Manufactured Homes and Mobile Homes Market

The building and construction industry is going through adverse situations. Various aspects such as project suspension, risk management and insurance, workforce management, delay in the supply chain, dispute process, scheduling and adjustment, and contract notices for default, have affected the growth dynamics during this period. Manufactured homes and mobile homes are innovative solutions for meeting the needs of quality and affordable accommodation. The housing units are designed and manufactured at a factory. After the project completion, the manufactured housing is transported and installed at the desired respective location. Lesser carbon footprint and energy efficiency are key factors that drive growth in the manufactured homes and mobile homes market in developed countries.

Steel is a major raw material for the building and construction industry. But the continuous fluctuation in the prices of steel affects the profit of suppliers and restrains the growth of the manufactured homes and mobile homes market. Apart from this, buying a house becomes costly because of increasing interest rates for mortgage loans. The high rates are also adversely affecting the manufacturing and construction industry. COVID-19 pandemic has affected the global economy and disrupted the operations of companies. It has forced the companies to delay their projects due to imposed lockdown by the government. The lockdown restrictions have curbed the flow of revenue for market players. Social distancing and imposed lockdown have resulted in a shortage of manpower. All these factors are restricting the market growth.

Manufactured Homes and Mobile Homes Market: Overview

The drive for Manufactured Homes and Mobile Homes market stems from the traction that affordable homes have gathered in worldwide populations. The growing popularity of prefabricated homes is a key trend that has bolstered the expansion of the Manufactured Homes and Mobile Homes market. Manufactured, modular, and mobile homes all are different terms, technically. The key differentiating parameters are design and construction; body and frame requirements; thermal protection; plumbing and electrical fire safety; and energy efficiency.

The contours of the global manufactured homes, modular homes, and mobile market has witnessed the rise of site-built homes that are made to comply to regional, local, and national regulations and building codes. One such code is Federal Manufactured Housing Construction and Safety Standards Act in the U.S. Key application areas are commercial and residential sectors.

Manufactured Homes and Mobile Homes Market: Key Trends

The drive for affordable housing for people who need to move frequently has propelled the demand of manufactured and mobile homes. The increasing trend of making modular and manufactured homes customized has spurred growth in the Manufactured Homes and Mobile Homes market. Modular homes are especially attractive due to the fact that they produce less waste since they are made in climate controlled home building facilities. The key advantages underpinning the popularity are energy savings, shorter build times, and robust build.

Advances being made in safety standards are boosting the growth potential for businesses in the Manufactured Homes and Mobile Homes market. These homes also reduce weather-related delays.

Manufactured Homes and Mobile Homes Market: Competitive Analysis and Key Developments

Companies in the Manufactured Homes and Mobile Homes market are aiming to offer home buyers a mix of site-built and off-site homes. Most players are expected to gain a foothold by adopting state-of-the-art design and home building technologies. Several players are fervently meeting the needs of strength and durability of manufactured homes by using quality materials. Top players are cautious of meeting all local and regional housing building codes.  They are employing trained craftsmen also.

Several players in the Manufactured Homes and Mobile Homes market are attracting prospective dwellers with cost-efficient solutions. They are keen on ensuring that all stages of offs-site building process is closely monitored. Top players are leveraging their technical expertise to customize the homes to meet the changing demands of consumers, particularly in relation to flooring, cabinetry, and exterior finish.

Some of the players aspiring for prominent stakes in the Manufactured Homes and Mobile Homes market are:

• Wardcraft Homes
• Blu Homes, Inc.
• Nationwide Homes
• Chief Industries, Inc.
• Commodore Homes
• Professional Building Systems, Inc.
• Pleasant Valley Homes, Inc.
• Redman Homes

Other prominent companies in the market are Irontown Homes, Woodlund Homes, Nobility Homes, Palm Harbor Homes, Red Sea Housing, Kwikspace Modular Buildings (Pty) Ltd., Jacobsen Homes, Modular Space Corporation, Daiwa House, Champion Homes, Cavco Industries, Inc., Laing O'Rourke, Seikisui House, Lendlease Corporation, and Algeco Scotsman.

Manufactured Homes and Mobile Homes Market: Regional Assessment

The study offers a critical assessment of the current opportunities and emerging avenues in various regions. It also takes a closer look at the share and size of key regional markets in the global landscape. Further, it offers scrutiny of the trends and factors that stimulate investments in some regions. It also takes a closer look at the new avenues that might crop at established markets.

Key regions analysed in the study are North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. Some of the key countries where opportunities are expected to rise at the U.S., China, India, and the U.K.