Middle East and Africa Tiny Homes Market, By Product Type (Mobile Tiny Homes and Stationary Tiny Homes), Area (Less Than 130 Sq. Ft., 130-500 Sq. Ft., and More Than 500 Sq. Ft.), Application (Household, Commercial, Industrial, and Others), Distribution Channel (Direct Sales and Distributors) Industry Trends and Forecast to 2029.
Middle East and Africa Tiny Homes Market Analysis and Size
Increasing use of tiny homes in tourism activities is an important driver for the Middle East and Africa Tiny homes market. The rising inflation leading to a rise in living costs and the increasing popularity of affordable housing solutions and the tiny-house movement is expected to propel the growth of the Middle East and Africa tiny homes market.
Data Bridge Market Research analyses that the tiny homes market is expected to reach a value of USD 188.24 million by the year 2029, at a CAGR of 3.7% during the forecast period. "Household" accounts for the most prominent application segment in the respective market owing to the rise in tiny homes. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2019 - 2014)
|
|
Quantitative Units
|
Revenue in USD Million
|
|
Segments Covered
|
By Product Type (Mobile Tiny Homes and Stationary Tiny Homes), Area (Less Than 130 Sq. Ft., 130-500 Sq. Ft., and More Than 500 Sq. Ft.), Application (Household, Commercial, Industrial, and Others), Distribution Channel (Direct Sales and Distributors).
|
|
Countries Covered
|
South Africa, Saudi Arabia, Egypt, Israel, United Arab Emirates, and the Rest of the Middle East and Africa.
|
Market Definition
A tiny home generally refers to a single dwelling unit of less than 400 square feet in area, built on a permanent or movable foundation. It offers consumers and their local communities several significant advantages, such as lower purchase price, lower construction material waste, reduced carbon footprint, and significantly reduced energy consumption.
Tiny homes have evolved over the recent decades and come in many styles and designs, appealing to people from all walks of life, retirees, starter home-seeking couples, and minimalist young people, among others. Tiny homes offer a wide range of quality, affordable, and environmentally friendly housing that can be used to meet personal dreams, financial and lifestyle goals, and community needs.
Market Dynamics of the Middle East and Africa Tiny Homes Market
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers/Opportunities
- Increasing usage of tiny homes in tourism activities
Tiny homes do not require permits in many parts of the world as they are considered vehicles. Many families have invested in tiny houses and then rented them to people. Some service providers even rent their tiny homes in various architectural and decor styles. These styles depict modern or minimalist to rustic or traditional as a unique alternative to the hotel stay. They equip the tiny homes with a kitchen, living space, bathroom, and sleeping area. Various factors, such as globalization, internet penetration, and growing social media influence, have boosted the demand for tiny homes. Furthermore, new lifestyles, higher disposable incomes, and increasing consumer environmental awareness create demand for tiny homes. This, in turn, is expected to act as a driver for the growth of the Middle East and Africa tiny homes market.
- Rising inflation leads to a rise in living costs
Interest rates on home loans have prompted consumers to seek more affordable housing options. Consumers are also becoming more interested in low-maintenance, energy-efficient, and environmentally friendly homes. The growing interest in and spending on such low-cost, environmentally friendly tiny houses is expected to drive up demand for tiny houses in the coming years. Thus, the Middle East and Africa tiny house market is likely driven by rising living costs and high home loan interest rates.
- Increasing popularity of affordable housing solutions and the tiny-house movement
The tiny homes trend is rising as it is an innovative, affordable housing solution. It requires less space, land, and cost to build and can be maintained with basic amenities. Money is saved on heating, cooling, property taxes, or home maintenance. There is a huge saving on electricity, water, and energy in tiny homes compared to large houses, which require more maintenance costs.
Tiny-house movement, also known as the small-house movement, aims to downsize living spaces, simplify, and essentially "living with less." According to INTERNATIONAL CODE COUNCIL, INC., a tiny house is termed a "dwelling unit with a maximum of 37 square meters (400 sq. ft.) of floor area, excluding lofts." People have made many efforts to increase the tiny house movement.
- Less burden of maintenance as well as environment friendly
The increasing use of clear metallic oxide coating on windows to control the temperature of tiny homes requires a significantly smaller number of electronic components and fixtures than in conventional homes. Due to less area and space, the maintenance cost is less compared to a conventional home. Thus, tiny homes have less maintenance burden and are environment friendly, which is expected to drive the Middle East and Africa tiny homes market.
- Shifting consumer preference toward the environmentally friendly homes
More consumers are also being more proactive in their pursuit of adopting a more sustainable lifestyle, whether by selecting products with ethical or environmentally sustainable practices and values or by no longer purchasing certain products because they have concerns about sustainability practices or values. For most consumers, adopting a more sustainable lifestyle starts at home, recycling, composting or reducing food waste. People are also increasingly choosing the tiny home lifestyle by embracing the philosophy and freedom that comes with downsizing the living space by simplifying and living with less.
Furthermore, factors including rising living costs, increasing environmental consciousness, and rising government initiatives are creating demand in the Middle East and Africa tiny homes market. Furthermore, shifting consumer preference toward environmentally friendly homes may provide opportunities for the growth of the Middle East and Africa tiny homes market.
- Introduction of sustainable 3D printed tiny homes
The use of concrete 3D printing technology, which incorporates digital technology and the application of material technology, helps in creating various shapes and designs. It allows architects to build various shapes, such as curves, spheres, and others, in much less time and cost. 3D printing technology is an upcoming technology in the construction industry. However, there is a need to upgrade the conventional or standard methods for construction with the help of technological advancements. This, in turn, provides new opportunities for the growth of the Middle East and Africa tiny homes market.
Restraints/Challenges
- Low preference towards tiny homes over conventional homes
Tiny houses don't require much land to build compared to conventional homes. But many towns make it difficult to build one. Zoning laws often include a minimum size for dwellings. Such as, in North Carolina, the tiny home must be at least 150 square feet to get a building permit, and 100 square feet must be added for every additional occupant. These zoning regulations can prohibit people from buying land and building their own tiny houses on it. Sometimes to get a loan to build a tiny home is another challenge. Sometimes it is 'impossible to take standard mortgage loans as banks don't consider a tiny house to have enough value to make good collateral.
- Growing number of residential buildings
Consumers who move to their new spaces and renovate older ones stay in residential buildings. Changing lifestyle and increased disposable income motivates consumers to live in buildings and big spaces to maintain their standard and status. Due to this reason, people prefer to stay in residential buildings. Thus, a growing number of residential construction is expected to restrain the Middle East and Africa tiny homes market.
- Unsuitable for large families and issues concerning resale problems
Tiny homeowners often struggle to regulate the temperature in their homes. As a result, water builds up on the windows, walls, and furniture. There is a lack of proper ventilation and cooling systems in tiny homes. Many people who move into tiny homes with the dream of traveling later realize that it is difficult to move home from one place to another. In most cases, a bigger truck is required to be attached, drastically increasing the costs. Also, the belongings need to be tied down so that they do not fall and break while moving.
Moreover, more vulnerability to natural disasters along with limited awareness. Furthermore, the unsuitability of tiny homes for large families and issues concerning the resale of tiny homes may challenge the growth of the Middle East and Africa tiny homes market.
Post-COVID-19 Impact on Middle East and Africa Tiny Homes Market
COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Due to the lockdown, the market has experienced a downfall in sales due to the shutdown of retail outlets and the restrictions on customer access over the past few years.
However, the growth of the market post-pandemic period is attributed to more people working from home and increased disposable income. This has led to an increased demand for a sustainable, eco-friendly, and affordable housing solution. The key market players are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple R&D activities to improve their offerings. They are enhancing its market share by exploring different retail channels and expanding into new regions.
This Middle East and Africa tiny homes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the tiny homes market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In October 2019, Häuslein Pty Ltd launched two new tiny house models - the Little Sojourner and the Grand Sojourner. The products are the smallest and the largest new addition to the family of high-end tiny houses, respectively. The newly launched products will help the company enhance its market presence with high-quality tiny houses.
Middle East and Africa Tiny Homes Market Scope
The Middle East and Africa tiny homes market is segmented on the basis of product type, area, application, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Mobile Tiny Homes
- Stationary Tiny Homes
Based on product type, the Middle East and Africa tiny homes market is segmented into mobile tiny homes and stationary tiny homes.
Area
- Less Than 130 Sq. Ft.
- 130-500 Sq. Ft.
- More Than 500 Sq. Ft.
Based on the area, the Middle East and Africa tiny homes market is segmented into less than 130 sq. ft., 130-500 sq. ft., and more than 500 sq. ft.
Application
- Household
- Commercial
- Industrial
- Others
Based on application, the Middle East and Africa tiny homes market is segmented into household, commercial, industrial, and others.
Distribution Channel
- Direct Sales
- Distributors
Based on distribution channel, the Middle East and Africa tiny homes market is segmented into direct sales and distributors.
Middle East and Africa Tiny Homes Market Regional Analysis/Insights
The Middle East and Africa tiny homes market is analyzed, and market size insights and trends are provided by country, product type, area, application, and distribution channel, as referenced above.
The countries covered in the Middle East and Africa tiny homes market report are South Africa, Saudi Arabia, Egypt, Israel, United Arab Emirates, and the rest of the Middle East and Africa.
In 2022, South Africa is expected to dominate the Middle East and Africa tiny homes market due to rising inflation leading to a rise in living costs.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Tiny Homes Market Share Analysis
The Middle East and Africa tiny homes market competitive landscape provide details by a competitor. Details include company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East and Africa presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Middle East and Africa tiny homes market.
SKU-