Portland, OR, Nov. 10, 2020 (GLOBE NEWSWIRE) -- As per the reports published by Allied Market Research, the global manufactured housing market was pegged at $27.18 billion in 2019, and is projected to garner $38.84 billion by 2027, growing at a CAGR of 6.5% from 2020 to 2027.
Increase in government spending on residential construction, rapid growth in global population and urbanization, and surge in cost of residential construction drive the growth of the global manufactured housing market. Moreover, availability of mortgage loans supplements the market. However, varying prices of raw materials and dearth of skilled workforce hamper the market. On the contrary, innovative technological developments would open new opportunities for the market players in the future.
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The global manufactured housing market is categorized on the basis of number of sections, location, application, and geography. Based on number of sections, the market is segmented into single section, double section, and multi-section. The double section segment is expected to manifest the highest CAGR of 6.9% from 2020 to 2027. In addition, the segment dominated the market in 2019, accounting for nearly half of the market.
Covid-19 scenario:
- Prolonged lockdown across various countries has caused disruption in supply chain and international trade and completely ceased new construction activities.
- However, as governments announced relaxation in lockdown measures, the market is expected to gain momentum soon.
Get detailed COVID-19 impact analysis on the Manufactured Housing Market: https://www.alliedmarketresearch.com/request-for-customization/6583?reqfor=covid
Based on application, the market is classified into residential and non- residential. On the basis of location, the market is divided into private property and MH communities. The private property segment is expected to register the highest CAGR of 7.3% during the forecast period. However, the MH communities segment held the largest share in 2019, contributing to more than two-thirds of the market.
The global manufactured housing industry is analyzed across various regions such as North America, Asia-Pacific, LAMEA, and Europe. The market across North America held the lion’s share in 2019, accounting for two-fifths of the market. However, the market across Asia-Pacific is expected to manifest the highest CAGR of 8.8% during the forecast period.
The global manufactured housing market report includes an in-depth analysis of the major market players such as Cumberland Japan Co. Ltd., Cavco Industries Inc., Nobility Homes Inc., Wigo Group, Omar Park Homes Ltd., Domino Homes SIA, Q Prefab OÜ, Skyline Champion Corporation, Berkshire Hathaway Inc., and The Commodore Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.