PREFABRICATED BUILDINGS INDUSTRY - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECAST (2022- 2027)

The Prefabricated Buildings Industry is Segmented by Material Type (Concrete, Glass, Metal, Timber, and Other Material Types), Application (Residential, Commercial, and Industrial), Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The report offers market size and forecast (in USD billion) for the abovementioned segments.

Market Snapshot

Prefabricated Buildings Market Summary
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: >6.87 %
Prefabricated Buildings Market Major Players

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Market Overview

The prefabricated buildings industry is expected to register a CAGR of more than 6.87% during the forecast period. All construction-related operations worldwide have been halted due to the COVID-19 pandemic and consequent lockdowns. As a result, modular construction projects in various construction segments, such as educational, residential, airports, and others, had decreased, thus significantly impacting demand for prefabricated buildings. In several places, the supply chain had also been interrupted, thus causing a delay in the delivery of construction material required and affecting the construction activities.

  • The adoption of additive manufacturing in Europe is expected to significantly boost the prefabricated construction sector. Companies are embracing eco-friendly products and production practices to set themselves apart from the competition. The introduction of energy-absorbing materials such as micro dwellings resulted from the focus on energy efficiency.
  • Another major factor driving market expansion in the region, particularly in Switzerland, the Nordics, and the United Kingdom, is the introduction of turnkey solutions. The prefabricated building industry in Europe is dominated by Germany, the Nordic countries, and the United Kingdom.
  • The United Kingdom is a prospective market for prefabricated building companies. The major players are investing in improved performance and productivity to capitalize on the market's growth potential and modular construction approaches. The existing shortage of skilled labor in the construction industry is a crucial element sustaining the United Kingdom's position in the European prefabricated building industry.
  • Prefab enterprises have a huge opportunity in India, where there is a need for hundreds or thousands more plants in the future. India is anticipated to be among the fastest-growing countries in terms of construction output over the next few years, making technology a critical component.
  • India is projected to be the world's second-largest building market in the next five years. A continued government push for digitalization and the adoption of cutting-edge construction technology like BIM is a key driver for the adoption of prefabricated buildings. Government efforts such as "Digital India," "Housing for All," and "Bharatmala Pariyojana" have boosted the use of prefabricated buildings in India.

Scope of the Report

The market is segmented by Material Type (Concrete, Glass, Metal, Timber, and Other Material Types), Application (Residential, Commercial, and Industrial), and Geography (North America, Europe, Asia-Pacific, and the Rest of the World ). The report offers market size and forecast for the search and rescue aircraft market in value (in USD billion) for the above-mentioned segments.

By Material
Concrete
Glass
Metal
Timber
Other Materials
By Application
Residential
Commercial
Industrial
By Region
North America
United States
Canada
Mexico
Europe
Germany
Italy
United Kingdom
Sweden
Netherlands
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Indonesia
Singapore
Malaysia
Rest of Asia-Pacific
Rest of the World

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Key Market Trends

Growth in Modular Construction in the United Kingdom

The United Kingdom is a market leader in its high rate of modular construction adoption. According to industry projections, the UK modular construction market is likely to grow further over several years, owing to enormous ongoing investments in residential building development, a renewed focus on updating healthcare facilities, and a chronic shortage of trained workers. Meanwhile, shorter daytime hours and frigid climatic conditions in nations like Finland, Sweden, and Canada stifle the growth of conventional construction methods. As a result, modular construction has become a viable alternative to traditional methods.

Due to the region's booming construction industry, Asia-Pacific is experiencing strong growth. Commercial building construction is quickly rising in nations like India, China, and Indonesia because they are some of the greatest outsourcing and manufacturing centers. Compared to the United States, the European region has a high level of interest in modular construction. As costs continue to rise to unaffordable levels and trustworthy labor remains rare, more cities (like New York City and San Francisco) and countries (like England, Singapore, and Hong Kong) are turning to modular construction to alleviate chronic housing shortages.

Prefabricated Buildings Market: Imports of Modular Buildings, In USD Million, United Kingdom, 2018 - 2021

Asia-Pacific is Projected to Witness Highest Growth in the Market

The Asia-Pacific prefabricated buildings market is estimated to witness the highest growth over the next five years. The prefabricated construction market in Japan is comparatively mature and developed compared to other regions of the world. The inspections by industry-specific trained professionals rather than a general building code have also contributed to the development of the Japanese prefabricated housing market. The concept of prefabrication is gaining prominence in the Indian construction market. The entry of prefabricated homes in India has paved the way for innovative and technologically advanced construction and design methods for all kinds of construction, such as villas and mass townships. With the population continuing to decline in Japan combined with an aging population, it is undeniable that the demand for new house construction also decreases. The companies are looking to capture the potential growth in China and other Asian countries as demand for new construction declines in the shrinking domestic market.

Prefabricated Buildings Market

Competitive Landscape

The major companies in the prefabricated buildings industry are covered in this research. The market is fragmented, but it is likely to grow during the forecast period as prefab construction building investments and upcoming significant projects in various developing and developed countries increase. The major players include Clayton Homes, Sekisui Homes, China Saite Group Company Limited, PEAB, and Barratt Developments PLC.

Major Players

  1. Clayton Homes

  2. Sekisui Homes

  3. China Saite Group Company Limited

  4. PEAB

  5. Barratt Developments PLC

Prefabricated Buildings Market Concentration

Recent Developments

Jul 2021: Modulaire Group acquired Tecnifor SpA and the business and operations of Locabox SRL and FAE SpA. Tecnifor and Locabox are among the leading providers of modular building leasing solutions in Italy. The acquisition aims to strengthen Modulaire Group’s presence in Italy, focusing on optimizing sales, an efficient cost base and granular management of branch-level performance, and effective capital investment.

May 2021: MiTek, a global provider of innovative construction-based software, services, and engineered building solutions owned by Berkshire Hathaway and Danny Forster & Architecture (DF&A), a New York City-based architecture firm, announced the formal launch of its Modular Initiative, with the mission to help the construction industry meet the global demand for smarter, more affordable, and more sustainable buildings and communities.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Analysis Methodology

    2. 2.2 Research Phases

  3. 3. EXECUTIVE SUMMERY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Current Market Scenario

    2. 4.2 Market Dynamics

      1. 4.2.1 Drivers

      2. 4.2.2 Restraints

      3. 4.2.3 Opportunities

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

    4. 4.4 Value Chain/Supply Chain Analysis

    5. 4.5 Government Regulations

    6. 4.6 Technological Developments

    7. 4.7 Brief on Different Structures Used in the Prefabricated Buildings Industry

    8. 4.8 Cost Structure Analysis of the Prefabricated Buildings Industry

    9. 4.9 Impact of COVID-19 on the market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Material

      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 Materials

    2. 5.2 By Application

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

      3. 5.2.3 Industrial

    3. 5.3 By Region

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 Italy

        3. 5.3.2.3 United Kingdom

        4. 5.3.2.4 Sweden

        5. 5.3.2.5 Netherlands

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Indonesia

        6. 5.3.3.6 Singapore

        7. 5.3.3.7 Malaysia

        8. 5.3.3.8 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Overview (Market Concentration and Major Players)

    2. 6.2 Company Profiles

      1. 6.2.1 Sekisui House

      2. 6.2.2 Daiwa House Industry

      3. 6.2.3 Ichijo

      4. 6.2.4 Skyline Champion Corporation

      5. 6.2.5 Morton Buildings Inc.

      6. 6.2.6 Clayton Homes

      7. 6.2.7 Skanska AB

      8. 6.2.8 Barratt Developments PLC

      9. 6.2.9 Persimmon Homes Limited

      10. 6.2.10 China Saite Group Company Limited

      11. 6.2.11 ILKE Homes*

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

  8. 8. APPENDIX

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Frequently Asked Questions

The Prefabricated Buildings Market market is studied from 2017 - 2027.

The Prefabricated Buildings Market is growing at a CAGR of >6.87% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Clayton Homes, Sekisui Homes, China Saite Group Company Limited, PEAB, Barratt Developments PLC are the major companies operating in Prefabricated Buildings Market.

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