Dublin, May 14, 2021 (GLOBE NEWSWIRE) -- The "Single-Family Modular and Prefabricated Housing Construction Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global single-family modular and prefabricated housing construction market is expected to grow from $62.52 billion in 2020 to $79.61 billion in 2021 at a compound annual growth rate (CAGR) of 27.3%
Single-Family Modular and Prefabricated Housing Construction Global Market Report 2021: COVID-19 Growth and Change to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global single-family modular and prefabricated housing construction market.
Major players in the single-family modular and prefabricated housing construction market are Red Sea Housing Services, Skanska AB, Bouygues Construction, ACS Actividades de Construccion y Servicios SA, Lindal Cedar Homes Inc., Kiewit Corporation, Balfour Beatty Plc., Taisei Corporation, System House R & C Co. Ltd and Larsen & Toubro Limited.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $112.09 billion in 2025 at a CAGR of 9%.
The significant focus on cost savings is a key factor driving the growth of the single-family modular and prefabricated housing construction market. Modular design can minimize project deadlines by as much as 50% as well as costs by 20%. They lead to increased productivity, lower employment expenses associated with purchasing units along a production line.
According to a report on modular construction, in Europe and the US, the modular market value in new real-estate construction is expected to reach $130 billion by 2030 delivering an annual cost saving of $20 billion. Therefore, the significant cost saving is expected to drive the growth of the single-family modular and prefabricated housing construction market.
The risks associated with transportation is a key factor impacting the growth of the single-family modular and prefabricated housing construction market. As modules are prefabricated in a factory away from the worksite, they must either be transported specifically to the construction site or assembled in a surrounding venue and then set up.
The transporters and operators must be extremely cautious with each module, if one fails during transportation the entire module may require major repairs or replacements. So, it is necessary for transport and rigging businesses to make a serious effort to trace the routes and plan the mechanics to transfer the modules along their path. For instance, a construction project in Philadelphia had modular arrived, positioned, and set relatively smoothly but interior drywall was cracked due to the raising of the modules.
The single-family modular and prefabricated housing construction market covered in this report is segmented by type into permanent; re-locatable. It is also segmented by material into steel; wood; concrete; others and by application into residential; commercial; industrial.
In 2020, GS Engineering & Construction (E&C), a global construction company based in South Korea agreed to acquire Danwood SA, a wooden modular housing company in Poland for a deal amount of $155 million from an Enterprise investor. Through this acquisition, GS E&S plans to enter the European modular housing market by utilizing the strengthen, networks, and technology of Danwood SA. Danwood SA is a pioneer in wooden single-family houses.
Key Topics Covered:
1. Executive Summary
2. Single-Family Modular and Prefabricated Housing Construction Market Characteristics
3. Single-Family Modular and Prefabricated Housing Construction Market Trends and Strategies
4. Impact of COVID-19 on Single-Family Modular and Prefabricated Housing Construction
5. Single-Family Modular and Prefabricated Housing Construction Market Size and Growth
5.1. Global Single-Family Modular and Prefabricated Housing Construction Historic Market, 2015-2020, $ Billion
5.2. Global Single-Family Modular and Prefabricated Housing Construction Forecast Market, 2020-2025F, 2030F, $ Billion
6. Single-Family Modular and Prefabricated Housing Construction Market Segmentation
6.1. Global Single-Family Modular and Prefabricated Housing Construction Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Permanent
- Re-locatable
6.2. Global Single-Family Modular and Prefabricated Housing Construction Market, Segmentation By Material, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Steel
- Wood
- Concrete
- Others
6.3. Global Single-Family Modular and Prefabricated Housing Construction Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Residential
- Commercial
- Industrial
7. Single-Family Modular and Prefabricated Housing Construction Market Regional and Country Analysis
7.1. Global Single-Family Modular and Prefabricated Housing Construction Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Single-Family Modular and Prefabricated Housing Construction Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Red Sea Housing Services
- Skanska AB
- Bouygues Construction
- ACS Actividades de Construccion y Servicios SA
- Lindal Cedar Homes Inc.
- Kiewit Corporation
- Balfour Beatty Plc.
- Taisei Corporation
- System House R & C Co. Ltd
- Larsen & Toubro Limited
- Algeco Scotsman
- Skyline Champion Corporation
- Kirby Building Systems LLC
- Butler Manufacturing
- Astron Buildings
- Modular Engineering
- Niko Prefab Building Systems Pvt Ltd
- Par-Kut International
- Schulte Building Systems Inc.
- United Partition Systems Inc.
- Vardhman Pre-Engineered Building Systems
- Laing O'Rourke
- Palomar Modular Buildings
- Guerdon Enterprises LLC
- JL Modular Inc.
- Julius Berger Nigeria PLC
- Katerra
- Speed House Group of Companies
- Supertech Industries LLC
- Tempohousing
- Cavco Industries Inc
For more information about this report visit https://www.researchandmarkets.com/r/liufev