Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Single-Family Housing Construction (Individual Houses) Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The report uncovers that the single-family housing construction market size, valued at $794.32 billion in 2023, is envisaged to grow to $838.97 billion in 2024, recording a CAGR of 5.6%. This substantial growth trajectory is bolstered by an array of factors, including favorable government housing policies, low-interest rates, and growing demand for sustainable housing.
Looking towards the horizon of 2028, the report predicts the market will reach an impressive $1056.11 billion at a CAGR of 5.9%. The appetite for single-family homes is stimulated by demographic shifts, particularly millennial homeownership, as well as an increasing focus on energy efficiency and smart home technology.
Key Insights into Single-Family Housing Construction Market Dynamics
The global market for single-family housing construction (individual houses) is undergoing significant expansion attributed to various economic, demographic, and technological trends. A newly released market research report provides a comprehensive analysis of the industry, highlighting the robust growth prospects and emerging trends that are expected to shape the market in the coming years.
Leading Trends and Drivers in Single-Family Housing Construction
- Green Building Practices:
The surge in green building adoption plays a pivotal role in the market's ascension. The report indicates a pronounced demand for environmentally responsible and resource-efficient construction methods.
- Technological Advancements:
Innovation is at the forefront of the market's evolution, with advancements such as modular construction, 3D printing, and AI reshaping how single-family homes are designed and built. The recent unveiling of South Africa's first 3D-printed building highlights the industry's commitment to cutting-edge practices.
- Mergers and Acquisitions:
Strategic business movements, such as the 2022 acquisition of Arden Homes Pty Ltd by Asahi Kasei Homes Corporation, exemplify the market’s competitiveness and the pursuit of expansion and diversification.
- Product Innovation:
Enterprises are relentlessly pushing the envelope in product development. Innovations like prefab backyard units have emerged, merging convenience with modern sustainability features.
The Geographical Landscape of Market Growth
The Asia-Pacific region commands the largest single-family housing construction market share as of 2023, owing to positive economic indicators and burgeoning urbanization. Europe is poised to be the fastest-growing market during the forecast period, driven by a combination of policy support and growing demand for custom-built homes.
Countries like the United States and Canada in North America, alongside emerging nations in Asia and Europe, are spotlighted for their significant contributions to the market's growth.
Comprehensive Report for Stakeholders and Decision-Makers
The detailed report is tailor-made for stakeholders within the single-family housing construction market, offering insights on competitive strategies, market shares, trends, and projections for the future. Major players in the industry, such as D.R. Horton Inc., Lennar Corporation, and PulteGroup Inc., among others, are closely analyzed to understand their impact on the market dynamics.
Providing a deep dive into the complexities of the market, the report serves as a valuable asset for builders, investors, policymakers, and other industry professionals seeking to navigate the evolving single-family housing construction landscape effectively.
The research is adeptly structured to cover various classifications and materials utilized in single-family housing constructions, shedding light on the industry's far-reaching applications across residential, commercial, and industrial sectors.
A selection of companies mentioned in this report includes
- Red Sea Housing Services Co.
- Skanska AB
- Bouygues Construction SA
- ACS Group Inc.
- Lindal Cedar Homes Inc.
- Kiewit Corporation
- Balfour Beatty plc
- Taisei Corporation
- System House R & Co. Ltd.
- Larsen & Toubro Limited
- Algeco Scotsman Inc.
- Skyline Champion Corporation
- Kirby Building Systems LLC
- Butler Manufacturing Company
- Astron Buildings SA
- D.R. Horton Inc.
- Lennar Corporation
- PulteGroup Inc.
- NVR Inc.
- Taylor Morrison Home Corporation
- Meritage Homes Corporation
- KB Home Inc.
- Clayton Properties Group Inc.
- Toll Brothers Inc.
- M/I Homes Inc.
- Beazer Homes USA Inc.
- Hovnanian Enterprises Inc.
- LGI Homes Inc.
- Century Communities Inc.
- AV Homes Inc.
- William Lyon Homes Inc.
- Richmond American Homes of Maryland Inc.
- Fischer Homes
- Gehan Homes Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/7sizf3
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