China Prefabricated Building Market Research Report, 2029

Prefabricated construction in China has a long history, particularly with the use of precast concrete materials for many decades. However, the current prefabricated construction sector is a relatively new phenomena, driven mostly by the country's growing urbanisation and coordinated government activities. This dynamic terrain is witnessing a number of important phenomena. The building industry is seeing a significant movement toward sustainability. Growing concerns about green infrastructure and sustainable living practices are encouraging the use of prefabricated construction methods. These approaches are praised for their resource efficiency and capacity to reduce waste, which aligns nicely with sustainability goals. China State Construction Engineering Corporation (CSCEC) and Beijing Evergrande Group are two major companies in China's prefabricated construction industry. The market is also seeing the arrival of new firms, driven by the sector's bright future potential. These newcomers bring fresh ideas and technology to the market, adding to its dynamism and innovation. According to the research report “China Prefabricated Building Market Research Report, 2029," published by Actual Market Research, the China Prefabricated Building market was valued more than USD 40 Billion in 2023. The Chinese government's proactive approach is critical to the growth of the prefabricated construction industry. Authorities are aggressively pushing the incorporation of prefabrication technology into the national construction framework via a variety of laws and incentives. The primary goal is to obtain a major part of new construction projects that use prefabricated elements, increasing efficiency and satisfying rising demand. Another important factor influencing China's prefabricated construction landscape is technological improvements. Design, material, and manufacturing process innovations are resulting in significant gains in efficiency, quality, and aesthetics. These innovations not only increase the appeal of prefabricated buildings, but they also improve their general performance and durability. Prefabricated construction technologies have seen a considerable increase in usage across a variety of sectors, including prominent applications in disaster recovery housing projects. Concurrently, there is a rising emphasis on the development of ecologically acceptable prefabricated construction materials and technology, indicating an industry-wide commitment to sustainability and eco-friendly practices. The pricing dynamics in China's prefabricated building market are diverse, impacted by building type, size, complexity, and material specifications. Prefabrication is generally less expensive than traditional construction processes, especially on larger projects. However, determining specific Average Selling Prices (ASP) is difficult due to the unique nature of market projects.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Prefabricated buildings encompass a diverse range of construction solutions, categorised primarily by the materials used and the intended applications. Steel, renowned for its strength and versatility, serves as a foundational material in prefabricated construction, offering robustness particularly suitable for industrial and commercial applications. Concrete and cement-based prefabricated elements provide durability and structural integrity, making them ideal for a wide array of applications including residential and commercial projects. Wood, cherished for its natural aesthetics and sustainability, finds extensive use in residential and commercial prefabricated structures, offering warmth and character to the built environment. Additionally, other materials such as composite panels or innovative alloys may also be employed, often catering to specialised needs or architectural preferences. Across these material classifications, prefabricated buildings find applications in residential, commercial, and industrial sectors, offering efficient, sustainable, and customizable solutions to meet diverse construction needs. Despite these drivers, the industry faces obstacles. The most significant of these is the question of standardisation. The lack of standardised components and regulatory frameworks creates considerable barriers to the widespread use of prefabricated construction technologies. Addressing this challenge would need collaborative efforts to set comprehensive standards and rules that promote industrial growth. Public perception also emerges as a significant challenge to overcome. Some stakeholders have issues about prefabricated buildings' longevity and aesthetic appeal when compared to traditional construction methods. Overcoming these preconceptions needs aggressive communication and education efforts that highlight the benefits and capabilities of modern prefabricated structures. Finance is a big barrier for players in prefabricated projects. Securing enough finance is frequently difficult due to lenders' lack of knowledge of the complexities of prefabricated construction, underlining the need for more awareness and confidence-building initiatives in the financial industry. In terms of policy and legislation, while the government supports prefabrication through programs such as the "13th Five-Year Plan," more measures are required to assure quality and safety requirements. Stricter standards and certifications for prefabricated components and construction procedures are required to instil trust in stakeholders and prevent potential dangers connected with the rapid expansion of the prefabricated construction sector. China has a strong local supply chain for critical raw materials like steel and concrete, which are required for prefabricated building. This infrastructure assures a consistent supply of resources, although volatility in raw material prices might still have an impact on project costs. However, compared to industrialised nations, China's prefabricated construction business is still maturing. Despite this, its quick expansion and strong government support have established it as a dominant player in the Asia Pacific area. The country's emphasis on prefabricated building is consistent with its overall infrastructure development goals and sustainability measures. Marketing tactics in the prefabricated construction market are rapidly evolving. Companies are increasingly using online platforms, attending industry events, and presenting case studies to demonstrate the advantages of prefabricated building. These activities aim to increase visibility and educate potential clients on the benefits of using current construction technologies. Companies aim to acquire more clients and drive market expansion by presenting successful projects as well as demonstrating cost-effectiveness and efficiency. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Kripa Shah

Senior Analyst

Aspects covered in this report • Prefabricated Building market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Materials • Steel • Concrete & Cement • Wood • Other Materials By Application • Residential • Commercial • Industrial

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The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Prefabricated Building industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.