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Rising Demand For Single-Family Housing Construction Drives Market Growth Emerges as a Core Driver of the Single-Family Housing Construction (Individual Houses) Market in 2025
Single-Family Housing Construction (Individual Houses) Market
What Is the Expected CAGR for the Single-Family Housing Construction (Individual Houses) Market Through 2025?
Remarkable growth has been observed in the single-family housing construction (individual houses) market size in the last few years. The market, valued at $795.4 billion in 2024, is projected to rise to $840.52 billion in 2025. This equates to a compound annual growth rate (CAGR) of 5.7%. Several factors have contributed to this historical growth, including economic expansion and increased consumer confidence, advantageous mortgage rates, an expanding population and household formation, governmental policies and incentives for housing, and the dynamics of the real estate market.
What's the Projected Size of the Global Single-Family Housing Construction (Individual Houses) Market by 2029?
The market size of single-family housing construction, which includes individual homes, is predicted to experience considerable expansion in the coming years. The market is set to surge to $1079.66 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this projected growth during the forecast period include demographic changes, millennial home buying trends, affordability issues related to entry-level properties, interest rate shifts, energy-efficient building practices, and urban revitalization efforts. Significant trends anticipated during this period encompass designs centered around wellness, outdoor living areas, tech-assisted construction methods, budget-friendly housing strategies, robust and disaster-proof building models, alongside customization and personalization options.
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Top Growth Drivers in the Single-Family Housing Construction (Individual Houses) Industry: What's Accelerating the Market?
Anticipations for an escalation in housing desire are set to bolster the expansion of the single-family housing construction (individual houses) market. The term "housing demand" is characterized by the kind and quantity of houses individuals opt to reside in, reliant on their financial capacity and personal preferences. Considering that housing constitutes an economic venture for builders and households while providing a safe shelter and security against harsh weather and street crime, the count for single-family house constructions is on the rise. For example, per the US Census Bureau announcement in February 2023, a principal institution in the Federal Statistical System, the building permits authorized 1,524,000 privately-owned housing units. This marked a 13.8% increment above the revised rate of 1,339,000 from January. Consequently, the growing demand for housing is directly escalating the growth of the single-family housing construction (individual houses) market.
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What Trends Will Shape the Single-Family Housing Construction (Individual Houses) Market Through 2029 and Beyond?
A major trend rapidly gaining traction in the single-family home construction (individual houses) market is the incorporation of technological advancements. Leading firms in this market are employing cutting-edge technologies, including but not limited to, modular construction, AI, digital twins, blockchain technology, virtual and augmented reality, 4D simulations and 3D printing, in a bid to streamline construction while saving time and costs. A case in point is a project initiated in January 2023 when The Department of Science and Innovation (DSI), a government agency in South Africa committed to scientific research (including space programs), and the University of Johannesburg (UJ), a South African university, introduced South Africa's inaugural 3D printed building produced via a 3D concrete printer. This method of 3D concrete printing is a revolutionary construction technique that deploys computer-controlled robots to print 3D structures layer by layer for houses and other infrastructure after being pre-programmed.
What Are the Main Segments in the Single-Family Housing Construction (Individual Houses) Market?
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
Subsegments:
1) By Permanent: Traditional Single-Family Homes, Modular Homes, Manufactured Homes
2) By Relocatable: Mobile Homes, Temporary Housing Units, Prefabricated Homes
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Which Top Companies are Driving Growth in the Single-Family Housing Construction (Individual Houses) Market?
Major companies operating in the single-family housing construction (individual houses) market include Skanska AB, Bouygues Construction SA, ACS Group Inc., Lindal Cedar Homes Inc., Algeco Scotsman Inc., Skyline Champion Corporation, 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.
Which Regions Will Dominate the Single-Family Housing Construction (Individual Houses) Market Through 2029?
Asia-Pacific was the largest region in the single-family housing construction (individual houses) market in 2024. Europe is expected to be the fastest-growing region in the single-family housing construction (individual houses) market report during the forecast period. The regions covered in the single-family housing construction (individual houses) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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