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The Market of Prefabricated Building During the Period 2019-2025

Views: 2     Author: Site Editor     Publish Time: 2020-08-28      Origin: Site

The prefabricated building market is expected to grow at a CAGR of over 8% during the period 2019-2025.

The prefabricated building market is likely to grow significantly due to the rise in infrastructure development and the growth in residential and commercial sectors. Prefab houses are affordable and can be built in less time, which is expected to positively influence the market in the APAC region due to the growing middle-class population and rapid urbanization.

Prefab buildingfcs are energy-efficient and high on sustainability. The increasing awareness of construction wastage on the environment has driven people worldwide to adopt the green buildings concept, which is expected to bolster the market, especially in developed regions. Government-sponsored initiatives in developing countries to provide affordable houses in less time is another major factor affecting growth.

Prefabricated construction provides structural strength that allows buildings to withstand earthquakes. Hence, prefab buildings are likely to generate demand from seismic-sensitive countries such as Japan, China, Iran, Indonesia, Turkey, Mexico, and Nepal.

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