According to a new report published by Allied Market Research, titled,"Container Homes Market by Container Type, Offering, Architecture Type, Construction Type, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the container homes market size accounted for $44,768.6 million in 2017, and is expected to reach $73,070.5 million by 2025, growing at a CAGR of 6.5% from 2018 to 2025. In 2017, North America dominated the global container homes market, in terms of revenue, accounting for about 39% share of the global market, followed by Asia-Pacific.
Container homes are prefabricated homes developed using new and old shipping containers used to carry goods on trains, trucks, and ships. The shipping containers can handle heavy loads and can resist in harsh conditions. Moreover, the containers can be structured and stack easily to construct small & multi storey house, owing to their perfect shape. The container homes provide best solution in emergency shelter these containers can be moved easily.
The reduced construction cost, ease of installation and relocation, increase in focus toward adoption of green building concepts, rise in need for protection of architecture from environmental impacts, and need for compact & movable homes in large cities due to lack of space, are major factors that boost the demand for container homes. Furthermore, lack of housing units, increase in focus toward adoption of affordable housing structures, and rise in need for construction in developed companies are expected to provide lucrative growth opportunities to prefabricated container homes manufacturers. However, high risk on corrosion to these homes and short life space are expected to hinder the market growth.
The old container segment secured the highest share of about 78% in the global container homes market in 2017 and is expected to grow at a CAGR of 7.2% during the forecast period. In terms of offering, factory-built container homes are expected to account for the highest market share in the coming years, as it simple to assemble and modify the containers and install them at required location.
North America secured the highest market share in 2017, owing to increase in focus toward the adoption of affordable housing structures and limited availability of space for new construction.
Key Findings of the Container Homes Market:
- In 2017, the old containers segment dominated the global container homes market, in terms of revenue, and is projected to grow at a CAGR of 7.2% during the forecast period.
- The factory-built homes segment is projected to grow at a CAGR of 5.8% during the forecast period.
- Asia-Pacific is projected as one of the most dominant regions in the container homes market and is expected to witness notable growth rate.
The major players, such as Anderco Pte Ltd., Container Homes USA, Giant Containers, HONOMOBO, Royal Wolf., SG Blocks, Inc., Shanghai Haicheng Special Steel Container Co., Ltd., Speed House Group of Companies, Supertech Industries, and Temohousing, focus on strengthening their business capabilities in the market.