According to the report by Expert Market Research (EMR), the global manufactured housing market size reached a value of USD 24.42 billion in 2023. Aided by urbanisation, population growth, housing affordability challenges, and technological advancements in construction methods, the market is projected to further grow at a CAGR of 5.8% between 2024 and 2032 to reach a value of USD 40.56 billion by 2032.
Manufactured housing, also known as prefabricated or modular housing, refers to residential structures that are partially or entirely built off-site in a factory-controlled environment and then transported to the final location for assembly and installation. Manufactured homes are constructed using standardised components, including modules, panels, and modules, which are assembled on-site to create complete housing units. These homes offer an efficient, cost-effective, and customisable alternative to traditional site-built homes, catering to diverse housing needs and preferences.
As per the manufactured housing market analysis, manufactured housing offers an affordable housing solution for individuals and families facing housing affordability challenges, particularly in urban areas with high housing costs. Manufactured homes are typically more cost-effective than site-built homes, making them accessible to a broader segment of the population, including first-time homebuyers, retirees, and low-to-moderate-income households.
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Urbanisation and population growth have led to increased demand for housing in urban and peri-urban areas, driving the adoption of manufactured housing as a viable solution to address housing shortages and accommodate growing urban populations which fuels the manufactured housing market growth. Manufactured homes provide a scalable and efficient housing solution that can be quickly deployed to meet the evolving housing needs of urban communities.
Advances in construction technologies, including off-site prefabrication, modular construction, and digital design tools, have revolutionised the manufactured housing sector, enabling faster, more efficient, and higher-quality construction processes. Automated manufacturing processes, robotics, and 3D printing technologies have streamlined production, reduced construction timelines, and improved precision and quality control in manufactured home construction.
As per the manufactured housing market outlook, manufactured housing offers a high degree of customisation and design flexibility, allowing homeowners to personalise their homes according to their preferences, lifestyle, and budget. Modular construction techniques enable the integration of various design elements, floor plans, and finishes, enabling homeowners to create unique and tailored living spaces that meet their specific needs and aesthetic preferences.
Manufactured housing is increasingly integrating smart home technologies to enhance convenience, security, and energy efficiency. Smart home features such as intelligent thermostats, lighting systems, door locks, and surveillance cameras enable homeowners to remotely monitor and control their homes, reducing energy consumption, improving security, enhancing overall living comfort, and propelling the manufactured housing market expansion.
Multi-generational housing solutions are gaining popularity as families seek flexible living arrangements that accommodate multiple generations under one roof. Manufactured homes designed for multi-generational living feature separate living spaces, accessory dwelling units (ADUs), and flexible floor plans that provide privacy, independence, and shared communal areas for extended family members.
The trend towards minimalist living and downsizing in the manufactured housing market has fuelled demand for tiny homes and micro-housing solutions within the sector. Tiny homes, typically ranging from 100 to 400 square feet in size, offer compact, affordable, and eco-friendly living options for individuals and families seeking a simpler lifestyle with reduced environmental impact and lower operating costs.
With increasing emphasis on sustainability and environmental responsibility, manufactured housing is embracing green building practices, energy-efficient technologies, and eco-friendly materials to reduce environmental impact and promote energy conservation. Energy-efficient appliances, solar panels, passive heating and cooling systems, and sustainable building materials enhance the sustainability and eco-friendliness of manufactured homes, appealing to environmentally conscious consumers and regulatory requirements, which can also boost the manufactured housing market share.
Manufactured Housing Market Segmentation
The market can be divided based on the number of section, location, application, and region.
Market Breakup by Number of Section
- Single Section
- Double Section
- Multi-Section
Market Breakup by Location
- Private Property
- MH Communities
Market Breakup by Application
- Residential
- Non-Residential
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Manufactured Housing Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global manufactured housing market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cavco Industries, Inc.
- Champion Home Builders, Inc.
- Clayton Homes, Inc.
- Domino Homes
- Skyline Champion Corporation
- Karmod Prefabricated Technologies
- General Coach Canada
- Ironwood Manufactured Homes
- Cumberland Japan Co., Ltd.
- Knight Mobile Homes Ltd.
- Others
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