Key Players in Single-Family Modular and Prefabricated Housing Construction Market Capitalizing on Growing Demand for Sustainable Housing Solutions - Red Sea Housing Services, Skanska AB, Bouygues Construction

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%. The growth in the forecast period can be attributed to sustainability and energy efficiency, customization and design flexibility, smart home integration, urbanization and compact living. Major trends in the forecast period include sustainability and green building, design and customization, technology integration, shortened construction timelines.

Market Overview -
Single-family modular and prefabricated housing construction is the process of building, altering, repairing, improving, or demolishing any single-family residential building or structure developed off-site using the same resources and constructing the same codes and specifications as conventionally designed structures but in about half the time.

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Cost-Effective Building Solutions Fueling Growth In Single-Family Modular And Prefabricated Housing Construction
The significant focus on cost savings is a key factor driving the growth of the single-family modular and prefabricated housing construction market. Modular design can minimise project deadlines by as much as 50% and costs by 20%. They lead to increased productivity and lower employment expenses associated with purchasing units along a production line. According to a report on modular construction in Europe and the US, the modular market value in new real-estate construction is expected to reach $130 billion by 2030, delivering an annual cost saving of $20 billion. Therefore, the significant cost savings are expected to drive the single-family modular and prefabricated housing construction market growth.

Competitive Landscape -
Major companies operating in the single-family modular and prefabricated housing construction market include Red Sea Housing Services, Skanska AB, Bouygues Construction, ACS Actividades de Construcción y Servicios SA, Lindal Cedar Homes Inc., Kiewit Corporation, Balfour Beatty Plc., Taisei Corporation, System House R & C Co. Ltd, Larsen & Toubro Limited, Algeco Scotsman, Skyline Champion Corporation, Kirby Building Systems LLC, Butler Manufacturing, Astron Buildings, Modular Engineering, Niko Prefab Building Systems Pvt Ltd, Par-Kut International, Schulte Building Systems Inc., United Partition Systems Inc., Vardhman Pre-Engineered Building Systems, Laing O'Rourke, Palomar Modular Buildings, Guerdon Enterprises LLC, JL Modular Inc., Julius Berger Nigeria PLC, Katerra, Speed House Group of Companies, Supertech Industries LLC, Tempohousing, Cavco Industries Inc, Lendlease, Clayco, Suffolk Construction, DPR Construction, PCL Construction Enterprises, Walsh Group, BL Harbert, Level 10 Construction, Austin Commercial, James G. Davis Construction, Turner Construction Co., Clark Group, AECOM, Hensel Phelps, Holder Construction, Whiting-Turner Contracting Co., Gilbane Building Co., Structure Tone, Webcor Builders, Power Construction, Consigli Building Group, McCarthy Holdings, Hoffman Construction, Brasfield & Gorrie, Mortenson Const

Revolutionizing Prefabricated Construction In Building Information Modeling (BIM)
Implementation of Building Information Modeling (BIM) in modular construction is an emerging trend in the single-family modular and prefabricated housing construction market. Building Information Modeling (BIM) is a revolutionary technique for designing, building, and managing construction models. This 3D model-based technology provides a digital representation of a building's physical and functional qualities. The technology enables all parties engaged in the built asset's creation and lifespan management to share data and collaborate. During the pre-construction phase, BIM provides specialists with a 3D picture of the structure. It allows specialists to detect potential incompatibilities in mechanical, electrical, and plumbing (MEP) systems and address them at an early stage. For instance, in October 2021, AGACAD, a Lithuania-based software company, launched Panel Packer based on 3D technology. In Autodesk Revit, Panel Packer is a sophisticated tool for organizing the sorting, packing, and loading of prefabricated construction components.

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Key Segments -

The single-family modular and prefabricated housing construction market covered in this report is segmented -

1) By Type: Permanent, Re-locatable
2) By Material: Steel, Wood, Concrete, Other Materials
3) By Application: Residential, Commercial, Industrial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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