ASIA-PACIFIC PREFABRICATED CONSTRUCTION MARKET FORECAST 2023-2032

The Asia-Pacific prefabricated construction market growth evaluation includes the assessment of China, Thailand, South Korea, Australia & New Zealand, India, Indonesia, Japan, Vietnam, and Rest of Asia-Pacific. China is a significant market in the global construction industry. The country’s major emphasis is on developing robust infrastructure. Also, the China prefabrication building market has gained traction in the last five years. For instance, as per the prefabricated building action plan, the prefabricated buildings’ share in new areas reached 15% by 2020. In addition, the government has developed a structured framework to supplement prefabricated construction.

Moreover, China is a leading producer of modular building products globally. It has more than 7,000 prefab manufacturers that encompass many small- and medium-scale component manufacturing companies. Additionally, several manufacturers have procured numerous large investment prefab construction deals in the past few years. 

Furthermore, the South Korean market is placing greater emphasis on prefabricated construction. For instance, in December 2018, Samsung C&T’s Engineering & Construction Group announced the opening of a modular shop in Cheonan, South Chungcheong Province, South Korea. Additionally, the South Korean government revised a law in April 2012 that facilities the application of prefab technology to residential housing complexes. Besides, the Ministry of Land, Infrastructure, and Transportation planned an R&D project to build five-story modular houses. Such factors propel market growth in these countries.

The Asia-Pacific prefabricated construction market segmentation includes application, system, and material. The system segment includes skeleton system, combined system, cellular system, panel system, and other systems.

Large slab components produced in factories and assembled on-site are used to construct prefabricated parts of structures and buildings. Large-panel frameworks are cutting-edge industrial structural components. They are deployed in public & commercial structures, canals, dams, airports, roads, and apartment buildings. Panel system minimizes construction labor costs by 30%- 40% and time to 15-20 days than traditional systems. 

Furthermore, large panel structures can be used to construct major components of a building, including staircases, roofs, floor slabs, and internal & external walls. Two primary design paradigms, panel and frame-panel buildings, use large-panel frameworks. 

Whereas the skeleton system is frequently used to construct multi-story buildings. It is a system of columns and beams that support the exterior walls and interior floors of the building, thereby transferring all weight to the foundation. Different materials, like wood, concrete, and structural steel, can be used to build these frameworks. Also, skeletal frameworks are typically used for comparatively low-rise buildings without partitions. 

Some of the eminent firms in the Asia-Pacific prefabricated construction market include Moelven, Segezha Group, Ritz-Craft Corporation, Sekisui, etc.

Sekisui provides residential and social infrastructure solutions. The company, initially formed to commercialize plastic in Japan, promotes environmental-friendly business solutions. The business activities of the company cover a vast and varied range of areas comprising 25 technological platforms. It has head offices in Tokyo and Osaka, Japan. 

The company’s housing renovation solution refurbishes homes using long-term support systems at each stage of their life.