Europe Prefabricated Buildings Market Size Set to Reach USD 32.7 Billion by 2029

Published | 18 February 2023

Europe Prefabricated buildings market is flourishing because of increasing supportive government regulations and policies, a surging demand for prefabrication buildings in various countries, including Türkiye and Ukraine, of the region, and growing investments in infrastructure development.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe prefabricated buildings market size at USD 23.23 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Europe prefabricated buildings market size to grow at a steady CAGR of 5.04% reaching a value of USD 32.71 billion by 2029. Major growth drivers for Europe prefabricated buildings market include growing infrastructure investments and increasing supportive government regulations and policies. As demand for higher-quality, environmentally friendly homes grow across the continent, the market is expanding, with the UK and Germany accounting for major market share. The use of additive manufacturing in Europe is likely to improve the prefabricated construction business significantly. Businesses use environmentally friendly products and manufacturing techniques to distinguish themselves from the competition. Focusing on energy efficiency has resulted in the invention of energy-absorbing materials such as micro homes. Prefabricated housing demand is increasing as the benefits of the building process are increasingly being tapped by new home buyers in an improving economic and demographically dynamic market. An estimated 70,100 units were sold across six Northern European nations by the end of 2022, with German demand constituting a sizable level, particularly for turnkey systems. However, scarcity of skilled labor is anticipated to impede the growth of Europe prefabricated buildings market.

Europe Prefabricated Buildings Market – Overview

Prefabricated homes, often known as prefab homes, are ones that were built using prefabricated building materials. These building materials are prefabricated in a facility off-site and then delivered to the intended place for assembly. Prefabricated homes are a hybrid of traditional home ownership and cutting-edge technology. These homes are prefabricated in off-site locations utilizing various processes such as 3-D printing and then erected on-site. Modular homes are those that are at least 70% prefabricated. Although prefabricated homes are built on fixed foundations, their structures are prefabricated in pieces. This facilitates the dismantling, transfer, and construction of these homes.

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Impact of COVID -19 on Europe Prefabricated Buildings Market

COVID-19 had a detrimental impact on prefabricated buildings market across Europe. The pandemic caused significant uncertainty for vendors and contractors in Europe's construction industry. Due to lockdowns and limitations, some construction businesses had to halt their operations. Yet, due to acute needs in the hospital and quarantine sectors, demand for prefabricated materials increased. Because traditional construction requires a large crew, prefabricated buildings proved the best option during the pandemic.

Country-wide Urban Redevelopment Projects in Türkiye and Ukraine

Major companies in Europe prefabricated buildings market are expected to gain from significant opportunities provided by the massive infrastructure projects in earthquake-hit Türkiye and war-ravaged Ukraine.

In Türkiye, analysts estimated that the urban redevelopment across the country post the earthquake would provide huge opportunities for the construction and related industries in total investment of more than USD 250 billion. On February 06, 2023, a 7.8-magnitude of earthquake hit Türkiye and Syria, killing tens of thousands of people and severely damaging infrastructure in cities and villages across its fault line. The President of Türkiye announced that the government would engage in a comprehensive construction program to rebuild cities with safety and sustainability.

In Ukraine, Russia’s war in the country has been continuing for more than a year now. Consequently, infrastructure across Ukraine has been severely damaged. In September 2022, Ukraine government, the European Commission, and the World Bank, along with their partners estimated the cost of Ukraine’s reconstruction and recovery would be about USD 350 billion. As the war continues, the cost is anticipated to escalate.

Massive redevelopment projects in Türkiye and Ukraine are expected to provide lucrative growth opportunities for construction and supplementary industries. It, in turn, is projected to aid the growth of Europe prefabricated buildings market during the forecast period between 2023 and 2029 and beyond.

Europe Prefabricated Buildings Market – By Material

Based on material, Europe prefabricated buildings market is divided into Concrete, Glass, Metal, and Timber. The timber segment held the highest market share. Timber construction is becoming more common in France. It has typically made up a lower proportion of all apartment buildings and has usually been designated for complexes up to four floors tall. There are already a growing number of projects in the works for buildings with seven to sixteen floors that use timber for the shell or structure. Bordeaux, in southwestern France, has pledged to build 270,000 square feet of timber spaces per year for the next 15 years. One of the structures leading the way is the Hyperion skyscraper, an 18-story residential complex with CLT floors and walls. It is intended to be one of the world's highest timber structures. Precast concrete products compete with items made from other materials. For instance, In France, wooden rail sleepers account for 15% of total rail sleeper volume (due to a statute requiring the construction of 250,000 rail sleepers per year due to an agreement with the timber sector), while precast concrete accounts for 100% of the remaining rail sleeper market.

Competitive Landscape

Major players operating in Europe prefabricated buildings market include Lindal Cedar Homes Inc, Red Sea Housing Services, Astron Buildings, United Partition Systems, Butler Manufacturing Company, Ritz-Craft Corporation, Champion Home Builders, Kirby Building Systems LLC, and Tempohousing. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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