Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Global Prefabricated Construction Industry Business and Investment Opportunities Databook - 100+ KPIs, Market Size & Forecast by End Markets, Precast Products, and Precast Materials - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
This market intelligence report provides a detailed view of market opportunities in the prefabricated building construction industry at Global and country level. With over 100+ KPIs, covering end markets, prefabricated/precast materials, and products at country level, this databook offering primarily provides data-centric analysis with charts and tables.
The global prefabricated construction market is poised for strong growth over the medium term. Many global firms are expanding their presence in the international market to tap into the high-growth sector in 2024. Module-T, for instance, launched its first warehouse in southern France in October 2023 and is planning to expand in the North American region in 2024.
Firms are also entering into strategic partnerships to share technology and manufacturing processes. This is part of the strategy to develop new projects in the global markets through collaboration with traditional construction firms. These strategic partnerships are expected to drive the competitive landscape in 2024. Overall, the publisher maintains a positive growth outlook for the global prefabricated construction industry over the next three to four years.
Prefabricated construction firms are planning to expand their international presence in 2024
With the global market poised to record strong growth over the medium term, due to rising demand for prefabricated solutions, firms are planning to expand their geographical presence in 2024.
- Module-T, one of the leading manufacturers of prefabricated containers known for its portable cabins, launched its first warehouse in southern France in October 2023. The Turkish firm seeks to strengthen its presence in the French market and speed up monobloc road shipments across Europe with this new facility.
- The firm produces 12,000 portable cabins and prefabricated modular containers each year. Module-T also specializes in creating and furnishing standalone prefabricated homes, bungalows, and vacation residences. The firm aims to achieve a turnover of US$45 million by 2025.
The firm also seeks to benefit from the 2024 Summer Olympics in Paris. Module-T is providing living quarters, WC-shower facilities, and office containers for worker accommodations. In addition to the European market, the firm is also planning to expand its presence in the North American region over the medium term.
Firms are forging strategic alliances to share technology and manufacturing processes in 2024
Elements Europe, the United Kingdom-based volumetric modular construction firm, entered into a strategic partnership with South Korean housing developer in December 2023. The collaboration is part of the strategy to help Gyeonggi Housing and Urban Development Corporation (GHUDC) develop its high-rise modular technology. Elements Europe, notably, is a subsidiary of GS Engineering and Construction. The Korean contractor has a 75% stake in the UK-based firm.
- In the United Kingdom, Elements Europe is currently building a 23-storey hotel on East Road in Shoreditch, London, which is expected to be finished by the second half of 2024. Furthermore, the offsite modular specialist is also delivering a 550-home build-to-rent project called Smith's Garden in Birmingham. The 1,143 modules required for this project will be manufactured in Telford from November 2023 to January 2025.
- In addition to sharing technology and manufacturing processes, global firms are also collaborating to develop and distribute modular homes in the United States. ABJA Ohana LLC, in December 2023, entered into a strategic alliance with TLC Modular Construction LLC, the Vietnam-based factory-built housing provider. Under the alliance, ABJA Ohana LLC has secured an exclusive distribution agreement.
The two firms have partnered to develop, market, and distribute premium quality homes and apartment buildings in the United States. The two firms, notably, will operate as TLC Modular USA Inc. The firm has announced that it has received more than US$24 million in orders for 2024. These orders include a 58-unit apartment building in Honolulu, Hawaii, 169 single-family homes in Riverside, California, and 121 units in Desert Hot Springs, California.
Housing crisis is expected to drive investment in the Australian prefabricated construction industry in 2024
To tackle the housing crisis, Australia has agreed to build 1.2 million new homes over the next five years. However, the ambitious target is threatened due to the shortage of construction workers. The shortage of skilled labor has also resulted in project delays.
- To tackle these problems, including labor shortages and project delays, developers are now trailing prefabricated construction methods. This is part of their strategy to fast-track housing supply in Australia in 2024 and beyond. Housing giant Mirvac, following the lead of Scandinavian countries, is trailing the technology in Australia. The firm has been able to reduce the construction times of new units to 12 weeks.
Other firms are seeking to expand their production capacity to deal with the substantial housing shortfall in Australia. Evoke Living Homes, for instance, announced that the firm has set up a factory at Northam in the Wheatbelt region in April 2024. For this, the firm received the assistance of A$200,000 under the Regional Economic Development grant from the state. With the expanded production facility, the firm will be able to increase the manufacturing by 20%, while cutting down on construction delays.
This title is a bundled offering, combining the following 20 reports (1620 tables and 1960 charts):
- Australia Prefabricated Construction Industry Databook
- Brazil Prefabricated Construction Industry Databook
- China Prefabricated Construction Industry Databook
- France Prefabricated Construction Industry Databook
- Germany Prefabricated Construction Industry Databook
- India Prefabricated Construction Industry Databook
- Indonesia Prefabricated Construction Industry Databook
- Mexico Prefabricated Construction Industry Databook
- Nigeria Prefabricated Construction Industry Databook
- Philippines Prefabricated Construction Industry Databook
- Qatar Prefabricated Construction Industry Databook
- Russia Prefabricated Construction Industry Databook
- Saudi Arabia Prefabricated Construction Industry Databook
- Singapore Prefabricated Construction Industry Databook
- South Africa Prefabricated Construction Industry Databook
- Turkey Prefabricated Construction Industry Databook
- United Arab Emirates Prefabricated Construction Industry Databook
- United Kingdom Prefabricated Construction Industry Databook
- United States Prefabricated Construction Industry Databook
- Vietnam Prefabricated Construction Industry Databook
Scope
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.
Precast Market Size and Forecast by Building Construction Sector, 2019-2028
- Residential
- Single-Family
- Multi Family
- Commercial
- Office
- Retail
- Hospitality
- Other
- Institutional
- Industrial
Market Size and Forecast by Prefabrication Methods, 2019-2028
- 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, 2019-2028
- Building Superstructure
- Roof Construction
- Floor Construction
- Interior Room Modules
- Exterior Walls
- Columns & Beams
- Other
Market Size and Forecast by Prefabricated Product, 2019-2028
- 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 Construction Sector, 2019-2028
- 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/prohz4
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