Prefabricated Buildings Industry Trends & Opportunities, 2023-2028: Addressing Urban Space Constraints and Capitalizing on High Profit Potential - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Prefabricated Buildings Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global prefabricated buildings market is expected to experience significant growth, with a projected Compound Annual Growth Rate (CAGR) of 7.84% from 2022 to 2028. Several market trends and drivers are contributing to the expansion of this market.

Key Market Trends and Drivers

1. Expansion of Mass Township Projects: Governments in various countries are focusing on providing inexpensive housing to address the demand for affordable living spaces. In countries like India, where the government aims to provide housing for all by 2022, prefabricated materials are being used for faster and high-quality construction. This presents significant opportunities for vendors in the prefabricated materials industry.

2. Space Constraints in Big Cities: Urban areas worldwide are facing space constraints, leading to an increased demand for innovative and space-efficient solutions. Prefabricated buildings offer a feasible option, as they utilize cost-effective materials and save space compared to traditional construction methods.

Market Segmentation

The global prefabricated buildings market is segmented based on various factors:

• Material: Steel, Concrete & Cement, Wood, and Other Materials.
• System: Cellular System, Panel System, Skeleton System, Combined System, and Other Systems.
• End-user: Non-Residential (Commercial Building, Hospitality, Government, Education, Other Non-Residential) and Residential.

Dominant Material and System Types

• Material: Steel dominates the global prefabricated buildings market, accounting for over 33% share. Steel is widely used due to its proven strength and durability, making it suitable for constructing building frames and systems.

• System: Cellular systems are expected to experience increased application, driving market growth. Panel systems are also in demand due to their accelerated construction time, thermal efficiency, and cost savings.

End-User Segmentation

• Non-Residential: The non-residential segment dominates the prefabricated buildings market. Rising commercial spaces like shopping malls, trade centers, and office spaces are driving the growth of this segment.

• Residential: The residential segment is expected to grow due to the increasing population and demand for housing facilities. Prefabricated buildings offer a quick and cost-effective solution for residential construction.

Geographical Analysis

• APAC: The Asia-Pacific (APAC) region dominates the global prefabricated buildings market, driven by factors like a labor shortage and the adoption of prefabricated construction to expedite projects. The use of technologies like additive manufacturing is expected to drive industry growth in the region.

• Europe: In Europe, the market is projected to grow moderately, with consumers opting for ready-made solutions that align with their preferences.

Competitive Landscape

The global prefabricated buildings market is fragmented, with local and international players competing for market share. Vendors are focusing on innovation, technological advancements, and mergers and acquisitions to establish a strong presence. The competition is intense, driven by offerings and pricing, and is expected to intensify further.

Key Company Profiles

• Algeco
• Scotsman
• Alho Systembau
• ATCO
• Bouygues Batiment International
• Red Sea Hous

Other Prominent Vendors

• ABTECH
• Alta-Fab Structures
• Art's Way Manufacturing
• Astron Buildings
• Berkeley Group
• Ceramic Houses
• Champion Home Builders
• CIMC Group
• Clayton Homes Inc.
• Danish Modular System
• DFH Group
• Fertighaus Weiss
• Fleetwood Australia
• Guerdon Enterprises
• Hickory Group
• Horizon North Logistics
• HUF HAUS
• Ilke Homes
• Katerra
• Kleusberg
• Laing O'Rourke
• Lendlesase Corporation
• Modulaire Group
• Moelven
• REM
• Segexha Group
• Skanska Group
• Vitahus

In summary, the global prefabricated buildings market is poised for growth due to factors like the expansion of mass township projects, space constraints in urban areas, and increased demand for innovative and cost-effective construction solutions. The dominance of steel materials, the emergence of cellular and panel systems, and the growth of non-residential and residential segments are shaping the market's trajectory.

Market Dynamics Recap

• Opportunities & Trends
  • Rising Demand for Turnkey Solutions
  • Space Constraints in Big Cities
  • High Profitability Associated With Prefabricated Building Systems
• Growth Enablers
  • Expansion of Mass Township Projects
  • Surge in Demand for High-End & Customized Buildings
  • Rising Construction Opportunities in Developing Countries
• Restraints
  • High Initial Costs Associated With Installation of Prefabricated Structures
  • Complications Associated With Supply Chain Management
  • Political and Economic Uncertainties

Key Topics Covered

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats

6 Premium Insights

7 Market at a Glance

8 Introduction

9 Market Opportunities & Trends

10 Market Growth Enablers

11 Market Restraints

12 Market Landscape

13 Material

14 System

15 End-user

16 Geography

17 Apac

18 North America

19 Europe

20 Middle East & Africa

21 Latin America

22 Competitive Landscape

23 Key Company Profiles

24 Other Prominent Vendors

25 Report Summary

26 Quantitative Summary

27 Appendix

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