Growing Consumer Preference for Modular Homes Drives the Prefabricated Housing Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 25, 2015 -- Follow us on LinkedIn – With governments worldwide focused on addressing issues related to the supply of affordable housing, demand for prefabricated housing is expected to witness healthy growth. Adequate, affordable and quality homes are building blocks for the creation of strong and stable communities. Adoption of comprehensive community development strategies is benefiting prefabrication technologies which allow houses to be built quickly and cost effectively. The need for affordable housing additionally attracts increased attention in the present economic climate where consumers are wary of spending heavily on site-built homes. Prefabricated homes come at a price which is about 20 percent lesser than traditional homes built on-site.
Manufactured, modular, panelized, and precut homes are major types of prefab housing solutions available in the United States. Manufactured housing represents the largest market segment accounting for the bulk of shipments. While manufactured homes are built according to HUD building Code, modular, panelized, and precut homes are built as per the state and local building regulations. Prefabricated housing market is mature in the United States and is driven by favorable federal housing policies and national level efforts to improve housing conditions. Key factors driving growth of modular homes include monetary, legal, and taxation benefits on par with onsite-built homes, and growing environmental awareness and regulatory pressures which are encouraging interest in eco-friendly and energy-efficient homes. Other advantages offered by factory built homes include better quality and durability as building processes carried out in controlled environments; reduced raw material wastages; and economies of scale in purchasing building materials and components. Given their huge order quantities, manufacturers of prefabricated housing have higher bargaining power with material suppliers. The production cost benefits achieved in manufacturing factory built homes are passed on to the final customer, making prefab houses cheaper and affordable.
As stated by the new market research report, prefabricated housing is re-emerging as a one-stop solution for affordable, eco-friendly housing in the United States, after years of sluggish growth. Single-Section Manufactured Housing is expected to witness the highest growth at a projected CAGR of 5.4% over the analysis period.
Leading players covered in the report include American Ingenuity Inc., American Homestar Corporation, Cavco Industries Inc., Palm Harbor Homes, Champion Home Builders Inc., Clayton Homes Inc., Commodore Corp., Deltec Homes Inc., Endeavor Homes, Gastineau Log Homes, Innovative Building Systems Inc., All American Group LLC, Excel Homes Group LLC, Lindal Cedar Homes Inc., Muncy Homes Inc., New Panel Homes Inc., Pacific Modern Homes Inc., Pleasant Valley Homes Inc., Professional Building Systems Inc., Ritz-Craft Corporation Inc., Signature Building Systems Inc., Skyline Homes, Southland Log Homes, and Wisconsin Log Homes Inc., among others.
The research report titled “Prefabricated Housing: A US Market Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of the value chain, product and market trends as well as challenges, growth drivers, competitive scenario, and regulations in the US prefab housing market. The report provides market estimates and forecasts of unit shipments of prefabricated houses in the US market across major product segments, such as, Manufactured Housing (Single-Section and Multi-Section), Modular Housing, Precut Housing and Panelized Housing.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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