The prefabricated building market revenue in Europe is expected to grow at a CAGR of approx. 4% during the period 2020–2026
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Prefabricated Building Market in Europe Report. The prefabricated building market revenue in Europe is expected to grow at a CAGR of approx.
April 16, 2021 09:07 ET
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New York, April 16, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prefabricated Building Market in Europe - Industry Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p06063356/?utm_source=GNW
4% during the period 2020–2026.
The Europe prefabricated building market size was valued at USD 24 billion in 2020 and is likely to reach USD 32 billion in 2026, growing at a CAGR of over 4% during the forecast period. The market is growing as the demand for better quality sustainable homes across the region increases, with the UK and Germany accounting for the largest shares. The use of additive manufacturing in Europe expects to lend tremendous support to the prefabricated construction market. Companies are using eco-friendly materials and manufacturing techniques to differentiate their offerings from their competitors. The focus on energy efficiency has led to the adoption of energy-absorbing materials such as micro homes. The advent of turnkey solutions is another major factor, which is driving the market growth in the region, especially in Switzerland, Nordic, and the UK. Germany, Nordic, and the UK dominate the Europe prefabricated building market share. The outbreak of the COVID-19 pandemic has led to severe uncertainty for vendors and contractors in the construction industry across Europe. Several construction companies shut down their projects due to lockdown and restrictions. However, due to immediate requirements for hospitals and quarantine sectors, the demand for prefabricated materials witnessed an increase. Since a high workforce is required for traditional construction, opting for prefabricated buildings came out as an optimum solution during the pandemic.