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Report Overview
The Vietnam prefabricated buildings market size reached around USD 5.13 Billion in 2023. The market is projected to grow at a CAGR of 5.10% between 2024 and 2032 to reach nearly USD 8.03 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per industry reports, in the fourth quarter of 2023, the GDP from construction in Vietnam peaked at 388199.00 VND Billion, marking the highest recorded value to date.
- The rapid pace of urbanisation and increasing demand for affordable housing, along with support towards sustainable construction practices and infrastructural development by the government, are significant drivers of the Vietnam prefabricated buildings market.
- Vietnam's construction sector is anticipated to expand at a 7.5% annual rate in 2024, leading to a rise in demand for prefabricated buildings.
Vietnam Prefabricated Buildings Market Growth
Vietnam's economy has changed dramatically over the past three decades, with 37.55% of the population expected to live in towns and cities in 2022 as a result of extensive economic reforms and a quick structural shift from an economy based on agriculture to one based on industrial developments. Moreover, as of the year 2021, there exist a total of 868 urban areas, comprising of 2 special type urban areas, 22 type I urban areas, 33 type II urban areas, 47 type III urban areas, 90 type IV urban areas, and 674 class V urban areas. This has resulted in the application of various construction methods including prefabricated buildings, which consequently drives up the Vietnam prefabricated buildings market share.
Progress in construction technology, including enhanced design software, automated manufacturing, and the use of advanced materials, is raising the quality and appeal of prefabricated structures. These innovations help shorten construction time, minimise waste, and improve the overall functionality of buildings, consequently driving up the market growth.
As per the Vietnam prefabricated buildings market analysis, progress in design software, automation, and manufacturing technologies has enhanced the efficiency and flexibility of prefabrication. Building Information Modelling (BIM) allows for accurate planning and coordination of prefabricated elements, leading to increased efficiency and decreased errors. Prefabrication usually results in less waste when compared to conventional construction methods due to the precise use of materials and controlled manufacturing settings. Prefabricated structures frequently feature energy-efficient designs and materials, minimising their environmental footprint during construction and over their lifespan.
Compound Annual Growth Rate
Value in USD Billion
5.1%
2024-2032
Vietnam Prefabricated Buildings Market Outlook
*this image is indicative*
Key Trends and Developments
Vietnam prefabricated buildings market growth can be attributed to rapid urbanisation, rising government initiatives to promote sustainable construction methods, and rising adoption of contemporary construction methods.
Rapid Urban Growth and Industrial Development
Vietnam is undergoing significant urban expansion, leading to a heightened need for commercial, residential, and infrastructural developments. Prefabricated materials offer a swift and economical response to this increasing demand.
Government Initiatives and Regulations
The Vietnamese government has enacted policies that promote contemporary construction methods, including the adoption of prefabricated materials, as part of its commitment to sustainable development and environmentally friendly building practices, consequently driving up the Vietnam prefabricated buildings market share.
Economic Viability
The use of prefabricated materials contributes to lower labor expenses and reduced construction durations, making it particularly appealing in Vietnam's expanding yet budget-conscious construction sector. Additionally, accelerated project completion results in cost savings for developers.
Sustainability and Ecological Considerations
Prefabrication techniques can significantly decrease construction waste and energy consumption. With a growing awareness of environmental issues in Vietnam, there is an increasing demand for sustainable building options such as prefabricated materials.
Vietnam Prefabricated Buildings Market Trends
Prefabricated construction is increasingly favoured in residential and large-scale commercial projects owing to its cost-effectiveness and shorter construction timelines. In Vietnam, the push for sustainable building practices has led to a growing demand for environmentally friendly prefabricated materials, which minimise waste and reduce carbon emissions, leading to the Vietnam prefabricated buildings market expansion. Advances in prefabrication technology, such as 3D printing and modular construction methods, are improving the quality, adaptability, and design potential of prefabricated buildings. The Vietnamese government is making significant investments in infrastructure initiatives, including airports and highways, where the use of prefabricated materials is prevalent due to their efficiency.
Vietnam Prefabricated Buildings Industry Segmentation
The EMR’s report titled “Vietnam Prefabricated Buildings Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Material Type
- Concrete
- Glass
- Metal
- Timber
- Others
Breakup by Application
- Residential
- Commercial
- Industrial
Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Prefabricated Buildings Market Share
Based on application, the market is segmented into industrial, commercial, and residential. The industrial segment is projected to dominate the market, representing a CAGR of 5.4%. Large production plants that support a variety of manufacturing processes can be swiftly and effectively constructed using prefabricated buildings, leading to the Vietnam prefabricated buildings market expansion. Construction schedules are greatly shortened by prefabrication, enabling enterprises to start up more quickly. Additionally, prefabricated structures act as distribution centres, streamlining the dispatch and storage processes.
Leading Companies in the Vietnam Prefabricated Buildings Market
Market players are focusing on adopting sustainable building practices and adoption of cutting-edge technologies to improve Vietnam prefabricated buildings market outlook.
Zamil Steel Buildings Vietnam Co. Ltd.
Established in 1997, Zamil Steel Buildings Vietnam Co. Ltd. is in Ho Chi Minh City. The company focuses on the provision of pre-engineered steel buildings and has established a significant foothold in the industrial and commercial construction sectors of Vietnam.
DTH Prefab
Founded in 2009, DTH Prefab operates from Hanoi, Vietnam. This company is recognised as a leading producer of ...
Dai Dung Corp.
Dai Dung Corporation, which was established in 1995 and is based in Ho Chi Minh City, plays a pivotal role in ...
TLC Modular
Founded in 1995 and headquartered in Ho Chi Minh City, TLC Modular is dedicated to modular construction, offer...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major players in the market are Lien Son Thang Long Joint Stock Company, Steel Buildings and Equipment Industries JSC, QH Plus Corp., and Tran Duc Corp., among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 5.13 Billion.
The market is assessed to grow at a CAGR of 5.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024 -2032 to reach about USD 8.03 Billion by 2032.
The market is being driven by the development of smart cities and growth of the modular construction practices.
The market is being driven by the development of smart cities and growth of the modular construction practices.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South-Central Coast, among others.
Based on type, market segmentations include residential, commercial, and industrial.
The major players in the market are Zamil Steel Buildings Vietnam Co. Ltd., DTH Prefab, Dai Dung Corp., TLC Modular, Lien Son Thang Long Joint Stock Company, Steel Buildings and Equipment Industries JSC, QH Plus Corp., and Tran Duc Corp., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Material Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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