Prefabricated Building and Structural Steel Market Report by Component (Prefabricated Building, Structural Steel), End-Use Sector (Residential, Institutional, Commercial, Industrial), and Region 2023-2028

Prefabricated Building and Structural Steel Market Report by Component (Prefabricated Building, Structural Steel), End-Use Sector (Residential, Institutional, Commercial, Industrial), and Region 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A885
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Market Overview:

The global prefabricated building and structural steel market size reached US$ 221.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 318.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028. 

Report Attribute                                                            
 Key Statistics                   
Base Year
2022                            
Forecast Years
2023-2028
Historical Years
2017-2022
Prefabricated Building and Structural Steel Market Size in 2022
US$ 221.7 Billion
Prefabricated Building and Structural Steel Market Forecast in 2028
US$ 318.0 Billion
Prefabricated Building and Structural Steel Market Growth Rate (2023-2028)
6.3%                 


Prefabricated buildings are manufactured in a factory and assembled on the construction site depending on the preference of an individual. They are made by assembling components, such as roofs, walls, and staircases, at off-sites by builders in specialized facilities. They are fabricated using numerous materials, including metal and wooden panels, glass, composites, plastics, and other reinforced plastics. They help save time and cost and eliminate the need for skilled workers to be present on the construction site. On the other hand, structural steel represents the basic framework wherein prefabricated parts are installed. It offers various advantages, such as durability, design flexibility, ease of expansion, weather resistance, efficient material utilization, minimal maintenance, and eco-friendly nature.

Prefabricated Building and Structural Steel Market Trends:

Significant growth in the construction industry, an increase in infrastructural activities, and technological advancements in the construction process represent one of the key factors positively influencing the market. In addition, rising awareness among individuals about the benefits of using prefabricated material and structural steel, such as flexibility, durability, energy efficiency, and faster completion, is creating a positive outlook for the market. Apart from this, the expansion of hotels, institutes, shopping complexes, and high-rise buildings is catalyzing the demand for these materials to enhance the durability of infrastructure. In line with this, the widespread adoption of prefabricated materials in temporary construction facilities, office spaces, medical camps, evacuation centers, schools, apartment blocks, and single-detached houses is offering lucrative growth opportunities to manufacturers. Furthermore, the shifting focus toward waste management and minimizing harmful emissions are increasing the adoption of green building practices, which, in turn, is driving the demand for these materials. Moreover, the increasing traction of smart cities is catalyzing the demand for prefabricated buildings and structural steel, which is expected to propel the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global prefabricated building and structural steel market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on component and end-use sector. 

Breakup by Component:

  • Prefabricated Building
    • Floors and Roofs
    • Walls
    • Staircase
    • Panels and Lintels
    • Others
  • Structural Steel
    • H-Type Beam
    • Columns
    • I-Type Beam
    • Angles
    • Others
       

Floors and roofs currently dominate the prefabricated building market as prefabricated materials make them durable, reliable, and cost-effective. On the other hand, H-type beams hold the largest share of the structural steel market as they can bear larger loads and are more reliable for large-scale projects.

Breakup by End-Use Sector:

  • Residential
  • Institutional
  • Commercial
  • Industrial
     

On the basis of the end-use sector, the prefabricated building and structural steel market has been segmented into residential, institutional, commercial, and industrial.

Breakup by Region:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
     

The Asia Pacific enjoys the leading position in the market due to the growing population and the rising awareness among individuals about the benefits of constructing green buildings in the region.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion, Million Units, Million Tons
Segment Coverage Component, End-Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global prefabricated building and structural steel market were valued at US$ 221.7 Billion in 2022.

We expect the global prefabricated building and structural steel market to exhibit a CAGR of 6.3% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous closure end-use industries for prefabricated building and structural steel.

The rising adoption of green building practices, along with the shifting focus toward waste management, is primarily driving the global prefabricated building and structural steel market.

Based on the component, the global prefabricated building market has been segmented into floors and roofs, walls, staircase, panels and lintels, and others. Currently, floors and roofs hold the majority of the total market share.

Based on the component, the global structural steel market can be divided into H-type beam, columns, I-type beam, angles, and others. Among these, H-type beams exhibit a clear dominance in the market.

On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

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Prefabricated Building and Structural Steel Market Report by Component (Prefabricated Building, Structural Steel), End-Use Sector (Residential, Institutional, Commercial, Industrial), and Region 2023-2028
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