India Prefabricated Buildings Market Competition, Forecast and Opportunities, 2029

India Prefabricated Buildings Market is anticipated to register a healthy CAGR during the forecast period.

Prefab houses sometimes referred to as prefabricated homes, are ones that have been built using prefabricated construction materials. These construction materials are prefabricated in a facility off-site, transported there, and then put together. Prefabricated houses combine conventional home ownership with modern technologies. Utilizing various techniques, such as 3-D printing, these dwellings are constructed in advance and erected off-site. Modular dwellings are defined as having at least 70% of their components prefabricated. This facilitates disassembling, moving, and assembling these dwellings. Prefab homes are less expensive, more environment friendly, and more aesthetically pleasing than traditional residences. Prefab houses are built with concrete-based and metal-fabricated construction elements. The lack of raw resources has presented a number of problems for manufacturing enterprises. Additionally, the suspension of construction contracts has slowed the market expansion for prefabricated buildings. The decline in building and construction activities has had a substantial influence on market growth since it has reduced demand for prefabricated building systems. India will need 50 million houses by 2022, and there are more than 90 proposed smart cities. Industry analysts predict that prefabricated housing and off-site building will be essential to accomplishing such large targets in such a short period of time.

Government Initiatives in the Infrastructure and Construction Sector

In India, there is a record-high need for infrastructure. The government has given Real Estate Investment Trust (REIT) approval to help investors come forward and invest in the Indian real estate market as it looks to accelerate the growth of infrastructure in the country. As a result, an opportunity worth USD 19.65 billion will be created in the Indian market over the coming years. The government intends to introduce the most recent technology to the building industry through the Global Housing Technology Challenge.

The country has set aside USD 29.2 billion for the Smart-Communities project, which aspires to build sustainable, world-class cities. By June 2020, investments totaling USD 16.5 billion had completed 75% of the planned projects. The national government has allocated a sum of USD 16.5 million for HRIDAY, a program to develop heritage cities. The infrastructure and construction sector is expected to experience tremendous expansion as a result of several other government projects and plans, including AMRUT and PMAY (Pradhan Mantri Awas Yojana, a national housing program). This would in many ways boost the prefabrication market.

Precast Concrete Holds Largest Share in the Market

Due to a rise in building activities off-site, precast concrete now retains the biggest market share. The country's government is actively developing its infrastructure, which has led to a strong demand for building supplies such as concrete, that is also relatively high. A increase in non-residential and residential development is anticipated due to growing urbanization.

In order to meet the growing demand for housing and infrastructure building, precast concrete construction technology is one of the most promising options. Between April 2019 and January 2020, cement output decreased to 278.79 million tonnes from 337.32 million tonnes in 2018-19. Cement and gypsum products attracted Foreign Direct Investment (FDI) worth USD 5.28 billion between April 2000 and December 2019, according to statistics made public by the Department for Promotion of Industry and Internal Trade (DPIIT).

Cement and concrete are now utilized most in housing (67%), infrastructure (13%), commercial real estate (11%), and industrial real estate (8%). Over the next three years, cement producers are expected to boost capacity to over 56 metric tonnes in order to fulfil this growing demand for precast materials. The need for ready mix concrete in India is being driven by a number of reasons, including rapid urbanization, population growth, and increased government attention to infrastructure development.

Transportation Issues Associated with Prefabricated Building Systems

Prefabricated construction is now regarded as a rapid, environment-friendly, and economical method of construction. While prefabricated towers and skyscrapers have recently become popular for bigger projects, this technique has historically been more frequently employed for modest residential buildings. Prefabricated pieces need to be put together at the facility before being brought to the site to be put together. This procedure comes with a number of dangers, including delayed or damaged deliveries, high transportation costs, and more. Prefabricated building solutions that are designed for performance may appear ideal in theory, but they lack customization and attention to detail. By producing items off-site rather than on-site, a separation develops between the architect and the manufacturer. Furthermore, any inexpensive substitute would put the need for prefabricated building technology in jeopardy. Therefore, the prefabricated building systems' transportation-related problems might limit market expansion throughout the forecast period.

Market Segmentation

The India Prefabricated Buildings Market is divided on the basis of size, structure and application. Based on size, the market is further bifurcated into single family and multiple family. On the basis of structure, the market is further segmented into skeleton system, panel system, cellular system, and combined system. On the based on application, the market is further divided into residential, commercial, and industrial.

Market Players

Major market players in India Prefabricated Buildings Market are Everest Industries Limited, Satec Envir Engineering (India) Private Limited, E-PACK Polymers Pvt. Ltd., Speed 4 Prefab Solutions Pvt. Ltd., Balarka Fabricon Private Limited, Loom Crafts Shade Systems Pvt Ltd,ASS Engineers India Pvt. Ltd, Primex Building Systems Pvt Ltd, Champion Prefabs Pvt Ltd and Interarch Building Products Pvt. Ltd.

Report Scope:

In this report, the India Prefabricated Buildings Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Prefabricated Buildings Market, By Size:

• Single Family
• Multiple Family

India Prefabricated Buildings Market, By Structure:

• Skeleton System
• Panel System
• Cellular System
• Combined System

India Prefabricated Buildings Market, By Application:

• Residential
• Commercial
• Industrial

India Prefabricated Buildings Rental Market, By Region:

• North India
• South India
• West India
• East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Prefabricated Buildings Market.

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