(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 21, 2021, 07:27 /Comserve / -- India Prefabricated Buildings Industry Study With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Prefabricated Building Market in India is expected to grow at a CAGR of approximately 8.5% during the forecast period mainly driven nations' initiatives like“Digital India”,“Smart Cities” etc. The next decade belongs to prefabrication with the Indian construction sector expected to expand to a size of USD 1 trillion and contribute over 15% to the overall GDP.
The concept of prefabrication is gaining prominence in the Indian construction market. The entry of prefabricated homes in India has paved the way to innovative and technologically advanced construction and design methods for all kinds of construction, such as high rises, low rises, villas, and mass townships.
India is comparatively backward and slow in incorporating prefab constructions into the real estate market. According to an industrial source, India has only around 1-2% of prefabricated buildings, out of its more than USD 100 billion real estate market. One of the main reasons for low penetration of prefabrication solutions in India is a mindset blockade in India, with most developers averse to investing in modular methods of construction and hesitant to incorporate prefabrication in their new and ongoing projects.
Click Here to Download Sample Report >>
Key Market Trends
Government Initiatives in Infrastructure and Construction Sector to Boost the Industry
The demand for infrastructure in India is at an all-time rise. As the government is now looking towards accelerating the growth of infrastructure in India, it has given approval for Real Estate Investment Trust (REIT) to help investors come forward to invest in the Indian real estate market, thus creating an opportunity worth USD 19.65 billion in the Indian market over the coming years. Through GHTC- I, Global Housing Technology Challenge, the government plans to bring the latest technologies in the construction sector.
Through the Smart-Cities mission, the nation aims to create sustainable world-class cities and has allocated a budget of USD 29.2 billion. As of Jun 2020, 75% of the projects planned were completed with USD 16.5 billion in investments. Through HRIDAY, a scheme to develop the heritage cities, an amount of USD 16.5 million has been approved by the central government. With many other initiatives and plans by the government like AMRUT, PMAY (Pradhan Mantri Awas Yojana, a national housing scheme), the infrastructure and construction sector is set to see a rapid growth which in many ways boosts the prefabrication industry.
Precast Concrete Holds Largest Share in the Market
Precast concrete holds the largest share in the market driven by the increase in the off-site construction activity. The rampant infrastructure development held by the government in the country has driven the high demand for supporting materials such as concrete which is also quite large. It is also expected to exhibit growth with a rise in non-residential and residential construction due to rising urbanization.
The precast concrete construction technology is one of the most promising solutions to deal with the rising demand for housing and infrastructure construction. Cement production is reached 337.32 million tonnes in 2018-19 and stood at 278.79 million tonnes from April 2019-January 2020. According to data released by the Department for Promotion of Industry and Internal Trade (DPIIT), cement and gypsum products attracted Foreign Direct Investment (FDI) worth USD 5.28 billion between April 2000 and December 2019.
Request For The Sample Report Here:
Currently, 67% of housing accounts for the biggest consumption of cement and concrete, followed by infra at 13%, commercial real estate at 11%, and industrial real estate at 8 %. To meet this rising demand for precast materials cement companies are expected to increase capacity to over 56 metric tonnes next three years. Many factors like increasing urbanization, growing population and rising focus of government on infrastructural development are driving India ready mix concrete market.
Competitive Landscape
The report covers the major players operating in the India Prefabricated Buildings Industry. The market is highly competitive with no major players. The market is fragmented, and the market is expected to grow during the forecast period due to the increase in the prefab construction building investments and up-coming major projects in the country and other few factors are driving the market.
Prefabricated building systems and construction hold high potential to improve the efficiency and performance of the Indian construction industry in a more sustainable sense. L & T, one of the biggest companies in the construction sector in India, signed an MoU with the US-based engineering company KBR for the construction of modular process plants for refinery and petrochemical projects.
1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Insights on Supply Chain/Value Chain Analysis of the Prefabricated Buildings Industry
4.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
4.5 Cost Structure Analysis of the Prefabricated Buildings Industry
4.6 Impact of COVID 19
5 MARKET DYNAMICS
Request For Full Report >> India Prefabricated Buildings Industry Study
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
MENAFN21102021004694010674ID1103014324
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.