The foldable houses market has witnessed significant growth in the past few years, owing to a surge in global population and urbanization. The rising population and inflation are the major factors leading to increasing poverty and homelessness. Since foldable houses are cheap and easy to deploy, they are largely used for building shelters for homeless people, leading to a growth in the market.
Foldable house is a relatively newer concept and is still in the introductory phase. Various countries in Europe, in North America, and Japan, China and South Korea in Asia-Pacific are known to adopt new technology relatively quicker than the countries in rest of the world. Therefore, the foldable houses market is witnessing a significant growth in these regions. In addition, the sustainability of the foldable houses is also a major factor driving demand for foldable houses.
Download Free Sample PDF Now (150+ Pages with More Insight) – https://www.alliedmarketresearch.com/request-sample/32222
Moreover, various developments in the foldable houses market such as publicity by billionaire Elon Musk, and rapidly increasing acceptance of the prefabricated housing industry are expected to provide lucrative opportunities for the growth of the foldable houses market.
According to a new report published by Allied Market Research, titled, “Foldable Houses Market,” The foldable houses market size was valued at $7.1 billion in 2021, and is estimated to reach $16.8 billion by 2031, growing at a CAGR of 9% from 2022 to 2031.
Commonly foldable houses are constructed in two types; single section and multi section. Among these, the multi section segment accounted for the highest market share in 2021, owing to its ability to house a greater number of people. The foldable houses market share is analyzed with respect to different architectures including slope roof and flat roof. Out of these, the flat roof segment registered the highest revenue in 2021, owing to its easy manufacturing and deployment.
And, on the basis of end user, the market is categorized into single family and multi family. The market is mainly driven by the high sustainability of foldable houses, increasing demand for shelters for homeless people, and growth in the prefabricated housing industry. However, fluctuating costs of raw materials used for making foldable houses, and structural limitations of foldable houses have the potential to limit the foldable houses market growth.
In 2021, North America dominated the global market, in terms of revenue, followed by Europe and Asia Pacific. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR, owing to the growth in population. Furthermore, foldable house manufacturers are adopting various development strategies to remain competitive in the market.
For instance, in 2020, Modulous Housing, an India based manufacturer of portable foldable houses has begun working with various construction companies, NGOs, and event management firms to provide foldable shelters that are easily portable and deployable.
Download Free Sample PDF Now (150+ Pages with More Insight) – https://www.alliedmarketresearch.com/request-sample/32222
However, during the pandemic lockdown, various manufacturers in the foldable houses market had to stop their business in countries such as China, the U.S., Japan, and countries in Europe. This break directly impacted the sales of foldable houses manufacturing companies.
In addition, the lack of manpower and raw materials constricted the supply of raw materials for foldable houses; thus, negatively influencing the growth of the market. Conversely, after two years of the COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
More Reports –
Blanking Machine – https://www.einpresswire.com/article/599303024/blanking-machine-market-expected-to-reach-1-45-billion-by-2030-industry-revenue-share-growth-analysis-and-forecast
Global One-Way Valve – https://www.einpresswire.com/article/599305059/one-way-valves-market-is-expected-to-reach-5-3-billion-by-2028-industry-revenue-share-drivers-trends-analysis
Asia-Pacific Aluminum Cladding Panels – https://www.einpresswire.com/article/599307362/asia-pacific-aluminum-cladding-panels-market-expected-to-reach-3-9-billion-by-2028-industry-revenue-trend-analysis
UK Containment Barrier – https://www.einpresswire.com/article/599309347/uk-containment-barrier-market-is-expected-to-reach-370-2-million-by-2028-industry-revenue-share-trends-analysis
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060