North America 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 2030.
North America Tiny Homes Market Analysis and Size
The essential factors contributing to the growth of the tiny homes market in the forecast period of 2023 to 2030 include the usage of tiny homes in tourism activities. Also, the rising inflation leading to a rise in living costs and the increasing popularity of affordable housing solutions, and the tiny-house movement is significantly contributing to the market’s growth.
Data Bridge Market Research analyses that the North America tiny homes market which was USD 2,154.53 million in 2022, would rocket up to USD 2,666.35 million by 2030, and is expected to undergo a CAGR of 2.7% during the forecast period of 2023 to 2030. In 2023, mobile tiny homes segment will dominate the market due to rise in demand of tiny homes for various packaging applications. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, 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 consumer behaviour.
North America Tiny Homes Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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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)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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Skyline Champion Corporation (U.S.), Nestron (Singapore), TIMBERCARAFT TINY HOMES (U.S.), CargoHome (U.S.), Oregon Cottage Company (U.S.), Tiny Home Builders (U.S.), Tiny SMART House, Inc. (U.S.), Tumbleweed Tiny House Company (U.S.), New Frontier Tiny Homes (U.S.), Mustard Seed Tiny Homes LLC (U.S.), MAVERICK TINY HOMES, LLC (U.S.), California Tiny House (U.S.), Tiny Idahomes (U.S.), American Tiny House (U.S.), Tiny Heirloom (U.S.), among others.
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Market Opportunities
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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.
North America Tiny Homes Market Dynamics
Drivers
- 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 North America tiny homes market.
- The 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 North America tiny house market is likely driven by rising living costs and high home loan interest rates.
Opportunities
- 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
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 North America tiny homes market
Recent Developments
- In July 2021, Singapore-based Nestron designed the Cube Two prefab to comfortably accommodate a family of four—and the resulting dwelling is as futuristic as it is practical. Wrapped in galvanized steel that can withstand extreme heat and natural disasters, the 279-square-foot home—which features curved edges, built-in furnishings and voice-controlled tech—can be shipped anywhere in the world, and it’s designed to arrive move-in ready
- 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
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
North America Tiny Homes Market Scope
The North America tiny homes market is segmented on the basis of product type, area, application, and distribution channel. The growth amongst these segments will help you analyse meagre 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
Area
- Less Than 130 Sq. Ft.
- 130-500 Sq. Ft.
- More Than 500 Sq. Ft.
Application
- Household
- Commercial
- Industrial
- Others
Distribution Channel
- Direct Sales
- Distributors
North America Tiny Homes Market Regional Analysis/Insights
North America tiny homes market is analysed and market size insights and trends are provided by product type, area, application, and distribution channel as referenced above.
The countries covered in the North America Tiny Homes market report are U.S., Canada and Mexico
U.S. dominates the tiny homes market due to the rise in living costs. Consumers are also becoming more interested in low-maintenance, energy-efficient, and environmentally friendly homes, and it is also driving the tiny homes market.
Canada is expected to grow during the forecast period of 2023 to 2030 because of the rising popularity of affordable housing solutions and the tiny-house movement. It requires less space, land, and cost to build and can be maintained with basic amenities, hence contributing in the market growth.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Tiny Homes Market Share Analysis
The tiny homes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to North America tiny homes market.
Some of the major players operating in the North America tiny homes market are:
- Skyline Champion Corporation (U.S.)
- Nestron (Singapore)
- TIMBERCARAFT TINY HOMES (U.S.)
- CargoHome (U.S.)
- Oregon Cottage Company (U.S.)
- Tiny Home Builders (U.S.)
- Tiny SMART House, Inc. (U.S.)
- Tumbleweed Tiny House Company (U.S.)
- New Frontier Tiny Homes (U.S.)
- Mustard Seed Tiny Homes LLC (U.S.)
- MAVERICK TINY HOMES, LLC (U.S.)
- California Tiny House (U.S.)
- Tiny Idahomes (U.S.)
- American Tiny House (U.S.)
- Tiny Heirloom (U.S.),
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