Press release
Prefabricated Buildings Market is Projected to Hit USD 231.91 Billion at a 6.85% CAGR by 2030
Prefabricated Buildings Market
The global construction industry is undergoing a significant transformation, driven by the increasing adoption of prefabricated buildings. Prefabrication, or off-site construction, involves the assembly of building components in a factory setting before transporting them to the construction site for final assembly. This method offers numerous advantages, including reduced construction time, cost efficiency, improved quality control, and sustainability. As urbanization accelerates and the demand for affordable housing rises, the prefabricated buildings market is experiencing robust growth.
Prefabricated Buildings Market [https://www.marketresearchfuture.com/reports/prefabricated-buildings-market-5171] Size was valued at USD 136.5 billion in 2021. The Prefabricated Buildings industry is projected to grow from USD 145.85 Billion in 2022 to USD 231.91 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.85% during the forecast period (2022 - 2030).
Key Drivers of Market Growth
* Urbanization and Population Growth: The global population is increasingly concentrated in urban areas, leading to a surge in demand for residential, commercial, and industrial buildings. Prefabricated buildings offer a viable solution to meet this demand quickly and efficiently.
* Affordable Housing: Governments and private developers are turning to prefabrication to address the global housing crisis. Prefabricated buildings can be produced at a lower cost and in less time than traditional construction, making them an attractive option for affordable housing projects.
* Sustainability: Prefabricated buildings are often more environmentally friendly than traditional construction. The controlled factory environment reduces waste, and the materials used are often more sustainable. Additionally, the energy efficiency of prefabricated buildings is typically higher, contributing to lower carbon footprints.
* Technological Advancements: Innovations in building information modeling (BIM), 3D printing, and modular construction techniques are enhancing the efficiency and capabilities of prefabricated buildings. These technologies allow for greater customization, precision, and scalability.
* Labor Shortages: The construction industry is facing a shortage of skilled labor, which has led to increased costs and project delays. Prefabrication mitigates this issue by reducing the reliance on on-site labor and streamlining the construction process.
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List of the Key Companies in the Prefabricated Buildings market include
* Lindal Cedar Homes Inc
* Red Sea Housing Services
* Astron Buildings
* United Partition Systems
* Butler Manufacturing Company
* Ritz-Craft Corporation
* Champion Home Builders
* Kirby Building Systems LLC
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Prefabricated Buildings Market Segmentation
Prefabricated Buildings Product Outlook (USD Million, 2018-2030)
* Skeleton system
* Panel system
* Cellular system
* Combined system
Prefabricated Buildings Product Outlook (USD Million, 2018-2030)
* Bathroom pods
* Kitchenette
* Others
Prefabricated Buildings Application Outlook (USD Million, 2018-2030)
* Industrial
* Commercial
* Residential
Browse the Complete Report: https://www.marketresearchfuture.com/reports/prefabricated-buildings-market-5171
Company News
* Laing O'Rourke: Laing O'Rourke, a leading international engineering and construction company, has recently announced a significant investment in its off-site manufacturing capabilities. The company is expanding its factory in the UK to increase production capacity for modular buildings. This move is part of Laing O'Rourke's strategy to position itself as a leader in the prefabricated buildings market.
* Skanska: Skanska, a global construction [https://www.marketresearchfuture.com/reports/construction-market-16065] and development company, has partnered with a leading technology firm to develop smart prefabricated buildings. The collaboration aims to integrate IoT devices and energy management systems into prefabricated buildings to enhance their efficiency and sustainability.
* Katerra: Katerra, a technology-driven construction company, has been making waves in the prefabricated buildings market with its innovative approach to modular construction. The company recently announced the completion of a large-scale residential project in the United States, showcasing the potential of prefabricated buildings to deliver high-quality housing quickly and efficiently.
* Red Sea Housing: Red Sea Housing, a leading provider of modular buildings, has secured a major contract to supply prefabricated buildings for a large infrastructure project in the Middle East. The contract underscores the growing demand for prefabricated buildings in the region and highlights Red Sea Housing's position as a key player in the market.
* Bouygues Construction: Bouygues Construction has launched a new line of sustainable prefabricated [https://www.marketresearchfuture.com/reports/prefabricated-construction-market-25798] buildings designed to meet the highest environmental standards. The company's new product line includes residential, commercial, and institutional buildings that are energy-efficient and made from sustainable materials.
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