Boston, MA -- (ReleaseWire) -- 02/28/2014 -- In terms of growth, the global prefabricated buildings market recorded a review-period (2008?2012) CAGR of 1.92%. The growth was subdued by a 15% decline in the market in 2009, due to the financial crisis. Construction activity slowed, and consequently the demand for prefabricated buildings declined. The market is expected to record a forecast-period CAGR of 8.59% due to construction industry growth, residential development in emerging economies and the easing of the financial crisis in Europe. Continuing economic uncertainty in the Eurozone is expected to reduce the market shares of the European region over the forecast period. Developing economies in the Asia-Pacific region, such as China, India and Indonesia are expected to support the market's expansion due to the demand for residential construction in these locations.
- The global prefabricated buildings market valued US$90.1 billion in 2012. Asia-Pacific was the largest regional market, accounting for 49.3% of the global market.
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- The Asia-Pacific prefabricated buildings market valued US$44.4 billion in 2012, and recorded a review-period CAGR of 16.23%, outperforming all other regional markets. China constituted the largest share of the Asia-Pacific market with 61% in 2012, followed by Japan, Australia and Indonesia with respective shares of 22.3%, 6.8% and 5.1%.
- The European prefabricated buildings market valued US$31.5 billion in 2012, with Italy accounting for the largest share with 25.4%, followed by Germany, France, the UK and Russia with respective shares of 12.7%, 10.7%, 9.2% and 8.5%. The 2009 financial crisis and subsequent European debt crisis were detrimental to the European construction industry, and caused the prefabricated buildings market to record a review-period CAGR of -6.68%.
- The North American prefabricated buildings market valued US$10.2 billion in 2012. The US was the largest market with a 74.8% share. Demand for prefabricated buildings declined as a result of the housing crisis and recession, causing the North American prefabricated buildings market to record a review-period CAGR of -7.69%.
- The Middle Eastern prefabricated buildings market was the second-smallest regional market for in 2012, valuing US$2.9 billion and accounting for a 3.2% share of the global market.
- The construction of prefabricated houses has been used for more than five decades in developed economies. Awareness of environmental issues has provided opportunities for the sustainable buildings market over the traditional buildings market. Due to the government's focus on improving the energy efficiency of buildings, demand for prefabricated buildings is growing rapidly.
This report provides a comprehensive analysis of the global prefabricated buildings market:
Companies Mentioned in this Report: Kirby Building Systems, LLC, Butler Manufacturing Company, Red Sea Housing Services Co., Ltd, Vardhman Building Systems, Galco
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