March 01, 2023 07:28 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, March 01, 2023 (GLOBE NEWSWIRE) -- 2 Bedroom Modular House
The global container homes market size was USD 56.85 billion in 2021. The market is expected to grow from USD 59.27 billion in 2022 to USD 87.11 billion by 2029 at a CAGR of 5.7% in the 2022-2029 period. This information is provided by Fortune Business Insights, in its report titled, “Container Homes Market, 2022-2029.”
Rising Demand for Energy-efficient Constructions to Propel Industry Growth
Various governments are pushing the encouragement of energy-efficient manufacturing and infrastructure projects. This is one of the major factors propelling the container homes market growth over the forthcoming years.
However, the market is likely to be hindered on account of the limited lifespan of container houses, which depends on the surrounding climate.
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Surge in Product Demand Driven by their Conversion into Emergency Units
The COVID-19 pandemic led to supply chain disruptions affecting the supply of hardware accessories such as bolts and nuts. Furthermore, enforcement of lockdown restrictions and workforce shortages impacted the profitability of operations. However, these were effective in the treatment of coronavirus patients. They provided more screen space and decreased the consumption of personal protective equipment.
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Fixed Segment to Gain Traction Owing to the Benefit of Cost Effectiveness
On the basis of type, the market is fragmented into movable and fixed. Of these, fixed container homes are expected to record commendable expansion over the projected period. The rise can be attributed to their cost-effective nature as they do not need additional assembly.
Tiny House to Record Substantial Expansion Driven by Soaring Demand for Cheaper Alternatives
On the basis of architecture type, the market is segmented into multistory building/apartments, duplex/bungalow, and tiny house. The tiny house segment is estimated to register lucrative growth throughout the estimated period. The surge can be credited to the escalating need for cheaper alternatives and sustainability.
Residential Segment to Depict Appreciable Growth on Account of Rising Product Demand
Based on end-user, the market for container homes is subdivided into industrial, residential, and commercial. Of these, the residential segment is slated to exhibit a notable surge over the forecast period. The upsurge is on account of the escalating popularity of these homes for numerous leisure activities.
Considering the regional landscape, the market has been analyzed across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
North America to Depict Lucrative Growth Owing to Rising Usage of AI in Product Development
The North America container homes market share is set to rise considering the increasing usage of artificial intelligence for the development of better designs. The technology helps in identifying and solving problems before the commencement of the manufacturing process.
The Asia Pacific market is poised to record substantial expansion throughout the estimated period. The rise can be attributed to various factors such as decreased construction costs and the availability of used containers.
Leading Players Enter into Partnership Agreements to Strengthen Market Position
Major manufacturers of container homes are set to register remarkable expansion over the forecast period. They are entering into collaborative agreements and partnerships for the consolidation of their industry position. Additional steps include the formation of alliances, acquisitions, an increase in research activities, and merger agreements.
November 2022 – Royal Wolf inked a collaboration with Reliable Software Solutions for scaling up innovation. Reliable Software Solutions was working on a scanning technology for the mining sector and needed to change the construction of the platform on which the equipment was mounted.
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List of Key Players Present in the Market
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How big is the Container Homes Market?
The global Container Homes Market size was estimated at USD 56.85 billion in 2021 and is expected to reach USD 59.27 billion in 2022
What is the Container Homes Market growth?
The global Container Homes Market is expected to grow at a compound annual growth rate of 5.7% from 2022 to 2029 to reach USD 87.11 billion by 2029
What are the end-users of the container homes market?
Based on end-user, the market is divided into residential, commercial, and industrial.
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