LONDON–(BUSINESS WIRE)–Sep 30, 2020–
The global tiny homes market size is poised to grow by USD 5.80 billion during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200930005634/en/
Technavio has announced its latest market research report titled Global Tiny Homes Market 2020-2024 (Graphic: Business Wire).
Tiny homes are the most affordable housing systems and are preferred by millennials. The high cost of conventional homes is influencing the popularity of tiny homes among consumers. Moreover, the rising cost of living, coupled with spurring interest on home loans, has prompted consumers to opt for affordable housing. With the growing competition and customer demand for innovative products, vendors are increasingly focusing on improving their research and development operations. Millennials and baby boomers account for the significant share of the population who prefer homes that are energy-efficient and have a low maintenance cost. The growing customer expenditure on cost-efficient homes will subsequently influence the growth of the global tiny homes market during the forecast period.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
- The major tiny homes market growth came from mobile tiny homes segment. The demand for mobile tiny homes, which are cost-effective, is increasing because of the high real estate investment in conventional homes. The demand is mostly among the youth who cannot afford an expensive conventional property and among the