Global Modular and Prefabricated Buildings Market, Forecast to 2025

Global Modular and Prefabricated Buildings Market, Forecast to 2025

Increasing Labor Costs and Construction Timelines are Boosting the Adoption of Prefabricated and Modular Buildings Across the Globe

RELEASE DATE
22-Oct-2019
REGION
Global
Research Code: MED2-01-00-00-00
SKU: CM01706-GL-MR_23588

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Description

Modular or prefabricated buildings are made in a factory and installed later at a site, unlike traditionally-constructed buildings, which are built at the site itself. Major materials involved in the market are wood, concrete, steel, and plastics and composites. The modular and prefabricated building market is currently at a nascent stage when compared to traditional building construction; however, the market is developing rapidly and leading to increasing penetration of modular buildings within the construction sector. The market in this study is analyzed for end-industries including residential and non-residential construction. The major end-users are construction contractors, developers, and project owners.

Rising construction spending is expected to drive the growth of the modular and prefabricated buildings market. Apart from this, developers are looking reduce construction deadlines and decrease the cost of construction. This preference has led to the development of prefabricated and modular buildings, as buildings made in a factory environment utilize less labor and time for overall construction leading to both time and cost savings. Thus, this factor is expected to be a key growth driver for the market. The market currently gains a large portion of its revenue from the non-residential construction segment driven by robust growth due to economic prosperity in various regions. Additionally, significant growth in the development of the commercial construction segment propels the growth of this market in regions such as the Middle-East, Europe, Latin-America, and Asia-Pacific.

Wood is a preferred material for modular and prefabricated construction, because it is a recyclable material with comparable strength to concrete and has a lightweight nature that allows for easier installation. However, in Asia-Pacific and the Middle East, the material preference mimics traditional construction; a high volume of steel and concrete is used and is expected to be used during the forecast period.

The market is regulated by International Building Codes related to the construction of prefabricated and modular buildings. Relevant building materials are required to acquire a CE marking in Europe. There is an increasing trend for the construction industry to develop buildings using materials that promote sustainability and recyclability. As a result, building manufacturers are increasingly investing in product development to enhance environmental sustainability and product efficiency as end users are increasingly looking for products that are durable, sustainable, and regulatory-compliant.

The market is highly competitive among large, global manufacturers in the developed markets of North America and Europe; apart from internal competition, prefabricated manufacturers also face competition from traditional construction participants especially in regions where construction labor is cheap, thereby bringing down the whole cost of construction. The larger market participants increasingly engage in mergers and acquisitions and joint ventures among themselves and with small companies to acquire new products, technologies, and market shares due to which the market points towards further consolidation. Autodesk, a major design software firm, acquired a prefabricated building manufacturer, leading to the further propagation of Design for Manufacturing and Assembly (DfMA) trends in construction industry.

The market is also impacted by Mega Trends pertaining to the organizing of various events such as the World Expo 2020, Summer Olympics 2020, and the FIFA World Cup 2022, which drive infrastructure growth leading to the growth of modular and prefabricated construction.

Key Issues Addressed

  • What is the status of the modular and prefabricated buildings market lifecycle? How is it expected to grow through the forecast period?
  • What are the growth opportunities for the different market segments?
  • What are the key factors driving and restraining growth in this market?
  • What are the key technological developments observed across major segments?
  • What are the competitive factors affecting the market and how will the structure of the market change with time?

Table of Contents

Key Findings

Strategic Factsheet

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Geographic Scope

Key Questions this Study will Answer

Market Segmentation

Material Segmentation

Market Segmentation

Market Segmentation (continued)

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Restraints Explained (continued)

Market Overview

Market Engineering Measurements

Forecast Assumptions

Unit Shipment and Revenue Forecast

Unit Shipment and Revenue Forecast Discussion

Pricing Trends and Forecast

Pricing Trends and Forecast Discussion

Percent Unit Shipment Forecast by Region

Unit Shipment Forecast by Region

Percent Revenue Forecast by Region

Revenue Forecast by Region

Unit shipment and Revenue Forecast Discussion by Region

Percent Unit Shipment Forecast by Construction Type

Percent Unit Shipment Forecast Discussion by Construction Type

Percent Unit Shipment Forecast by Frame Type

Percent Unit Shipment Forecast Discussion by Frame Type

Key Materials Comparison

Percent Unit Shipment Forecast by Material Type

Percent Unit Shipment Forecast Discussion by Material Type

Percent Unit Shipment Forecast by Sub-type—Wood

Wood Applications in Buildings by Sub-type

Percent Unit Shipment Forecast by Sub-type—Steel

Steel Applications in Buildings by Sub-type

Percent Unit Shipment Forecast by Sub-type—Concrete

Concrete Applications in Buildings by Sub-type

Percent Unit Shipment Forecast by Sub-Type—Composites and Plastics

Percent Unit Shipment Forecast Discussion by Sub-Type—Composites and Plastics

Other Prefabrication materials

Value Chain

Value Chain Description

Key Technology Trends

Key Technology Trends (continued)

Regulations

Dynamic SWOT Analysis

Market Share

Competitive Environment

Notable Mergers & Acquisitions

Growth Opportunity 1—Robust Growth in Construction Activity in Asia-Pacific

Growth Opportunity 2—Skilled Labor Migration in Australia Driving Growth in Prefabrication Manufacturing

Growth Opportunity 3—Better Construction Timelines Leading to Higher Adoption Of Offsite Construction

Strategic Imperatives for Success and Growth

North America—Key Findings

North America—Market Engineering Measurements

North America—Unit Shipment and Revenue Forecast

North America—Unit Shipment and Revenue Forecast Discussion

North America—Percent Revenue Forecast by Country

North America—Percent Revenue Forecast Discussion by Country

North America—Percent Revenue Forecast Discussion by Country (continued)

North America—Percent Unit shipment Forecast by Frame Type

North America—Percent Unit shipment Forecast Discussion by Frame Type

North America—Percent Unit shipment Forecast by Material Type

North America—Percent Unit shipment Forecast Discussion by Material Type

North America—Percent Unit shipment Forecast by End Use Application

North America—Percent Unit shipment Forecast Discussion by End-use Application

North America—Competitive Environment

Europe—Key Findings

Europe—Market Engineering Measurements

Europe—Unit Shipment and Revenue Forecast

Europe—Unit Shipment and Revenue Forecast Discussion

Europe—Percent Revenue Forecast by Sub-region

Europe—Percent Revenue Forecast Discussion by Sub-region

Europe—Percent Revenue Forecast Discussion by Sub-region (continued)

Europe—Percent Unit Shipment Forecast by Frame Type

Europe—Percent Unit Shipment Forecast Discussion by Frame Type

Europe—Percent Unit Shipment Forecast by Material Type

Europe—Percent Unit Shipment Forecast Discussion by Material Type

Europe—Percent Unit Shipment Forecast by End Use Application

Europe—Percent Unit Shipment Forecast Discussion by End Use Application

Europe—Competitive Environment

Asia-Pacific—Key Findings

Asia-Pacific—Market Engineering Measurements

Asia-Pacific—Unit Shipment and Revenue Forecast

Asia-Pacific—Unit Shipment and Revenue Forecast Discussion

Asia-Pacific—Percent Revenue Forecast by Country

Asia-Pacific—Percent Revenue Forecast Discussion by Country

Asia-Pacific—Percent Revenue Forecast Discussion by Country (continued)

Asia-Pacific—Percent Revenue Forecast Discussion by Country (continued)

Asia-Pacific—Percent Revenue Forecast Discussion by Country (continued)

Asia-Pacific—Percent Revenue Forecast Discussion by Country (continued)

Asia-Pacific—Percent Unit shipment Forecast by Frame Type

Asia-Pacific—Percent Unit Shipment Forecast Discussion by Frame Type

Asia-Pacific—Percent Unit Shipment Forecast by Material Type

Asia-Pacific—Percent Unit Shipment Forecast Discussion by Material Type

Asia-Pacific—Percent Unit Shipment Forecast by End Use Application

Asia-Pacific—Percent Unit Shipment Forecast Discussion by End Use Application

Asia-Pacific—Competitive Environment

Rest of the World—Key Findings

Rest of the World—Market Engineering Measurements

Rest of the World—Unit Shipment and Revenue Forecast

Rest of the World—Unit Shipment and Revenue Forecast Discussion

Rest of the World—Percent Revenue Forecast by Sub-region

Rest of the World—Percent Revenue Forecast Discussion by Sub-region

Rest of the World—Percent Revenue Forecast Discussion by Sub-region (continued)

Rest of the World—Percent Revenue Forecast Discussion by Sub-region (continued)

Rest of the World—Percent Revenue Forecast Discussion by Sub-region (continued)

Rest of the World—Percent Unit Shipment Forecast by Frame Type

Rest of the World—Percent Unit Shipment Forecast Discussion by Frame Type

Rest of the World—Percent Unit Shipment Forecast by Material Type

Rest of the World—Percent Unit Shipment Forecast Discussion by Material Type

Rest of the World—Percent Unit Shipment Forecast by End Use Application

Rest of the World—Percent Unit Shipment Forecast Discussion by End Use Application

Rest of the World—Competitive Environment

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Abbreviations and Acronyms Used

Abbreviations and Acronyms Used (continued)

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
Modular or prefabricated buildings are made in a factory and installed later at a site, unlike traditionally-constructed buildings, which are built at the site itself. Major materials involved in the market are wood, concrete, steel, and plastics and composites. The modular and prefabricated building market is currently at a nascent stage when compared to traditional building construction; however, the market is developing rapidly and leading to increasing penetration of modular buildings within the construction sector. The market in this study is analyzed for end-industries including residential and non-residential construction. The major end-users are construction contractors, developers, and project owners. Rising construction spending is expected to drive the growth of the modular and prefabricated buildings market. Apart from this, developers are looking reduce construction deadlines and decrease the cost of construction. This preference has led to the development of prefabricated and modular buildings, as buildings made in a factory environment utilize less labor and time for overall construction leading to both time and cost savings. Thus, this factor is expected to be a key growth driver for the market. The market currently gains a large portion of its revenue from the non-residential construction segment driven by robust growth due to economic prosperity in various regions. Additionally, significant growth in the development of the commercial construction segment propels the growth of this market in regions such as the Middle-East, Europe, Latin-America, and Asia-Pacific. Wood is a preferred material for modular and prefabricated construction, because it is a recyclable material with comparable strength to concrete and has a lightweight nature that allows for easier installation. However, in Asia-Pacific and the Middle East, the material preference mimics traditional construction; a high volume of steel and concrete is used and is expected to be used during the forecast period. The market is regulated by International Building Codes related to the construction of prefabricated and modular buildings. Relevant building materials are required to acquire a CE marking in Europe. There is an increasing trend for the construction industry to develop buildings using materials that promote sustainability and recyclability. As a result, building manufacturers are increasingly investing in product development to enhance environmental sustainability and product efficiency as end users are increasingly looking for products that are durable, sustainable, and regulatory-compliant. The market is highly competitive among large, global manufacturers in the developed markets of North America and Europe; apart from internal competition, prefabricated manufacturers also face competition from traditional construction participants especially in regions where construction labor is cheap, thereby bringing down the whole cost of construction. The larger market participants increasingly engage in mergers and acquisitions and joint ventures among themselves and with small companies to acquire new products, technologies, and market shares due to which the market points towards further consolidation. Autodesk, a major design software firm, acquired a prefabricated building manufacturer, leading to the further propagation of Design for Manufacturing and Assembly (DfMA) trends in construction industry. The market is also impacted by Mega Trends pertaining to the organizing of various events such as the World Expo 2020, Summer Olympics 2020, and the FIFA World Cup 2022, which drive infrastructure growth leading to the growth of modular and prefabricated construction.--BEGIN PROMO--

Key Issues Addressed

  • What is the status of the modular and prefabricated buildings market lifecycle? How is it expected to grow through the forecast period?
  • What are the growth opportunities for the different market segments?
  • What are the key factors driving and restraining growth in this market?
  • What are the key technological developments observed across major segments?
  • What are the competitive factors affecting the market and how will the structure of the market change with time?
More Information
No Index No
Podcast No
Author Prathmesh Limaye
Industries Chemicals and Materials
WIP Number MED2-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9595,9870