LONDON--(BUSINESS WIRE)--The global tiny homes market size is poised to grow by USD 5.80 billion during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Tiny homes are the most affordable housing systems and are preferred by millennials. The high cost of conventional homes is influencing the popularity of tiny homes among consumers. Moreover, the rising cost of living, coupled with spurring interest on home loans, has prompted consumers to opt for affordable housing. With the growing competition and customer demand for innovative products, vendors are increasingly focusing on improving their research and development operations. Millennials and baby boomers account for the significant share of the population who prefer homes that are energy-efficient and have a low maintenance cost. The growing customer expenditure on cost-efficient homes will subsequently influence the growth of the global tiny homes market during the forecast period.
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- The major tiny homes market growth came from mobile tiny homes segment. The demand for mobile tiny homes, which are cost-effective, is increasing because of the high real estate investment in conventional homes. The demand is mostly among the youth who cannot afford an expensive conventional property and among the retired individuals who are looking to optimize savings. Additionally, the continuous growth in tourism activities, for camping and caravans, is driving investments in mobile tiny homes. However, the market growth by the mobile tiny homes segment will be slower than the growth of the market in stationary tiny homes segment.
- North America accounted for the largest tiny homes market share in 2019, and the region will continue to offer the maximum growth opportunities to market vendors during the forecast period. The increase in housing prices and consumer interest in investing in pre-built or custom-built homes will influence the growth of tiny homes market size. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America.
- The global tiny homes market is fragmented. Cavco Industries Inc., CMH Services Inc., Handcrafted Movement, HUMBLE HAND CRAFT, Oregon Cottage Co., Skyline Champion Corp., Tiny Heirloom, Tiny Home Builders, Tiny SMART House Inc., and Tumbleweed Tiny House Co. are some of the major market participants. To help clients improve their market position, these tiny homes market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global tiny homes market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/tiny-homes-market-industry-analysis
Growing Popularity of Environmentally efficient Homes will be a Key Market Trend
The growing popularity of environmentally-efficient homes will significantly influence the market landscape. Tiny homes manufacturers are mainly focusing on building homes that reduce the environmental impact of owners. Tiny homes are highly energy-efficient, and most of these homes are solar-powered. These homes require a significantly smaller number of electronic components and fixtures than conventional homes. Manufacturers also spray a clear coating of metallic oxide on the windows to control the temperature of these homes. With the increasing preference for environmentally-efficient homes, one of the critical tiny homes market trends, the popularity of tiny homes will increase further.
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Tiny Homes Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist tiny homes market growth during the next five years
- Estimation of the tiny homes market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the tiny homes market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of tiny homes market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market Outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Mobile tiny homes - Market size and forecast 2019-2024
- Stationary tiny homes - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing trend of customization
- Introduction of 3D printed tiny homes
- Environmentally efficient tiny homes
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Cavco Industries Inc.
- CMH Services Inc.
- Handcrafted Movement
- HUMBLE HAND CRAFT
- Oregon Cottage Co.
- Skyline Champion Corp.
- Tiny Heirloom
- Tiny Home Builders
- Tiny SMART House Inc.
- Tumbleweed Tiny House Co.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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