In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Prefabricated Building Market in Europe Report. The prefabricated building market revenue in Europe is expected to grow at a CAGR of approx.
New York, April 16, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prefabricated Building Market in Europe - Industry Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p06063356/?utm_source=GNW
4% during the period 2020–2026.
The Europe prefabricated building market size was valued at USD 24 billion in 2020 and is likely to reach USD 32 billion in 2026, growing at a CAGR of over 4% during the forecast period. The market is growing as the demand for better quality sustainable homes across the region increases, with the UK and Germany accounting for the largest shares. The use of additive manufacturing in Europe expects to lend tremendous support to the prefabricated construction market. Companies are using eco-friendly materials and manufacturing techniques to differentiate their offerings from their competitors. The focus on energy efficiency has led to the adoption of energy-absorbing materials such as micro homes. The advent of turnkey solutions is another major factor, which is driving the market growth in the region, especially in Switzerland, Nordic, and the UK. Germany, Nordic, and the UK dominate the Europe prefabricated building market share. The outbreak of the COVID-19 pandemic has led to severe uncertainty for vendors and contractors in the construction industry across Europe. Several construction companies shut down their projects due to lockdown and restrictions. However, due to immediate requirements for hospitals and quarantine sectors, the demand for prefabricated materials witnessed an increase. Since a high workforce is required for traditional construction, opting for prefabricated buildings came out as an optimum solution during the pandemic.
The following factors are likely to contribute to the growth of the Europe prefabricated building market during the forecast period:
• High Demand for Turnkey Solutions
• Space Constraints in Cities
• High Profitability
• Increased Demand for High-end and Customized Buildings
The study considers the Europe prefabricated buildings market’s present scenario and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
PREFABRICATED BUILDING MARKET IN EUROPE : SEGMENTATION
The steel prefabricated buildings market expects to observe an incremental growth of approx. USD 3 billion by 2026. Steel reframes observe high adoption in prefabricated buildings due to lightweight, ductility, and recyclability. These reframes are witnessing high acceptance in the construction sector as they can absorb wind turbulence and offer high elasticity during earthquakes. However, with the outbreak of the COVID-19 pandemic in Europe, manufacturing activities and steel-using industrial sectors were shutdown, which affected the steel demand. The EU28 steel consumption declined by -25.5% YOY in the second quarter of 2020 after witnessing a drop of -12% in the first quarter due to the onset of the COVID-19 pandemic.
The residential prefabricated building market in Europe accounted for over 44% share in 2020. With the increasing shift toward turnkey housing solutions, the prefabricated housing market expects to pick across Europe. Moreover, the ease of preparation and consent procedures are likely to boost the demand for prefabricated houses. The demand for prefabrication material in the renovation of residential houses is also expected to provide significant opportunities in the future, thereby boosting the market growth during the forecast period.
The prefabricated building market in Europe by cellular systems accounted for over 24% share in 2020. The increasing demand for complete and finished turnkey solutions in Europe is the primary factor responsible for cellular systems’ growth. The growing number of prefabricated constructions expects to boost the demand during the forecast period. Cellular systems play a vital role in the development of multidimensional structures. In addition, they are also regularly used for building cells, which provide isolation.
Panel systems constitute an important place in modern construction as they are used in buildings, apartments, houses, public and industrial buildings, roads, airfields, dams, and canals. They have widely been used in large-scale housing and civil construction, increasing their revenue share. The application of panel systems is growing as they reduce construction time compared to traditional materials, including bricks. They are highly cost-efficient as they decrease labor expenditures by 30–40%.
• Skeleton System
• Panel System
• Cellular System
• Combined System
• Other Systems
INSIGHTS BY GEOGRAPHY
The prefabricated building market in Germany is expected to account for the highest revenue share by 2026. The housing market in Germany is witnessing drastic changes. A significant shift has been witnessed with the young population turning cities for educational opportunities and livelihood. Hence, the demand for affordable, target-group-oriented living space is increasing in cities, boosting the demand for modular construction in the country. Growing investments in the construction sector are likely to boost revenues in Germany. Launching new innovative buildings can offer a competitive edge in the market. The UK, Spain, France, and Italy are the other countries that are likely to emerge as the major contributors to the market.
INSIGHTS BY VENDORS
Vendors are focusing on technological innovations. Several vendors are involved in offering wooden prefabricated structures with complete customization. High capital requirements and rapid advances in technology are significant entry barriers for new players. The competition has intensified, leading to the introduction of many innovative and advanced solutions in the market, such as turnkey solutions and lightweight ceramic houses. Therefore, attaining sustainability, expanding into other geographies, and reviving domestic demand are essential factors for vendors. Vendors can boost profitability by practicing efficient production techniques that minimize product costs and mitigate associated risks.
• Alho Systembau
• Astron Buildings
• Berkeley Group
• Bouygues Batiment International
• Ceramic Houses
• DFH Group
• Fertighaus Weiss
• ilke Homes
• Laing O’Rourke
• Modulaire Group
• Segezha Group
• Skanska Group
• Danish Modular System
• HUF HAUS
KEY QUESTIONS ANSWERED:
1. How big is the Europe prefabricated building market?
2. At what CAGR is the Europe prefabricated buildings market projected to grow in the forecast period (2020-2026)?
3. Which segment accounted for the largest share of the Europe prefabricated market in 2020?
4. Which factors are expected to drive the adoption of prefabricated buildings?
5. What is the size of the UK prefabricated building market?
Read the full report: https://www.reportlinker.com/p06063356/?utm_source=GNW
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