Market Trends of United Kingdom Prefabricated Buildings Industry
Need for Precast Concrete Technology Driving the Market
There is a growing demand for precast concrete in the construction industry (residential and commercial) in the UK. Structural building components are in high demand due to various factors such as fast installation, variety of options, ease of maintenance, and low cost.
The growing demand for sustainable and environmentally friendly building products is driving the structural building component segment of the precast concrete market in the UK. The growing awareness of cost-effective and easy-to-maintain building materials is driving the market for structural building components within the precast concrete industry in the UK. Precast concrete structural building components help to reduce installation, repair, and maintenance time. This is one of the key factors driving the UK market for precast concrete structural components.
Opportunities in Affordable Housing & Residential Construction to Boost the Prefab market in 2023 and Going Forward
While technology has revolutionized many aspects of life, including transportation, entertainment, shopping, and consumer goods, housebuilding has been slow to catch up. That is all set to change with the introduction of the next generation of factory-built modular homes.
A new report from Make UK Modular, in collaboration with KOPE, has revealed that by 2025, the modular housing industry will be able to provide 20,000 energy-efficient, low-carbon homes across the UK. These homes will be 55% less likely to need to be heated than the average UK family house and will be built twice as fast.
Modular manufacturers are already setting up plants in post-industrial small towns or cities, employing more than 3,000 people, and bringing GBP 700 million (USD 860.10 million) of investment to low-growth, low-employment areas.
The government has expedited the planning process for modular homes and committed to 20% of the affordable housing program for modular homes, which would double new jobs in a short period.
