Market Size of ASEAN Manufactured Homes Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
ASEAN Manufactured Homes Market Analysis
ASEAN Manufactured Homes Market is expected to register a CAGR of more than 5% during the forecast period.
- The COVID-19 pandemic has badly affected the ASEAN manufactured homes market mainly due to the halt in international trade, prolonged lockdowns, and ceased construction processes. The COVID-19 pandemic has drastically affected the ASEAN economy. Moreover, it has disrupted the operations of many companies in the manufactured homes market, which has forced the companies to halt their business operations to comply with the safety measures being announced by the governments.
- In addition, disruption in the supply chain due to a halt in operations has significantly impacted the revenue flow of the players in the market. Further, the implementation of measures such as lockdown and social distancing during this pandemic has resulted in a shortage of manpower, which, in turn, has negatively impacted the manufactured homes market revenue.
- Rapid population growth along with rapid urbanization has resulted in the need for affordable housing in ASEAN countries. Manufactured homes offer a revolutionary solution to the problem of affordable and quality accommodation. Manufactured homes cost at least half the price of comparable traditional new homes and take less time to construct, owing to these advantages, the demand for manufactured homes is increasing in the ASEAN market.
- Demand for manufactured homes is on the rise in developing countries such as Thailand, Malaysia, etc., due to the advantages of manufactured homes such as energy efficiency and less carbon footprint in the environment.
- Fluctuations in the prices of steel which is the major raw material for construction affect the profitability of suppliers which is expected to restrain the growth of the ASEAN manufactured homes market during the forecast period. An increase in interest rates for mortgage loans makes buying a house a costly affair. This is also expected to restrain the market growth during the forecast period.
