Product ID: SQSG55E2003
Global Off-Grid Housing Market Size, Share, Growth Analysis, By Renewable Energy(Solar, Wind), By House Type(RV, Country Cabin) - Industry Forecast 2024-2031
Report ID:
SQSG55E2003 |
Region:
Global |
Published Date: February, 2024
Pages:
279
|
Tables:
64 |
Figures:
75
Global Off-Grid Housing Market Dynamics
Off-Grid Housing Market Driver
Sustainable Lifestyle
- The number of people adopting a more sustainable way of life is rapidly growing. More customers are taking the initiative to reduce food waste, recycle household waste, buy more seasonal produce vegetables, limit water usage, and consume less meat. All of these factors are expected to shift consumer attitudes toward off-grid living.
- Variety-seeking behaviour is one of the key factors fuelling off-grid living. After COVID, consumers are opting to live amongst nature and far away from populated cities. Hence, less dependency on the usual infrastructure of urban living is supporting the off-grid housing movement. For instance, off-griding allows customers to choose their own land away from cities and build houses by changing the design, shape, and foundation of the home as per the choice.
- Living off-grid eliminates the stress of contemporary life and lets people reconnect with nature. Off-grid settlements are frequently located in the most beautiful and isolated areas on the planet, surrounded by deep forests, natural water sources like waterfalls or lakes, and a plethora of animals. Off-grid housing also frees consumers from regular bills, for instance, no electricity bills, no water bills, and no connections payment every month. Off-grid living allows consumers to do important work every day, which improves happiness and well-being. As a result, cortisol output decreases, which benefits both brain function and immunological modulation, so improving both mental and physical health.
Off-Grid Housing Market Restraint
Lack of Awareness
- The key reasons for not adopting a more sustainable lifestyle are connected to expense, a lack of interest in the problem of sustainability, and a lack of information. Consumers believe that adopting a more sustainable lifestyle makes little impact and that it is too difficult or not available to them. For instance, the foremost challenge in living off-grid is the sacrifice of living on the grid and an easy lifestyle. Life without a nearby store, refrigeration system, AC, television, washing machine, oven, etc. can be difficult.
- Furthermore, 52% of the consumers believe that living a sustainable life is more expensive followed by another 51% of the consumer who believes that they lack interest in the issue of sustainability. Habitual purchase and consumption pattern is another key challenge associated with the unpopularity of off-grid living. Off-grid living is associated with minimalism; however, today’s consumers are driven by materialistic factors such as image, possessions, wealth, and status. Hence, materialism is the key restraint behind the lesser penetration of the off grid living lifestyle.
- Micro restraining factors associated with off-grid living include the survival instincts of consumers such as food and shelter. For instance, Finding a few acres of property, preferably miles away from the grid system, far away from strict building standards and approval procedures, can be difficult at times. Access to safe drinking water is another barrier that restricts consumers' ability to pick a home near a water supply. Also, growing food becomes a necessity as access to grocery shops daily becomes more difficult. It is also necessary to invest a good amount of capital in farm animals, such as chickens for eggs or cows for dairy, as well as a small plot of land for vegetables. Because many of these investments do not pay off immediately, funding is a substantial impediment.
Global Off-Grid Housing Market Report Snapshots
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