Prefabricated Buildings Market is expected to grow with CAGR of 5.54% to become USD 36,083.2 million in Market Size by 2023
Prefabricated building architecture is a manufacturing process or an assembly site, in which various materials and building systems are combined to form a component or a part of larger onsite assembly or a building, where the structure is to be installed onsite, or installing the building system onsite.
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There is seen an increase in the global foreign direct investment (FDI) inflows. According to United States Economic and Social Commission for Asia and Pacific (UNESCAP), it was valued at USD 1.76 trillion in 2015. This amounted for 38% increase compared with 2014. The rise in FDI inflows was more prominent in developed economies, which received USD 962 billion in 2015, i.e. 84% more than in 2014. This along with FDI in retail has pushed the number of construction projects in the region. This induces the demand for prefabricated buildings market in the region.
The global prefabricated buildings market has been segmented based on product, module type, application, and region. Based on product, panel system accounted for the largest market share of 33.21% in 2016, and is projected to grow at the highest CAGR during the forecast period. On the basis of module type bathroom pods account for the largest market share in 2016. Based on application, commercial accounted for the largest market share with a market value of USD 36,083.2 million and is projected to grow at the highest CAGR during the forecast period.
The key players of global Prefabricated Buildings market are Red Sea Housing Services, Algeco Scotsman, Butler Manufacturing Company, Champion Home Builders, Inc., Astron Buildings, Kirby Building Systems LLC, Lindal Cedar Homes, Inc., Ritz-Craft Corporation, Modern Prefab Systems Pvt. Ltd., Par-Kut International Inc., United Partition Systems Inc. and others.
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Scope of the Report:
This study provides an overview of the global prefabricated buildings market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Prefabricated Buildings market by its voltage type, end-use and region
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