Major players in the market are Red Sea Housing Services; Skanska AB; Bouygues Construction; ACS Actividades de Construcción y Servicios SA; Lindal Cedar Homes Inc. ; Kiewit Corporation; Balfour Beatty Plc.
New York, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Single-Family Modular and Prefabricated Housing Construction Global Market Report 2022" - https://www.reportlinker.com/p06193667/?utm_source=GNW
; Taisei Corporation; System House R & C Co. Ltd.; Larsen & Toubro Limited.
The global single-family modular and prefabricated housing construction market is expected to grow from $40.74 billion in 2021 to $42.64 billion in 2022 at a compound annual growth rate (CAGR) of 4.7%. The growth is mainly due to the companies rearranging their operations and 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 market is expected to reach $51.23 billion in 2026 at a CAGR of 4.7%.
The single-family modular and prefabricated housing construction market consists of sales of single-family modular and prefabricated houses and related services that are used in residential, commercial, and industrial sectors.Modular construction is a method in which, through managed plant circumstances, a building is developed off-site using the same resources and constructing the same codes and specifications as conventionally designed structures but in about half the time.
All modular buildings are prefabricated, but all prefabricated buildings might or might not be modular.
The main types of single-family modular and prefabricated housing construction are permanent and relocatable houses.A partially or fully assembled building that is created at a building manufacturing facility employing a modular construction technique and meets applicable codes or state standards is referred to as relocatable home construction.
Relocatable buildings are intended to be reused or repurposed several times before being transferred to new construction locations. The different materials include steel, wood, concrete, others and are used in residential, commercial, industrial applications.
Asia Pacific is the largest region in the single-family modular and prefabricated housing construction market in 2021.Eastern Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 minimize project deadlines by as much as 50% as well as costs by 20%.
They lead to increased productivity, 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 saving is expected to drive the growth of the single-family modular and prefabricated housing construction market.
Implementation of Building Information Modeling (BIM) in modular construction is an emerging trend in the single-family modular and prefabricated housing construction market.Building Information Modeling (BIM) is a revolutionary technique for designing, building, and managing construction models.
This 3D model-based technology provides a digital representation of a building’s physical and functional qualities.The technology enables all parties engaged in the built asset’s creation and lifespan management to share data and collaborate.
During the pre-construction phase, BIM provides specialists with a 3D picture of the structure.It allows specialists to detect potential incompatibilities in mechanical, electrical, and plumbing (MEP) systems and address them at an early stage.
For instance, in October 2021, AGACAD, a Lithuania based software company launched Panel Packer based on 3D technology. In Autodesk Revit, Panel Packer is a sophisticated tool for organising the sorting, packing, and loading of prefabricated construction components.
The risks associated with transportation is a key factor impacting the growth of the single-family modular and prefabricated housing construction market.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 arrived, positioned, and set relatively smoothly but interior drywall was cracked due to the raising of the modules.
In January 2020, GS Engineering & Construction (E&C), a South Korea based construction company acquired Danwood S.A., from Enterprise Investors for a deal amount of $155 million. Through this acquisition, GS E&S planned to enter the European modular housing market by utilizing the strengthen, networks, and technology of Danwood. Danwood S.A. is a Poland based company that specialises in the construction of timber frame houses.
The countries covered in the single-family modular and prefabricated housing construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06193667/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001