DUBAI, UAE. 9th September
2019: Prefabricated Construction Market is
anticipated to witness a massive growth with a staggering CAGR in the forecast
period. Precisely, prefabrication is nothing but the practice of accumulating
and assembling all the required components in a factory and then transporting
all of them to the construction site where the structure is to be located.
The market is majorly growing because there is an immense
surge in the infrastructural developmental activities and constructions
globally. After long despair in the prefabricated construction market, the
number of new constructions in numerous developed and emerging countries has
increased tremendously and the market has come into a major hype again. But,
there are countries where the labors do not hold the potential and skill
resulting in a poor infrastructure. This is one of the foremost restraining
factor, which is impeding the growth of the market.
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Geographically, Asia Pacific has been generating the maximum
revenue and holds the largest market share of the prefabricated construction industry
and is estimated to dominate the market even in the near future. The reason
behind Asia Pacific’s domination is the upsurge in urbanization and
infrastructural development in some its countries such as India, Indonesia and
China. Followed by this, Europe is the second region that is expected to
witness a decent growth in the market during the forecast period. In the near
future, market will continue to come up with new product innovations to attract
new consumers and investors, for them to continue the domination.
“Smart City’ is one of the major trends in the market as it
provides a proficient and maintainable environment within the buildings. This
concept has gained great popularity in developed and developing regions because
smart cities have the potential to optimize energy very efficiently.
Some of the major key vendors of the prefabricated
construction market are Taisei Corporation, Balfour Beatty plc, Komatsu Ltd,
Red Sea Housing Services, Kiewit Corporation, Julius Berger Nigeria Plc,
Bouygues Construction, Larsen & Toubro Limited, Laing O’Rourke and ACS
Group. Other minor key players in this market are Spiroll Precast Services
Ltd., Weckenmann Anlagentechnik GmbH & Co. KG, Putzmeister Holding,
Elematic Inc. and EBAWE. All the leading companies are including mergers and
acquisitions, partnerships and joint ventures to enhance the growth of the
market efficiently.
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Market split by Type,
can be divided into:
• Modular Construction
• Manufactured Homes
• Others
Market split by
Application, can be divided into:
• Residential
• Non-residential
Market split by Sales
Channel, can be divided into:
• Direct Channel
• Distribution Channel
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