Dublin, March 25, 2024 (GLOBE NEWSWIRE) -- The "Global Prefabricated Construction Industry Market Intelligence Databook Subscription - Q1 2024" report has been added to ResearchAndMarkets.com's offering.
With the conventional construction industry plagued by various macroeconomic factors and labor shortages, the demand for prefabricated construction has grown substantially. The trend is projected to further continue, as inflation will continue to put pressure on construction costs and material prices. In Europe, firms are expanding their manufacturing capacity to boost the supply of prefabricated homes in the region.
Similar trends are visible in the North American market, where firms are raising funding rounds to scale their operations to capitalize on the growing demand for prefabricated housing units. In the Middle East, data center developers are providing prefabricated facilities to meet the growing demand for cloud services in the region. In Asia Pacific, government organizations are adopting prefabricated materials to drive the rate of construction activities.
Factory-built homes are foreseen as the solution to the housing crisis in the European markets
With the shortage in the supply of affordable housing units, many European nations are foreseeing factory-built homes as the potential solution to reduce the demand and supply gap. Furthermore, as the demand for prefabricated housing units is projected to grow significantly over the next five years, firms are also raising funding rounds to scale their operations and launch new manufacturing facilities.
Ecoworks in Germany, TopHat, and ilke Homes in the United Kingdom are among the prefabricated construction firms that are seeking to expand their operations and launch new manufacturing facilities. Vision Modular Systems is another firm in the United Kingdom that has launched various residential construction projects in the country.
Sweden, Germany, and the United Kingdom are among the markets that are supporting the growth of the prefabricated industry in the European market. With energy prices soaring, coupled with rising inflation, the demand is forecast to grow in other European markets as well from the short to medium-term perspective.
UAE and KSA to lead the prefabricated construction market in the Middle East and Africa region
The prefabricated construction market is still in its early stages of development in the Emirates and the Saudi Arabian market. However, the two markets are projected to lead regional growth over the next five years, amid the growing shift and adoption of prefabricated construction practices.
In Saudi Arabia, for instance, luxury resorts that are being built, as part of the Red Sea project, will include prefabricated overwater and beach villas. In January 2023, Red Sea Global, the developer, also announced that the first batch of 73 prefabricated villas arrived at the site. The installation of these units, along with many more that are to come in the future, will keep supporting the growth of the prefabricated construction market in Saudi Arabia.
Furthermore, UAE-based construction developer, ALEC, also announced that the firm is expanding its ALEC Data Center Solution, the subsidiary firm that builds prefabricated facilities, in Saudi Arabia. The expansion is part of the strategy to capitalize on the growing demand for cloud services in the Middle East and Africa region.
Globally prefabricated construction startups are raising funding rounds to support their growth
With the demand for prefabricated construction expected to grow significantly over the next five years, firms around the world are raising funding rounds to scale their operations and support their growth.
- In the United States, for instance, Plant Prefab announced that the firm had raised US$42 million in a mix of debt and equity rounds in December 2022. The firm is planning to use the funding to boost its manufacturing capabilities.
- In the United Kingdom, ilke Homes also announced that the firm had raised £100 million in December 2022. Like Plant Prefab, ilke Homes is also planning to invest part of the funding towards the expansion of its manufacturing capabilities, thereby supporting its growth plans.
This report provides a detailed data-centric analysis of the prefabricated construction industry at Global and country level, covering market opportunity, and industry dynamics by prefabricated materials, methods, and products across various construction sectors. In addition, it provides market size and forecast of the prefabricated industry covering end markets along with demand analysis. With over 100 KPIs at the country level, this bundled offering provides comprehensive understanding of market dynamics at a more granular level.
Report Highlights
- In-depth Understanding of Prefabricated / Precast Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 50+ market segments at regional and country level.
- Deeper Segmentation of Prefabricated Product Analysis: Market size and forecast by prefabricated products, materials, product X materials, and product X construction sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in prefabricated / precast construction industry in the region and country.
- Comparable Data: Get detailed and comparable data for the prefabricated / precast market size. The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Report Scope
Precast Market Size and Forecast by Building Construction Sector
- Residential
- Single-Family
- Multi Family
- Commercial
- Office
- Retail
- Hospitality
- Other
- Institutional
- Industrial
Market Size and Forecast by Prefabrication Methods
- Panelised construction
- Modular (Volumetric) construction
- Hybrid (Semi-volumetric) construction
- By Prefabricated Material
- Aluminium
- Wood
- Iron & Steel
- Concrete
- Glass
- Other
Market Size and Forecast by Prefabricated Product
- Building Superstructure
- Roof Construction
- Floor Construction
- Interior Room Modules
- Exterior Walls
- Columns & Beams
- Other
Market Size and Forecast by Prefabricated Material X Product
- Aluminium (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Wood (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Iron & Steel (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Concrete (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Glass (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Other (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
Market Size and Forecast by Prefabrication Product X Construction Sector
- Residential (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Commercial (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Industrial (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Institutional (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
For more information about this report visit https://www.researchandmarkets.com/r/tfy0f1
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