Global Prefabricated Building Market growing at a CAGR of 4.3% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Sep 2023
Key Market Overview
Consegic Business Intelligence analyzes that the prefabricated building market is predicted to grow at a compound annual growth rate of 4.3% from 2023 to 2031 and is expected to reach USD 266.64 billion in 2031 and 190.74 billion in 2023 which was valued at USD 184.47 billion in 2022.
The report highlights the growing demand for packaged food items, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the prefabricated building market.
Global Prefabricated Building Market By Overview
The prefabricated building market is bifurcated into material type, dimension, and end user. Based on material type, the market is segmented into metal and non-metal. In 2022, the metal segment dominated the overall prefabricated building market. Based on dimension, the market is segmented into skeleton, panel, cellular, and combined. In 2022, the panel segment dominated the overall prefabricated building market. Based on end user, the market is segmented into residential, commercial, and industrial. In 2022, the commercial segment dominated the overall prefabricated building market.
Get Free SampleMarket Dynamics
Driver:
- Government initiatives in the infrastructure and construction sector is driving the market growth.
- Increasing demand for modular construction is boosting market growth.
Restraints:
- High transportation issues serve as a major restraint for the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Material Type | Metal (Steel, Aluminium, and Others), Non-Metal (Concrete, Glass, Timber, Wood, and Others) |
| By Dimension | Skeleton, Panel, Cellular, and Combined |
| By End User | Residential, Commercial (Office, Hotels, Hospitals, and Others), and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as EPACK Prefab, Arthroto, and CertainTeed, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the prefabricated building market is expected to witness substantial growth in the coming years due to growing infrastructure investments in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- EPACK Prefab
- Arthroto
- CertainTeed
- Mighty Buildings
- Everest Industries Limited
- Satec Envir Engineering (India) Private Limited
- Balarka Fabricon Private Limited
- Astron Buildings
- Champion Home Builders
- Algeco Scotsman