According to the recent study the prefabricated housing market is projected to reach an estimated $23.7 billion by 2027 from $16.1 billion in 2021, at a CAGR of 5.9% from 2021 to 2027. Growth in this market is primarily driven by construction activities and increasing awareness of eco-friendly, time saving, and cost-effective construction practices.
Browse 129 figures / charts and 102 tables in this 195 -page report to understand trends, opportunities and forecast in prefabricated housing market by home type (manufactured, modular, panelized, and precut homes), construction type (single section and multi-sections), end use (residential and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Manufactured homes market is expected to remain the largest segment during the forecast period.”
Based on home type, the prefabricated housing market is segmented into manufactured, modular, panelized, and precut homes. Lucintel forecasts that the manufactured homes market is expected to remain the largest segment due to increase in demand of easily relocatable houses without dismantling it.
“Within the prefabricated housing market, the residential housing segment is expected to remain the largest end use”
Based on end use the residential housing segment is expected to witness the highest growth over the forecast period due to increasing demand for less time consuming housing construction and increased awareness of people towards reduction of wastage.
“North America will dominate the prefabricated housing market in near future”
North America will remain the largest region and it is also expected to witness the highest growth over the forecast as prefabrication promotes sustainability and reduces waste and thus meeting the Green Building Standards.
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Major players of prefabricated housing market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Algeco Scotsman, Butler Manufacturing Company, Skyline Corporation, Astron Buildings, Kirby Building Systems LLC, Lindal Cedar Homes, Red Sea Housing Services, and United Partition Systems Inc. are among the major prefabricated housing providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/prefabricated-housing-market.aspx or [email protected]