India Prefabricated Buildings Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The India Prefabricated Buildings Industry is segmented by Material Type (Concrete, Glass, Metal, Timber, and Other Material Types) and Application (Residential, Commercial, and Other Applications). The report offers market size and forecasts for India's prefabricated buildings industry in value (USD billion) for all the above segments.

Market Snapshot

India Prefabricated Buildings Industry - Market Summary
Study Period: 2018-2027
Base Year: 2021
CAGR: >8 %

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Market Overview

The prefabricated building market in India is expected to register a CAGR of over 8% during the forecast period (2022-2027).

The COVID-19 pandemic has caused massive disruption to construction projects all over India. Manufacturing companies have faced a variety of challenges because of the scarcity of raw materials. Furthermore, construction contracts had been halted, resulting in a decrease in the growth of the prefabricated building market. The demand for prefabricated building systems has decreased significantly because of the decline in building and construction operations, which has had a significant impact on market growth.

By 2022, India will require 50 million homes, and more than 90 smart cities are being planned. Offsite construction and prefabricated homes will play a key role in achieving such huge goals in such a short amount of time, according to industry experts.

There is a big opportunity for prefab companies in India, and hundreds of thousands of plants are expected to be required in the future. Over the next few years, India will feature among the fastest-growing countries in terms of construction output, making technology intervention a key component. India is expected to become the third-largest construction market in the world by 2025.

Prefab construction doesn't require significant investment to maintain it. While some cities, such as Bengaluru, have adopted the concept of prefab, other parts of India continue to face challenges, owing to issues such as government approvals and the lack of suitable land for construction.

Scope of the Report

A prefabricated building is a building or part of a building that has been manufactured in advance and can be easily transported and assembled. The Indian prefabricated buildings industry is segmented by material type (concrete, glass, metal, timber, and other material types) and application (residential, commercial, and other applications). The report offers market size and forecasts for India's prefabricated buildings industry in value (USD billion) for all the above segments.

By Material Type
Concrete
Glass
Metal
Timber
Other Material Types
By Application
Residential
Commercial
Other Applications (Industrial, Institutional, and Infrastructure)

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Key Market Trends

Government Initiatives in the Infrastructure and Construction Sector to Boost the Industry

In India, the construction industry is divided into two categories: real estate and urban development. Residential, office, retail, hotels, and leisure parks are all included in the Real Estate segment. Water supply, sanitation, urban transportation, schools, and healthcare are all sub-segments of the urban development segment.

By 2025, India's construction industry is expected to be worth USD 1.4 trillion. The urban population will contribute 75% of GDP (up from 63%), and 68 cities will have populations of over 1 million, up from 42 in 2021.

India's construction industry is divided into 250 sub-sectors with cross-sectoral connections. By 2030, India's real estate industry is expected to be worth USD 1 trillion, contributing 13% of the country's GDP.

India has a USD 1.4 trillion infrastructure investment budget under National Infrastructure Pipeline (NIP), with 24% going to renewable energy, 19% to roads and highways, 16% to urban infrastructure, and 13% to railways.

Between April 2000 and September 2021, Foreign Direct Investment (FDI) in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction (infrastructure) activities totaled USD 26.16 billion and USD 25.95 billion, respectively.

Technology-driven urban planning schemes, such as the revolutionary Smart City Mission (target 100 cities), are expected to improve the quality of life.

India Prefabricated Buildings Industry - Driving Factor Trend

Need for Precast Concrete Technology Driving the Market

Between 1901 and 2021, India's urban population grew at a rapid speed, resulting in a scarcity of land, housing, congested transportation, and basic facilities. Precast construction, with proper planning and execution, can meet the needs of the housing market.

Precast construction accounts for only 2% of the Indian construction industry's USD 500 million market.

Precast systems are mostly used in India for infrastructure projects such as bridges and flyovers. To meet housing demands, the Government of India has approved the use of precast concrete construction methods.

According to the Ministry of Housing and Urban Poverty Alleviation, approximately 96% of 18.78 million dwelling units belong to Economically Weaker Section (EWS) and Low Income Group (LIG) households.

The Government of India proposed "Housing for All" as part of the Pradhan Mantri Awash Yojana scheme (PMAY). To meet the PMAY-2022 target, precast technology is being used to improve construction quality while also shortening the project's execution time.

In India, there are currently very few trained people available in the private sector to implement the precast concrete system. The service provided is more focused on the various other market-building methods and techniques available.

India Prefabricated Buildings Industry - Driving Factor Trend

Competitive Landscape

The report covers the major players operating in the Indian prefabricated buildings industry. The market is highly competitive with few major players. The market is moderately fragmented, and the market is expected to grow during the forecast period due to the increase in the prefab construction building investments and upcoming major projects in the country, and other few factors are driving the market.

Recent Developments

In February 2022, EPACK Prefab (turnkey solution providers of innovative and efficient building materials and packaging solutions) provides Amarnath Yatra Pilgrims the Safe and finest accommodation with modern facilities. They accomplished this project, which consists of G+2 buildings with modern facilities. There were several obstacles, ranging from thefts to a lack of proper infrastructure for transporting the materials.

In December 2021, Janaadhar Constructions (an affordable housing company) announced the completion of a purpose-built precast concrete factory, which will result in significant energy and water savings in housing construction. The plant, which is being funded by Reall (an innovator and investor in climate-smart, affordable housing), will produce modular housing panels that, when built on-site, will provide affordable green homes to low-income families all over India.

In June 2021, Housejoy (a construction, renovation, interior design, and home maintenance company) announced a partnership with Tata Steel Nest-In to provide prefabricated modular housing solutions in Bengaluru. Housejoy will use Tata Steel's prefabricated construction solutions to build steel-intensive modular homes in Bengaluru as part of the partnership.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Analysis Methodology

    2. 2.2 Research Phases

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Dynamics

      1. 4.2.1 Drivers

      2. 4.2.2 Restraints

      3. 4.2.3 Opportunities

    3. 4.3 Insights into Supply Chain/Value Chain Analysis

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

    5. 4.5 Technological Trends

    6. 4.6 Brief on Different Structures Used in the Prefabricated Buildings Industry

    7. 4.7 Cost Structure Analysis of the Prefabricated Buildings Industry

    8. 4.8 Impact of COVID 19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Material Type

      1. 5.1.1 Concrete

      2. 5.1.2 Glass

      3. 5.1.3 Metal

      4. 5.1.4 Timber

      5. 5.1.5 Other Material Types

    2. 5.2 By Application

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

      3. 5.2.3 Other Applications (Industrial, Institutional, and Infrastructure)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Overview (Market Concentration and Major Players)

    2. 6.2 Company Profiles

      1. 6.2.1 Everest Industries Limited

      2. 6.2.2 Satec Envir Engineering (India) Private Limited

      3. 6.2.3 Epack Prefab

      4. 6.2.4 Speed 4 Prefab Solutions Pvt. Ltd

      5. 6.2.5 Balarka Fabricon Private Limited

      6. 6.2.6 Loom Crafts Prefab

      7. 6.2.7 ASS Engineers India Pvt. Ltd

      8. 6.2.8 Primex Building Systems

      9. 6.2.9 Champion Prefabs

      10. 6.2.10 Interarch Building Products Pvt. Ltd

    3. *List Not Exhaustive
  7. 7. FUTURE OF THE MARKET

  8. 8. DISCLAIMER

  9. 9. APPENDIX

    1. 9.1 Macroeconomic Indicators (GDP Breakdown by Sector, Contribution of Construction to the economy, etc.)

    2. 9.2 Key Production, Consumption, Exports, and Import Statistics of Construction Materials

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Frequently Asked Questions

The India Prefabricated Buildings Industry market is studied from 2018 - 2027.

The India Prefabricated Buildings Industry is growing at a CAGR of >8% over the next 5 years.

Everest Industries Limited, Satec Envir Engineering (India) Private Limited, Epack Prefab, Speed 4 Prefab Solutions Pvt. Ltd, Balarka Fabricon Private Limited are the major companies operating in India Prefabricated Buildings Industry.

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