Market Size of Egypt Prefab Wood Buildings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players_-_Copy.webp)
*Disclaimer: Major Players sorted in no particular order |
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Egypt Prefab Wood Buildings Market Analysis
The egypt's prefab wood buildings market is expected to register at a CAGR of 6% during the forecast period.
- Prefabricated building techniques emerged as a crucial tool for achieving sustainable development in the construction of dwellings worldwide. However, in a limited sense, similar techniques are still employed in housing construction in Egypt.
- One of the key pillars supporting Egyptian economic growth is the housing development industry. Therefore, the nation's prosperity can benefit from any progress in this industry.
- The Egyptian vision for development 2030 strongly emphasized the need to advance the house construction industry under sustainability principles. The three main criteria for strengthening this sector are affordability, implementation speed, and timeframe. It is because there is a 7 million unit backlog in affordable housing.
- For a long time and till today, Egyptian house construction relied mostly on the structural classic concrete cast-in-situ and masonry techniques. Traditional on-site construction techniques are the most widely used and successfully implemented. These systems' construction processes are heavily dependent on the on-site workers' activities, and every aspect of construction is carried out there.
- The coronavirus COVID-19 outbreak significantly influenced the prefabricated building business. The state of the global economy was greatly disturbed, impacting investments in cutting-edge technology like precast concrete. Construction firms suffered a tremendous loss due to the activities suspension, impacting the market for prefabricated buildings. During the projected period, the market is anticipated to exhibit a V-recovery pattern following COVID-19.
