Global Prefabricated Building System Market

Prefabricated Building System Market Size, Share, Growth Analysis, By Type(Modular Construction, Panelized Construction, and Hybrid Construction.), By Application(Residential Buildings, Commercial Buildings, Industrial Buildings, Institutional Buildings), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15F2056 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

Prefabricated Building System Market News

  • In March 2023, Balfour Beatty announced the acquisition of Contegra Industries, a leading provider of modular building solutions in the United States. This acquisition is said to strengthen Balfour Beatty's position in the prefabricated building systems market and expand its reach in the United States.
  • In February 2023, Skanska announced the opening of a new prefabrication plant in Sweden. This new plant is said to be one of the largest prefabrication plants in Europe and will be used to produce modular buildings for the Swedish market.
  • In January 2023, Lendlease announced the launch of its new prefabricated building system, called the Lend Lease Modular Building System. This new system is said to be faster and more sustainable than traditional construction methods.
  • In December 2022, Bouygues Construction announced the opening of a new prefabrication plant in France. This new plant is said to be one of the largest prefabrication plants in France and will be used to produce modular buildings for the French market.
  • In November 2022, China State Construction Engineering Corporation (CSCEC) announced the completion of its first prefabricated building project in the United States. This project is said to be a milestone for CSCEC in the US market and is expected to pave the way for more prefabricated building projects in the country.
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Prefabricated Building System Market size was valued at USD 11.9 billion in 2021 and is poised to grow from USD 12.55 billion in 2022 to USD 19.27 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

The market is marked by the presence of several key players, including manufacturers, suppliers, and construction companies specialising in prefabricated building systems. These companies operate on a scale and have established their presence in various regions to cater to the growing demand. They strive to differentiate themselves by offering a diverse range of prefabricated building systems, addressing different construction needs, and adhering to local building codes and regulations. 'Laing O'Rourke (UK)', 'Skanska AB (Sweden)', 'Bouygues Construction (France)', 'Katerra (US)', 'Lendlease Corporation (Australia)', 'Algeco (Luxembourg)', 'Cemex S.A.B. de C.V. (Mexico)', 'Red Sea International Company (Saudi Arabia)', 'Vinci SA (France)', 'Guangdong Keda Intelligent Decoration Co., Ltd. (China)', 'Modscape (Australia)', 'ACS Group (Spain)', 'Balfour Beatty plc (UK)', 'Cadolto Fertiggebäude GmbH & Co. KG (Germany)', 'Skender (US)', 'China State Construction Engineering Corporation (China)', 'NRB Inc. (Canada)', 'Elementum 3D (US)', 'Lindbäcks Bygg AB (Sweden)', 'Guerdon Modular Buildings (US)'

Prefabricated building systems provide ample opportunities for design flexibility and customization. Utilising advanced technologies like computer-aided design (CAD), architects and designers can create intricate and innovative structures. The modular nature of prefabricated components allows for easy customization, enabling versatile architectural designs that cater to specific project requirements.

Increasing Adoption of Sustainable Construction Practices: With growing awareness of environmental concerns and the need for sustainable development, there is a rising demand for prefabricated building systems that offer energy efficiency, reduced carbon footprint, and improved waste management. Manufacturers and construction companies are incorporating sustainable materials, such as recycled and low-impact resources, into prefabricated components. Additionally, the use of advanced design and construction techniques, including off-site fabrication and modular construction, minimises construction waste and on-site disruptions.

North America holds a significant market share in the prefabricated building system market. The region has a well-developed construction industry, advanced manufacturing capabilities, and a high adoption rate of modern construction practices. Factors such as rapid urbanisation, the need for sustainable and energy-efficient buildings, and the demand for faster construction processes have driven the dominance of North America in the market. Additionally, government initiatives promoting green buildings and the use of prefabricated construction methods have further bolstered the market growth in the region.

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Global Prefabricated Building System Market

Report ID: SQMIG15F2056

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