Market Outlook
According to this report, the manufactured housing market size reached a value of USD 24.42 billion in 2023. Aided by the increasing demand for affordable housing solutions and the growing applications of manufactured homes in various regions, 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, often referred to as mobile homes, involves residential structures that are built in a factory setting and then transported to their final location. These homes are built to the federal building code set by the U.S. Department of Housing and Urban Development (HUD). Manufactured homes offer a cost-effective and time-efficient solution to housing, making them an attractive option for many consumers. Apart from affordability, manufactured homes are also known for their modern design, energy efficiency, and customisability, making them a valuable option in the housing market.
The increasing need for affordable housing solutions is driving the manufactured housing market growth. With rising real estate prices and economic challenges, there has been a significant shift towards more economical housing options, leading to a surge in demand for manufactured homes. Additionally, the growing trend of downsizing and minimalist living has further contributed to the increasing popularity of manufactured homes, as they offer a practical and flexible living solution for individuals and families.
The expanding applications of manufactured homes in various regions also play a significant role in propelling the market. In rural and suburban areas, manufactured homes provide an efficient and sustainable alternative to traditional site-built homes. The ability to place these homes in diverse locations with relative ease and at lower costs is particularly advantageous in regions facing housing shortages and high construction costs. Moreover, the adaptability of manufactured homes to different terrains and climates makes them suitable for a wide range of environments.
Further, the growing awareness of sustainable and energy-efficient housing solutions has led to an increased focus on manufactured homes as a viable option for environmentally conscious consumers. With advancements in building materials and construction techniques, modern manufactured homes are designed to be highly energy-efficient, reducing their environmental impact and offering long-term cost savings to homeowners, consequently driving up the manufactured housing market share.
Manufactured homes are built in a factory setting, which allows for efficient and timely construction. This method eliminates many of the delays associated with on-site construction, such as weather-related interruptions and labour shortages. As a result, manufactured homes can be completed and ready for occupancy much faster than traditional homes, making them an attractive option for those in urgent need of housing.
Advancements in construction technology have greatly improved the quality and durability of manufactured homes. Innovations in building materials, design software, and manufacturing processes have enhanced the structural integrity, aesthetic appeal, and overall performance of these homes. These technological improvements have helped to overcome many of the stigmas associated with manufactured housing and have positioned them as a competitive alternative to traditional homes.
As per the manufactured housing market analysis, single-section homes are smaller, more compact homes that are ideal for individuals or small families. They are easier to transport and install, making them a popular choice for temporary housing solutions. Double section and multi-section offer more space and can be customised with multiple sections to create larger living areas. They are suitable for larger families or those who require more living space.
Market Segmentation
The market can be divided based on 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
- Middle East and Africa
- Europe
Competitive landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global manufactured housing market. some of the major players explored in the report 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
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market16 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Manufactured Housing Market Analysis
9 North America Manufactured Housing Market Analysis
10 Europe Manufactured Housing Market Analysis
11 Asia Pacific Manufactured Housing Market Analysis
12 Latin America Manufactured Housing Market Analysis
13 Middle East and Africa Manufactured Housing Market Analysis
14 Market Dynamics
15 Competitive Landscape
List of Key Figures and Tables
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 193 |
| Published | June 2024 |
| Forecast Period | 2024 - 2032 |
| Estimated Market Value ( USD | $ 25.84 Billion |
| Forecasted Market Value ( USD | $ 40.56 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
