The global prefabricated construction market is poised for strong growth over the medium term. Many global firms are expanding their presence in the international market to tap into the high-growth sector in 2024. Module-T, for instance, launched its first warehouse in southern France in October 2023 and is planning to expand in the North American region in 2024.
Firms are also entering into strategic partnerships to share technology and manufacturing processes. This is part of the strategy to develop new projects in the global markets through collaboration with traditional construction firms. These strategic partnerships are expected to drive the competitive landscape in 2024. Overall, PayNXT360 maintains a positive growth outlook for the global prefabricated construction industry over the next three to four years.

Prefabricated construction firms are planning to expand their international presence in 2024

With the global market poised to record strong growth over the medium term, due to rising demand for prefabricated solutions, firms are planning to expand their geographical presence in 2024.

  • Module-T, one of the leading manufacturers of prefabricated containers known for its portable cabins, launched its first warehouse in southern France in October 2023. The Turkish firm seeks to strengthen its presence in the French market and speed up monobloc road shipments across Europe with this new facility.
  • The firm produces 12,000 portable cabins and prefabricated modular containers each year. Module-T also specializes in creating and furnishing standalone prefabricated homes, bungalows, and vacation residences. The firm aims to achieve a turnover of US$45 million by 2025.



The firm also seeks to benefit from the 2024 Summer Olympics in Paris. Module-T is providing living quarters, WC-shower facilities, and office containers for worker accommodations. In addition to the European market, the firm is also planning to expand its presence in the North American region over the medium term.

Firms are forging strategic alliances to share technology and manufacturing processes in 2024

Elements Europe, the United Kingdom-based volumetric modular construction firm, entered into a strategic partnership with South Korean housing developer in December 2023. The collaboration is part of the strategy to help Gyeonggi Housing and Urban Development Corporation (GHUDC) develop its high-rise modular technology. Elements Europe, notably, is a subsidiary of GS Engineering and Construction. The Korean contractor has a 75% stake in the UK-based firm.

  • In the United Kingdom, Elements Europe is currently building a 23-storey hotel on East Road in Shoreditch, London, which is expected to be finished by the second half of 2024. Furthermore, the offsite modular specialist is also delivering a 550-home build-to-rent project called Smith’s Garden in Birmingham. The 1,143 modules required for this project will be manufactured in Telford from November 2023 to January 2025.
  • In addition to sharing technology and manufacturing processes, global firms are also collaborating to develop and distribute modular homes in the United States. ABJA Ohana LLC, in December 2023, entered into a strategic alliance with TLC Modular Construction LLC, the Vietnam-based factory-built housing provider. Under the alliance, ABJA Ohana LLC 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.

Housing crisis is expected to drive investment in the Australian prefabricated construction industry in 2024

To tackle the housing crisis, Australia has agreed to build 1.2 million new homes over the next five years. However, the ambitious target is threatened due to the shortage of construction workers. The shortage of skilled labor has also resulted in project delays.

  • To tackle these problems, including labor shortages and project delays, developers are now trailing prefabricated construction methods. This is part of their strategy to fast-track housing supply in Australia in 2024 and beyond. Housing giant Mirvac, following the lead of Scandinavian countries, is trailing the technology in Australia. The firm has been able to reduce the construction times of new units to 12 weeks.



Other firms are seeking to expand their production capacity to deal with the substantial housing shortfall in Australia. Evoke Living Homes, for instance, announced that the firm has set up a factory at Northam in the Wheatbelt region in April 2024. For this, the firm received the assistance of A$200,000 under the Regional Economic Development grant from the state. With the expanded production facility, the firm will be able to increase the manufacturing by 20%, while cutting down on construction delays.

This market intelligence report from ConsTrack360 provides a detailed view of market opportunities in the prefabricated building construction industry at Global 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 20 reports (1620 tables and 1960 charts):

Country Report 1 - Australia Prefabricated Construction Industry Databook Series
Country Report 2 - Brazil Prefabricated Construction Industry Databook Series
Country Report 3 - China Prefabricated Construction Industry Databook Series
Country Report 4 - France Prefabricated Construction Industry Databook Series
Country Report 5 - Germany Prefabricated Construction Industry Databook Series
Country Report 6 - India Prefabricated Construction Industry Databook Series
Country Report 7 - Indonesia Prefabricated Construction Industry Databook Series
Country Report 8 - Mexico Prefabricated Construction Industry Databook Series
Country Report 9 - Nigeria Prefabricated Construction Industry Databook Series
Country Report 10 - Philippines Prefabricated Construction Industry Databook Series
Country Report 11 - Qatar Prefabricated Construction Industry Databook Series
Country Report 12 - Russia Prefabricated Construction Industry Databook Series
Country Report 13 - Saudi Arabia Prefabricated Construction Industry Databook Series
Country Report 14 - Singapore Prefabricated Construction Industry Databook Series
Country Report 15 - South Africa Prefabricated Construction Industry Databook Series
Country Report 16 - Turkey Prefabricated Construction Industry Databook Series
Country Report 17 - United Arab Emirates Prefabricated Construction Industry Databook Series
Country Report 18 - United Kingdom Prefabricated Construction Industry Databook Series
Country Report 19 - United States Prefabricated Construction Industry Databook Series
Country Report 20 - Vietnam Prefabricated Construction Industry Databook Series