Spain Prefabricated Buildings Industry - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Spain Prefabricated Buildings Industry is expected to grow from USD 3.49 billion in 2024 to USD 4.69 billion by 2029, at a CAGR of 6.13% during the forecast period (2024-2029).

With the housing crisis kicking in, the government plans to invest huge funds to overcome the affordable housing crisis during the forecast period. The Ministry of Transport, Mobility, and Urban Agenda in its 20,000 Housing Plan aim to increase the public housing stock for affordable rent.

Currently, public housing stock which represents only 2.5% of the total housing in Spain, which is around 642,500 floors. Through this plan, the government aims to increase this to 8% by 2030. To achieve this, the Ministry has contributed around USD 62 million, which together with the contributions of the Autonomous Communities and City Councils, has a total investment of USD 370 million.

During the forecast period (2020-2025), the industry's output will be supported by improvements in consumer and investor confidence. The administration's efforts to upgrade local connectivity through the advancement of the nation's transport framework, combined with efforts to boost the affordable residential construction market, will bolster the sector growth over the conjecture time frame.

An increase in the number of new structure licenses gave is required to help new construction activity over the estimated time frame. Moreover, the administration's plan to extend sustainable power source assets is relied upon to pull in interests in energy infrastructure ventures, which will thusly fuel development in the business.

Spain Prefabricated Buildings Market Trends

Planned Investments in Transportation and Infrastructure Market Drives the Prefab Sector

The prefab sector in Spain is expected to grow during the forecast period driven by the government's focus on infrastructure in the country. Continued growth in the modular and prefab construction industry is expected over the next few years, supported by road and rail infrastructure expansion.

All sectors, including housing, non-residential construction, and civil engineering, are expected to expand in volume. Investments in infrastructures amounted to USD 11,308 million in 2019, which represents an increase of 11.6% over the budgeted amount in 2018. Transport sectors such as railways and roads accounted for almost 70% of the total investment. Moreover, in 2020 the Government has adopted the decision to invest almost USD 2255 million to carry out the expansion of Barajas Airport (Madrid) and ease mobility, with two extensions of the underground line, in the region of Madrid.

Spain focuses on implementing a series of measures to guarantee compliance with the "Sustainable Development Goals" for 2030, which require the improvement of the infrastructure system and the necessary investment has amounted to USD 116840 million. The Government plans to launch a two-year housing rehabilitation and restoration plan that will involve mobilizing an investment of around USD 2245 million during the years 2020-2022 through Investment and Reform Plan.

Precast Concrete Holds Largest Share in the Market

Precast concrete holds the largest share in the market driven by the increase in the off-site construction activity. The rampant infrastructure development held by the government in the country has driven the high demand for supporting materials such as concrete which is also quite large. It is also expected to exhibit growth with a rise in non-residential and residential construction due to rising urbanization.

This growth can be attributed to the increasing awareness amongst builders, architects, constructors, and end-users regarding the advantages of using precast concrete. The precast concrete construction technology is one of the most promising solutions to deal with the rising demand for housing and infrastructure construction. The industry revenue of the manufacture of concrete products for construction in Spain has seen constant growth during the review period from 2016 to 2019.

The value amounted to USD 1400 million in 2019, an increase of approximately 21% of the revenue generated in the year 2016, which is approximately USD 1140 million. The revenue generated is expected to witness a multi-fold increase during the forecast period driven by the market for the prefabricated construction sector in the infrastructure industry.

Spain Prefabricated Buildings Industry Overview

The report covers the major players operating in the Spain Prefabricated Buildings Industry. The market is fragmented, highly competitive with a few players occupying the major share. The market is expected to grow during the forecast period due to the increase in the prefab construction building start-ups, up-coming major projects in the country, and other few factors that are driving the market. The group EUROPA PREFABRI is a Spanish company leader in the innovative sector of the prefabricated construction industry.

Prefabricated building systems and construction hold high potential to improve the efficiency and performance of the Spain construction industry in a more sustainable sense. Construtech Ambar wants to take the hassle out of the millions of consumers across the country who are either building or renovating their homes with an all-in-one automation platform.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.