Prefabricated Construction Market Trends

Growth Drivers

It reduces the time of construction by 20-30%.
The method is cost effective as on-site construction requires less labour.
It produces lower amount of waste products.

Challenges

The process of prefabrication possess variety of risks which includes damaged delivery of goods, untimely delivery and expensive transportation.
Occurrence of disconnection between manufacturer and architect by making parts off-site instead of in-site.

Prefabricated Buildings Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	6.9%
Base Year Market Size (2023)	USD 151.34 billion
Forecast Year Market Size (2036)	USD 360.3 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

It reduces the time of construction by 20-30%, the method is cost effective as on-site construction requires less labour and it produces lower amount of waste products.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

The process of prefabrication possess variety of risks which includes damaged delivery of goods, untimely delivery and expensive transportation and occurrence of disconnection between manufacturer and architect by making parts off-site instead of in-site.

The market in Asia Pacific region will provide ample growth opportunities owing to the industrial investment.

The major players dominating the market are Forcepoint, Akamai Technologies, Centrify, Symantec, Palo Alto Networks, Cisco Systems, Sophos Group, Microsoft, Fortinet, IBM, Check Point Software Technologies, Cyxtera Technologies, Okta, Trend Micro Incorporated, and Cloudflare.

Prefabricated Construction Market Trends