Prefabricated Building System Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Dimensions (Skeleton System, Panel System, Cellular System, and Combined System), Application (Residential and Non-Residential), and Geography

Market Snapshot

Prefabricated Building System Market - summary 1
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The prefabricated building system market is expected to grow at a CAGR of 5.9% during the forecast period of 2019 – 2024. 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.

Scope of the Report

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 & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

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 - by non resid

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share in 2018. 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 - region

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Competitive Landscape

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, Champion Home Builders, Inc., Redsea Housing, Kirby Building Systems LLC, Lindal Cedar Homes, etc.

Major Players

  1. Algeco Scotsman
  2. CHAMPION HOME BUILDERS, INC.
  3. Redsea Housing
  4. Kirby Building Systems LLC
  5. Lindal Cedar Homes

* Complete list of players covered available in the table of contents below

Prefabricated Building System Market - concentration

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

  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 & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

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

    2. 6.2 Market Share 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 Company

      5. 6.4.5 Champion Home Builders Inc.

      6. 6.4.6 Kirby Building Systems LLC

      7. 6.4.7 Lindal Cedar Homes Inc.

      8. 6.4.8 Modern Prefab Systems Pvt Ltd

      9. 6.4.9 Modular Engineering Company9.10 Par-Kut International, Inc.

      10. 6.4.10 Niko Prefab Building Systems Pvt Ltd

      11. 6.4.11 Panahome Corporation

      12. 6.4.12 Red Sea Housing Services Co. Ltd

      13. 6.4.13 Schulte Building Systems Inc.

      14. 6.4.14 United Partition Systems Inc.

      15. 6.4.15 Vardhman Building Systems

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Implementation of Building Information Modelling (BIM)

**Subject to Availability

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