Latin America Manufactured Homes Market Size

Latin America Manufactured Homes Market Analysis

The size of Latin America Manufactured Homes Market is USD 3.4 billion in the current year and is anticipated to register a CAGR of over 6% during the forecast period.

• The outbreak of COVID-19 has severely impacted the manufacturing, and construction industries, which resulted in lower product sales in the year 2020. Latin American manufactured homes market players struggled to gain profits by selling their products worldwide.
• Further, the shutdown of various plants and factories has affected the global supply chains, negatively impacted manufacturing, and delivery schedules, and declined sales for specific periods. However, at the beginning of 2021 market normalized the sale volume with an increase in construction and manufacturing activities.
• The rising demand for energy efficiency, safe, affordable, quality, appreciation in value, and warranty of overall construction is expected to augment the demand for the manufactured homes market in the post-pandemic era.
• One of the best parts of shopping for manufactured homes is the ability to customize the design. Some brands allow shoppers to customize their floor plans, which lets customers tailor the manufactured home to their needs. Some manufacturers may offer features like coffered ceilings, fireplaces, granite countertops, coffee bars, and fixtures which increase the number for manufactured homes demand.
• The growing price of raw materials and commodities, which results in the high construction cost of buildings is influencing the demand for the manufactured home market across Latin America. Moreover, the manufactured homes are affordable, safe, durable, and environmentally conscious with a host of design options that allow for individuality on a smaller, more budget-friendly scale.
• However, low perceived resale value and low awareness may hamper the development of the manufactured homes market.