Research and Markets has announced the addition of the "Global Prefabricated Buildings - Market Opportunity and Environment, Analyses and Forecasts to 2016" report to their offering.
The global prefabricated buildings market valued over US$65 billion in 2011, out of which the European market constituted a share of 52.9%, making it the largest regional market for prefabricated buildings in the world. In the same year, Asia-Pacific and North American markets positioned themselves as the second and third largest regional markets with shares of 24.50% and 15.40% respectively. Continuing economic uncertainty in Europe and sluggish growth in the US are expected to reduce the market shares of these regions. Stable and growing economies in China and India are also expected to reduce the market shares of the US and Europe as demand in the Asia-Pacific region is growing faster, caused by the rising popularity and growing awareness of the benefits of prefabricated buildings. The share of European and North American markets is expected to be 49.50% and 14.10% respectively in 2016, decreasing from 52.90% and 15.40% in 2011.
- The global prefabricated buildings market valued over US$65 billion in 2011, out of which the European market constituted a share of 52.9%, making it the largest regional market for prefabricated buildings in the world.
- Commercial and industrial applications will drive 50% of prefabricated building demand with the iron and steel building category being the key contributor.
- Technology improvisation in prefabrication is crucial to future demand growth.
- Prefabrication is a solution to improving the productivity and efficiency of the global construction industry.
- The use of prefabricated buildings for residential building construction will increase over the forecast period.