Press release
Single-Family Housing Construction Market Booms with Trends and Growth Opportunities
Single-Family Housing Construction (Individual Houses) Global Market Report 2024
The Business Research Company offers in-depth market insights through Single-Family Housing Construction (Individual Houses) Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The single-family housing construction (individual houses) market size has grown strongly in recent years. It will grow from $794.32 billion in 2023 to $838.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to economic growth and consumer confidence, low mortgage rates, population growth and household formation, government housing policies and incentives, real estate market dynamics..
The single-family housing construction (individual houses) market size is expected to see strong growth in the next few years. It will grow to $1056.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to demographic shifts and millennials homeownership, affordability challenges and entry-level housing, interest rate fluctuations, sustainability and energy-efficient construction, urban renewal and redevelopment.. Major trends in the forecast period include wellness-focused design principles, outdoor living spaces, technology-enhanced construction processes, affordable housing solutions, resilient and disaster-resistant construction, customization and personalization..
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Market Segmentation:
The single-family housing construction (individual houses) market covered in this report is segmented -
1) By Type: Permanent, Relocatable
2) By Material: Steel, Wood, Concrete, Other Materials
3) By Application: Residential, Commercial, Industrial
Major Driver - Rising Demand For Single-Family Housing Construction Drives Market Growth
Rising demand for housing is expected to propel the growth of the single-family housing construction (individual houses) market going forward. Housing demand refers to the type and number of houses that people will choose to occupy depending on their preferences and financial ability. As the housing is an economic investment for households and builders, and provides shelter, offering protection against inclement weather and victimization by street crime, number of single-family housing constructions are increasing. For instance, in February 2023, according to the Census Bureau, a US-based principal agency of the Federal Statistical System, privately-owned housing units authorized by building permits were 1,524,000, a 13.8% above the revised January rate of 1,339,000. Therefore, the rising demand for housing is driving the growth of the single-family housing construction (individual houses) market.
Competitive Landscape:
Major companies operating in the single-family housing construction (individual houses) market report are Red Sea Housing Services Co., Skanska AB, Bouygues Construction SA, ACS Group Inc., Lindal Cedar Homes Inc., Kiewit Corporation, Balfour Beatty plc, Taisei Corporation, System House R & Co. Ltd., Larsen & Toubro Limited, Algeco Scotsman Inc., Skyline Champion Corporation, Kirby Building Systems LLC, Butler Manufacturing Company, Astron Buildings SA, D.R. Horton Inc., Lennar Corporation, PulteGroup Inc., NVR Inc., Taylor Morrison Home Corporation, Meritage Homes Corporation, KB Home Inc., Clayton Properties Group Inc., Toll Brothers Inc., M/I Homes Inc., Beazer Homes USA Inc., Hovnanian Enterprises Inc., LGI Homes Inc., Century Communities Inc., AV Homes Inc., William Lyon Homes Inc., Richmond American Homes of Maryland Inc., Fischer Homes, Gehan Homes Ltd. .
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Top Trend - Technological Advancements Reshaping Single-Family Home Construction
Technological advancements are a key trend gaining popularity in the single-family home construction (individual houses) market. Major companies operating in the single-family home construction (individual houses) market are developing using advanced technologies such as modular construction, AI, digital twins, blockchain technology, virtual and augmented reality, 4D simulations, and 3D printing to simplify construction in terms of time and cost. For instance, in January 2023, The Department of Science and Innovation (DSI), a South African government department responsible for scientific research, including space programs, along with the University of Johannesburg (UJ), a South Africa-based university, launched South Africa's first printed building using a 3D concrete printer. 3D concrete printing is a construction method by which the printer's path is pre-programmed and prints layer by layer and use computer-controlled robots to print 3D structures for houses and other infrastructure.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Single-Family Housing Construction (Individual Houses) Market Characteristics
3. Single-Family Housing Construction (Individual Houses) Market Trends And Strategies
4. Single-Family Housing Construction (Individual Houses) Market - Macro Economic Scenario
5. Single-Family Housing Construction (Individual Houses) Market Size And Growth
…..
27. Single-Family Housing Construction (Individual Houses) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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