North America Prefabricated Buildings Market Report and Forecast 2024-2032

North America Prefabricated Buildings Market Outlook

The North America prefabricated buildings market size reached USD 20.93 billion in 2023. The market is expected to grow at a CAGR of 5.9% between 2024 and 2032, reaching almost USD 34.84 billion by 2032.                                       

Key Takeaways

• According to the Associated General Contractor of America, construction significantly bolsters the U.S. economy, with 8.0 million employed, generating nearly $2.1 trillion annually.

• According to the U.S. Census Bureau, construction spending in the USA rose to $1,978.7 billion in 2023, surpassing the previous year's $1,848.7 billion.

• According to Statistics Canada, the non-residential sector saw a 0.6% increase to $49.8 billion in 2023, marking the second consecutive annual rise.

The North America prefabricated buildings market growth can be attributed to precision manufacturing, which ensures flawless component fitting. This enhances structural integrity and stability by reducing weaknesses, resulting in a sturdy building structure.

Beam and column systems in prefabricated buildings provide structural stability, rapid assembly, uniform quality, cost-effectiveness, design adaptability, convenient transport, and eco-friendliness, rendering them effective and dependable options.

Prefabricated floor and roof systems ensure swift setup, heightened safety, energy conservation, longevity, tailored design, sound insulation, and fire resilience, offering a versatile and dependable answer to contemporary construction demands.

The construction sector significantly boosts the U.S. economy. It employs 8.0 million workers and generates close to $2.1 trillion in construction projects annually.

Based on country, the North America prefabricated buildings market share is led by the United States, driven by its robust construction sector, which stands as one of the largest consumers of manufacturing, mining, and various services

In 2023, construction expenditure in the USA surged to $1,978.7 billion, exceeding the previous year's $1,848.7 billion, as per the U.S. Census Bureau. 

Statistics Canada reports a 0.6% rise in the non-residential sector, reaching $49.8 billion in 2023, marking the second consecutive yearly increase. This escalation in construction activity is propelling the expansion of the North America prefabricated buildings market growth.

Market Segmentation

North America Prefabricated Buildings Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Beam and Column System

• Floor and Roof System

• Bearing Wall System

• Façade System

Market Breakup by Material

• Concrete

• Glass

• Metal

• Timber

• Others

Market Breakup by Application

• Residential

• Commercial

Market Breakup by Country

• United States of America

• Canada

The North America prefabricated building market key players are focusing on entering into strategic collaborations while simultaneously improving their product portfolio.

The key market players are Satellite Shelters, Inc., Black Diamond Group Limited, Nucor Buildings Group, JL Construction, Inc., Morgan Buildings, Plant Prefab, Inc., Connect Homes, and Abtech, Inc. among others.

Key Highlights of the Report