Governments' initiatives in developing countries for affordable housing within shorter timeframes have boosted the demand for prefabricated construction.
Arizton is pleased to announce its latest report, prefabricated buildings market - global outlook & forecast 2023-2028, shedding light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and a competitive business landscape. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current protein market dynamics and future prospects.
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The global prefabricated building market will reach USD 210.80 billion by 2028, growing at a CAGR of 7.84%. Browse 57 market data tables, and 75 figures spread through 237 pages and in-depth TOC on prefabricated building market Report by material (steel, concrete & cement, wood, and other materials), system (cellular system, panel system, skeleton system, combined system, and other systems), end-user (non-residential (commercial building, hospitality, government, education, and other non-residential) and residential), geography (APAC, North America, Europe, Latin America, and Middle East & Africa)
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The demand for prefabricated buildings in the well-established markets of Europe and North America is growing rapidly. This heightened demand is attributed to the increasing commercial adoption of prefabricated construction across various sectors, including healthcare, hospitality, government, and more. Which, in turn, offers huge opportunities for vendors to invest. In addition, the infrastructure demand arises due to changing conventional construction processes to innovative construction processes. The need for new prefabricated houses in the market is growing, while upgrades and replacements are also driving the market growth.
In recent decades, the global construction sector has experienced significant growth driven by increasing urbanization and population expansion. The construction industry is expected to continue expanding due to substantial opportunities in residential, commercial, and infrastructure development. As urbanization continues to rise, many emerging countries have prioritized the construction of housing and infrastructure, particularly in large cities, leading to increased investment in these areas. Mergers and acquisitions, in which large, well-established organizations purchase companies and join the construction sector, have also been increasingly common in recent years. In the construction business, more than 100 cross-border agreements were registered in 2019, with nearly 45 % being mergers and acquisitions among worldwide enterprises. The APAC region's construction business had the most extensive mergers and acquisitions. Growth can be more concentrated in the real estate and residential sector, supported by low-interest rates and higher incomes. The growing population and the expanding demand for public construction activities are expected to fuel the growth in the construction industry during the forecast period, stimulating the demand for prefabricated buildings globally.
Growing Popularity of Turnkey Solutions Driving the Future of the Prefabricated Buildings Market
With the steady growth in the demand from commercial real estate as well as for homeownership in the residential sector, the interior turnkey solution market has witnessed a progressive trend across the globe. Today, various start-ups, collaborative workspaces, and other offices, be it an established business or a new company, opt for complete fit-out services. As a one-stop solution that overcomes the hassle of limited time constraints, Turnkey is a perfect solution for all commercial interior problems. Today, clients seek a single trusted partner to deliver fit-out solutions for their buildings instead of multiple vendors, which was the prevailing custom to ensure assured quality, timely delivery, and within prescribed budgets. However new, the concept of a one-stop solution has been welcomed for designing various commercial spaces. Meanwhile, the need for higher-quality homes can be more easily fulfilled with well-developed prefabricated options, which are more affordable. Turnkey models will account for the most growth, accounting for 11,600 of the 29,600 units, closely followed by floor-covering models. In 2022, 70,100 units would have been sold across six Northern European countries, with German demand responsible for a significant portion of the number, especially for turnkey solutions.
Key Company Profiles: Alho Systembau, Bouygues Batiment International, Astron Buildings, Berkeley Group, Ceramic Houses, DFH Group, Fertighaus Weiss, Ilke Homes, Kleusberg, Laing O’Rourke, Modulaire Group, Moelven, Segexha Group, Skanska Group, Vitahus, REM, Danish Modular System, and HUF HAUS
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