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Manufactured Housing Market Opportunities, Ongoing Trends and Forecast to 2027 | With a CAGR of 6.5%
Manufactured Housing Market
Manufactured homes are built in a controlled environment within a factory, which ensures consistent quality and adherence to safety standards. This controlled process can lead to faster construction times and reduced waste.
The global manufactured housing market size was valued at $127,188.0 million in 2019, and is projected to reach $38,848.50 million by 2027, registering a CAGR of 6.5% from 2020 to 2027.
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Growth of the global manufactured housing market is driven by growth in population and rapid urbanization around the globe. For instance, according to the European Commission, 56% population of Africa and 64% population of Asia will live in urban areas by 2050. This is expected to result in the demand for affordable and quality housing, which is anticipated to boost the growth of the market during the forecast period.
Affordable Housing Solution:
Manufactured homes are often considered an affordable housing solution, offering a lower cost compared to traditional site-built homes. They cater to a wide range of homebuyers, including individuals, families, retirees, and those looking for second homes.
Construction and Design:
Manufactured homes are constructed using standardized building techniques in a controlled factory environment. They are built to comply with local building codes and regulations. The design options have evolved significantly over the years, with various floor plans, finishes, and customization options available.
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Energy Efficiency:
Modern manufactured homes are designed to be energy-efficient, with features such as improved insulation, energy-efficient appliances, and HVAC systems. This focus on energy efficiency not only reduces environmental impact but also lowers utility costs for homeowners.
Financing and Regulations:
Financing options for manufactured homes have improved, making it easier for buyers to secure loans. However, it's important to note that financing terms and availability may vary depending on factors such as location, home type, and borrower qualifications. Additionally, regulations governing manufactured housing vary from region to region, and compliance with local building codes is essential.
Top Players:
The key players profiled in the manufactured housing market report include Berkshire Hathaway Inc., Cavco Industries Inc., Cumberland Japan Co. Ltd., Domino Homes SIA, Nobility Homes Inc., Omar Park Homes Ltd., Q Prefab OÜ, Skyline Champion Corporation, The Commodore Corporation, and Wigo Group.
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It's important to note that the specific dynamics of the manufactured housing market may vary based on regional factors, including local regulations, housing demands, and economic conditions. For the most accurate and up-to-date information on the current state of the manufactured housing market, it is recommended to consult industry reports and experts within the field.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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