Global Nonresidential Prefabricated Building Systems Market Report 2021: Market to Reach $94 Billion by 2027 - U.S. Market is Estimated at $20 Billion, While China is Forecast to Grow at 4.5% CAGR
Dublin, Aug. 17, 2021 (GLOBE NEWSWIRE) -- The "Nonresidential Prefabricated Building Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Nonresidential Prefabricated Building Systems Market to Reach $94 Billion by 2027
Amid the COVID-19 crisis, the global market for Nonresidential Prefabricated Building Systems estimated at US$67.9 Billion in the year 2020, is projected to reach a revised size of US$94 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027.
Metal Building Systems, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$47.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Modular Building Systems segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $20 Billion, While China is Forecast to Grow at 4.5% CAGR
The Nonresidential Prefabricated Building Systems market in the U.S. is estimated at US$20 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.6 Billion by the year 2027 trailing a CAGR of 4.5% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 3.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Panelized Precast Concrete Systems Segment to Record 4.7% CAGR
In the global Panelized Precast Concrete Systems segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$9.9 Billion in the year 2020 will reach a projected size of US$13.6 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.8 Billion by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Prefabricated Buildings: Providing More Controlled Conditions and Enabling Improved Quality, Flexibility, Practicality, and Cost
Recent Market Activity
Evolution of Prefabricated Buildings as the Revolutionary Change in the Global Construction Industry: The Fundamental Growth Driver
Strong Emergence of Prefab Buildings in the Non-Residential Sector
Myriad Benefits and Superior Attributes of Prefabricated Construction over Traditional Construction Drive Widespread Adoption
Prefabrication Turns Budget Saver
Recyclability Factor Drive Uptake of Precast Concrete Structures
Modular Construction Offer Cost and Speed Efficiencies
Prefabricated Vis-a-vis Traditional Buildings
Market Fortunes Intrinsically Linked to Performance of the Global Construction Industry
Recovery in Construction Activity Worldwide Benefit Prospects for Prefabricated Buildings
Introduction of Wide Range of Innovative Technologies Fuel Construction Industry Growth
Prefabricated and Modular Structures Witness Increasing Popularity
Rising Investments in Infrastructure Projects
Upward Movement in Construction Activity in the Asian Countries
Global Market Outlook
Improvement in Global Economy Supports Near-term Growth Momentum
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS(Total 211 Featured):
Alan Pre-Fab Building Corp.
Algeco Scotsman
ALHO Systembau GmbH
Allied Modular Building Systems Inc.
American Buildings Company
Brytex Building Systems Inc.
Butler ManufacturingT Company, Inc.
Cadolto Fertiggebaude GmbH & Co. KG
Flexator AB
Lester Building Systems, LLC
Madison Industries Inc.
NCI Building Systems, Inc.
Normerica Timber Homes & Cottages
Nucor Building Systems
Rollalong Ltd.
United Structures of America Inc.
Varco Pruden Buildings, Inc.
Whitley Manufacturing Company, Inc.
Yves Cougnaud S.A.
3. MARKET TRENDS & DRIVERS
Schedule Challenges and Chronic Cost Overruns in Engineering and Construction Drive Strong Demand for Modular Building Systems
Cross Laminated Timber (CLT) Catapults Modular Construction to Greater Heights
CLT: A Strong Contender for Concrete and Steel Building Systems
Relocatable Buildings (RBs): Transportable, Repurposed and Reused Attributes Drive Demand
Growing Interest in Permanent Modular Construction as a Sustainable Method of Construction Delivery
Growing Adoption of BIM Increases Uptake of Model Driven Prefabrication
Need to Expedite Procurement and Build Process Spurs Demand for 3D Printing in Prefabrication and Modularization
Perennial Demand for Optimally Designed Steel Framed Buildings Make Metal Building Systems the Dominant Prefab Segment
Metal Roofing Systems Offer High Aesthetic, Acoustic, Environmental, Seismic and Thermal Performances
Prefabrication as a Greener and Resource Efficient Mode of Construction Immensely Benefits from the 'Green Construction' Trend
Leading Factors Fostering Future Uptake of Green Building Practices among Contractors: Ranked by Order of Importance
Prefabrication: A Faster Route towards Gaining Energy Efficiency Credits
Corporate Sector Relies on Prefabricated Model for Office Space Needs
Investments on Prefabricated Buildings Remain High in the Educational Sector
Prefabricated Buildings Gain Visibility in Healthcare Environments
Industrial Establishments Aim to Leverage Prefabricated Approach for Quicker & Reliable Construction
Warehouse: A Noteworthy Application for Prefabricated Buildings in Industrial Facilities
Agricultural Sector Remains Key Revenue Contributor for Non-residential Prefabricated Building Systems
Military Sector: One of the Foremost Adopters of Prefabricated Model
Prefabricated Model Fully Suffices the Worksite Building Needs
Prefabricated Structures Extend Convenience in Dining Hall Applications
Prefabricated Model for Dormitory Structure Requirements
Prefabricated Concept Makes Possible High-Quality Shower Structures
Greater Use of Off-site Construction Methods Bodes Well for Prefabrication Industry
Aging Urban Areas: A Potential Opportunity Generator
Job Site Conditions: An Important Variable Influencing Uptake of Prefabrication Elements
Factors Limiting the Adoption of Pre-assembly and Prefabrication
Educating Owners: Need of the Hour
Prefabrication Usage Patterns of Various Construction Professionals in North America - Ranking Based on Quantum of Usage
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 211
For more information about this report visit https://www.researchandmarkets.com/r/44ybqn
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