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Multifamily Modular and Prefabricated Housing Construction Market: Exploring a Forecast Growth to $73.84 Billion by 2029
Multifamily Modular and Prefabricated Housing Construction Market Size
What Is The Projected Market Size Of The Global Multifamily Modular and Prefabricated Housing Construction Market And Its Growth Rate?
• The market is anticipated to grow from $52.12 billion in 2024 to $55.73 billion in 2025, demonstrating a CAGR of 6.9%.
• This past growth has been driven by factors such as urbanization trends, affordability, cost efficiency, and green building practices.
• The market is projected to reach $73.84 billion in 2029, with a CAGR of 7.3%.
• The future growth is expected to be influenced by increased urbanization and density, affordable housing solutions, environmental regulations, and innovation in design.
What Is Driving The Growth In The Multifamily Modular and Prefabricated Housing Construction Market?
A significant growth driver in the multifamily modular and prefabricated housing construction market is the advantages offered by modular construction. These benefits include cost and time savings, reduced material wastage, assembly-line quality control, and enhanced construction safety. The 2023 data from Modular building institute shows the modular industry accounted for about 6.64% of new construction starts. Therefore, these advantages are expected to enhance the focus of construction companies on modular housing construction, generating higher revenue for the growth of the market during the forecast period.
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Who Are the Key Players Driving Multifamily Modular and Prefabricated Housing Construction Market Growth?
• Laing O'Rourke
• ATCO Ltd.
• Algeco UK Limited
• Ritz-Craft Corporation
• Red Sea International Company
• Pleasant Valley Homes Inc.
• Connect Homes LLC
• Kiss House
• Marlette Homes Inc.
• Guerdon LLC
• Northstar Systembuilt Inc.
• Cube Haus
• Blu Homes Inc.
• Plant Prefab Inc.
• Simplex Homes Inc.
What Are The Key Trends In The Multifamily Modular and Prefabricated Housing Construction Market?
• Off-site construction and assembly
• Affordable housing solutions
• Innovative materials and construction techniques
• Building Information Modeling (BIM)
• Modular construction for urban development.
What Are The Segments Of The Global Multifamily Modular and Prefabricated Housing Construction Market?
• By Type: Permanent, Relocatable .
• By Material: Steel, Precast Concrete, Wood, Plastic, Other Materials
Which Region Leads The Multifamily Modular and Prefabricated Housing Construction Market?
In 2024, Asia-Pacific was the largest region in the multifamily modular and prefabricated housing construction market. However, Africa is expected to be the fastest-growing region globally during the forecast period.
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What Is Covered In The Multifamily Modular and Prefabricated Housing Construction Market Global Market Report?
Market Size Analysis: Analyze the Multifamily Modular and Prefabricated Housing Construction Market size by key regions, countries, product types, and applications.
Market Segmentation Analysis: Identify various subsegments within the Multifamily Modular and Prefabricated Housing Construction Market for effective categorization.
Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
Market Contribution: Evaluate contributions of different segments to the overall Multifamily Modular and Prefabricated Housing Construction Market growth.
Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
Industry Challenges: Analyze challenges and risks affecting the Multifamily Modular and Prefabricated Housing Construction Market.
Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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