Market Size of United Kingdom Prefabricated Buildings Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 7.38 Billion |
Market Size (2029) | USD 9.96 Billion |
CAGR (2024 - 2029) | 6.17 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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UK Prefabricated Buildings Market Analysis
The United Kingdom Prefabricated Buildings Industry is expected to grow from USD 7.38 billion in 2024 to USD 9.96 billion by 2029, at a CAGR of 6.17% during the forecast period (2024-2029).
The ease of construction, affordability, and fast delivery drive the market. Furthermore, the market is driven by the huge investments coming into the market.
Modular construction is becoming more and more popular in the European region as a result of population growth and housing shortage. Modular construction is becoming increasingly popular as an affordable housing option. More and more modular homes are being built in the UK. The leading construction companies, investors, and the leading developers in the UK are looking for the best prefabrication solutions. The growing investment in the UK modular construction sector is also contributing to the development of the UK prefab industry.
Modular housing is relatively new in the UK compared to countries like Japan and Germany, where it’s more established, and it’s still essentially a loss-making industry. But the good news is that faster construction of high-quality homes could be part of the solution to the UK’s long-term housing problem.
According to estimates from Make UK Modular, the industry will have the capacity to construct 20,000 new modular homes in 2025, which would be one-fifth of the annual shortfall of 100,000 homes. The government has set itself a target of creating 300,00 new homes per year by 2025, with official figures showing that 204,500 new homes were constructed in the 12 months to March 2022.
UK Prefabricated Buildings Industry Segmentation
Prefabricated buildings, also known as prefabs, are structures made up of components (walls, roof, and floor) that are produced in a factory or manufacturing plant. These components can be completely or partially assembled in a factory before being transported to the job site. This method of building construction is preferred because of its low cost, quick turnaround, and reusability. Prefabricated buildings are commonly used for temporary construction facilities, office spaces, medical camps, evacuation centers, schools, apartment buildings, and single-family homes.
A complete background analysis of the United Kingdom Prefabricated Buildings Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.
The United Kingdom's prefabricated buildings market is segmented by material type (concrete, glass, metal, timber, and other material types) and by application (residential, commercial, and other applications (infrastructure and industrial)). The report offers market size and forecast values (USD) for all the above segments.
Material Type | |
Concrete | |
Glass | |
Metal | |
Timber | |
Other Material Types |
Application | |
Residential | |
Commercial | |
Other Applications ( Industrial, Institutional, and Infrastructure) |
United Kingdom Prefabricated Buildings Industry Size Summary
The United Kingdom Prefabricated Buildings Market is poised for significant growth, driven by factors such as ease of construction, affordability, and rapid delivery. The market is experiencing increased interest due to substantial investments and the rising popularity of modular construction as a solution to the housing shortage. Despite being relatively new in the UK compared to countries like Japan and Germany, modular housing is gaining traction as an affordable housing option. The sector's expansion is supported by the efforts of leading construction companies and investors seeking innovative prefabrication solutions. The government's ambitious housing targets further underscore the potential of modular construction to address the UK's long-term housing challenges.
The demand for precast concrete and structural building components is on the rise, fueled by the need for sustainable and cost-effective building materials. These components offer benefits such as fast installation, ease of maintenance, and reduced costs, making them attractive to both residential and commercial sectors. The introduction of next-generation factory-built modular homes is set to revolutionize the housing industry, with plans to produce energy-efficient, low-carbon homes at an accelerated pace. The market is characterized by fragmentation and competition, with major players like Barratt Developments, Bellway Homes, and Berkley Group leading the charge. Investments in prefab construction and strategic acquisitions are further propelling the market forward, highlighting its dynamic and evolving nature.
United Kingdom Prefabricated Buildings Industry Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technological Trends
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1.3 Insights on Supply Chain/Value Chain Analysis of the Prefabricated Buildings Industry
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1.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
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1.5 Cost Structure Analysis of the Prefabricated Buildings Industry
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1.6 Impact of COVID 19
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2. MARKET SEGMENTATION
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2.1 Material Type
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2.1.1 Concrete
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2.1.2 Glass
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2.1.3 Metal
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2.1.4 Timber
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2.1.5 Other Material Types
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2.2 Application
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2.2.1 Residential
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2.2.2 Commercial
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2.2.3 Other Applications ( Industrial, Institutional, and Infrastructure)
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United Kingdom Prefabricated Buildings Industry Market Size FAQs
How big is the United Kingdom Prefabricated Buildings Industry?
The United Kingdom Prefabricated Buildings Industry size is expected to reach USD 7.38 billion in 2024 and grow at a CAGR of 6.17% to reach USD 9.96 billion by 2029.
What is the current United Kingdom Prefabricated Buildings Industry size?
In 2024, the United Kingdom Prefabricated Buildings Industry size is expected to reach USD 7.38 billion.