Market Size of South Africa Prefabricated Buildings Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Prefabricated Buildings Market Analysis
- South Africa's prefabricated buildings industry is expected to grow at a CAGR of more than 5% during the forecast period. One of the major factors driving the growth of the prefabricated buildings market is the increasing demand for building construction in South Africa. The implementation of building information modeling (BIM) is projected to act as an opportunity for the prefabricated buildings market in the future. On the flip side, technical issues associated with prefabrication, such as weak joints and poor thermal insulation performance, are expected to hinder the market growth.
- The industry's growth over the forecast period will be supported by government investments in transport, energy, residential, telecommunication, and industrial projects. Support from the government for businesses and Small and Medium Enterprises (SMEs) is expected to boost business confidence.
- The demand for hospitals and patient bed facilities based on prefabricated construction has significantly increased during the peak of the pandemic as this type of construction needs a very less amount of completion time. The high cost of logistics involved in prefabricated building construction is expected to hinder the growth of the market.
