Manufactured Housing Market: A Comprehensive Look at the Industry At a CAGR of 6.5% from 2020 to 2027

Manufactured Housing Market Expected to Reach $38.8 Billion by 2027

WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- Drivers, restraints, and opportunities-

Growth in worldwide population, rapid urbanization, rise in government spending on residential construction, availability of mortgage loans, and surge in cost of residential constructions fuel the global manufactured housing market. Nevertheless, high-end technological advancements & innovations are expected to create multiple opportunities in the industry.

Allied Market Research published a report, titled, the global manufactured housing industry was estimated at $27.18 billion in 2019, and is anticipated to hit $38.84 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.

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The double section segment to dominate by 2027-

Based on number of sections, the double section segment contributed to nearly half of the global manufactured housing market revenue in 2019 and is expected to rule the roost by the end of 2027. The same segment would also portray the fastest CAGR of 6.9% throughout the forecast period. Rise in need for the balance between luxury living and affordability fuels the segment growth.

The MH communities segment to maintain the dominant share-

Based on location, the MH communities segment contributed to more than two-thirds of the global manufactured housing market share in 2019 and is anticipated to lead the trail till 2027, due to appreciation in property value over time. At the same time, the private property segment would manifest the fastest CAGR of 7.3% from 2020 to 2027, owing to shortage of affordable and quality housing.

North America garnered the major share in 2019-

Based on region, North America garnered the major share in 2019, generating around two-fifths of the global manufactured housing market. The region is anticipated to lead the trail throughout the forecast period. Simultaneously, Asia-Pacific would showcase the fastest CAGR of 8.8% from 2020 to 2027, due to growing population and rapid urbanization.

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Key Segments:

By Number Of Section -

Single section
Double section
Multi-section

By Location -

Private Property
MH Communities

By Application -

Residential
Non-residential

Top Players:
Cavco Industries, Inc., Q Prefab OÜ, SKYLINE CHAMPION CORPORATION, CUMBERLAND JAPAN CO., LTD., NOBILITY HOMES, INC., THE COMMODORE CORPORATION, DOMINO HOMES SIA, BERKSHIRE HATHAWAY INC., OMAR PARK HOMES LIMITED, .WIGO GROUP

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David Correa
Allied Market Research
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