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How big is the prefabricated buildings market today, and what are its future growth expectations?
The prefabricated buildings market size has grown strongly in recent years. It will grow from $165.85 billion in 2024 to $178.95 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rise in demand for residential homes, increase in government support and rapid industrialization, growth in global awareness of environmental impact, increase in private-sector investments in construction, and rise in demand for new house construction.
The prefabricated buildings market size is expected to see strong growth in the next few years. It will grow to $239.23 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to rising construction activities, growing number of corporate offices, rising demand for modular houses, rising demand for turnkey solutions and growing need for a panel system. Major trends in the forecast period include advancements in modular construction techniques, adoption of sustainable materials, integration of smart home technology, adoption of 3D printing, enhanced customization options, and adoption of energy efficiency methods.
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What have been the primary factors driving the prefabricated buildings market’s growth?
The demand for residential homes is expected to propel the growth of the prefabricated buildings market going forward. The demand for residential homes is rising due to factors such as population growth, increased urbanization, and a heightened desire for home ownership and personalized living spaces. Prefabricated buildings benefit residential homes by enabling faster, more cost-effective construction with consistent quality, as components are pre-made in a controlled environment and quickly assembled on-site. For instance, in July 2023, according to the Australian Bureau of Statistics, an Australia-based government agency that collects and analyses statistics, the number of dwellings under construction rose by 1.3% to 240,813 in the March quarter of 2023, compared to 195,201 in March 2021. Therefore, the demand for residential homes is driving the growth of the prefabricated buildings market.
What are the key segments within the prefabricated buildings market?
The prefabricated buildings market covered in this report is segmented –
1) By Product: Skeleton System; Panel System; Cellular System; Combined System
2) By Material: Concrete; Glass; Metal; Timber; Other Materials
3) By Module Type: Bathroom Pods; Kitchenette; Other Module Types
4) By Application: Industrial; Commercial; Residential
Subsegments:
1) By Skeleton System: Steel Frame Systems; Concrete Frame Systems; Timber Frame Systems; Hybrid Frame Systems; Modular Skeleton Systems
2) By Panel System: Concrete Panel Systems; Steel Panel Systems; Timber Panel Systems; Sandwich Panel Systems; Glass Panel Systems; Prefabricated Wall Panel Systems
3) By Cellular System: Concrete Cellular Systems; Steel Cellular Systems; Modular Cellular Systems; Insulated Cellular Systems; Prefabricated Room Modules
4) By Combined System: Hybrid Structural Systems; Modular Prefabricated Units with Integrated Structural Elements; Mixed-Use Combined Systems; Combined Prefabricated Walls And Floors Systems
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Which key players are shaping the prefabricated buildings market?
Major companies operating in the prefabricated buildings market areDaiwa House Industry Co. Ltd., Sekisui House Real Estate Holdings Ltd., Skanska AB, Clayton Homes Inc., Bellway plc, Willscot Holdings Corp., Cavco Industries Inc., McGrath RentCorp Inc., Fleetwood Homes Inc., Astron Buildings S.A., Everest Industries Ltd, Veev, Alfa PEB Limited, Palomar Modular Buildings, Plant Prefab Inc., Lindal Cedar Homes Inc., Epack Polymers Pvt. Ltd., Lloyd Insulations Limited, Ramtech Building Systems Inc., Champion Prefabs, Blu Homes Inc., BOXX Modular Inc., Mighty Buildings Inc., Modular Building Systems LLC, TopHat
What major trends will shape the prefabricated buildings market during the forecast period?
Major companies operating in the prefabricated buildings market are focusing on strategic investments to enhance technological capabilities, expand their product offerings, and increase operational efficiency. Strategic investments enhance prefabricated buildings by advancing manufacturing technology, improving efficiency, and expanding product offerings, leading to faster construction, reduced costs, and more innovative and sustainable solutions. For instance, in February 2023, EPACK Prefab, an India-based manufacturer of pre-engineered building solutions, invested $23.62 million (?198 crore) to establish a new manufacturing facility in Andhra Pradesh. This facility will be located in the Mambattu Industrial area of Sullurpeta constituency, covering approximately 25 acres. The investment aims to capture a larger market share in the southern region of India, which is experiencing increased demand for prefabricated building solutions. The proximity to the southern market will also help reduce transportation costs, which currently inflate prices by approximately 20%.
How do regional factors impact the prefabricated buildings market, and which region is the largest contributor?
North America was the largest region in the prefabricated buildings market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prefabricated buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Prefabricated Buildings Market Report 2025 Offer?
The prefabricated buildings market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Prefabricated buildings refer to structures that are manufactured off-site in a factory or production facility, where individual components or entire sections are pre-built and then transported to the construction site for assembly. These buildings are designed for quick and efficient construction, often reducing the time and cost compared to traditional on-site building methods.
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