UK Prefab Wood Buildings Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
UK Prefab Wood Buildings Market Analysis
The United Kingdom Prefab Wood Buildings Market is expected to register a CAGR of more than 4% during the forecast period (2023-2028).
- COVID-19 has slightly impacted the prefabricated housing market in the United Kingdom. Due to COVID-19 restrictions, many construction projects were delayed or canceled. In addition, the pandemic has boosted offsite construction in the country, which offered improved safety, reduced risk, and greater certainty of completion on time and within budget.
- Modular technology is gaining traction in the country, it is widely adopted in the country to meet net carbon zero by 2050 goals, as they are less energy efficient and fast-produced in manufacturing. In addition, the construction of wooden prefabricated buildings takes around 16 weeks, and the projects can be completed 30% to 50% sooner when compared to traditional construction. Moreover, these prefabricated structures significantly reduce construction waste, as the material is cut to shape by digital technology, and there is no need for excessive material, which reduces waste on site.
- Moreover, in 2022, the country increasingly adopting modular buildings to meet labor and housing shortages. In addition, the automated technologies, and innovative digital tools are driving the adoption of prefabricated buildings. In addition, the government also encouraging the developers to use more bio-based building materials, including wood.
- Meanwhile, to meet growing demand for wood, along with imports, the United Kingdom utilized locally produced wood. In 2021, more than 10.4 million tonnes of green softwood were harvested in the country, at a growth rate of 4%, when compared to the previous year. Thus, the country is witnessing lucrative growth in wood prefabricated buildings industry.
UK Prefab Wood Buildings Market Trends
This section covers the major market trends shaping the UK Prefab Wood Buildings Market according to our research experts:
Timber Buildings Witnessing Significant Growth
Timber is widely adopted in buildings prefab structures in the United Kingdom, to achieve net zero emission targets. In addition, in 2022, according to the Structural Timber Association (STA), the government encouraged the increasing use of wood as a building material to meet both housebuilding targets and its climate change commitments.
Moreover, in October 2022, fully prefabricated wood wall adoption witnessed significant growth, these walls are highly utilized as building envelopes, which has reduced energy consumption significantly in the country. In addition, the growing housing crisis in the country is driving the wooden modular homes.
According to national statistics, in Q1 2022, new home registrations increased by 25%, and more than 45,900 new homes were built, at a growth rate of 26% when compared to the same period of the previous year. Despite the increasing housing sector, the country is still facing a housing crisis, which will drive wooden prefab homes. Moreover, to meet the increasing demand for timber construction, timber products are widely imported into the country. In addition, in the first half of 2022, timber prices soared. Also, the price index of imported sawn or planed wood increased from 188 in 2021 to 214 by June 2022.
Increasing Costs of Construction is Driving the Market
The United Kingdom is witnessing a rise in construction costs past two years. In addition, the Russia-Ukraine war and soaring inflation are adding even more pressure on construction costs. Moreover, as per the Building Cost Information Service (BCIS) Materials Cost Index, the cost of construction materials has reached more than 17.5% growth when compared to the previous year. Moreover, in 2021, the cost of materials in constructing a three-bedroom, semi-detached house increased by 14%, which was around EUR 7,300 (USD 7,900), and further increased by 1%, which is approximately EUR 600 (USD 650) in 2022.
Moreover, in 2022, labor shortages emerged as the major driver of construction cost growth. According to Office for National Statistics, more than 1.3 million vacancies were recorded in March to May of 2022. Meanwhile, structural metals used in domestic construction have steep price growth, and August 2021 and September 2021 saw price rises of 13.4% and 15.7%, respectively, compared with similar periods in 2020.
Meanwhile, the growing construction costs drive the public to choose prefabricated wooden houses over conventional buildings. In addition, the country's construction cost reached an annual growth rate of almost ten percent in July 2022. Thus, the increasing construction prices resulted in consumer shifts towards modular housing adoption.
UK Prefab Wood Buildings Industry Overview
The report covers major players operating in the United Kingdom Prefab Wood Buildings Market. The market is highly competitive and fragmented in nature, with none of the players occupying the major share. To remain competitive in the market the major players in the market are constantly working to enhance their product offerings to meet the changing needs of the wooden prefab homes market. Some of the major players in the market include Algeco UK Limited, Passmores Portable Buildings Ltd, TG Escapes Limited, Phoenix Homes UK, etc.
UK Prefab Wood Buildings Market Leaders
Algeco UK Limited
Passmores Portable Buildings Ltd
TG Escapes Limited
Phoenix Homes UK
KOTO
*Disclaimer: Major Players sorted in no particular order
UK Prefab Wood Buildings Market News
December 2022: Modulaire Group, the parent company of Algeco (Europe's leading modular solutions brand), acquired Mobile Mini UK Holdings Limited from Mobile Mini, Inc. this acquisition strengthened Algeco's market leadership and support teamwork between the combined businesses, offering customers more comprehensive site accommodation and storage solutions.
September 2022: Koto (wooden prefab buildings manufacturer), launched new wooden accommodations for hotels, estates, and start-ups. The new brands include Muutama cabins and Heya cabins. In addition, these cabins are highly energy efficient, which helps in with savings on heating and cooling costs.
UK Prefab Wood Buildings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Insights on Technological Trends
4.3 Industry Value Chain/Supply Chain Analysis
4.4 Spotlight on Government Regulations and Key Initiatives in the Market
4.5 Brief on Different Structures Used in the Wood Prefab Buildings Industry
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.6.3 Opportunities
4.7 Porter's Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers/Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitute Products
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Panel Systems
5.1.1 Cross-Laminated Timber (CLT) Panels
5.1.2 Nail-Laminated Timber (NLT) panels
5.1.3 Dowel-laminated Timber (DLT) Panels
5.1.4 Glue-Laminated Timber (GLT) Columns and Beams
5.2 By Application
5.2.1 Single Family Residential
5.2.2 Multi-Family Residential
5.2.3 Office
5.2.4 Hospitality
5.2.5 Others
6. COMPETITIVE LANDSCAPE
6.1 Overview
6.2 Company Profiles
6.2.1 Ideal Modular Homes
6.2.2 Boutique Modern Limited
6.2.3 Ideal Park Homes
6.2.4 Wudl Limited
6.2.5 ZED PODS Limited
6.2.6 Vita-Modular
6.2.7 Algeco UK Limited
6.2.8 Passmores Portable Buildings Ltd
6.2.9 TG Escapes Limited
6.2.10 Phoenix Homes UK
6.2.11 KOTO
6.2.12 K-HAUS
6.2.13 Danwood S.A.
6.2.14 Palmatin
6.2.15 Timber Cabins*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
UK Prefab Wood Buildings Industry Segmentation
Wooden prefabricated buildings involve premade pieces that are constructed off-time. Prefabricated wood building kits, similar to life-sized Legos, are made up of prefabricated components that are delivered and assembled on-site. Furthermore, this report covers market insights, such as market dynamics, drivers, restraints, opportunities, technological innovation, its impact, porter's five forces analysis, and the impact of COVID-19 on the market. In addition, the report also provides company profiles to understand the competitive landscape of the market.
The United Kingdom Prefab Wood Buildings Market is segmented By Panel Systems (Cross-Laminated Timber (CLT) Panels, Nail-Laminated Timber (NLT) panels, Dowel-laminated Timber (DLT) Panels, and Glue-Laminated Timber (GLT) Columns and Beams), and By Application (Single Family Residential, Multi-Family Residential, Office, Hospitality, and Others). The report offers market size and forecasts for the United Kingdom Prefab Wood Buildings Market in value (USD billion) for all the above segments.
| By Panel Systems | |
| Cross-Laminated Timber (CLT) Panels | |
| Nail-Laminated Timber (NLT) panels | |
| Dowel-laminated Timber (DLT) Panels | |
| Glue-Laminated Timber (GLT) Columns and Beams |
| By Application | |
| Single Family Residential | |
| Multi-Family Residential | |
| Office | |
| Hospitality | |
| Others |
UK Prefab Wood Buildings Market Research FAQs
What is the current United Kingdom Prefab Wood Buildings Market size?
The United Kingdom Prefab Wood Buildings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in United Kingdom Prefab Wood Buildings Market?
Algeco UK Limited, Passmores Portable Buildings Ltd, TG Escapes Limited, Phoenix Homes UK and KOTO are the major companies operating in the United Kingdom Prefab Wood Buildings Market.
What years does this United Kingdom Prefab Wood Buildings Market cover?
The report covers the United Kingdom Prefab Wood Buildings Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Prefab Wood Buildings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United Kingdom Prefab Wood Buildings Industry Report
Statistics for the 2024 United Kingdom Prefab Wood Buildings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United Kingdom Prefab Wood Buildings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
