Container Homes Market by 2025: An extensive analysis of the current and emerging market trends, and dynamics.
According to the report, the global container homes market generated $44.76 billion in 2017 and is anticipated to garner $73.07 billion by 2025, growing at a CAGR of 6.5% during the forecast period.
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The growth of the global container homes market is driven by technological advancements that have reduced the cost & time required for construction, along with simplifying the process of installation & relocation. Market growth is also supplemented by the rise in government initiatives that promote green building concept for resource efficiency. However, the high possibility of corrosion in homes constructed with old containers and large investment in HVAC systems hamper market growth. Nonetheless, the dearth of housing units in developing countries and increasing focus towards affordable housing structures is poised to create lucrative opportunities for emerging market players in the near future.
By container type, the old/scrap container segment occupied more than three-fourths of the global market share in 2017 and is expected to maintain its dominance through 2025. The segment is also poised to grow at the highest CAGR of 7.2% during the forecast period, owing to its easy availability and cheaper cost.
By architecture type, the duplex/bungalow segment generated more than one-third of the global revenue in 2017. It is expected to maintain its lead during the forecast period, owing to a surge in demand for DIY style houses through multiple container blocks. However, the multistory building/apartments segment is expected to grow at the fastest CAGR of 8.8% from 2018 to 2025, owing to lack of abundance of housing units and surge in demand for new construction.
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Regionally, Asia-Pacific is expected to grow at the highest CAGR of 7.5% from 2018 to 2025, owing to rapid urbanization, excellent economic growth, and less time & cost required for construction of container homes.
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