Allied Market Research
Loading...
0

Offsite Construction Market Expected to Reach $235.4 Billion by 2030-Allied Market Research

 

Report Code : A12504

quote The offsite construction market has witnessed significant growth over the past decade, owing to rise in focus toward green home buildings, rise in urbanization & industrialization, increase in pace of construction, and high efficiency of modular construction. However, lack of reliability on modular construction in earthquake prone regions and dearth of skilled labor in developing countries are anticipated to hamper the growth of the global offsite construction market. Conversely, increase in investment in infrastructure is expected to provide lucrative opportunities for the growth of the global offsite construction market quote

Priyanka Khandelwal
Lead Analyst, Construction and Manufacturing at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, Offsite Construction Market by Material, Construction Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The offsite construction market is expected to reach $235.4 billion by 2030 from $130.4 billion in 2020, registering a CAGR of 5.9% from 2021 to 2030. In 2020, the North America region dominated the offsite construction market, in terms of revenue, accounting for about 37.50% share of the offsite construction market.

Benefits associated with offsite construction products are easy to install, easy to transport, space constraints, and provide an aesthetic look. Offsite construction used in marine transportation protects from natural calamities, such as tsunami, earthquakes, and others, which drives the growth of the offsite construction market. The manufacturers of offsite construction are focusing on business expansion and new projects as strategies to increase their market share. For instance, in October 2018, SG Blocks entered into a strategic partnership with Harrison, Walker and Harper (HWH), an engineering, contracting, and industrial services firm. Under this alliance, HWH will become an SGB preferred partner to complete site work and installation of single-family modular homes. Similarly, in September 2018, SGB and its subsidiary, SG Residentials, entered into a partnership with Capital Plus Financial (CPF), one of the largest Community Development Financial Institutions (CDFI) in the U.S. and a subsidiary of Crossroads Systems, Inc. With this partnership, SGB is aiming to provide affordable modular homes at low-to-moderate-income areas across the country and Puerto Rico.

An increase in demand for prefabricated housing units, owing to reduction in construction cost & time and government initiative toward green building concept is predicted to cater to the growth of the offsite construction market. Many competitors, architects, and builders are taking advantage of used shipping containers for building homes.

Coronavirus disease is a dangerous issue causing major impact on the worldwide economy. This disease has spread rapidly across various countries such as India, the U.S., China, and others. During the lockdown, the global offsite construction traffic decreased, owing to the coronavirus outbreak. The offsite construction industry has widespread impact due to decline in international trade activities around the globe. In addition, supply chain of the offsite construction products stopped, owing to shortage of raw materials. Moreover, in 2021, with the availability of vaccine against COVID-19, the offsite construction market is expected to gradually witness growth.

The offsite construction market is segmented based on material, application, and region. Based on material, the market is classified into steel, wood, concrete, and others. The steel segment generated the highest revenue in 2020. Based on application, the market is divided into residential, commercial, and industrial. The residential segment generated the highest revenue in 2020. Based on construction type, the market is divided into fixed and movable. Fixed segment dominates the market in 2020.

Region-wise, offsite construction market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). In 2020, North America region was the highest contributor to the offsite construction market, and is anticipated to secure a leading position during the forecast period.

The major players, such as ATCO, Anderco Pte. Ltd, Giant Containers Inc, Honomobo Corporation, Lendlease Corporation, SG Blocks Inc, Skanska AB, and Speed House Group of Companies, are engaged in offering offsite construction products to the market.

Key Findings Of The Study

  • The report provides an extensive analysis of the current and emerging offsite construction market trends and dynamics. 
  • Based on material, the steel segment was the largest revenue generating segment in 2020.
  • On the basis of application, the residential segment generated the highest revenue in 2020.
  • Based on construction type, the fixed segment generated the highest revenue in 2020.
  • Region-wise, North America is anticipated to dominate the offsite construction market during the study period.
  • The report provides an extensive analysis of the offsite construction market trends and emerging opportunities of the market. 
  • The offsite construction market forecast analysis from 2021 to 2030 is included in the report.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Tushar Nagose
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Offsite Construction Market by Material (Steel, Wood, Concrete, and Others) and Application (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 3,713 niche industries and company profiles on more than 12,953 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Jan 2021

Surgical Equipment Market

Download Sample
rep-img

Published Date Nov 2020

Medical Implant Market

Download Sample
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Offsite Construction Market"
Purchase Enquiry