Market research by Technavio says that pre-fabrication construction is expected to grow 6% over the next three years.
In the report, Technavio said that the market size for pre-fabricated construction will grow 6% from 2015-2019. The market size was calculated based on the value of prefabrication construction all over the world - including Europe, North America, and the Middle East.
"Smart cities are a pioneering concept that provide a sustainable and efficient environment within buildings. They have attained great popularity in developed as well as developing countries due to their ability to optimize energy-efficiency and improve security and facilities. Since prefabricated construction helps to achieve energy-efficiency and waste management, these units are being widely used for the construction of smart cities across the globe," said Soumya Mutsuddi, Technovio's lead industry analyst for construction research.
"The global prefabricated construction market is dominated by five leading international players, namely ACS Group, Balfour Beatty, Bouygues Construction, Julius Berger, and Komatsu House. However, there are a large number of small, domestic, country-specific vendors in the market as of 2015 who are also providing prefabricated building components. These vendors are offering affordable solutions to SMEs and small construction companies and developers that engage mainly in small-scale residential development projects," added Soumya.
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