Global Multifamily Modular and Prefabricated Housing Construction Market Report 2022 – Market Forecast, Trends And Strategies

The global multifamily modular and prefabricated housing construction market size is expected to grow from $38.50 billion in 2021 to $41.18 billion in 2022 at a compound annual growth rate (CAGR) of 7.0%. The growth in the multifamily modular and prefabricated housing construction market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The multifamily modular and prefabricated housing construction market is expected to reach $54.07 billion in 2026 at a CAGR of 7.0%.

What is the Global Multifamily Modular and Prefabricated Housing Construction Market?

The multifamily modular and prefabricated housing construction market consists of sales revenue earned by companies that are engaged in the construction of multifamily modular and prefabricated homes. Modular construction is a process wherein units are built and inspected offsite in a manufacturing facility while podium, foundation, and infrastructure are built onsite. This method is used to increase housing production by accelerating construction time and reducing construction costs.

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What drives the Global Multifamily Modular and Prefabricated Housing Construction Market?

Initiatives by governments across countries to promote sustainable buildings and wastage reduction along with mandating the use of modular and prefabricated systems is a major trend shaping the growth of the multifamily modular and prefabricated housing construction market. According to the Building and Construction Authority (BCA), a Singapore government agency website, the Singapore government mandated Prefabricated Prefinished Volumetric Construction (PPVC) acceptance framework to be used at development sites. PPVC suppliers and manufacturers are instructed to ensure that their PPVC systems and in-built bathrooms meet the PPVC performance requirements. Thus, the rising government initiatives to promote green buildings and the use of modular housing is expected to remain a key trend for the industry.

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Global Multifamily Modular and Prefabricated Housing Construction Market Segments
The global multifamily modular and prefabricated housing construction market is segmented:
By Type: Permanent, Relocatable
By Material: Steel, Precast Concrete, Wood, Plastic, Others
By Geography: The regions covered in the multifamily modular and prefabricated housing construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global multifamily modular and prefabricated housing construction market.

Multifamily Modular and Prefabricated Housing Construction Global Market Report 2022provides market size and growth forecasts for the global multifamily modular and prefabricated housing construction market, global multifamily modular and prefabricated housing construction market share, multifamily modular and prefabricated housing construction market segments and geographies, multifamily modular and prefabricated housing construction market competitive landscape including leading competitors’ revenues, profiles and market shares. The multifamily modular and prefabricated housing construction market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Multifamily Modular and Prefabricated Housing Construction Industry Playersinclude Guerdon Modular Buildings, ATCO, Laing O'Rourke, Red Sea International Company, Vinci Construction Grands Projects, Bouygues Construction, Skanska AB, Kleusberg GmbH & Co. KG, Algeco, Katerra. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.