Increasing foreign direct investments (FDI) in India to drive India prefabricated buildings market during forecast period
According to TechSci Research report, “India Prefabricated Buildings Market – By Structure Type, By Material Type, By Unit Size, By System Type, By Application, Competition, Forecast & Opportunities, 2024”, India prefabricated buildings market is expected to grow at a steady CAGR during the forecast period owing to the increasing demand from the construction industry, especially the residential sector for new houses. Moreover, establishment of special economic zones (SEZs) and minimal wastage of materials is further expected to propel the market. Further, continuous infrastructural developments due to rapid industrialization, migration of citizens to urban areas, and supportive government policies are anticipated to fuel growth in the market over the next five years. However, technical issues associated with prefabrication, such as weak joints and poor thermal insulation performance can hamper the growth of market during the forecast period. Additionally, excessive regulations and lack of adoption of latest technologies can further restrict the growth of the market.
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India prefabricated buildings market is segmented based on structure type, material type, unit size, system type, application, region and company. Based on structure type, the market can be divided into assembled and non-assembled. The non-assembled segment is expected to dominate the market owing to the larger benefits of off-site construction. Additionally, factors such as accelerated project timelines, greater flexibility, more economical pricing, safer and greener construction technology, among others are further contributing to the demand for non-assembled segment. Based on material type, the market can be grouped into glass, concrete, steel, aluminum, timber, architecture structures and others. Steel is anticipated to hold the largest market share since it is eco-friendly, cost effective, requires less maintenance and is also sustainable. Further, steel buildings are customizable and strong. Based on system type, the market can be fragmented into skeleton system, panel system, cellular system and combined system. The skeleton system is expected to dominate the market on account of its economic viability and cost effectiveness.
Angath Exterior & Interior, Primex Building Systems Pvt. Ltd., Stelloid Infrastructure Pvt. Ltd., Multicolor Steels India Pvt Ltd, BNAL Prefabs Pvt. Ltd., The Octamec Group, Rapid Prefab Constructions (India) Pvt. Ltd., E-Pack Polymers Pvt. Ltd., Supertech (India) Pvt. Ltd., S. SHAHA & CO. and others are some of the leading players operating in India prefabricated buildings market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“India prefabricated buildings market is expected to grow during the forecast period on account of the growing residential and industrial activities and rising demand for prefabricated building systems. Additionally, heavy investments in infrastructural development coupled with growing inclination towards remote workforce accommodation administration structures and safe portable storage solutions are likely to open new opportunities for prefabricated building market in India.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Prefabricated Buildings Market By Structure Type, By Material Type, By Unit Size, By System Type, By Application, Competition, Forecast & Opportunities, 2024”, has evaluated the future growth potential of India prefabricated buildings market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India prefabricated buildings market.
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