Study Predicts the Rise of Prefab Globally

Global Industry Analysts, Inc. estimates the global prefabricated housing market will hit 829,000 units by 2017. DigitalJournal tells the U.S. and UK have the majority share of the market, but Australia and New Zealand are the pioneers in the Asian market, although Japan, China, Taiwan and Korea have burgeoning factory-built housing industries. In the U.S. manufactured housing is the most competitive in the prefabricated housing market sector, and accounts for about ten percent of all new single-family homes. The study states the appeal of low housing costs is an attraction for singles, young married couples, and retirees and will translate into growing demand for factory-built homes. The report notes the coming green identity with modular housing in particular: “The segment of modular homes is moving towards a greener identity with several super housing models boasting of low-carbon footprints frequently emerging in the market. The energy-efficient, environment friendly homes are changing the relatively down market image of the prefab housing type, as consumers increasingly place in high esteem industries that aim at reducing wastage and inefficiency.”

(Graphic credit: Wikipedia)

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