Overview and Scope
A single-family housing construction refers to a self-contained residential structure. These homes are intended to be utilized as single-family housing units, with a single owner, no shared walls, and having their own property.
Sizing and Forecast
The single-family housing construction (individual houses) market size has grown strongly in recent years. It will grow from $794.32 billion in 2023 to $838.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to economic growth and consumer confidence, low mortgage rates, population growth and household formation, government housing policies and incentives, real estate market dynamics..
The single-family housing construction (individual houses) market size is expected to see strong growth in the next few years. It will grow to $1056.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to demographic shifts and millennials homeownership, affordability challenges and entry-level housing, interest rate fluctuations, sustainability and energy-efficient construction, urban renewal and redevelopment.. Major trends in the forecast period include wellness-focused design principles, outdoor living spaces, technology-enhanced construction processes, affordable housing solutions, resilient and disaster-resistant construction, customization and personalization..
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Segmentation & Regional Insights
The single-family housing construction (individual houses) market covered in this report is segmented –
1) By Type: Permanent, Relocatable
2) By Material: Steel, Wood, Concrete, Other Materials
3) By Application: Residential, Commercial, Industrial
Asia-Pacific was the largest region in the single-family housing construction (individual houses) market in 2023. Europe is expected to be the fastest-growing region in the single-family housing construction (individual houses) market report during the forecast period. The regions covered in the single-family housing construction (individual houses) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising demand for housing is expected to propel the growth of the single-family housing construction (individual houses) market going forward. Housing demand refers to the type and number of houses that people will choose to occupy depending on their preferences and financial ability. As the housing is an economic investment for households and builders, and provides shelter, offering protection against inclement weather and victimization by street crime, number of single-family housing constructions are increasing. For instance, in February 2023, according to the Census Bureau, a US-based principal agency of the Federal Statistical System, privately-owned housing units authorized by building permits were 1,524,000, a 13.8% above the revised January rate of 1,339,000. Therefore, the rising demand for housing is driving the growth of the single-family housing construction (individual houses) market.
Key Industry Players
Major companies operating in the single-family housing construction (individual houses) market are focusing on innovating products, such as the Backyard range, to provide a competitive edge in the market. Backyard range is factory-produced studio and one-bedroom units designed to be installed in homeowners’ backyards. For instance, in November 2022, Samara, a US-based home services company launched Backyard range. Backyard range has factory-produced studio that is 430-square-foot unit and one-bedroom is 550-square-foot unit. Backyard units are available in different colors, roof designs, and door, window, and deck designs. Backyard units are built using durable, cutting-edge materials and are precision-engineered and assembled in a factory. They are built with solar energy to power themselves, and are easy to install.
The single-family housing construction (individual houses) market report table of contents includes:
1. Executive Summary
2. Single-Family Housing Construction (Individual Houses) Market Characteristics
3. Single-Family Housing Construction (Individual Houses) Market Trends And Strategies
4. Single-Family Housing Construction (Individual Houses) Market – Macro Economic Scenario
5. Global Single-Family Housing Construction (Individual Houses) Market Size and Growth
….
31. Global Single-Family Housing Construction (Individual Houses) Market Competitive Benchmarking
32. Global Single-Family Housing Construction (Individual Houses) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Single-Family Housing Construction (Individual Houses) Market
34. Single-Family Housing Construction (Individual Houses) Market Future Outlook and Potential Analysis
35. Appendix
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