DUBLIN--(BUSINESS WIRE )--The "Single-Family Modular and Prefabricated Housing Construction Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global single-family modular and prefabricated housing construction market is expected to grow from $40.74 billion in 2021 to $42.64 billion in 2022 at a compound annual growth rate (CAGR) of 4.7%. The market is expected to reach $51.23 billion in 2026 at a CAGR of 4.7%.

Major players in the market are Red Sea Housing Services; Skanska AB; Bouygues Construction; ACS Actividades de Construccion y Servicios SA; Lindal Cedar Homes Inc.; Kiewit Corporation; Balfour Beatty Plc.; Taisei Corporation; System House R & C Co. Ltd.; Larsen & Toubro Limited.

The single-family modular and prefabricated housing construction market consists of sales of single-family modular and prefabricated houses and related services that are used in residential, commercial, and industrial sectors. Modular construction is a method in which, through managed plant circumstances, a building is developed off-site using the same resources and constructing the same codes and specifications as conventionally designed structures but in about half the time. All modular buildings are prefabricated, but all prefabricated buildings might or might not be modular.

Asia Pacific is the largest region in the single-family modular and prefabricated housing construction market in 2021. Eastern Europe is expected to be the fastest-growing region in the forecast period.

The significant focus on cost savings is a key factor driving the growth of the single-family modular and prefabricated housing construction market. Modular design can minimize project deadlines by as much as 50% as well as costs by 20%. They lead to increased productivity, lower employment expenses associated with purchasing units along a production line.

According to a report on modular construction, in Europe and the US, the modular market value in new real-estate construction is expected to reach $130 billion by 2030 delivering an annual cost saving of $20 billion. Therefore, the significant cost saving is expected to drive the growth of the single-family modular and prefabricated housing construction market.

Implementation of Building Information Modeling (BIM) in modular construction is an emerging trend in the single-family modular and prefabricated housing construction market. Building Information Modeling (BIM) is a revolutionary technique for designing, building, and managing construction models.

This 3D model-based technology provides a digital representation of a building's physical and functional qualities. The technology enables all parties engaged in the built asset's creation and lifespan management to share data and collaborate. During the pre-construction phase, BIM provides specialists with a 3D picture of the structure. It allows specialists to detect potential incompatibilities in mechanical, electrical, and plumbing (MEP) systems and address them at an early stage.

The risks associated with transportation is a key factor impacting the growth of the single-family modular and prefabricated housing construction market. As modules are prefabricated in a factory away from the worksite, they must either be transported specifically to the construction site or assembled in a surrounding venue and then set up.

The transporters and operators must be extremely cautious with each module, if one fails during transportation the entire module may require major repairs or replacements. So, it is necessary for transport and rigging businesses to make a serious effort to trace the routes and plan the mechanics to transfer the modules along their path.

For instance, a construction project in Philadelphia had modular arrived, positioned, and set relatively smoothly but interior drywall was cracked due to the raising of the modules.

2. Single-Family Modular and Prefabricated Housing Construction Market Characteristics

3. Single-Family Modular and Prefabricated Housing Construction Market Trends And Strategies

4. Impact Of COVID-19 On Single-Family Modular and Prefabricated Housing Construction

5. Single-Family Modular and Prefabricated Housing Construction Market Size And Growth

5.1. Global Single-Family Modular and Prefabricated Housing Construction Historic Market, 2016-2021, $ Billion

5.2. Global Single-Family Modular and Prefabricated Housing Construction Forecast Market, 2021-2026F, 2031F, $ Billion

6. Single-Family Modular and Prefabricated Housing Construction Market Segmentation

6.1. Global Single-Family Modular and Prefabricated Housing Construction Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.2. Global Single-Family Modular and Prefabricated Housing Construction Market, Segmentation By Material, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.3. Global Single-Family Modular and Prefabricated Housing Construction Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7. Single-Family Modular and Prefabricated Housing Construction Market Regional And Country Analysis

7.1. Global Single-Family Modular and Prefabricated Housing Construction Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Single-Family Modular and Prefabricated Housing Construction Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900