Reduction in cost & time required for construction, ease in installation & relocation, and need for protection from changing environmental conditions drive the growth in the global container homes market
PORTLAND, Oregon, April 18, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Container Homes Market by Container Type (New Container and Old/Scrap Container), Offering (Factory Built and On-Site Built), Architecture Type (Tiny Houses, Duplex/Bungalows, and Multistory Buildings/Apartments), Construction Type (Fixed and Movable), and End User (Residential Homes, Recreational Homes, Emergency Homes, and Nursing Homes): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report offers an extensive analysis of key player positioning, changing market dynamics, major winning strategies, market size & estimations, and competitive scenario. According to the report, the global container homes market size would reach $73.07 billion by 2025, from $44.76 billion in 2017, registering a CAGR of 6.5% from 2018 to 2025.
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Reduction in cost & time required for construction, ease in installation & relocation, and need for protection from changing environmental conditions drive the growth in the market. Moreover, increase in government initiatives toward green building concept and demand for compact homes in large cities supplement the market growth. However, large investment on HVAC systems and possibility of corrosion restrain the growth in the market. On the other hand, rise in focus on affordable housing structures and demand for new construction projects create new opportunities.
Old/scrap container to be lucrative by 2025
Based on container-type, old/scrap container contributed more than three-fourths of the total market share in 2017 and will maintain its dominance in terms of revenue throughout the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 7.2% from 2018 to 2025. It is a lucrative segment, owing to ease in availability and cost effectiveness. The research also analyzes new/idle containers.
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Duplex/bungalow segment to maintain its dominant share throughout the forecast period
Based on architecture type, the duplex/bungalow segment accounted for more than one-third of the total market share in 2017 and will maintain its dominance throughout the forecast period. This is due to increase in focus towards development of DIY style houses through multiple container blocks. However, the multi storey building/apartments segment is expected to grow at the fastest CAGR of 8.8% from 2018 to 2025, owing to lack of abundance of housing units and surge in demand for new construction.
North America to continue its dominance by 2025
North America held the major share in 2017, accounting for nearly two-fifths of the total market share and is expected to continue its dominance by 2025. This is due to rise in demand for affordable housing structures as there is limited availability of space in the region. Asia-Pacific is expected to register the highest growth rate, with a CAGR of 7.5% from 2018 to 2025, owing to rapid urbanization, excellent economic growth, and less time & cost required for construction of container homes.
Frontrunners in the industry
Key market players analyzed in the research include Anderco Pvt Ltd., Giant Containers, Container Homes USA, Royal Wolf, HONOMOBO, Shanghai Haicheng Special Steel Container Co., Ltd., SG Blocks, Inc., Supertech Industries, Speed House Group of Companies., and Temohousing.
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SOURCE Allied Market Research