Analysts: Manufactured Housing to Begin Recovery

A new report by Global Industry Analysts indicates the global prefabricated housing market had registered a moderate to flat growth during the period 2004 to 2007. The market witnessed a further blow in 2008 and 2009 due to the economic recession. However, the market is on the verge of recovery with demand gaining momentum, although at a slower pace. The report also says overproduction, significant losses in the industry and poor underwriting resulted in a decline in the shipments of manufactured homes over the past few years. Further, the comparatively low resale value associated with this type of homes was also a matter of concern. Recession further affected the manufactured housing segment. Nevertheless, with increasing efforts towards the improvement in quality, durability, and cost efficiency of manufactured homes, demand for these types of homes is likely to go up in the coming years. Recovery in demand could be attributed to factors such as growing adaptability of manufacturers to consumers needs in terms of cost efficiency, eco-friendliness, energy efficiency and customization. In addition, increasing awareness among customers about prefabricated houses is also likely to drive further market growth. The analysts say the U.S. represents the largest regional market for prefabricated housing worldwide, as stated by the new market research report on Prefabricated Housing. Japan remains the second largest market for pre-fabricated housing worldwide. However, future growth in the market is expected to emanate from emerging markets such as Asia-Pacific and Latin America. Segment-wise, manufactured homes represent the largest segment, while panelized homes constitute the fastest growing segment. The report provides annual sales estimates and projections for prefabricated housing market for the years 2007 through 2015 for the following geographic markets: US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America.
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