The global prefabricated building system market is expected to grow at an estimated CAGR of about 5.95% over the forecast period of 2018-2023. One of the major factors driving the growth of the market studied is the increasing demand for building construction in Asia-Pacific. On the flipside, technical issues associated with prefabrication such as weak joints and poor thermal insulation performance is expected to hinder the market growth.
Time & Cost-Effective Method of Construction
Time and cost are the two parameters associated with construction activity that has long been considered as a constraint for the growth of the industry, in many emerging and matured economies. Overcoming this constraint has been one of the major hurdles for many major construction industries across the globe. Prefabricated building system acts as one of the major solutions for these problems. Prefabricated building system can reduce build time by 30-50% and provide an alternative solution in today's market. The process is cost effective because of the less labor involved in the on-site activities. Another indirect effect associated with the less onsite activities associated with the method is the significantly-less amount of waste generated. For such benefits, prefabricated building system activities are gaining ground in today’s construction market.
Combined System – A Huge Market Potential
Combined systems segment include combination of Skeleton, Panel and Cellular system types. Prefabricated building is the completely assembled and erected building of which the structural parts consist of prefabricated individual units or assemblies using ordinary or controlled materials. In many developing and developed countries such as US, Japan, China, India, UK etc. combined systems are majorly used in the construction of ware houses, offices etc. Algeco Scotsman, Kirby Building Systems and Astron Buildings are some of the major players in the prefabricated combined systems segment.
Asia-Pacific to Dominate the Market
When it comes to prefabricated building system, Asia-Pacific holds the largest share of the market worldwide and China alone has more than 7,000 indigenous dedicated players. Rapid increase in population in regions of China and India is expected to give a rise in prefabricated building system activity. China has over 7,000 prefab manufacturers, more than any other country. The sheer number of players and the amount of R&D investment have created options for customers who are considering prefab for luxury residential houses or high-end commercial structures. the housing authorities of Hong Kong has launched a number of measures to push-start the construction of low-cost housing. The authorities have projected a capital expenditure in construction of HKD 23,923 million in its proposed budget for 2018-19, i.e. 7% higher than the budget allotted for the FY2017, in order to the construct more affordable apartments. All such factors are increasing the demand for prefabricated building system in Asia-Pacific region.
The major players include – Algeco Scotsman, Niko Prefab Building Systems Pvt. Ltd., Red Sea Housing Services Co. Ltd., and Champion Home Builders, Inc, amongst others.
Prefabricated Building System Market Report Summary
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Metrics |
Details |
|---|---|
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Industry |
Prefabricated building system Market |
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Study Period |
(2016 – 2023) |
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Regions Covered |
North America, South America, Asia-Pacific, Europe and Middle East & Africa |
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Companies Covered |
Algeco Scotsman, Niko Prefab Building Systems Pvt. Ltd., Red Sea Housing Services Co. Ltd., Champion Home Builders, Inc, etc. |
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Report Coverage |
Revenue forecast, market share analysis, and market dynamics |
Reasons to Purchase This Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The application type that is expected to dominate the market
- Region that is expected to witness the fastest growth during the forecast period
- Identify the latest developments, market share, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel)
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1. Introduction
1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand for Building Construction in Asia-Pacific
4.1.2 Supportive Government Incentives and Policies
4.2 Restraints
4.2.1 Technical Issues Associated with Prefabrication
4.2.2 Other Restraints
4.3 Opportunities
4.3.1 Implementation of Building Information Modelling (BIM)
5. Market Segmentation and Analysis
5.1 By Dimensions
5.1.1 Skeleton system
5.1.2 Panel System
5.1.3 Cellular System
5.1.4 Combined System
5.2 By Application
5.2.1 Residential
5.2.2 Non-Residential
5.2.2.1 Infrastructure
5.2.2.2 Commercial
5.2.2.3 Industrial/Institutional
6. Regional Market Analysis
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Russia
6.3.6 Spain
6.3.7 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Products & Services, Financials**, Recent Developments)
9.1 Abtech, Inc.
9.2 Algeco Scotsman
9.3 Astron Buildings
9.4 Butler Manufacturing Company
9.5 Niko Prefab Building Systems Pvt. Ltd.
9.6 Kirby Building Systems LLC
9.7 Lindal Cedar Homes, Inc.
9.8 Modern Prefab Systems Pvt. Ltd.
9.9 Modular Engineering Company9.10 Par-Kut International, Inc.
9.11 Red Sea Housing Services Co. Ltd.
9.12 Panahome Corporation
9.13 Schulte Building Systems, Inc.
9.14 United Partition Systems, Inc.
9.15 Vardhman Building Systems
9.16 Champion Home Builders, Inc.
10. Disclaimer
**Subject to availability on public domain
