5 December 2019 - Global Prefabricated
Construction Market is
anticipated to witness a massive growth with a staggering CAGR in the forecast
period. Precisely, prefabrication is nothing but the practice of accumulating
and assembling all the required components in a factory and then transporting
all of them to the construction site where the structure is to be located.
The
market is majorly growing because there is an immense surge in the
infrastructural developmental activities and constructions globally. After long
despair in the prefabricated construction market, the number of new
constructions in numerous developed and emerging countries has increased
tremendously and the market has come into a major hype again. But, there are
countries where the labors do not hold the potential and skill resulting in a
poor infrastructure. This is one of the foremost restraining factor, which is
impeding the growth of the market.
Yet,
the prefabricated construction market is estimated to experience tremendous
growth in the forthcoming years as there is a huge demand for low-cost
residential units. This gives striking unconventional solutions to architects
and engineers to meet the expanding demand for reasonable housing. The other
reasons that will help this market to develop in future are building criteria
in terms of high quality of work, reduced weight of the upper structure, cost
efficiency and construction speed. The influence of all these factors are
currently adequate but are likely to surge soon during the forecast period.
The
market is segmented on the basis of product type (columns & beams, floors
& roofs, walls, staircases, girders, paving slabs); by end user
(residential, non-residential); by construction type (modular construction,
manufactured homes) and region (North America, Europe, Asia Pacific and LAMEA).
Geographically,
Asia Pacific has been generating the maximum revenue and holds the largest
market share of the prefabricated construction industry and is estimated to
dominate the market even in the near future. The reason behind Asia Pacific’s
domination is the upsurge in urbanization and infrastructural development in
some its countries such as India, Indonesia and China. Followed by this, Europe
is the second region that is expected to witness a decent growth in the market
during the forecast period. In the near future, market will continue to come up
with new product innovations to attract new consumers and investors, for them
to continue the domination.
“Smart
City’ is one of the major trends in the market as it provides a proficient and
maintainable environment within the buildings. This concept has gained great
popularity in developed and developing regions because smart cities have the
potential to optimize energy very efficiently.
Some
of the major key vendors of the prefabricated construction market are Taisei
Corporation, Balfour Beatty plc, Komatsu Ltd, Red Sea Housing Services, Kiewit
Corporation, Julius Berger Nigeria Plc, Bouygues Construction, Larsen &
Toubro Limited, Laing O’Rourke and ACS Group. Other minor key players in this
market are Spiroll Precast Services Ltd., Weckenmann Anlagentechnik GmbH &
Co. KG, Putzmeister Holding, Elematic Inc. and EBAWE. All the leading companies
are including mergers and acquisitions, partnerships and joint ventures to
enhance the growth of the market efficiently.
Market Segment:
Leading players of Prefabricated
Construction including:
•
Grupo ACS
•
Balfour Beatty PLC
•
Komatsu Ltd.
•
Bouygues Construction
•
Julius Berger Nigeria PLC.
•
Red Sea Housing Services
•
Taisei Corporation
•
Kiewit Corporation
•
Laing O'rourke
•
L&T India
Market split by Type, can be divided
into:
•
Modular Construction
•
Manufactured Homes
•
Others
Market split by Application, can be
divided into:
•
Residential
•
Non-residential
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