to 2027 is included in the report.
? The key players within manufactured housing market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the manufactured housing industry.
GLOBAL MANUFACTURED HOUSING MARKET SEGMENTS
BY NUMBER OF SECTIONS
- Single section
- Double section
- Multi-section
BY LOCATION
- Private Property
- MH Communities
BY APPLICATION
- Residential
- Non-residential
BY REGION
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o UK
o Scandinavia
o Rest of Europe
- Asia-Pacific
o China
o Japan
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa
KEY PLAYERS
- Berkshire Hathaway Inc.
- Cavco Industries Inc.
- Cumberland Japan Co. Ltd.
- Domino Homes SIA
- Nobility Homes Inc.
- Omar Park Homes Ltd.
- Q Prefab Ou
- Skyline Champion Corporation
- The Commodore Corporation
- Wigo Group
