Prefabricated Construction Market Outlook – 2028
Prefabricated construction is the manufacturing of component or structure on offsite and then transferred these sub-assemblies to on onsite and then assembling is done as per the need. Prefabricated construction has an extensive number of benefits such as time saving, reduce site disruption, increase safety, and many more. Prefabricated construction provides consistent quality to structure and decrease the labor and operational cost which results in financial saving. Prefabrication construction is ecofriendly in nature since, lesser amount of equipment used with minimum material wastage and increase the possibility of construction increases on high altitudes and tight streets also. Prefabricated construction is highly beneficial for the projects with high degree of redundancy, which means that the building having similar type of rooms, sub-structure and others. Major projects for prefabricated construction are hotels, hospitals, institutions or colleges, and residential societies.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global prefabricated construction market.
- Prefabricated is time saving and safer than onsite construction. During the COVID-19 outbreak, many new healthcare projects started across the globe that needed to be completed in an effective time. China built 1,500 rooms hospital in 5 days with the use of prefabricated construction, U.S. also started prefabricated hospitals during the outbreak. However, there was sluggish impact and got the new opportunity to prefabricated construction industry.
- Prefabricated construction is a sub part of construction industry, due to less workforce and more restrictions in lockdown, construction industry has had negative impact and the operational work was stopped for few months. Hence, there was a minimal growth in the prefabricated construction market.
- Moreover, the supply of required products for this industry was also stopped due to restrictions on interstate exchange such as sand and gravel comes from seashore or river-shore. Due to all these reasons, prefabricated construction industry suffers a lot and had a huge decline in the market during year 2020.
- Major projects for prefabricated construction are hotels, hostels, residential societies and government river & drainage projects and all these got stopped due to affected supply chain, less demand and workforce. However, there was highly impact on prefabricated construction industry.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factors responsible for the growth of the prefabricated construction is the rapid increase in, urbanization, population, industrialization, and privatization. Increase in urbanization and population led to increase in large number of new projects. Projects such as metro trains, residential apartments, hospitals are major applicants of prefabricated construction. There are lot of advancements in technology in the construction sector and prefabricated construction is one of them. Permanent modular building is the sub part of prefabricated construction and used in multi-story buildings. Healthcare sector is one of the high paced sectors across the globe and using prefabricated construction since, it is time saving, increase safety, and have minimum material wastage. Prefabricated construction improves the tensile and compressive strength of structure and increase the durability by providing some important application required to structure such as tight joint fill, structural bonds, floor coating, caulks and concrete repair.
In terms of market share, the Middle East accounts for a major fraction of the prefabricated construction market because of the major use of high technology construction field and high demand of superstructure across the region. The market in the Asia-Pacific region is also expected to grow at a significant pace because of the presence of a massive population in the emerging economies of the region.
Key benefits of the report:
- This study presents the analytical depiction of the global prefabricated construction market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global prefabricated construction market share.
- The current market is quantitatively analyzed to highlight the global prefabricated construction market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global prefabricated construction market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the prefabricated construction market research report:
- Which are the leading market players active in the prefabricated construction market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Prefabricated Construction Market Report Highlights
| Aspects | Details |
 By Type |
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 By Material |
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 By Module |
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 By Dimension |
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 By End Use Industry |
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 Key Market Players | Atco Ltd. (Canada), Ozgeyapi, EPACK Prefab, Modulex and McKinsey & Company., Red Sea Housing (Saudi Arabia), Containex, Laing O’Rourke (UK), Kleusberg GmbH (Germany), Larsen & Toubro Limited, Skanska AB (Sweden), ACS Group |
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