Foldable Houses Market to Reach $16.8 Billion, Globally, by 2031 at 9.0% CAGR: Allied Market Research

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Jan 12, 2023, 07:56 ET

Various advantages of foldable houses over the conventional methods of construction drive the growth of the global foldable houses market.

PORTLAND, Ore., Jan. 12, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Foldable Houses Market by Construction Type (Single Section, Multi-Section), by Architecture type (Slope roof, Flat Roof), by End user (Single Family, Multi Family): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global foldable houses industry generated $7.1 billion in 2021, and is anticipated to generate $16.8 billion by 2031, witnessing a CAGR of 9.0% from 2022 to 2031.

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Prime determinants of growth

Various advantages of foldable houses over the conventional methods of construction drive the growth of the global foldable houses market. However, transportation and erection of the modular structure are the primary challenges, which restricts the market growth. Moreover, foldable houses are considered as one of the suitable options for constructing shelters for homeless people and for those affected by natural calamities such as floods, earthquakes, and others, which presents new opportunities for the market growth in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic had a negative impact on the global foldable houses market, owing to the lockdown measure in countries worldwide and delays in the production and manufacturing of foldable houses which are utilized in residential and commercial spaces.
However, ease in restrictions helped the industry to recover from the loss in 2022.

The multi-section segment to maintain its leadership status throughout the forecast period

Based on construction type, the multi-section segment held the highest market share in 2021, accounting for around two-thirds of the global foldable houses market, and is estimated to maintain its leadership status throughout the forecast period. Multi-section foldable house is large and constructed by joining together more than one folded section, thus making it suitable for accommodating a big family. However, the single section segment is projected to manifest the highest CAGR of 9.5% from 2022 to 2031. Single-section foldable houses are small and lightweight; therefore, they are easy to transport using smaller vehicles.

The flat roof segment to maintain its leadership status throughout the forecast period

Based on architecture type, the flat roof segment held the highest market share in 2021, accounting for more than four-fifths of the global foldable houses market, and is estimated to maintain its leadership status throughout the forecast period. Deploying foldable houses with a flat roof are relatively easier than sloped roof foldable houses of comparable size, owing to their simpler designs. However, the slope roof segment is projected to manifest the highest CAGR of 9.6% from 2022 to 2031. Regions experiencing heavy rain and snowfall demand foldable houses with sloped roofs. A sloped roof drains all the rainwater, unlike a flat roof, thereby preventing roof damage from water logging. In addition to this, in a snow-bound region, a slopped roof uniformly distributes the snow accumulating on it and helps the roof maintain its structural integrity and last long. These advantages contribute to the reduction in the cost of maintenance of the house.

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The multi-family segment to maintain its lead position during the forecast period

Based on end user, the multi-family segment accounted for the largest share in 2021, contributing to nearly three-fifths of the global foldable houses market, and is projected to maintain its lead position during the forecast period. The number of people living together with their parents even after marriage has risen in many countries such as the U.S., and the UK. This is largely due to the inability of the young generation to afford to live alone and the risk of old age people getting isolated. However, the single-family segment is expected to portray the largest CAGR of 9.4% from 2022 to 2031. These houses are typically preferred by nuclear families. Countries such as the U.S., Australia, and the UK have a large number of people who leave their houses before the age of 18 and later lead single families.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global foldable houses market, and is likely to dominate the market during the forecast period. An increase in house-related construction activities and growth in housing for single family dwellings are expected to surge the demand for foldable homes in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.5% from 2022 to 2031, owing to its rapidly increasing population.

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Leading Market Players: -

Guangzhou Moneybox Steel Structure Engineering Co.,Ltd,
Karmod Prefabricated Technologies,
Rohe Homes Ltd.,
Spark Business Group Pty Ltd.,
Hebei Weizhengheng Modular House Technology Co., Ltd.,
Brette Haus,
A-FOLD Houses,
MADI Homes,
Boxabl Inc.,
Henan K-Home Steel Structure Co., Ltd.

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