Market Size of Japan Manufactured Homes Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Manufactured Homes Market Analysis
The size of Japan manufactured homes market is USD 4.3 billion in the current year and is anticipated to register a CAGR of over 4% during the forecast period.
- COVID-19 slightly impacted the manufactured homes market in Japan. Due to COVID-19 restrictions, many construction projects were delayed or canceled. In addition, the pandemic disrupted all manufacturing supply chains, but that did not last long. Moreover, the pandemic resulted in a labor and building materials shortage, leading to increased construction costs by 5% to 10%. After easing restrictions, the construction of manufactured homes witnessed significant growth.
- Moreover, Japan's manufactured housing industry is leading in terms of innovation, with efficient production processes, targeted marketing strategies and consumer outreach, and high-quality designs that offer variability and flexibility at affordable prices. In addition, manufactured home developers provide a fully computerized system to their clients to offer customized homes with standardized components.
- Meanwhile, the Japanese prefer factory-manufactured houses when compared to conventionally built ones. However, Japan's population is declining and is expected to decrease by nearly 40 million by 2065. In addition, the country also has an aging population, with more than one-third of people in Japan will be over the age of 65 in the coming years. These factors are causing an above-average number of homes to be vacant. Furthermore, the low life cycle of Japanese homes is driving the manufactured homes industry in the country.
