India Prefabricated Buildings Market is Expected to be Dominated by Skeleton System During the Forecast Period
Increasing foreign direct
investments (FDI) in India to drive India prefabricated buildings market during
forecast period
According to
TechSci Research report, “India Prefabricated Buildings
Market By Structure Type, By
Material Type, By Unit Size, By System Type, By Application, Competition,
Forecast & Opportunities, 2024”, India prefabricated buildings market is expected to
grow at a steady CAGR during the forecast period owing to the increasing demand
from the construction industry, especially the residential sector for new
houses. Moreover, establishment of special economic zones (SEZs) and minimal
wastage of materials is further expected to propel the market. Further, continuous
infrastructural developments due to rapid industrialization, migration of
citizens to urban areas, and supportive government policies are anticipated to fuel
growth in the market over the next five years. However,
technical issues associated with prefabrication, such as weak joints and poor
thermal insulation performance can hamper the growth of market during the
forecast period. Additionally, excessive regulations and lack of adoption of
latest technologies can further restrict the growth of the market.
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India
prefabricated buildings market is segmented based on structure type, material
type, unit size, system type, application, region and company. Based on
structure type, the market can be divided into assembled and non-assembled. The
non-assembled segment is expected to dominate the market owing to the larger
benefits of off-site construction. Additionally, factors such as accelerated
project timelines, greater flexibility, more economical pricing, safer and
greener construction technology, among others are further contributing to the
demand for non-assembled segment. Based on material type, the market can be
grouped into glass, concrete, steel, aluminum, timber, architecture structures
and others. Steel is anticipated to hold the largest market share since it is
eco-friendly, cost effective, requires less maintenance and is also sustainable.
Further, steel buildings are customizable and strong. Based on system type, the
market can be fragmented into skeleton system, panel system, cellular system
and combined system. The skeleton system is expected to dominate the market on
account of its economic viability and cost effectiveness.
Angath Exterior
& Interior, Primex Building Systems Pvt. Ltd., Stelloid Infrastructure Pvt.
Ltd., Multicolor Steels India Pvt Ltd, BNAL Prefabs Pvt. Ltd., The Octamec
Group, Rapid Prefab Constructions (India) Pvt. Ltd., E-Pack Polymers Pvt. Ltd.,
Supertech (India) Pvt. Ltd., S. SHAHA & CO. and others are some of the
leading players operating in India prefabricated buildings market. The companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share.
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“India prefabricated
buildings market is expected to grow during the forecast period on account of
the growing
residential and industrial activities and rising demand for prefabricated
building systems. Additionally, heavy investments in infrastructural
development coupled with growing inclination towards remote workforce
accommodation administration structures and safe portable storage solutions are
likely to open new opportunities for prefabricated building market in India.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India Prefabricated Buildings Market By Structure Type, By Material Type, By Unit Size, By
System Type, By Application, Competition, Forecast & Opportunities, 2024”, has evaluated the future growth potential of India prefabricated
buildings market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India prefabricated
buildings market.
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