Prefabricated building market sizeis expected to grow at a CAGR of around 8% during the period 2019−2025.
Key Highlights Offered in the Report:
- Propelled by the growing demand in APAC countries, the global prefabricated building market is expected to register a CAGR of over 8% in terms of revenue during 2019−2025.
- The growing emphasis on the development of hi-tech infrastructure in Europe is likely to generate immense opportunities for vendors operating in this region, accounting for a CAGR over 4% during the forecast period.
- The residential sector offers vast incremental growth opportunities of over $33 million in terms of revenue during the forecast period.
- The commercial end-users segment occupied the largest market share and is expected grow at a CAGR approximately 7% during the forecast period.
- APAC emerged as the largest region occupying over 35% share of the global prefabricated building market in 2019.
- The US accounted the largest share in 2019 and is expected to grow at a CAGR around 4% by 2025.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by application, material, system, and geography
- Competitive Landscape – Profile of 4 key vendors and 22 other vendors
Prefabricated Building Market – Segmentation
- Increasing commercial spaces such as shopping malls, trade centers, and office spaces are expected to drive the prefabricated building market. The high investment by key players in their product portfolio due to the building’s faster construction methodologies are likely to drive the commercial segment.
- Wood-based products such as engineered joists, columns, and wall and floor structures offer increased strength and are lightweight. These wood-based products weigh less, which helps in increasing the simplicity of shipping and recyclability, which is likely to stimulate the demand for prefab wooden houses.
- Skeletal frameworks are primarily used for structures that are relatively low-risk and do not have several partitions. The application of such frameworks is majorly used in large-scale car parking and commercial buildings built with frames.
Market Segmentation by Application
- Commercial Buildings
Market Segmentation by Material
Market Segmentation by System
Prefabricated Building Market – Dynamics
The APAC region dominated the global prefabricated building market in 2018. With the growing number of residential and industrial projects, the demand for prefabricated construction is increasing in the region. Prefabricated constructions are majorly used as they are often completed in 30−50% lesser time than conventional structures, thus significantly reducing the overall time and cost. The infrastructure development of rail and road projects by the Government of China has led to substantial growth in the construction industry in China. The Temburong Bridge connects Bandar Seri Begawan and the Temburong district. The bridge is 12 km long and includes a prefabricated 11.8 km long viaduct. The construction industry is dominated by government and private bodies, which increases spending on prefabricated parts in the country.
Key Drivers and Trends fueling Market Growth:
- Shifting Focus: Profit, People, Planet
- Increasing Demand for Branded Designers
- Expansion of Prefabricated Market
- Space Constraints in Big Cities
Prefabricated Building Market – Geography
In North America, the productivity of several construction projects has slowed down due to a labor shortage. Hence, companies are expected to utilize prefabricated construction to complete the project faster. The use of additive manufacturing made using energy-absorbing materials such as micro homes is likely to bolster the industry growth in the region. Further, fast-paced urbanization in emerging areas of the region and growing investment in the real estate sector are other factors driving growth. The establishment of special economic zones, where new corporate offices are coming up is driving market in North America. Hence, there is a dire need for alternatives to traditional construction techniques. Also, fast-paced urbanization in emerging regions and growing investor interest in the real estate sector worldwide are the other factors driving the construction industry. The Trump government is expected to raise $1.5 trillion by encouraging investments from state and local governments as well as private companies.
Market Segmentation by Geography
- South Korea
- North America
- Saudi Arabia
- South Africa
- Latin America
- Algeco Scotsman
- Bouygues Construction
- Red Sea Housing
Other vendors include – Abtech, Alta-Fab Structures, Art’s Way Manufacturing, Astron, Champion Home Builders, Cimc Modular Building Systems Holding, Clayton Homes Inc., DuBox, Fleetwood Australia, Guerdon Modular Buildings, Hickory Group, Horizon North Logistics, Katerra, Kirby Building Systems, Kleusberg GmbH & Co KG, KOMA Modular, Laing O’Rourke, Lendlease Corporation, Lindal Cedar Homes, Modern Prefab, Modular Engineering, Niko Prefab Building Systems Pvt. Ltd..
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