Off-site Construction Market worth USD 369.72 Bn. by 2029

(EstateNewsWire.com, January 09, 2023 ) According to the “Off-site Construction Market” report published by Maximize market Research, the market is expected to grow from USD 235.5 billion in 2021 to USD 369.72 billion in 2029, at a CAGR of 5.8 percent for the forecast period from 2022 to 2029.

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Off-site Construction Market Scope and Research Methodology

The methods used to collect information for the report consist of four major activities. These activities assist in determining the current market size for Offsite Construction. Secondary research was conducted extensively to get information on the Offsite Construction market, such as new technologies entering the market and components associated with this market. The acquired data was then confirmed with professionals from the Manufacturing and Construction industries across all value chains via primary research. The market size was estimated using both top-down and bottom-up methodologies.

Off-site Construction Market Overview

Growing construction activities, rapid urbanization and industrialization, increasing government initiatives to promote green buildings throughout the world, and rising demand for prefabricated products in commercial construction activities are key drivers driving market revenue development. Off-site construction is a process that involves the precise and rapid planning, design, manufacturing, and movement of manufactured building components.

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Off-site Construction Market Dynamics

Rapid urbanization and industrialization, increased construction speed, and the high efficiency of offsite building in developing countries are driving the growth of the global offsite construction market. However, the industry is hampered to some extent by the instability of offsite building in earthquake-prone areas, as well as a shortage of professional personnel and infrastructure in developing countries. Conversely, increased infrastructure investment creates new opportunities in the coming years.

Off-site Construction Market Regional Insights

North America is expected to dominate the off-site construction market throughout the forecast period. China and the United States are likely to lead the offsite construction market throughout the forecast period. The manufacturing and construction markets in this region are expected to develop throughout the forecast period due to rising population, rising per capita income, and rising living standards.

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Off-site Construction Market Segmentation

By Material:

Steel

Wood

Concrete

Other

By Construction Type:

Fixed

Movable

By Application:

Residential

Commercial

Industrial

Off-site Construction Market Key Competitors:

ATCO

Anderco Pte. Ltd

Giant Containers Inc

Honomobo Corporation

Lendlease Corporation

SG Blocks Inc

Skanska AB

Blokable Inc.

Maximize Market Research is leading research firm, has also published the following reports:

Modular Construction Market -The Modular Construction Market size was valued at US$ 75.89 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 6.1% through 2022 to 2029, reaching nearly US$ 121.88 Bn. Government rules aimed at reducing construction waste and promoting green buildings are driving the global modular construction market.

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