New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Single-Family Housing Construction (Individual Houses) Global Market Report 2023" - https://www.reportlinker.com/p06464074/?utm_source=GNW
, Ltd., Larsen & Toubro Limited, Algeco Scotsman Inc., Skyline Champion Corporation, Kirby Building Systems LLC, Butler Manufacturing, and Astron Buildings.
The global single-family housing construction (individual houses) market is expected to grow from $747.34 billion in 2022 to $797.20 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The single-family housing construction (individual houses) market is expected to reach $981.26 billion in 2027 at a CAGR of 5.3%.
The single-family housing construction (individual houses) market includes revenues earned by entities by providing services such as plumbing and wiring, installation of doors, windows and finishing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
Asia-Pacific was the largest region in the single-family housing construction (individual houses) market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in single-family housing construction (individual houses) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of single-family housing construction (individual houses) are permanent are relocatable.Permanent structures refer to construction that is intended for longer use, and they are typically constructed with wood, steel, and concrete, which lasts for a longer time.
The materials used are steel, wood, concrete, and others for the construction of various applications including residential, commercial, and industrial.
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.
Technological advancements are a key trend gaining popularity in the single-family home construction (individual houses) market.Major companies operating in the single-family home construction (individual houses) market are developing using advanced technologies such as modular construction, AI, digital twins, blockchain technology, virtual and augmented reality, 4D simulations, and 3D printing to simplify construction in terms of time and cost.
For instance, in January 2023, The Department of Science and Innovation (DSI), a South African government department responsible for scientific research, including space programs, along with the University of Johannesburg (UJ), a South Africa-based university, launched South Africa’s first printed building using a 3D concrete printer. 3D concrete printing is a construction method by which the printer’s path is pre-programmed and prints layer by layer and use computer-controlled robots to print 3D structures for houses and other infrastructure.
In January 2020, GS Engineering & Construction a South Korea-based EPC contractor, acquired Danwood S.A. for a deal value of $160 million. This acquisition helps to develop modular construction technologies from the United States and Europe in Asia and Oceania. Danwood S.A. is a Poland-based manufacturer of modern prefabricated houses operating in five European countries.
The countries covered in the single-family housing construction (individual houses) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The single-family housing construction (individual houses) market research report is one of a series of new reports that provides single-family housing construction (individual houses) market statistics, including single-family housing construction (individual houses) industry global market size, regional shares, competitors with a single-family housing construction (individual houses) market share, detailed single-family housing construction (individual houses) market segments, market trends, and opportunities, and any further data you may need to thrive in the single-family housing construction (individual houses) industry. This single-family housing construction (individual houses) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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