Off-site Construction Market Poised for Steady Growth at 5.58% CAGR

Posted by nandini from the Business category at 06 Mar 2025 05:45:28 am.

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Off-Site Construction Market Set to Surge at 5.58% CAGR, Driven by Rapid Urbanization and Technological Advancements
The Off-Site Construction Market is projected to expand from USD 151.16 billion in 2023 to approximately USD 221.10 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.58%. This growth is propelled by the increasing demand for swift construction solutions, particularly in the educational and healthcare sectors, coupled with advancements in Building Information Modeling (BIM) and digital technologies.
Competitive Landscape
The off-site construction industry is witnessing heightened competition, with key players such as ATCO, Skanska AB, Lendlease Corporation, and SG Blocks Inc. leading the market. These companies are leveraging innovative construction methods to meet the escalating demand for rapid and efficient building solutions. Notably, the Asia-Pacific region is experiencing a significant surge in off-site construction activities, driven by urbanization and government initiatives promoting sustainable infrastructure development.
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Regional Demand
United States: Opportunities in Off-Site Construction
The United States is experiencing a surge in off-site construction adoption, driven by the need for affordable housing and efficient building practices. Japanese company Sekisui House has become a significant player in the U.S. housing market, becoming the fifth-largest homebuilder in the country by units. The company's expansion includes the acquisition of MDC Holdings for $5 billion, adding to its existing ownership of American subsidiaries such as Woodside Homes, Holt Homes, Chesmar Homes, and Hubble Homes.
Asia Pacific: Growth in Off-Site Construction
The Asia Pacific region is witnessing a notable increase in off-site construction activities, propelled by urbanization and infrastructure development. In 2024, the region saw 131 mergers and acquisitions (M&A) deals in the construction and real estate industry, totaling $5.2 billion. A significant transaction was the $1.3 billion acquisition of Penna Cement Industries by Ambuja Cements.
Middle East and Africa: Trends in Off-Site Construction
The Middle East and Africa are embracing off-site construction to meet the demands of rapid urbanization and economic diversification. In 2024, the region recorded 14 M&A deals in the construction and real estate sector, amounting to $474 million. Notably, Amsons Group acquired Bamburi Cement for $182.9 million, marking the industry's largest disclosed deal in the region.
Europe: Consolidation in Off-Site Construction
Europe's off-site construction market is undergoing consolidation as companies seek to enhance competitiveness and address housing shortages. French construction materials group Saint-Gobain reported a slight year-on-year decline in third-quarter volumes by 1.5%, which was marginally less than analysts' predicted decline of 1.6%. The performance was driven by the resilient renovation market, which buoyed the company's overall results amidst European market weakness and a decline in new construction activities.
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Market Segmentation: In-Depth Analysis:
by Product
1. Steel
2. Wood
3. Concrete
4. Other
The market for off-site construction is divided into several segments, including concrete, steel, and wood. With a 36.10% market share in 2023, steel products dominated the worldwide off-site construction market and are anticipated to do so for the duration of the forecast period. Steel products are generally preferred in the off-site construction industry due to their inherent qualities that align with the requirements of prefabricated and modular construction. Because of its many advantages—such as its great strength, durability, and adaptability—it is the perfect product to use when creating standardized components for off-site building.
by Type
1. Fixed
2. Movable
The market for off-site construction is divided into two segments: moveable and stationary. With a 65.56% market share, the fixed type segment dominated the off-site construction market in 2023. Because of its conventionality to standardized designs, structural stability, and dependability, fixed kinds have become popular in the off-site building sector. The fixed type segment approach helps to guarantee uniformity, high quality, and accurate manufacture by prefabricating building components in regulated factory settings. The fixed-type strategy is the preferred choice for shortening construction project timelines since it offers efficiency, cost-effectiveness, and successful construction procedures.
by Methods Outlook
1. Volumetric Construction
2. Hybrid Construction
3. Panelized Construction
4. Sub-Assemblies and Accessories Systems
The market for off-site construction is divided into four segments: panelized construction and sub-assemblies, hybrid construction, volumetric construction, and accessory systems. With a 33.24% market share in 2023, the panelized construction segment dominated the off-site construction industry. Because of its accuracy and efficiency, panelized construction is much sought after in the off-site construction industry. The process entails composing building components with superior qualities in controlled circumstances. It reduces the amount of time spent building on-site. It simplifies the building process while providing design flexibility as well.
by Application
1. Residential
2. Commercial
3. Industrial
The market for off-site building is divided into three segments: commercial, industrial, and residential. In 2023, the residential sector accounted for the greatest share of the off-site construction market (56.56%). Off-site construction is anticipated to become more popular in residential projects due to the need for efficient and reasonably priced housing solutions as well as the necessity of off-site project completion. Prefabricated parts and modular homes provide a simplified method that lowers construction costs and time. Over the course of the projection period, the commercial sector is anticipated to expand at a CAGR of 5.87%.
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Learn about the top players driving innovation in the Market :
1. ATCO (Canadian Utilities,)
2. Anderco Pte. Ltd (Singapore)
3. Giant Containers Inc (Canada)
4. Honomobo Corporation (Alberta, Canada.)
5. Lendlease Corporation (Sydney, Australia)
6. SG Blocks Inc (United States)
7. Skanska AB (Stockholm, Sweden)
8. Blokable Inc. (United States)
9. Blu Homes (Vallejo, California, United States.)
10. Emagispace (United States)
11. Falcon Structures (United States)
12. FullStack Modular (United States)
13. Modus Structures Inc (Canada)
14. Nomodic(India)
15. Plant Prefab, Inc. (United States.)
16. Project Frog (United States.)
17. SG Blocks Inc. (United States)
18. Bechtel Corporation (California,)
19. Speed House Group of Companies (UAE)
20. Supertech Industries LLC (UAE)
21. Fluor Corporation (US)
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