India Manufactured Homes Market Size (2024 - 2029)

The India manufactured homes market is experiencing growth due to increasing housing costs and supply chain challenges exacerbated by the Covid-19 pandemic, which have made affordable homeownership more difficult. This has led to a rising interest in manufactured homes as a viable alternative. Despite the nascent stage of prefab homes in India, driven by misconceptions, the demand is gradually increasing due to the advantages of reduced construction time and environmental benefits. The market is also seeing a trend towards mobile houses, particularly in urban areas like Hyderabad, where they are gaining popularity for recreational use. As awareness and acceptance of manufactured homes grow, they are expected to become a more prominent option for affordable and efficient housing solutions in India.

Market Size of India Manufactured Homes Industry

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India Manufactured Homes Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 3.93 %
Market Concentration Low

Major Players

India Manufactured Homes Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Manufactured Homes Market Analysis

India manufactured homes market is USD 3.52 billion in the current year and estimated to register a CAGR of over 6.2% during the forecast period.

  • Supply chain issues related to the Covid-19 pandemic have made it difficult to buy a home at affordable prices. Thus, more people may start turning to manufactured homes to achieve the dream of homeownership. As housing costs increase due to lumber price spikes and concrete shortages, many homeowners may favor manufactured homes, leading to market growth.
  • Owing to the lengthy construction time for conventional brick-and-mortar structures and growing awareness about environmental concerns, many people nowadays prefer building prefab homes over traditional houses. However, in India, prefab homes are still at a very nascent stage. People are skeptical about prefab homes, mainly because there is a lot of misinformation about how these homes are built and their benefits. Still, prefab homes are slowly growing in the Indian construction space.
  • The demand for prefabs has increased in the last few years due to reasons like hassles in civil construction, timis took in concrete buildings, no time for supervision, and the adoption of new and better technologies. The response is really good for high-end farmhouses and cottages for resorts and hotels, but it will still take time for the people of India to accept prefab as their main home for living permanently.
  • A few builders are coming up with mobile houses which can be ideally placed at guesthouses, farmhouses, es and near agriculture fields for the people to enjoy their weekends with friends and relatives. The concept of mobile houses was popular in European countries where people call them tiny houses. A trend is emerging in Hyderabad, India for such houses. According to Mobile House, a real estate firm in Hyderabad, these kinds of shelters can be built in a space starting from 300 to 1,000 sqft depending on the availability of land.
  • According to the firm, there is a good demand for mobile houses in Hyderabad and it has already sold 200 units, which can be seen near Shankarpally and Yadagirigutta. Since prefab structures fall under the 'temporary construction' category, the rules around them in India are few and scattered. The permissions change in each Indian state and one rule can and is applied to such homes. As more people in the country become aware of this concept, it is estimated that the manufactured home trend picks up and becomes a viable solution for those looking to build a sturdy home in a limited time and budget.

India Manufactured Homes Industry Segmentation

The manufactured homes, sometimes also called mobile homes, are constructed offsite, and once the entire structure is completed, the final product is transported to the desired location. The offsite works also include plumbing works, electrical works, installing the air conditioners, wiring, etc. India manufactured homes market is segmented by Type (Single Family, and Multi-Family). The report offers market size and forecasts for the India Manufactured Homes Market in value (USD billion) for all the above segments.

By Type
Single Family
Multi Family
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India Manufactured Homes Market Size Summary

The India manufactured homes market is experiencing a notable shift as rising housing costs and supply chain challenges from the Covid-19 pandemic drive consumers towards more affordable housing solutions. Manufactured homes, which are mass-produced and assembled on-site, offer a cost-effective alternative to traditional brick-and-mortar constructions, appealing to those seeking homeownership without the financial burden of escalating construction costs. Despite being in the early stages of adoption in India, the market for prefab homes is gradually expanding as awareness grows about their benefits, such as reduced construction time and environmental impact. The trend is particularly gaining traction in urban areas like Hyderabad, where mobile houses, akin to tiny houses in Europe, are becoming popular for weekend getaways and temporary living solutions.

The market landscape is characterized by a fragmented structure with several players, including Epack Prefab, Shadecrafts India, and others, contributing to the competitive environment. These companies are leveraging advancements in technology and sustainable practices to enhance their offerings. The environmental benefits of manufactured homes, such as reduced waste and energy efficiency, align with India's goals to decrease carbon emissions and improve sustainability in the construction sector. Partnerships, like the one between Housejoy and Tata Steel Nest-In, are fostering innovation in modular housing solutions, further propelling the market's growth. As the demand for affordable and eco-friendly housing solutions continues to rise, manufactured homes are poised to become a more viable option for Indian consumers.

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India Manufactured Homes Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Current Market Scenario

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

      2. 1.2.2 Market Restraints

      3. 1.2.3 Market Opportunities

    3. 1.3 Value Chain / Supply Chain Analysis

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Government Regulations

    6. 1.6 Technological Developments

    7. 1.7 Cost Structure Analysis

    8. 1.8 Impact of COVID-19

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Single Family

      2. 2.1.2 Multi Family

India Manufactured Homes Market Size FAQs

The India Manufactured Homes Market is projected to register a CAGR of greater than 3.93% during the forecast period (2024-2029)

Shadecrafts India , Magic Structures, Windoors International Ltd., Karmod Prefabricated Technologies and Epack Prefab are the major companies operating in the India Manufactured Homes Market.

India Manufactured Homes Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)