LONDON--(BUSINESS WIRE)--The global tiny homes market is expected to post a CAGR of close to 7% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Vendors in the tiny homes market are focusing on product innovation, which in turn, is leading to portfolio extension and product premiumization. They are focusing on differentiating themselves from their competitors by offering tiny homes with different features. Consumers usually opt for tiny homes that are mobile and are equipped with advanced features. Vendors are offering signature series tiny homes that are equipped with amenities such as washer/dryer combo, flat screen TV, and quartz countertops. Furthermore, factors such as the rise in the cost of living, coupled with the high interest on home loans, have prompted consumers to opt for affordable housing. These consumers prefer to invest in homes that are energy-efficient and have low maintenance cost. Thus, growing customer expenditure on cost-efficient homes and rising product premiumization will drive the market growth during the forecast period.
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As per Technavio, environmentally efficient tiny homes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Tiny Homes Market: Environmentally Efficient Tiny Homes
Increasing popularity of environmentally efficient tiny homes will drive market growth during the forecast period. Tiny home manufacturers are focusing mainly on building homes that significantly reduce the environmental impact of the owners. Tiny homes are highly energy-efficient compared to conventional homes as they require significantly smaller number of electronic equipment and electrical fixtures resulting in comparatively lower energy consumption. In addition, many tiny homes are solar powered, resulting in the reduction of energy costs in the long run. Furthermore, the application of low-emission coating to windows also helps in minimizing heat loss. Most tiny home manufacturers and owners opt to spray a clear coating of metallic oxide on the windows to control the temperature of these homes. The metallic oxide spray helps in keeping the heat outside homes in the summer and inside the homes in the winter, thus reducing the carbon footprint. Thus, growing awareness of the advantages offered by environmentally efficient tiny homes will drive market growth during the forecast period.
“Increasing demand for recreational activities, growing trend of customization, and rising introduction of 3D printed tiny homes will boost the tiny homes market growth during the forecast period,” says a senior analyst at Technavio.
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Global Tiny Homes Market: Segmentation Analysis
This market report segments the global tiny homes market by product (mobile tiny homes and stationary tiny homes) and geography (APAC, Europe, MEA, North America, and South America)
North America led the tiny homes market share in 2019, followed by Europe, APAC, South America, and MEA respectively owing to the factors such as the rise in housing prices and consumer interest in investing in the pre-built or custom-built homes. Furthermore, the presence of leading vendors in the US market, offering tiny homes of various types in terms of size, design, texture, and color is expected to contribute to the growth of the tiny homes market in North America.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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