New York, NY – Jan. 18, 2022 (PRNewswire) According to the market report “Tiny Homes Market by Product and Geography – Forecast and Analysis 2021-2025“, the market will witness a YOY growth of 2.78% in 2021 at a CAGR of 4% during the forecast period. The report is segmented by product (mobile tiny homes and stationary tiny homes) and geography (North America, Europe, APAC, South America, and MEA).
Vendor Insights
The tiny homes market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
Vendors are being compelled to use various growth methods such as promotional activities and advertising to increase the visibility of their services as the market becomes more competitive. To stay competitive in the industry, some suppliers are pursuing inorganic growth tactics such as mergers and acquisitions.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Cavco Industries Inc.
- CMH Services Inc.
- Handcrafted Movement
- Heirloom Inc.
- Humble Hand Craft
- Oregon Cottage Co.
- Skyline Champion Corp.
- Tiny Home Builders
- Tiny SMART House Inc.
- Tumbleweed Tiny House Co.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.
Geographical Market Analysis
North America will provide maximum growth opportunities in tiny homes during the forecast period. According to our research report, the region will contribute to 58% of the global market growth and is expected to dominate the market through 2025. North America will generate growth across all the years of the forecast period. The year-on-year growth is estimated at 2.78% during this period.
Because of reasons such as rising property prices and consumer interest in pre-built or custom-built homes, North America dominated the worldwide tiny homes market in 2020. Tiny house construction has increased steadily in North American countries such as the United States and Canada in recent years. The rise in housing expenses, along with a growing desire to live in compact, movable dwellings, has boosted demand for tiny homes, particularly those on wheels. Furthermore, in the United States, the presence of a significant population of millennials, as well as a surge in high-net-worth people (HNWIs) and ultra-net-worth individuals (UHNWIs), has fueled demand for custom-built tiny homes.
Furthermore, countries such as the US, Canada, UK, Germany, and France are expected to emerge as prominent markets for tiny homes during the forecast period.
Know more about this market’s geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/tiny-homes-market-industry-analysis
Key Segment Analysis
The tiny homes market share growth by the mobile tiny home segment will be significant during the forecast period. The demands for transportable tiny homes have skyrocketed in the last few years. These homes have permanently attached chassis and are fabricated and assembled in a facility before being transported to the desired location on wheels or trucks. In some nations, mobile tiny dwellings are essential in the affordable housing market. With the rising cost of traditional residences in most nations, demand for these dwellings is likely to climb significantly in the next five years. The difficulty of young people to buy traditional residences, as well as the need for retired people to maximize their savings, are the primary drivers of demand for transportable tiny homes around the world.
View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.
Key Market Drivers & Trends:
The affordable by mass section of the population is notably driving the tiny homes market growth. Tiny houses are widely regarded as the most cost-effective housing option, particularly among millennials. Tiny homes are a fraction of the cost of regular residences and can be customized to meet the needs of consumers. These homes can be acquired for a fraction of the cost of traditional site-built residences. The high expense of constructing a traditional home puts a strain on the buyer’s finances. As a result, the high cost of traditional homes incentivizes buyers to choose tiny homes, which serves as a major growth driver for the market.
Another key element driving small home market share growth is the growing demand for personalization. Vendors must focus on techniques such as speedier delivery, mass customization, and personalization due to the rapid expansion of tiny dwellings and increased market competitiveness. The demand for custom-built tiny homes is expanding as buyers become more aware of the availability of small, affordable homes in a variety of sizes, designs, and structures.
Download a free sample for highlights on market Drivers & Challenges affecting the tiny homes market.
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| Tiny Homes Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2020 |
| Forecast period | 2021-2025 |
| Growth momentum & CAGR | Accelerate at a CAGR of 4% |
| Market growth 2021-2025 | $ 3.33 billion |
| Market structure | Fragmented |
| YoY growth (%) | 2.78 |
| Regional analysis | North America, Europe, APAC, South America, and MEA |
| Performing market contribution | North America at 58% |
| Key consumer countries | US, Canada, UK, Germany, and France |
| Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
| Key companies profiled | Cavco Industries Inc., CMH Services Inc., Handcrafted Movement, Heirloom Inc., Humble Hand Craft, Oregon Cottage Co., Skyline Champion Corp., Tiny Home Builders, Tiny SMART House Inc., and Tumbleweed Tiny House Co. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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