Market Size of India Prefabricated Buildings Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 13.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Prefabricated Buildings Market Analysis
The size of India prefabricated buildings market is USD 2.3 billion in the current year and is anticipated to register a CAGR of over 13% during the forecast period.
- The COVID-19 pandemic had caused massive disruption to construction projects all over India. Manufacturing companies 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 had decreased significantly because of the decline in building and construction operations, which led to a significant impact on market growth.
- 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.
