Market Size of United Kingdom Prefab Wood Buildings Industry
| 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.
