United States Prefabricated Construction Industry Databook 2024: Prefabricated Construction Firms are Announcing Grants to Support Modular Housing Development - ResearchAndMarkets.com

The "United States Prefabricated Construction Industry Business and Investment Opportunities Databook - 100+ KPIs, Market Size & Forecast by End Markets, Precast Products, and Precast Materials - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The prefabricated construction industry in United States is expected to grow by 8.8% to reach USD 146.70 billion by end of 2024.

The growth momentum is expected to continue over the forecast period, recording a CAGR of 8.4% during 2024-2028. The prefabricated construction output in the U.S. is expected to reach USD 202.72 billion by 2028.

The prefabricated construction industry is poised to record strong growth over the medium term in the United States. To tap into the high-growth sector, global firms are entering into strategic partnerships to build and distribute factory-built homes.

Global firms are collaborating to build and distribute factory-built homes in the United States

The prefabricated construction market is poised for accelerated growth over the medium term. To tap into the high-growth industry, global firms are entering into strategic partnerships to develop and distribute their modular homes across the 50 states.

ABJA Ohana , in December 2023, entered into a strategic alliance with TLC Modular Construction, the Vietnam-based factory-built housing provider. Under the alliance, ABJA Ohana has secured an exclusive distribution agreement. The two firms have partnered to develop, market, and distribute premium quality homes and apartment buildings in the United States. The two firms, notably, will operate as TLC Modular USA Inc.

The firm has announced that it has received more than US$24 million in orders for 2024. These orders include a 58-unit apartment building in Honolulu, Hawaii, 169 single-family homes in Riverside, California, and 121 units in Desert Hot Springs, California. The entry of global firms into the domestic market is, therefore, expected to drive the competitive landscape in the fast-growing industry over the medium term.

Prefabricated construction firms are announcing grants to support modular housing development

• Mighty Buildings, a modular construction firm based in the United States, has partnered with Lawrence Berkeley National Laboratory and Habitat for Humanity to announce a US$5 million grant aimed at developing sustainable and affordable housing in the San Francisco Bay Area.
• The grant, known as GFO-22-305, comes from the California Energy Commission. This grant will fund the development, testing, and demonstration of zero-carbon or near-zero-carbon, cost-effective, modular homes. This project will involve building three prefabricated low-carbon townhouses in Bay Point, California, to benefit low-income families through Habitat for Humanity.
• Mighty Buildings will use its 3D printing technology, which includes its proprietary stone-like LUMUS material, robotics, and automation, to construct the homes at their Oakland factory. The homes will then be assembled on-site. These prefabricated units are expected to be built much faster than traditional methods, potentially allowing for the construction of 20% - 30% more housing units.
• The project aims to explore several possibilities, including advanced off-site 3D printing techniques and new energy-efficient panels, which are expected to achieve the highest level of off-site completion in the industry so far. It will also introduce a new energy and manufacturing cost model developed by Lawrence Berkeley National Laboratory (LBNL). This model could be used for future projects involving prefabricated, modular, and panelized construction solutions
• Mighty Buildings targets to develop complete carbon-neutral houses by 2028. The firm, in September 2023, completed a US$52 million funding round led by Wa'ed Ventures, bringing its total funding to US$150 million since its inception in 2017.

Global firms are setting up manufacturing facilities to tap into the growing United States market

With the market poised for accelerated growth over the next five years, United Kingdom-based prefabricated construction firms are planning to expand their manufacturing capabilities in the United States. As a result, firms are investing millions of dollars into the development of new facilities.

MMY Global, based in the United Kingdom, announced that the firm is investing US$6.1 million to set up a manufacturing facility in West Louisville, in the United States in February 2024. This is the first manufacturing unit for the UK-based firm in the United States.

The firm, notably, has received a grant of US$500,000 from the Louisville Metro Government to open the facility on Beech Street. With the new manufacturing facility, the firm will be able to produce up to 500 units per year, having an opportunity to grow this to 1,000 units annually. The production, at the Louisville facility is expected to commence later in 2024.

Report Scope

This report provides a detailed data-centric analysis of the prefabricated construction industry, covering market opportunity, and industry dynamics by prefabricated materials, methods, and products across various construction sectors. In addition, it provides market size and forecast of the prefabricated industry covering end markets along with demand analysis in United States. With over 100 KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.

United States by Building Construction Sector

• Residential
• Single-Family
• Multi Family
• Commercial
• Office
• Retail
• Hospitality
• Other
• Institutional
• Industrial

United States by Prefabrication Methods

• Panelised construction
• Modular (Volumetric) construction
• Hybrid (Semi-volumetric) construction

United States by Prefabricated Material

• Aluminium
• Wood
• Iron & Steel
• Concrete
• Glass
• Other

United States by Prefabricated Product

• Building Superstructure
• Roof Construction
• Floor Construction
• Interior Room Modules
• Exterior Walls
• Columns & Beams
• Other

United States by Prefabricated Product

• Aluminium
• Wood
• Iron & Steel
• Concrete
• Glass
• Other

United States by Prefabrication Construction Sector

• Residential
• Commercial
• Industrial
• Institutional

For more information about this report visit https://www.researchandmarkets.com/r/6d2ruv

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