Global Industry Analysts has released a comprehensive review of the Prefabricated Housing markets. Global Prefabricated Housing shipments are projected to reach 836 thousand units by 2017.
Positive governmental regulations, continuous technological developments, ongoing recovery in international economies and growing advocacy activities of manufacturers will act as principal growth drivers in the global market.
Housing industry in the US and UK underwent a major makeover with the initiation of systems-built/prefabricated/manufactured (mobile) home concept. The prefabricated housing sector journeyed a long path of evolution starting from exported by train to mobile home parks and finally came to be a factory-built home. Currently, in many parts of the globe, mobile homes are being considered as permanent residences for the middle-income individuals. The Manufactured Homes section in the prefabricated housing market is seen as the most competing category in the housing industry and it accounts for about 10% of the single-family housing starts in the US. Purchase of manufactured homes increased in 2011.
With a decline in expensive-to-maintain homes, demands are growing for manufactured homes. However, the greatest challenge that confronts the manufactured homes segment is a shortage of retail financing. Securing retail credit for the manufacturing section is also a daunting task for customers with faultless records.
The global housing industry is also moving in the direction of a green identity with a growing attraction towards eco-friendly, energy-efficient and prefabricated homes in modular designs. The demand for green modular homes is likely to grow higher in the coming years with a growing interest towards energy-efficient heating and cooling systems and grey water re-using capabilities.
The US and Europe are harvesting majority share in the prefabricated housing market at the global level. In the future, quick development from burgeoning and new markets of India, China, Korea, Taiwan and others is expected to position the Asia-Pacific region on the fast track, forcing a strong growth rate of 4.4% within 2017.
Source: http://www.strategyr.com/