Despite growth prospects, the market faces challenges such as a shortage of skilled labor, inadequate infrastructure in developing nations
Through precision, innovation, and resilience, the construction and manufacturing industries build the frameworks and tools that shape our modern worldโ
WILMINGTON, DE, UNITED STATES, February 4, 2025 /EINPresswire.com/ -- ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฅ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐จ๐ฃ๐๐๐ญ๐ข๐จ๐งโ AMR
The global ๐ฉ๐ซ๐๐๐๐๐ซ๐ข๐๐๐ญ๐๐ ๐ก๐จ๐ฆ๐๐ฌ market was valued at USD 20.4 billion in 2022 and is projected to reach USD 38.9 billion by 2032, registering a compound annual growth rate (CAGR) of 6.7% from 2023 to 2032. This growth is fueled by increased industrialization, urbanization, and the demand for cost-effective and sustainable housing solutions worldwide.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ@ https://www.alliedmarketresearch.com/request-sample/A290156
๐๐๐ซ๐ค๐๐ญ ๐๐๐๐ข๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง
Prefabricated homes, also known as modular homes, are constructed offsite in a controlled environment before being transported and assembled at the final location. These homes are built using materials such as steel, timber, and concrete, ensuring high accuracy, reduced construction time, and cost-effectiveness compared to traditional methods. The popularity of prefabricated homes is growing due to their durability, environmental benefits, and customizable designs.
In addition to urban settings, prefabricated homes serve as an ideal solution for remote areas where conventional construction is challenging. The market is gaining traction due to advantages such as minimal waste generation, high flexibility, quality control, and increased acceptance in the construction sector.
๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
The prefabricated homes market is experiencing robust growth due to the rising global population and increased demand for affordable housing. Developing regions, including Africa, China, and India, are witnessing rapid urbanization, driving the demand for modular housing solutions. Additionally, the need for employment opportunities, infrastructure, and essential services such as clean water, transportation, and social services further propels market expansion.
In September 2023, Mighty Buildings, a startup specializing in prefabricated homes with eco-friendly technology, secured $52 million in funding. Such investments indicate growing confidence in the prefabricated housing industry, further driving market growth.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐@ https://www.alliedmarketresearch.com/purchase-enquiry/A290156
๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ
Despite its advantages, the prefabricated homes market faces certain challenges. The lack of trust in modular construction in earthquake-prone areas hinders its adoption. Additionally, the COVID-19 pandemic led to temporary disruptions in the construction sector, negatively impacting market growth. However, with industries returning to full-scale operations, the modular construction sector is expected to regain momentum.
๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐จ๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง
The market is poised for expansion due to rising infrastructure investments and a growing focus on green building concepts. Governments worldwide are promoting modular housing as an eco-friendly solution to address housing shortages. Countries such as Germany, France, and India are witnessing increased spending on modular construction, boosting demand for prefabricated homes.
Furthermore, modular housing's affordability and portability appeal to urban populations seeking cost-effective living solutions. In October 2023, an Indonesian startup specializing in modular homes secured $10 million in funding, demonstrating strong investor interest in the sector.
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
The prefabricated homes market is segmented based on construction type, material, and region.
๐๐ฒ ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐ฒ๐ฉ๐
Single-family homes
Multi-family homes (dominated the market in 2022)
By Type
Permanent
Relocatable
By Material
Steel
Wood
Concrete (highest revenue generator in 2022)
Others
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง
North America (highest revenue in 2022)
Europe
Asia-Pacific
LAMEA (anticipated to register the highest CAGR during the forecast period)
๐๐ฉ๐๐๐ญ๐ ๐๐ง ๐๐๐ฆ๐๐ง๐@ https://www.alliedmarketresearch.com/request-for-customization/A290156
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐
Leading players in the prefabricated homes market include:
Aakash Group
ATCO Ltd.
Giant Containers, Inc.
Honomobo Corporation Inc.
Savills plc
SG Blocks, Inc.
Skanska AB
Speed House Group of Companies Limited
Stillwater Dwellings, Inc.
Tempohousing B.V.
These companies are expanding their market presence through partnerships, acquisitions, and product innovations.
๐๐๐ฒ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐ฌ ๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Acquisitions and Expansions
January 2023: ATCO Ltd. acquired Triple M Modular Housing, a leading factory-built housing manufacturer in Canada. This acquisition strengthens ATCOโs modular housing segment.
December 2022: SG Blocks, Inc. acquired 25 acres of land in Denison, Texas, to develop modular housing projects.
May 2022: SG Blocks expanded its modular construction techniques to support affordable housing initiatives, joining the Tiny House Alliance USA.
David Correa
Allied Market Research
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