The prefabricated construction industry in Australia is expected to grow by 11.9% to reach AUD 14.57 billion in 2024.
The medium to long-term growth story in Australia remains intact. The prefabricated construction industry in Australia is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 11.2% during 2024-2028. The prefabricated construction output in the country is expected to reach AUD 22.28 billion by 2028.
The Australian prefabricated construction industry is poised to record strong growth over the medium term. The growth will be led by government initiatives, which aim to tackle the housing shortage problem in Australia. Developers are also trailing prefabricated technology to fast-track the housing supply in Australia in 2024. Firms are also expanding their manufacturing capacities to meet the growing demand for modular homes.
Evoke Living Homes, for instance, announced that the firm has set up a factory at Northam in the Wheatbelt region in April 2024. The prefabricated construction market will also receive growth support from the data center market, where the adoption of prefabricated modules is rising rapidly. Overall, the publisher maintains a positive growth outlook for the industry in Australia over the next three to four years.
To tackle these problems, including labor shortages and project delays, developers are now trailing prefabricated construction methods. This is part of their strategy to fast-track housing supply in Australia in 2024 and beyond. Housing giant Mirvac, following the lead of Scandinavian countries, is trailing the technology in Australia. The firm has been able to reduce the construction times of new units to 12 weeks.
Other firms are seeking to expand their production capacity to deal with the substantial housing shortfall in Australia. Evoke Living Homes, for instance, announced that the firm has set up a factory at Northam in the Wheatbelt region in April 2024. For this, the firm received the assistance of A$200,000 under the Regional Economic Development grant from the state. With the expanded production facility, the firm will be able to increase the manufacturing by 20%, while cutting down on construction delays.
This market intelligence report provides a detailed view of market opportunities in the prefabricated building construction industry with over 100+ KPIs, covering end markets, prefabricated/precast materials, and products in Australia. This is a databook offering, which primarily provides data-centric analysis with charts and tables.
The medium to long-term growth story in Australia remains intact. The prefabricated construction industry in Australia is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 11.2% during 2024-2028. The prefabricated construction output in the country is expected to reach AUD 22.28 billion by 2028.
The Australian prefabricated construction industry is poised to record strong growth over the medium term. The growth will be led by government initiatives, which aim to tackle the housing shortage problem in Australia. Developers are also trailing prefabricated technology to fast-track the housing supply in Australia in 2024. Firms are also expanding their manufacturing capacities to meet the growing demand for modular homes.
Evoke Living Homes, for instance, announced that the firm has set up a factory at Northam in the Wheatbelt region in April 2024. The prefabricated construction market will also receive growth support from the data center market, where the adoption of prefabricated modules is rising rapidly. Overall, the publisher maintains a positive growth outlook for the industry in Australia over the next three to four years.
Developers are trailing prefabricated technology to fast-track housing supply in Australia in 2024
To tackle the housing crisis, Australia has agreed to build 1.2 million new homes over the next five years. However, the ambitious target is threatened due to the shortage of construction workers in Australia. The shortage of skilled labor has also resulted in project delays, having a negative growth impact on developers. This has been a major reason behind the downfall of several residential developers over the last 12 months in Australia.To tackle these problems, including labor shortages and project delays, developers are now trailing prefabricated construction methods. This is part of their strategy to fast-track housing supply in Australia in 2024 and beyond. Housing giant Mirvac, following the lead of Scandinavian countries, is trailing the technology in Australia. The firm has been able to reduce the construction times of new units to 12 weeks.
Other firms are seeking to expand their production capacity to deal with the substantial housing shortfall in Australia. Evoke Living Homes, for instance, announced that the firm has set up a factory at Northam in the Wheatbelt region in April 2024. For this, the firm received the assistance of A$200,000 under the Regional Economic Development grant from the state. With the expanded production facility, the firm will be able to increase the manufacturing by 20%, while cutting down on construction delays.
Prefabricated data centers are gaining increasing traction in the Australian market in 2024
Modular prefab data centers are becoming popular among businesses in Australia. The growing trend has resulted in firms doubling down on their modular business while exiting their traditional data centers.- DXN, in February 2024, announced that the firm will supply a prefabricated data center to Australian mining firm Stanmore. The data center project is valued at US$1.2 million. The modules for the project will be developed at DXN’s factory in Perth. The delivery for the project is slated for July 2024.
NSW Planning and Public Spaces Minister vouched for modular construction to address housing crisis
Across Australia, modular housing solutions have been trialed with great success. Many regional governments are touting prefabricated construction methods as an efficient solution to alleviate supply-side issues. The Western Australian government, in 2023, revealed that over 200 prefabricated homes were being built as part of the A$2.4 billion plan to combat homelessness. The Victorian government, in 2022, also announced an A$30.38 million plan to build 114 energy-efficient modular homes.- NSW Planning and Public Spaces Minister Paul Scully, in January 2024, recognized modular construction as a key solution to the state's housing crisis. Currently, there are more than 50,000 people on the social housing waitlist in NSW. The minister emphasized the urgent need to build 377,000 new houses and highlighted that modular housing is faster and more efficient than traditional construction methods.
This market intelligence report provides a detailed view of market opportunities in the prefabricated building construction industry with over 100+ KPIs, covering end markets, prefabricated/precast materials, and products in Australia. This is a databook offering, which primarily provides data-centric analysis with charts and tables.
- End Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the prefabricated industry in Australia.
- Prefabricated Methods: Provides an in-depth analysis of industry across 3 methods- panelised construction, modular (Volumetric) construction, and hybrid (Semi-volumetric) construction in Australia.
- Prefabricated Materials: Provides demand analysis across 7 key materials such as aluminum, wood, iron & steel, concrete, glass, and other.
- Prefabricated Products: Provides demand analysis of market by 7 key products such as building superstructure, roof construction, floor construction, interior room modules, exterior walls, columns & beams, and other.
Scope
This report provides a detailed data-centric analysis of the prefabricated construction industry, covering market opportunity, and industry dynamics by prefabricated materials, methods, and products across various construction sectors. In addition, it provides market size and forecast of the prefabricated industry covering end markets along with demand analysis in Australia. With over 100 KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.Australia by Building Construction Sector
- Residential
- Single-Family
- Multi Family
- Commercial
- Office
- Retail
- Hospitality
- Other
- Institutional
- Industrial
Australia by Prefabrication Methods
- Panelised construction
- Modular (Volumetric) construction
- Hybrid (Semi-volumetric) construction
Australia by Prefabricated Material
- Aluminium
- Wood
- Iron & Steel
- Concrete
- Glass
- Other
Australia by Prefabricated Product
- Building Superstructure
- Roof Construction
- Floor Construction
- Interior Room Modules
- Exterior Walls
- Columns & Beams
- Other
Australia by Prefabricated Product
- Aluminium (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Wood (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Iron & Steel (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Concrete (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Glass (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Other (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
Australia by Prefabrication Construction Sector
- Residential (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Commercial (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Industrial (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
- Institutional (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
Reasons to buy
- In-depth Understanding of Prefabricated/Precast Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 50+ market segments.
- Deeper Segmentation of Prefabricated Product Analysis: Market size and forecast by prefabricated products, materials, and construction sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in prefabricated/precast construction industry in Australia.
- Comparable Data: Get detailed and comparable data for the prefabricated/precast market size. The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Table of Contents
1. About this Report
3. Australia Prefabricated Building Construction Market Dynamics by Prefabrication Methods
4. Australia Prefabricated Product Demand Analysis and Outlook
5. Australia Prefabricated Material Demand Analysis and Outlook
6. Australia Prefabricated Market Dynamics and Outlook by Construction Sector
7. Australia Residential Prefabricated Construction Market Dynamics and Outlook
8. Australia Commercial Prefabricated Construction Market Dynamics and Outlook
9. Australia Residential Construction Demand Analysis and Outlook by Prefabricated Products
10. Australia Commercial Construction Demand Analysis and Outlook by Prefabricated Products
11. Australia Industrial Construction Demand Analysis and Outlook by Prefabricated Products
12. Australia Institutional Construction Demand Analysis and Outlook by Prefabricated Products
13. Australia Prefabricated Building Superstructure Demand Analysis by Material
14. Australia Prefabricated Roof Demand Analysis by Material
15. Australia Prefabricated Floor Demand Analysis by Material
16. Australia Prefabricated Interior Room Modules Demand Analysis by Material
17. Australia Prefabricated Exterior Walls Demand Analysis by Material
18. Australia Prefabricated Columns and Beams Demand Analysis by Material
19. Further Reading
List of Figures
List of Tables