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/EIN News/ — Dublin, June 21, 2019 (GLOBE NEWSWIRE) — The "Panelized Modular Building Systems Market – Growth, Trends, and Forecast (2019 – 2024)" report has been added to ResearchAndMarkets.com's offering.
The panelized modular building systems market is expected to grow at a CAGR of above 8% during the forecast period of 2019-2024.
The major factors driving the growth of the market studied are the rising demand for off-site construction, increasing demand for structural insulated panels in energy-efficient prefabricated homes, and supportive government incentives & policies. On the flipside, the transportation logistic requirements are likely to hamper the growth of the studied market.
- Residential construction dominated the market in 2018 and is likely to grow during the forecast period, which growing demand for residential dwellings in regions, such as Asia-Pacific, North America, and Europe.
- The increasing investment in infrastructure & commercial constructions in developing economies, and implementation of building information modeling (BIM) are likely to provide opportunities for the studied market during the forecast period.
- North America dominates the market across the globe. However, the Asia-Pacific region is likely to witness the highest growth during the forecast period, which has been witnessing strong growth in both residential and commercial construction.
Key Market Trends
Residential Construction Segment to Dominate the Market Demand
- Panelized modular building system incorporates construction techniques that use advanced technology, quality materials, as well as a controlled work environment for building up energy efficient homes in less time.
- Panelization also provides more consistent quality, offers precise construction resulting in a stronger house, and helps in reducing the construction time.
- The residential construction has been witnessing strong growth in regions like North America, Asia-Pacific, and Europe.
- In Asia-Pacific, residential construction is increasing in the countries, including India, China, Indonesia, Singapore, and Vietnam.
- Whereas, North America and Europe are also witnessing the growth in residential construction which is widely driven by high demand for residential houses in North America with growing population and migration to the region from other parts of the world, and recovering residential construction in Europe.
- Hence, such market trends are likely to drive the demand for panelized modular building systems market during the forecast period.
North American Region to Dominate the Market
- North America region dominated the global market share in 2018. The modular construction is witnessing strong growth in the region, and the growth is driven by the growing construction in the region.
- Interest in modular construction has been traditionally getting strong in the Northeastern region of the United States, owing to the greatly reducing shipping costs, as well as the growth of larger projects in that region.
- New investments have been taking place in Oakland, for large scale projects of building modular systems constructed apartments.
- In Canada, Vancouver city council asked for another 600 units, almost double the number of temporary modular housing in the city. Seven complexes, featuring a total of 404 homes, have been completed, a 98-unit complex is nearing completion, and two units, which may create another 101 homes, are under construction and are expected to be completed by 2019.
- Besides, 35% of contractors in the United States are implementing modular construction methods in the design phase of the building process. Nearly 40% of US contractors said that modular construction is part of their future strategic construction initiatives. The rising residential construction and renovation projects in the country is likely to drive the demand for panelized modular building systems.
- Thus, such a market scenario is estimated to continue during the forecast period, thus fuelling the demand for panelized modular building construction in the region.
The panelized modular building systems market is a fragmented market, with numerous players holding insignificant share to affect the market demand individually. Some of the noticeable players in the market include Algeco Scotsman, Modern Prefab Systems, Lindal Cedar Homes, Oregon Timber Frame, and Kingspan Timber Solutions, amongst others.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Rising Demand for Off-site Construction
4.1.2 Increasing Demand for Structural Insulated Panels in Energy-efficient Prefabricated Homes
4.1.3 Supportive Government Incentives & Policies
4.2.1 Transportation Logistics Requirements
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Technological Snapshot
4.6 Regulatory Policy Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Timber Frame
5.1.2 Light Gauge Structural Steel Framing
5.1.4 Other Product Types
5.2.4 Industrial and Institutional
22.214.171.124 South Korea
126.96.36.199 ASEAN Countries
188.8.131.52 Australia & New Zealand
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East & Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Algeco Scotsman
6.4.2 Champion Home Builders Inc.
6.4.3 EOS Facades Limited
6.4.4 Frame Homes UK
6.4.5 Fusion Building Systems
6.4.6 Hadley Industries PLC
6.4.8 Kingspan Timber Solutions
6.4.9 KLH UK
6.4.10 Lindal Cedar Homes Inc.
6.4.12 Metek Building Systems
6.4.13 Modern Prefab Systems Pvt. Ltd. Inc.
6.4.14 Oregon Timber Frame
6.4.15 Pinewood Structures
6.4.16 Ritz-Craft Corporation
6.4.17 Robertson Timber Engineering
6.4.18 Salvesen Insulated Frames
6.4.19 SIP Building Systems
6.4.20 SIPS Eco Panels
6.4.21 Taylor Lane Timber Frame
6.4.22 Thorp Precast
6.4.23 Walker Timber Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Investment in Infrastructure and Commercial Constructions in Developing Economies
7.2 Implementation of Building Information Modeling (BIM)
For more information about this report visit https://www.researchandmarkets.com/r/7r6iys
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