Innovation Unveiled: Emerging Trends in Single-Family Modular and Prefabricated Housing Construction Market with Building Information Modeling (BIM)

The Business Research Company presents an extensive market research report on the "Single-Family Modular And Prefabricated Housing Construction Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the single-family modular and prefabricated housing construction industry. This report on single-family modular and prefabricated housing construction market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The single-family modular and prefabricated housing construction market size has grown steadily in recent years. It will grow from $47.17 billion in 2023 to $49.35 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to cost efficiency, quality control, housing shortages, technological advances. The single-family modular and prefabricated housing construction market size is expected to see steady growth in the next few years. It will grow to $59.51 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.

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Key Market Players:
Red Sea Housing Services, Skanska AB, Bouygues Construction, ACS Actividades de Construcción y Servicios SA are prominent players in the single-family modular and prefabricated housing construction industry.

Market Drivers:
According to the Single-Family Modular And Prefabricated Housing Construction Market Report 2023 by The Business Research Company, the key factors driving the growth of the single-family modular and prefabricated housing construction market, includes the growing demand for residential housing. Residential housing is defined as structures or buildings that are primarily constructed or designed for living purposes. Residential housing plays a main role in defining the development and evolution of the single-family modular and prefabricated home construction sector, which is forced by consumer demand for inexpensive, sustainable, and adaptable housing options. For instance, in June 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, US-based government administrations, in May 2023, privately owned home starts were occurring at a seasonally adjusted annual pace of 1,631,000, representing a 21.7% increase over the revised April 2023 prediction of 1,340,000 and a 5.7% increase over the May 2022 rate of 1,543,000.

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Market segments for single-family modular and prefabricated housing construction include:
1) By Type: Permanent, Re-locatable

2) By Material: Steel, Wood, Concrete, Other Materials

3) By Application: Residential, Commercial, Industrial

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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