The Single Family Modular And Prefabricated Housing Construction Global Market Report 2023 by The Business Research Company, provides single-family modular and prefabricated housing construction market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Single Family Modular And Prefabricated Housing Construction Global Market Report 2023, the global single-family modular and prefabricated housing construction market size will grow from $45.08 billion in 2022 to $47.17 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global single-family modular and prefabricated housing construction is expected to grow to $56.76 billion in 2027 at a CAGR of 4.7%.
The significant focus on cost savings is a key factor driving the growth of the single-family modular and prefabricated housing construction market. Modular design can minimise project deadlines by as much as 50% and costs by 20%. They lead to increased productivity and lower employment expenses associated with purchasing units along a production line. According to a report on modular construction in Europe and the US, the modular market value in new real-estate construction is expected to reach $130 billion by 2030, delivering an annual cost saving of $20 billion. Therefore, the significant cost savings are expected to drive the single-family modular and prefabricated housing construction market growth.
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Major Players:
- Red Sea Housing Services
- Skanska AB, Bouygues Construction
- ACS Actividades de Construcción y Servicios SA
- Lindal Cedar Homes Inc.
- Kiewit Corporation
The Single-Family Modular and Prefabricated Housing Construction market is segmented:
1) By Type: Permanent, Re-locatable
2) By Material: Steel, Wood, Concrete, Other Materials
3) By Application: Residential, Commercial, Industrial
The risks associated with transportation are a key factor impacting the growth of the single-family modular and prefabricated housing markets. As modules are prefabricated in a factory away from the worksite, they must either be transported specifically to the construction site or assembled in a surrounding venue and then set up. The transporters and operators must be extremely cautious with each module. If one fails during transportation, the entire module may require major repairs or replacements. So, it is necessary for transport and rigging businesses to make a serious effort to trace the routes and plan the mechanics to transfer the modules along their path. For instance, a construction project in Philadelphia had modular units arrive, positioned, and set relatively smoothly, but the interior drywall was cracked due to the raising of the modules.
The Single-Family Modular and Prefabricated Housing Construction market report table of contents includes:
1. Executive Summary
2. Single-Family Modular and Prefabricated Housing Construction Market Characteristics
3. Single-Family Modular and Prefabricated Housing Construction Market Trends And Strategies
4. Single-Family Modular and Prefabricated Housing Construction Market – Macro Economic Scenario
5. Single-Family Modular and Prefabricated Housing Construction Market Size And Growth
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26. Africa Single-Family Modular and Prefabricated Housing Construction Market
27. Single-Family Modular and Prefabricated Housing Construction Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Single-Family Modular and Prefabricated Housing Construction Market
29. Single-Family Modular and Prefabricated Housing Construction Market Future Outlook and Potential Analysis
30. Appendix
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