Multifamily Modular and Prefabricated Housing Construction Market Trends That Will Shape the Next Decade: Insights from Key Trends Shaping The Multifamily Modular And Prefabricated Housing Market

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How Large Will the Multifamily Modular and Prefabricated Housing Construction Market Size By 2025?
There has been a marked growth in recent times in the size of the multifamily modular and prefabricated housing construction market. The market, which was estimated to be worth $52.12 billion in 2024, is projected to increase to $55.5 billion in 2025, representing a compound annual growth rate (CAGR) of 6.5%. Factors such as trends in urbanization, affordability and cost efficiency, sustainable and eco-friendly building practices, speed of construction, housing shortages, and population growth have all contributed to the considerable growth observed in the historical period.

How Big Is the Multifamily Modular and Prefabricated Housing Construction Market Size Expected to Grow by 2029?
Expectations are high for the multifamily modular and prefab housing construction market, as it is anticipated to experience robust expansion in the coming years. The market is predicted to increase to a value of $73.26 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. Several factors contribute to this anticipated growth in the timeframe, including heightened urbanization and density, a focus on the provision of affordable housing, compliance with environmental laws and targets for net-zero emissions, resilience in supply chain, and creativity in design and customization. Off-site construction and assembly, cost-effective housing solutions, advanced materials and building methods, and concentration on building information modeling (BIM) along with modular construction for urban growth are some of the prominent trends expected to emerge during the forecast period.

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Which Key Market Drivers Powering Multifamily Modular and Prefabricated Housing Construction Market Expansion and Growth?
The positives linked with the modular building approach are predicted to facilitate the expansion of the multifamily modular and prefab housing construction market. Multiple benefits are provided by modular and prefabrication such as saving on cost and time, minimizing material wastage, quality control on the assembly line, easing pressure on the site locality, and enhancing construction safety. For example, the Modular building institute, a US-based nonprofit trade group serving the non-residential modular construction industry, reported in 2023 that the modular sector accounted for roughly 6.64% of new construction starts, amassing a total project worth of about $14.6 billion. Statistical data gathered from 49 North American manufacturers presented an average income of $23,474,970 per manufacturer. This revenue constituted 43% of the whole value of projects that used modular construction. As a result, the perks associated with modular and prefab building are expected to raise the interest of multinational construction firms in modular housing construction, producing superior income for the expansion of the multifamily modular and pre-fabricated housing construction market in the forecasted period.

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What Long-Term Trends Will Define the Future of the Multifamily Modular and Prefabricated Housing Construction Market?
Actions taken by global governments to encourage the construction of environmentally-friendly buildings and reduce waste by enforcing the usage of modular and prefabricated systems is an influential trend driving the expansion of the multifamily modular and prefabricated housing market. The Building and Construction Authority (BCA), a government agency in Singapore, mentioned on their website that the Singaporean authorities have made it compulsory to employ the Prefabricated Prefinished Volumetric Construction (PPVC) acceptance framework at construction sites. PPVC providers and manufacturers are being asked to confirm that their PPVC systems and internal bathrooms adhere to PPVC performance specifications. Consequently, government efforts to endorse green buildings and apply modular housing will likely continue being a pivotal trend for the sector.

What Are the Emerging Segments in the Multifamily Modular and Prefabricated Housing Construction Market?
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

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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Multifamily Modular and Prefabricated Housing Construction Industry?
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.

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