Prefabricated Building System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Dimensions (Skeleton System, Panel System, Cellular System, and Combined System), Application (Residential and Non-Residential), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

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Prefabricated Building System Industry Overview

Prefabricated Building System Market Size
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 6 %

Major Players

Prefabricated Building System Market Key Players

*Disclaimer: Major Players sorted in no particular order
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Prefabricated Building System Market Analysis

The prefabricated building system market is expected to grow at a CAGR of more than 6% during the forecast period. One of the major factors driving the growth of the market studied is the increasing demand for building construction in the Asia-Pacific region. On the flipside, technical issues associated with prefabrication, such as weak joints and poor thermal insulation performance, are expected to hinder the market growth.

  • The implementation of building information modeling is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world with large consumption from countries, such as China and Japan.

Prefabricated Building System Industry Segments

The prefabricated building system market report includes:

Dimensions
Skeleton System
Panel System
Cellular System
Combined System
Application
Residential
Non-Residential
Infrastructure
Commercial
Industrial/Institutional
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Russia
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Prefabricated Building System Market Trends

This section covers the major market trends shaping the Prefabricated Building System Market according to our research experts:

Non-Residential Segment to Expand at a Lucrative Rate

  • The market for industrial modular buildings is growing at a faster pace, due to the larger benefits of off-site construction. Off-site constructions are becoming more popular in the developing nations, due to accelerated project timelines, greater flexibility, more economical pricing, safer and greener construction technology, and the ability to service remote locations.
  • The demand for prefabricated building systems in the industrial/institutional sector has increased, as it fulfill the short-term necessities at lower costs. The buildings of permanent prefabricated building systems include manufacturing facilities, hospital facilities, educational classrooms, police stations, fire stations, etc.
  • The government of the United Kingdom had announced initiatives to construct new schools as a top priority. According to a publication by the United Kingdom government, there will be an addition of almost 7,30,000 school-age children by 2020. Around 24,287 additional classrooms are needed to accommodate this growing school-age population. According to a spokeswoman of the Department of Education, an investment of around GBP 7 billion is expected to be made on new constructions, by 2021.
  • Various regions in the United States, including Florida, San Diego, and Chicago, are constructing new hospitals, or expanding their original base, in recent years. Additionally, according to the survey by the Health Facilities Management, the construction of outpatient facilities has significantly increased across boards, when compared to the previous year.
  • Further, such expansions can be expected in the forecast period, thereby increasing the demand for the prefabricated building system market.
Prefabricated Building System Market Trends

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share. With growing residential and industrial activities, the demand for prefabricated building systems is increasing in the region.
  • Despite volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government (in order to withstand the demand stemming from the growing industrial and service sectors) has resulted in significant growth of the Chinese construction industry in the recent years.
  • As the construction industry is dominated by state-owned and private enterprises, the increased government and private spending in this regard are expected to push the industry toward global primacy. In recent years, the entry of major construction players (from the European Union) in China has further fuelled the growth of this industry.
  • Modular buildings are majorly used as they are often completed 30-50% faster than conventional structures. This significantly reduces the overall time and cost. The Japanese construction sector remains positive in terms of short-term growth, owing to the increasing demand triggered by a sudden rise in residential construction projects related to the Tokyo Olympics 2020.
  • The Japanese government is also constantly focusing on major long-term projects, like the Maglev railway long-term and short-term development plans. The country is expected to witness up gradation of highway networks, and also of a new rail link to Haneda Airport in Tokyo.
  • Hence, such positive growth trends are anticipated to boost the demand for market studied.
Prefabricated Building System Market Growth

Prefabricated Building System Market Competitor Analysis

The prefabricated building systems market is highly fragmented, with no player having a significant share to influence the market. The major companies include Algeco Scotsman, Skyline Champion Corporation, Lindal Cedar Homes, Kirby Building Systems LLC, and Astron Buildings, among others.

Prefabricated Building System Market Top Players

  1. Algeco Scotsman

  2. Skyline Champion Corporation

  3. Lindal Cedar Homes Inc.

  4. Kirby Building Systems

  5. Astron Buildings

*Disclaimer: Major Players sorted in no particular order

Algeco Scotsman, Skyline Champion Corporation, Lindal Cedar Homes, Kirby Building Systems LLC, and Astron Buildings

Prefabricated Building System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Building Construction in Asia-Pacific

      2. 4.1.2 Supportive Government Incentives and Policies

    2. 4.2 Restraints

      1. 4.2.1 Technical Issues Associated with Prefabrication

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Dimensions

      1. 5.1.1 Skeleton System

      2. 5.1.2 Panel System

      3. 5.1.3 Cellular System

      4. 5.1.4 Combined System

    2. 5.2 Application

      1. 5.2.1 Residential

      2. 5.2.2 Non-Residential

        1. 5.2.2.1 Infrastructure

        2. 5.2.2.2 Commercial

        3. 5.2.2.3 Industrial/Institutional

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

        4. 5.3.2.4 Rest of North America

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Russia

        6. 5.3.3.6 Spain

        7. 5.3.3.7 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Abtech Inc.

      2. 6.4.2 Algeco Scotsman

      3. 6.4.3 Astron Buildings

      4. 6.4.4 Butler Manufacturing

      5. 6.4.5 Kirby Building Systems

      6. 6.4.6 Lindal Cedar Homes Inc.

      7. 6.4.7 Lindal Cedar Homes Inc.

      8. 6.4.8 Modular Engineering

      9. 6.4.9 Niko Prefab Building Systems Pvt Ltd

      10. 6.4.10 Par-Kut International

      11. 6.4.11 Red Sea Housing

      12. 6.4.12 Schulte Building Systems Inc.

      13. 6.4.13 Skyline Champion Corporation

      14. 6.4.14 United Partition Systems Inc.

      15. 6.4.15 Vardhman Pre-Engineered Building Systems

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Implementation of Building Information Modelling (BIM)

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Prefabricated Building System Market Research FAQs

The Prefabricated Building System Market is studied from 2018 - 2028.

The Prefabricated Building System Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Algeco Scotsman, Skyline Champion Corporation, Lindal Cedar Homes Inc., Kirby Building Systems, Astron Buildings are the major companies operating in Prefabricated Building System Market.

Prefabricated Building System Industry Reports

In-depth industry statistics and market share insights of the Prefabricated Building System sector for 2020, 2021, and 2022. The Prefabricated Building System research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Prefabricated Building System report PDF.

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