The North America Off-Site Construction Market Size was valued at $49,460.1 million in 2021, and is projected to reach $80,851.3 million by 2031, registering a CAGR of 4.9% from 2022 to 2031. Off-site construction is technique in which a building or an infrastructure is planned and designed in a modular format. Those modules are fabricated offsite in a factory. Once fabricated, those modules are transported to the site and are installed together to finalize the structure.
Market Dynamics
Traditional construction techniques typically involve construction of major components on the site. Thus, it is prone to problems such as slow rate of construction, labor intensive tasks, large amount of waste generation, inability of maintaining best quality. In addition, demolition of buildings constructed with traditional technique is highly costly, and have greater negative impacts on the environment. Thus, to address such issues, offsite construction technique are used. Offsite construction needs less time times to construct a structure. In addition, since modules and components are fabricated in a factory, a strict quality control can be achieved. Circular economy can also be achieved via offsite construction. Moreover, it requires less labour resources and offers better health and safety for workers. Such factors are expected to drive its demand during the forecast period.
Furthermore, urbanization is rising significantly throughout the region. This has increased demand for residential and non-residential buildings. Furthermore, governments across the region are spending significantly in developing their infrastructure. For instance, the Rapid Housing Initiative by the government Canada propels demand for modular housing. In May 2022, the Cree Nation communities in Canada received $17.4 million to deploy modular housing. Such factors are anticipated to significantly boost the North America off-site construction market.
In addition, major businesses in the North America off-site construction market offer a wide range of products and services to meet the needs of customers. They constantly innovate their offerings to stay competitive in the market. Companies such as Blokable Inc., Blu Homes, and Emagispace offer various modular housing systems and offsite construction. Moreover, in August 2021, SG Blocks, Inc., collaborated with ATCO Structures & Logistics to provide 20 modular units for their business. In addition, in November 2021, SG Blocks, Inc. bought a mixed-use property in Durant, Oklahoma with approximately 4,063,276 of square footage from Durant Industrial Authority. SG Block, Inc. plans to develop additional factory space to meet growing demand as well as developing of approximately 300 residential units.
The novel coronavirus had rapidly spread across various countries and regions, which negatively impacted the North America construction Market as well. It caused an enormous impact on lives of people and the overall community. It began as a human health condition and later became a significant threat to global trade, economy, and finance. The COVID-19 pandemic had halted the production of many components in North America off-site construction market due to lockdown. The economic slowdown initially resulted in reduced spending by various North America off-site construction components end-users. However, owing to the introduction of various vaccines, the severity of COVID-19 pandemic has significantly reduced. As of mid-2022 the number of COVID-19 cases have diminished significantly. This has led to the full-fledged reopening of North America off-site construction component manufacturing companies at their full-scale capacities. In addition, the construction sector has also opened and witnessing positive growth. Furthermore, it has been more than two years since the outbreak of this pandemic, and many companies have already shown notable signs of recovery.
Furthermore, advancements in 3D printing technology has enabled quick fabrication of building components, along with greater control over fabrication, which is anticipated to provide lucrative opportunities for the market growth.
By Product Type
Steel is the largest segment, owing to its suitability as a structural member and long durability.
The North America off-site construction market is segmented on the basis of material, end-user industry, and region. By material, the market is categorized into steel, wood, concrete, and others. On the basis of end-user industry, it is categorized into residential, data center, renewable energy, manufacturing, and commercial. Country wise, the market is divided into the U.S., Canada, and Mexico. U.S. dominated the market in 2021, accounting for the highest share. Whereas, Mexico is anticipated to grow at a higher CAGR throughout the forecast period. This is attributed to rapid economic growth in the region.
By Technology
Residential is the largest segment, owing to suitability of off site construction technologies in building Residential structures.
Competition Analysis
Key companies profiled in the North America off-site construction market report include Blokable Inc., Blu Homes, Emagispace, Falcon Structures, FullStack Modular, Modus Structures Inc, Nomodic, Plant Prefab, Inc., Project Frog, and SG Blocks Inc.
By Region
U.S. is the largest market, owing to high demand for precast residential and commercial structures.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging North America off-site construction market trends and dynamics.
- In-depth North America off-site construction market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of the North America off-site construction market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the countries in the region is provided to determine the prevailing opportunities.
- The North America off-site construction market forecast analysis from 2022 to 2031 is included in the report.
- The key players within North America off-site construction market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the lawn mower industry.
North America Off-site Construction Market Report Highlights
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Analyst Review
The North America off-site construction market has witnessed significant growth in past few years, owing to rise in population and urbanization, which drives demand for residential and non-residential structures. The market is also growing, owing to increase in investments in infrastructural development by the governments.
Offsite construction is used in modular construction, modular offices, restrooms, bathrooms, locker rooms, workplace housing, mobile cafes, flat rack components, bathrooms, bedrooms, and entire building. It is also used in oil & gas field and power plant industries. It has features such as shorter building time, lower risk, higher quality, and required low cost
Off-site construction facilities offer a highly needed solution to problems associated with onsite construction, such as slow, and is more labor-intensive tasks, associated with the traditional techniques of construction. Surge in demand for construction of prefabricated construction, owing to affordable housing structures drives growth of the offsite construction market. There has been a rise in demand for offsite construction products, owing to reduction in cost and time required for construction, ease of installation, and lack of space in large cities. This, in turn, drives growth of the offsite construction market. Increase in focus toward affordable residential, commercial, and industrial spaces has positively affected the market growth. Moreover, small housing units can be developed using shipping containers.
Furthermore, advancements in 3D printing technology for producing construction modules is anticipated to provide lucrative opportunities for the market growth.
The North America Off Site Construction market size was $49,460.1 million in 2021 and is projected to reach $80,851.3 million in 2031, growing at a CAGR of 4.9% from 2022 to 2031.
The forecast period considered for the North America Off Site Construction market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.
The base year considered in the North America Off Site Construction market is 2021.
The report for North America Off Site Construction market doesn’t provides Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
On the basis of material, steel segment is expected to be the most influencing segment in the North America Off Site Construction market.
Based on the end-user industry, in 2021, the residential segment generated the highest revenue, accounting for over half of the market, and is projected to grow at a CAGR of 4.7% from 2022 to 2031.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue).
The market value of North America Off Site Construction market is $ 52,719.5 million in 2022.
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