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Panelized Modular Building Systems Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

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    Report

  • 150 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4520187

FEATURED COMPANIES

  • Algeco
  • Frame Homes UK
  • Hunter Douglas Group
  • KLH UK Limited
  • Metek PLC
  • Pinewood Structures
The panelized modular building systems market is expected to record a CAGR of 6.31% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. The construction industry was badly impacted by COVID-19, as many projects were halted in 2020 due to a lack of funds, labor shortage, and lockdown regulations. Due to a ban on inter-state travel, an exodus of migrant workers, also known as informal sector workers, negatively affected the supply chain. Thus, the panelized modular building systems market is restrained by the impact of COVID-19. However, demand for prefabricated hospitals and patient bed facilities increased during the peak of the pandemic in 2020, which boosted the demand for panelized modular building systems, as they need a very less completion time.

Key Highlights

  • Over the short term, rising demand for off-site construction, increasing demand for structural insulated panels in energy-efficient prefabricated homes, and supportive government incentives and policies are expected to drive the market's growth.
  • On the flip side, transportation logistics requirements and unfavorable conditions arising due to the COVID-19 impact are likely to hamper the growth of the panelized modular building systems market.
  • Residential construction dominated the market. It is likely to grow during the forecast period due to the rising demand for residential dwellings in Asia-Pacific, North America, and Europe.
  • Asia-Pacific dominates the global market. It is likely to witness the highest growth during the forecast period due to the residential and commercial construction activities.

Key Market Trends


Residential Segment to Dominate the Market

  • Panelized modular building systems incorporate construction techniques that use advanced technology, quality materials, and 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.
  • North America is witnessing growth in residential construction, widely driven by the high demand for residential houses in North America. Residential construction is also growing in Europe.
  • The construction sector in the Asia-Pacific region is the largest globally. It is growing at a healthy rate due to the rising population, increasing middle-class income, and urbanization.​
  • The South Korean government outlined its plan to build 300,000 housing units at the end of 2018, which were to be delivered to the public by the end of 2022, with plans to build 35,000 housing units in the first phase. ​
  • India is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, during which it is likely to witness the construction of 60 million new homes.
  • In India, the residential construction sector was estimated to slow down due to COVID-19 during 2020-2021. The sector’s growth is expected to speed up after 2021, continuing its growth trajectory during the forecast period. ​
  • According to the Canadian Real Estate Association, the number of housing units sold in Canada in 2019 was 489 thousand, which was expected to reach 583 thousand in 2021.​
  • With the increasing popularity of the off-site construction method, using panelized components in Europe is expected to offer numerous opportunities for the market's growth.
  • Based on the aforementioned aspects, the residetial segment is expected to dominate the market.


Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. Modular construction is witnessing strong growth in the region, driven by the growing residential, commercial, and infrastructure construction.
  • In Asia-Pacific, China holds the largest share. The rising income levels, combined with the population migrating from rural to urban areas, are expected to drive the demand for residential construction in the country. The increased focus on affordable housing by the public and private sectors is also driving the residential construction sector.
  • Non-residential infrastructure is expected to grow considerably. The aging population in the country is creating a demand for the construction of healthcare facilities and new hospitals. The structural changes in the Chinese economy over the past few years, with the service sector taking a larger share in the total GDP, gave rise to the construction of huge commercial and office spaces.
  • Japan also holds a significant share in the market studied. Prefabricated housing is common in Japan, from multi-unit apartments in Tokyo to modest bungalows in far-out villages to expansive luxury homes in the suburbs.
  • Japan's panelized modular construction market is comparatively mature and developed compared to other regions worldwide. In Japan, around 15% of new housing construction is prefabricated.
  • One of the biggest redevelopment projects in Japan includes the Yaesu redevelopment project for old buildings, new offices, hotels, residential, retail, and educational facilities, which are due to be completed by 2023. Other projects include Shibaura Chome redevelopment and new Shimbashi building redevelopments.
  • Thus, such a scenario is estimated to continue during the forecast period, thus Asia-Pacific region is expected to dominate the market.


Competitive Landscape


The panelized modular building systems market is fragmented, with many players holding insignificant shares to individually affect the market demand. Some of the major players in the market(in no particular order) include Kingspan Timber Solutions (Kingspan Group), Robertson Group Ltd, Etex Building Performance, Hunter Douglas Group, and Metek PLC.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

FEATURED COMPANIES

  • Algeco
  • Frame Homes UK
  • Hunter Douglas Group
  • KLH UK Limited
  • Metek PLC
  • Pinewood Structures

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
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 and Policies
4.2 Restraints
4.2.1 Transportation Logistics Requirements
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
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
5.1.3 Concrete
5.1.4 Other Product Types
5.2 End-user Industry
5.2.1 Residential
5.2.2 Commercial
5.2.3 Infrastructure
5.2.4 Industrial and Institutional
5.3 Panel Type
5.3.1 Wall Modules
5.3.2 Roof Panels
5.3.3 Floor Panels
5.3.4 Other Panel Types
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 ASEAN Countries
5.4.1.6 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Algeco
6.4.2 SAINT-GOBAIN Brüggemann Holzbau GmbH
6.4.3 Etex Building Performance
6.4.4 Frame Homes UK
6.4.5 Fusion Building Systems
6.4.6 Hunter Douglas Group
6.4.7 Innovare
6.4.8 Kingspan Timber Solutions (Kingspan Group)
6.4.9 KLH UK Limited
6.4.10 Merronbrook Ltd
6.4.11 Metek PLC
6.4.12 Modern Prefab Systems Pvt. Ltd Inc.
6.4.13 Oregon Timber Frame Ltd
6.4.14 Pinewood Structures
6.4.15 Robertson Group Ltd
6.4.16 SIP Building Systems
6.4.17 SIPs Eco Panel Systems Ltd
6.4.18 Taylor Lane Timber Frame Limited
6.4.19 Thorp Precast Ltd
6.4.20 Walker Timber Engineering
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)

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A selection of companies mentioned in this report includes:

  • Algeco
  • SAINT-GOBAIN Brüggemann Holzbau GmbH
  • Etex Building Performance
  • Frame Homes UK
  • Fusion Building Systems
  • Hunter Douglas Group
  • Innovare
  • Kingspan Timber Solutions (Kingspan Group)
  • KLH UK Limited
  • Merronbrook Ltd
  • Metek PLC
  • Modern Prefab Systems Pvt. Ltd Inc.
  • Oregon Timber Frame Ltd
  • Pinewood Structures
  • Robertson Group Ltd
  • SIP Building Systems
  • SIPs Eco Panel Systems Ltd
  • Taylor Lane Timber Frame Limited
  • Thorp Precast Ltd
  • Walker Timber Engineering

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