The Asia Pacific prefabricated construction market is poised for strong growth over the medium term. The real estate and construction sector is transforming in the Indian market. This comes as industry leaders like Larsen & Toubro and Tata Realty & Infrastructure embrace prefabrication and precast technology. In India, the adoption of prefab technology is also aided due to rising awareness and the shortage of skilled manpower.

The regional growth, however, is expected to be led by markets like China, where both the private and public sector is investing in the prefabricated construction. In Australia, too, the government is vouching for modular construction practices to solve the never-ending housing crisis problem. Overall, ConsTrack360 maintains a positive growth outlook for the Asia Pacific prefabricated construction industry over the next three to four years.

The adoption of prefabrication technology is growing rapidly in the Indian market in 2024

The real estate and construction sector is transforming in the Indian market. This comes as industry leaders like Larsen & Toubro and Tata Realty & Infrastructure embrace prefabrication and precast technology.

  • Larsen & Turbo (L&T) revealed that their clients are widely accepting prefab construction technology due to faster construction time and project deliveries using off-site modular construction methods. The adoption of prefab technology is also aided due to rising awareness and the shortage of skilled manpower. L&T, in 2023, completed the construction of a 7-storey flight control system integration facility for DRDO in 45 days. The firm achieved the feet using integrated hybrid modular construction technology. The firm also delivered 96 apartments in 96 days, built with precast, for CIDCO.

    In terms of homebuyer acceptance, there is an emerging interest across the nation. The adoption is expected to gain more momentum over the medium term, which will result in more project launches over the next three to four years. This will support the prefabricated construction industry growth in India from the short to medium-term perspective.
    China is expected to lead the prefabricated construction market across the region in 2024

    The prefabricated construction market is poised for accelerated growth in China over the next three to four years. Several new projects have been undertaken by the public and private sector, aiding the growth of the regional industry as well.
  • Broad Group Holon, in January 2024, built a 26-storey apartment building in Xiangyin county, Hunan province. The apartment building is being constructed to house people hired through a special talent program in Xiangyin. Each floor of the building has eight 68-square-meter apartments and four elevators. The company is also providing furnishings for the apartments.
  • The Broad Group, in 2021, built an 11-storey apartment building in Changsha, the provincial capital, in just 28 hours and 45 minutes. This impressive speed was achieved using the firm’s Holon building method, which simplifies the transportation and installation of materials. The apartments are prefabricated in a factory as modular units measuring 12 meters long, 3 meters high, and 2.4 meters wide.



Several Chinese cities have seen significant uptake in modular construction over the last 12 months. In Chongqing, the implementation of prefabricated construction was set to reach 30% in 2023, according to a report from the Chongqing Municipal Commission of Housing and Urban-Rural Development. This will position Chongqing as the leader in the adoption of modular construction techniques in the Western Chinese region. By 2025, Chongqing aims to increase the proportion of prefabricated construction to 35%, with an annual output value exceeding US$41.5 billion.

NSW Planning and Public Spaces Minister vouched for modular construction to address housing crisis

Across Australia, modular housing solutions have been trialed with great success. Many regional governments are touting prefabricated construction methods as an efficient solution to alleviate supply-side issues. The Western Australian government, in 2023, revealed that over 200 prefabricated homes were being built as part of the A$2.4 billion plan to combat homelessness. The Victorian government, in 2022, also announced an A$30.38 million plan to build 114 energy-efficient modular homes.

  • NSW Planning and Public Spaces Minister Paul Scully, in January 2024, recognized modular construction as a key solution to the state’s housing crisis. Currently, there are more than 50,000 people on the social housing waitlist in NSW. The minister emphasized the urgent need to build 377,000 new houses and highlighted that modular housing is faster and more efficient than traditional construction methods.

    Modular construction firms, such as Fleetwood Australia, have welcomed the statement by the regional government. Firms like Fleetwood Australia are eyeing various projects under the modular construction initiatives announced by regional governments. These firms are also expanding their manufacturing capabilities to meet the rising demand for affordable homes. Fleetwood Australia, for instance, has the ability to deliver 1,500 new homes annually through its seven factories.

    This market intelligence report from ConsTrack360 provides a detailed view of market opportunities in the prefabricated building construction industry at Asia Pacific and country level. With over 100+ KPIs, covering end markets, prefabricated/precast materials, and products at country level, this databook offering primarily provides data-centric analysis with charts and tables.
  • End Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the prefabricated industry at country level.
  • Prefabricated Methods: Provides an in-depth analysis of industry across 3 methods- panelised construction, modular (Volumetric) construction, and hybrid (Semi-volumetric) construction.
  • Prefabricated Materials: Provides demand analysis across 7 key materials such as aluminum, wood, iron & steel, concrete, glass, and other.
  • Prefabricated Products: Provides demand analysis of market by 7 key products such as building superstructure, roof construction, floor construction, interior room modules, exterior walls, columns & beams, and other.



ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.

This title from ConsTrack360 is a bundled offering, combining the following 13 reports (1053 tables and 1274 charts):

Country Report 1 - Australia Prefabricated Construction Industry Databook Series
Country Report 2 - Bangladesh Prefabricated Construction Industry Databook Series
Country Report 3 - China Prefabricated Construction Industry Databook Series
Country Report 4 - India Prefabricated Construction Industry Databook Series
Country Report 5 - Indonesia Prefabricated Construction Industry Databook Series
Country Report 6 - Malaysia Prefabricated Construction Industry Databook Series
Country Report 7 - Philippines Prefabricated Construction Industry Databook Series
Country Report 8 - Singapore Prefabricated Construction Industry Databook Series
Country Report 9 - South Korea Prefabricated Construction Industry Databook Series
Country Report 10 - Japan Prefabricated Construction Industry Databook Series
Country Report 11 - Taiwan Prefabricated Construction Industry Databook Series
Country Report 12 - Thailand Prefabricated Construction Industry Databook Series
Country Report 13 - Vietnam Prefabricated Construction Industry Databook Series