The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The benefits associated with modular construction are expected to drive innovation in multifamily modular and prefabricated housing construction manufacturing, thus driving the market during the forecast period.

The global multifamily modular and prefabricated housing construction market is expected to grow from $44.47 billion in 2022 to $47.56 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The global multifamily modular and prefabricated housing construction market size is expected to grow to $62.62 billion in 2027 at a CAGR of 7.1%.

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Global Multifamily Modular And Prefabricated Housing Construction Market Segments Include:

• By Type: Permanent, Relocatable
• By Material: Steel, Precast Concrete, Wood, Plastic, Other Materials
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global multifamily modular and prefabricated housing construction market in 2021.

Major Market Players in the multifamily modular and prefabricated housing construction market include Guerdon Modular Buildings, ATCO, Laing O’Rourke, and Red Sea International Company.

Initiatives by governments across countries to promote sustainable buildings and waste reduction along with mandating the use of modular and prefabricated systems are a major trend shaping the growth of the multifamily modular and prefabricated housing market. According to the Building and Construction Authority (BCA), a Singapore government agency website, the Singapore government mandated the Prefabricated Prefinished Volumetric Construction (PPVC) acceptance framework to be used at development sites. PPVC suppliers and manufacturers are instructed to ensure that their PPVC systems and in-built bathrooms meet the PPVC performance requirements. Thus, government initiatives to promote green buildings and the use of modular housing are expected to remain a key trend for the industry.

The Multifamily Modular And Prefabricated Housing Construction Global Market Report 2023  provides a multifamily modular and prefabricated housing construction market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The multifamily modular and prefabricated housing construction market forecast analyzes multifamily modular and prefabricated housing construction market size, multifamily modular and prefabricated housing construction market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The multifamily modular and prefabricated housing construction market consists of sales revenue earned by companies that are engaged in the construction of multifamily modular and prefabricated homes. Modular construction is a process wherein units are built and inspected offsite in a manufacturing facility while the podium, foundation, and infrastructure are built onsite. This method is used to increase housing production by accelerating construction time and reducing construction costs.

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