The value of the prefabricated buildings market will reach $51.3 billion by 2032, says Global Market Insights Inc.

The major players in the prefabricated buildings market include Astron, ATCO Ltd., BlueScope Steel Ltd, Cornerstone Building Brands, Inc., Everest Industries, Interarch Building Products Pvt. Ltd, Nucor Corporation, PEBS Pennar, Zamil Steel Building and PEBS Pennar.

Selbyville, Del., June 17, 2024 (GLOBE NEWSWIRE) —

The prefabricated buildings market size will exceed $51.3 billion by 2032, the report said. research conducted by Global Market Insights Inc.

The growing demand for cost-effective and time-efficient construction solutions is driving the demand for prefabricated buildings (PEBs) as they offer faster construction times and lower costs compared to traditional methods. The growing emphasis on sustainable and energy-efficient construction practices is accelerating the adoption of PEBs, which are designed for optimal use of resources and minimal environmental impact.

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According to the Associated General Contractors of America, the U.S. construction sector produces $2.1 trillion worth of construction each year. The trend of increasing spending on the construction of buildings and skyscrapers will accelerate the demand in the prefabricated buildings market. Growing industrial and commercial sectors, particularly in emerging economies, continue to drive demand for versatile and scalable construction solutions. Significant advancements in construction materials and technology, such as improved steel and design software that enhance the durability and customization capabilities of PEB, will further drive market growth.

It is estimated that the multi-story construction segment in the prefabricated buildings market will experience significant growth in the years 2024–2032. The growing demand for urban commercial and residential spaces requires efficient and scalable building solutions. PEBs offer significant time and cost savings in multi-story structures compared to traditional methods. Breakthrough advances in structural engineering and materials are improving the safety, durability and adaptability of multi-story PEB buildings, making them an attractive option for developers and builders.

The story continues

It is estimated that the market size of prefabricated buildings in the residential segment will grow at a significant pace in 2024–2032. The growing demand for affordable and quick housing solutions is driving the adoption of PEBs due to their cost-effectiveness and short construction time. The flexibility and customization options offered by PEB attract homeowners looking for personalized and energy-efficient designs. Innovative developments in construction materials and techniques further complement the aesthetics and structural integrity of residential PEB, driving the growth of this segment.

The European prefabricated buildings market size is expected to grow significantly by 2032 due to the growing demand for cost-effective and energy-efficient construction solutions. Strict building codes and sustainability standards are driving the adoption of PEB due to its quick construction and reduced environmental impact. The growing industrial and commercial sectors, as well as the growing demand for affordable housing, are accelerating product implementation. Significant advances in construction materials and technology are also increasing the attractiveness and functionality of prefabricated buildings, contributing to the growth of the regional market.

The leading companies operating in the prefabricated building market include: Astron, ATCO Ltd., BlueScope Steel Ltd, Cornerstone Building Brands, Inc., Everest Industries, Interarch Building Products Pvt. Ltd, Nucor Corporation, PEBS Pennar, Zamil Steel Building and PEBS Pennar. These market players engage in various strategies such as mergers and acquisitions, capacity expansion and new product launches to gain competitive advantages.

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Partial chapters of the report’s table of contents (TOC):

Chapter 2 Summary
2.1 Translucent Concrete Industry 360° Summary, 2018–2032
2.2 Trends in the prefabricated buildings market
2.3 Raw material trends
2.4 Application trends
2.5 End-use trends
2.6 Regional trends
Chapter 3 Translucent Concrete Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry influence forces
3.2.1 Growth factors
3.2.1.1 More and more home applications
3.2.1.2 Developing construction industry
3.2.1.3 Rapid urbanization
3.2.2 Pitfalls and challenges in the industry
3.2.2.1 Production cost
3.2.2.2 Limited supplier database
3.2.2.3 Complex production process
3.3 Growth potential analysis
3.3.1 By raw material
3.3.2 By application
3.3.3 By end use
3.4 Covid-19 impact analysis
3.5 Regulatory landscape
3.5.1 USA
3.5.2 Europe
3.6 Price analysis, 2022
3.7 Cost recovery scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter’s analysis
3.12 PESTEL Analysis
3.13 Impact of the Russian-Ukrainian war
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Global market share analysis of companies, 2022
4.4 Competitive positioning matrix
4.5 Strategy panel

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About Global Market Insights Inc.

Global Market Insights Inc. headquartered in Delaware, USA, is a global market research and consulting services provider offering syndicated and custom research reports and growth advisory services. Our business intelligence and industry research reports offer clients insightful insights and actionable market data, specifically designed and presented to support strategic decision-making. These comprehensive reports are designed based on proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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