The global prefabricated building market size was US$ 161.1 billion in 2021. The global prefabricated building market is forecast to reach US$ 301.9 billion by 2030, registering a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The global prefabricated building market is forecast to gain traction, owing to the growing infrastructure development and steeply rising residential and commercial sectors globally.

Growing awareness about the negative effects of construction waste on the environment is likely to boost the concept of green building. As a result, it will fuel the growth of the global prefabricated building market during the study period.

The permanent modular construction of the prefabricated building saves time and labor costs. As a result, the cost-efficiency of the prefabricated building construction is likely to bolster the market growth during the forecast period.

Rapid urbanization and technological advancements will be important prospects for the prefabricated building market. In addition, the benefits of prefabricated construction over traditional construction methods are forecast to boost the growth of the global prefabricated building market.

Growing population combined with increasing disposable income are forecast to benefit the global prefabricated building market during the study period.

COVID-19 Impact Analysis

The COVID-19 outbreak has had a significant influence on the prefabricated building industry. Due to the pandemic, the construction segment witnessed significant loss in the past few years. The global economy witnessed various challenges due to lockdown restrictions. Construction companies suffered a considerable loss as a result of the governments imposed lockdown and travel restrictions. Thus, all of this had a negative impact on the global prefabricated building market.

Regional Analysis

North America is forecast to hold the highest share in the global prefabricated building market. The growth of the market is attributed to the increasing government initiatives towards eco-friendly construction. In addition, Asia-Pacific, followed by Europe, is forecast to register significant growth, owing to the growing urban population and increasing number of construction activities. In addition, rising awareness about green building and favorable government initiatives are forecast to drive the growth of the prefabricated building market during the study period.

Competitors in the Market

Abtech
Alta-Fab Structures
Art's Way Manufacturing
Astron
Champion Home Builders
CIMC Modular Building Systems Holding
Clayton Homes, Inc.
DuBox
Fleetwood Australia
Guerdon Modular Buildings
Hickory Group
Horizon North Logistics
Katerra
Kirby Building Systems
Kleusberg GmbH & Co. KG
KOMA Modular
Laing O'Rourke
Lendlease Corporation
Lindal Cedar Homes
Modern Prefab
Modular Engineering
Niko Prefab Building Systems Pvt. Ltd.
Other Prominent Players
Market Segmentation

The global prefabricated building market segmentation focuses on Type, Material, Application, and Region.

Based on Type

Skeleton
Panel
Cellular
Combined
Others
Based on Material

Steel
Concrete
Wood
Based on Application

Residential
Non-Residential
Based on region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America