Global Multifamily Modular and Prefabricated Housing Construction Market Projected to Surpass $73.84 Billion by 2029 with 7.3% Annual Growth

How Are the key drivers contributing to the expansion of the multifamily modular and prefabricated housing construction market?
The multifamily modular and prefabricated housing construction market is expected to grow, and modular construction's multitude of benefits is seen as a significant contributing factor. Advantages such as cost-effectiveness, time-saving, minimization of material waste, efficient production line quality control, reduced impact on neighborhood surroundings, and enhanced construction safety are provided by modular and factory-made housing. For example, in 2023, it was reported by the US-based non-profit trade association serving non-residential modular construction, the Modular Building Institute, that modular construction accounted for an estimated 6.64% of new building starts, valuing around $14.6 billion in total project value. From an evaluation of the revenue data of 49 North American manufacturers, an average revenue of $23,474,970 per manufacturer was found, equating to 43% of the total value of projects using modular construction. Thus, the perks that come with modular and prefabricated construction are expected to attract global construction corporations towards this innovative construction approach, thereby boosting revenue growth in the multifamily modular and prefabricated housing construction market in the upcoming period.

Get Your Multifamily Modular and Prefabricated Housing Construction Market Report Here:
https://www.thebusinessresearchcompany.com/report/multifamily-modular-and-prefabricated-housing-construction-global-market-report

What growth opportunities are expected to drive the multifamily modular and prefabricated housing construction market's CAGR through 2034?
Recently, the market size for multifamily modular and prefabricated housing construction has witnessed significant growth. It is set to expand from a value of $52.12 billion in 2024 to $55.73 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the historical period include urbanization trends, cost efficiency, sustainability through green building practices, quick construction speeds, a shortage of housing, and population growth.

Over the coming years, the multifamily modular and prefabricated housing construction market is anticipated to experience significant expansion. It is projected to reach a value of $73.84 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 7.3%. The projected growth during the forecast period may be attributed to various factors such as rising urbanization and density, emphasis on cost-effective housing solutions, environmental mandates and an aim for net-zero objectives, robustness in the supply chain, and innovation in design and customization. Key trends during the forecast period include the rise of off-site construction and assembly, the growing importance of affordable housing solutions, the emergence of innovative materials and construction techniques, and a focus on building information modeling (BIM), and the use of modular construction for urban development.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5474&type=smp

What are the emerging trends shaping the future of the multifamily modular and prefabricated housing construction market?
Government policies across various nations that enforce the use of recyclable housing systems and value resource management are defining the expansion of the multifamily modular and prefabricated housing market. As stated on the website of the Building and Construction Authority (BCA), a governmental entity in Singapore, there is a directive from the Singaporean government requiring the implementation of the Prefabricated Prefinished Volumetric Construction (PPVC) acceptance framework at construction sites. PPVC producers and suppliers are directed to validate that their PPVC solutions and integrated bathrooms align with PPVC operational standards. Therefore, the thrust on eco-friendly buildings and modular homes from governmental bodies is predicted to stay as a crucial trend for the sector.

Which growth-oriented segments of the multifamily modular and prefabricated housing construction market are leading the industry's development?
The multifamily modular and prefabricated housing construction market covered in this report is segmented -

1) By Type: Permanent, Relocatable
2) By Material: Steel, Precast Concrete, Wood, Plastic, Other Materials

Subsegments:
1) By Permanent: Multi-Story Modular Apartments, Permanent Prefabricated Units, Infill Housing Units
2) By Relocatable: Temporary Housing Units, Relocatable Modular Homes, Site Offices and Temporary Accommodation Units

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5474

What regions are leading the charge in the multifamily modular and prefabricated housing construction market?
Asia-Pacific was the largest region in the multifamily modular and prefabricated housing construction market in 2024. Africa is expected to be the fastest-growing region in the global multifamily modular and prefabricated housing construction market share during the forecast period. The regions covered in the multifamily modular and prefabricated housing construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the multifamily modular and prefabricated housing construction market?
Major companies operating in the multifamily modular and prefabricated housing construction market include 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., Revolution Precrafted Properties Limited, Pine Grove Homes Inc., KLEUSBERG GmbH & Co. KG, Blokable Inc., New Era Building Systems Inc., nHouse Limited, PopUp House, Mod-U-Kraf Homes Inc., Stratford Homes LLC

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=5474&type=smp

What Is Covered In The Multifamily Modular and Prefabricated Housing Construction Global Market Report?

•Market Size Forecast: Examine the multifamily modular and prefabricated housing construction market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the multifamily modular and prefabricated housing construction market for a structured understanding.
•Key Players Overview: Analyze major players in the multifamily modular and prefabricated housing construction market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the multifamily modular and prefabricated housing construction market.
•Segment Contributions: Evaluate how different segments drive overall growth in the multifamily modular and prefabricated housing construction market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the multifamily modular and prefabricated housing construction market.
•Industry Challenges: Identify potential risks and obstacles affecting the multifamily modular and prefabricated housing construction market.
•Competitive Landscape: Review strategic developments in the multifamily modular and prefabricated housing construction market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.