Foldable Houses Market Research, 2031
The global foldable houses market size was valued at $7.1 billion in 2021, and is projected to reach $16.8 billion by 2031, growing at a CAGR of 9% from 2022 to 2031. A foldable house is a portable house that is constructed at an offsite facility in such a way that the entire house is folded into a small unit, which then is transported to the job site and unfolded at its precise location. A foldable house is typically manufactured using steel and aluminum for structural purposes, and wood & metal sheets for walls, roofs, and floors. Typically, these houses are equipped with all the basic necessities such as lighting, plumbing, and insulation.
The concept of foldable houses is relatively new; however, owing to the various advantages of foldable houses over the conventional methods of construction, the mainstream construction sector is adopting it at a greater pace. The issues with traditional construction methods such as slow rate of construction, expensiveness, lower design flexibility, and many negative impacts on the earth’s environment are properly addressed with the foldable houses. Foldable houses are manufactured in a controlled environment at an offsite manufacturing facility where it is easier to maintain the highest standards of quality.
Transportation and erection of the modular structure are the primary challenges pertaining to the modular houses industry; however, this issue is resolved by the compact size of a folded house. When folded, it takes up less than half of the space as that of any ordinary modular-type home. And also, the erection of a foldable house is relatively simpler and quicker, as all the necessary elements such as walls, floors, and roofs are already fixed to their places with a hinge joint, which can be unfolded with minimal effort. Such advantages of foldable houses over the traditional construction method, and over conventional modular homes are driving its demand.
By Construction Type
Single Section segment is projected to grow at a highest CAGR
On the basis of construction type, the market is categorized into single section and multi section. Out of these, the multi section segment accounted for the highest market share in 2021, owing to its ability to house a greater number of people.
Foldable houses are considered one of the suitable options for constructing shelters for homeless people and for people affected by natural calamities such as floods, earthquakes, and others. This is largely attributed to the affordability and quick construction of foldable houses; thereby, driving its demand.
Major foldable house manufacturers such as Guangzhou Moneybox Steel Structure Engineering Co., Ltd, Karmod Prefabricated Technologies, Weizhengheng Modular House, and Brette Haus, along with others offer a wide variety of foldable houses to consumers. Moreover, various development strategies are adopted by the foldable house manufacturers in order to sustain harsh competition in the market. For instance, in November 2021, Boxable, a U.S. based foldable house manufacturer opened a new factory in North Las Vegas NV. It is a 170,000 sq ft building that is projected to be capable of putting out one house every 90 minutes.
By Architecture Type
Flat Roof segment holds dominant position in 2021
On the basis of architecture type, the market is segmented into slope roof and flat roof. Out of these, the flat roof segment registered the highest revenue in 2021, owing to its easy manufacturing and deployment.
The novel coronavirus had rapidly spread across various countries and regions, causing an enormous impact on the lives of people and the overall community. It began as a human health condition and later became a significant threat to global trade, economy, and finance. The COVID-19 pandemic had halted the production of foldable houses due to the lockdown. The economic slowdown initially resulted in reduced spending on various applications of foldable houses by residential and commercial users. However, owing to the introduction of various vaccines, the severity of the COVID-19 pandemic has significantly reduced. As of mid-2022, the number of COVID-19 cases has diminished significantly. This has led to the reopening of foldable house manufacturing companies at their full-scale capacities. Furthermore, it has been more than two years since the outbreak of this pandemic, and many companies have already shown notable signs of recovery.
Furthermore, the foldable houses market is witnessing various developments. The publicity caused by the event of billionaire Elon Musk buying a foldable house has spurred growth in the market, similar developments are estimated to provide lucrative opportunities to the foldable houses market growth.
The foldable houses market is segmented into Construction Type, Architecture type and End user. On the basis of construction type, the market is categorized into single section and multi section. On the basis of architecture type, the market is segmented slope roof and flat roof. And, on the basis of end user, it is bifurcated into single family and multi family.
North America holds a dominant position in 2021 and Asia-Pacific is expected to grow at a significant rate during the forecast period.
On the basis of region, the foldable houses market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2021, followed by Europe and LAMEA. Moreover, Asia-Pacific is also anticipated to grow at a higher CAGR during the forecast period. This is attributed to rapid increase in population and increasing modular housing projects.
Key companies profiled in the foldable houses market report include A-FOLD Houses, Boxabl, Brette Haus, Guangzhou Moneybox Steel Structure Engineering Co.,Ltd, Karmod Prefabricated Technologies, Henan K-Home Steel Structure Co., Ltd., MADI Homes, Rohe Homes, Spark Business Group Pty Ltd. and Weizhengheng Modular House.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging foldable houses market trends and dynamics.
In-depth foldable houses market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
Extensive analysis of the foldable houses market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailingfoldable houses market opportunities.
The global foldable houses market forecast analysis from 2022 to 2031 is included in the report.
The key players within foldable houses market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the foldable houses industry.
Foldable Houses Market Report Highlights
Market Size By 2031
USD 16.8 billion
CAGR of 9%
2021 - 2031
By Construction Type
By Architecture type
By End user
Key Market Players
Spark Business Group Pty Ltd., Rohe Homes Ltd., A-FOLD Houses, Brette Haus, Karmod Prefabricated Technologies, Hebei Weizhengheng Modular House Technology Co., Ltd., Guangzhou Moneybox Steel Structure Engineering Co.,Ltd, Henan K-Home Steel Structure Co., Ltd., Boxabl Inc., MADI Homes
The foldable houses market has witnessed significant growth in the past few years, owing to a surge in global population and urbanization. The rising population and inflation are the major factors leading to increasing poverty and homelessness. Since foldable houses are cheap and easy to deploy, they are largely used for building shelters for homeless people, leading to a growth in the market.
Foldable house is a relatively newer concept and is still in the introductory phase. Various countries in Europe, in North America, and Japan, China and South Korea in Asia-Pacific are known to adopt new technology relatively quicker than the countries in rest of the world. Therefore, the foldable houses market is witnessing a significant growth in these regions. In addition, the sustainability of the foldable houses is also a major factor driving demand for foldable houses.
Moreover, various developments in the foldable houses market such as publicity by billionaire Elon Musk, and rapidly increasing acceptance of the prefabricated housing industry are expected to provide lucrative opportunities for the growth of the foldable houses market.