PUBLISHER: IMARC | PRODUCT CODE: 1792515
PUBLISHER: IMARC | PRODUCT CODE: 1792515
Prefabricated Building and Structural Steel Market Report by Component (Prefabricated Building, Structural Steel), End-Use Sector (Residential, Institutional, Commercial, Industrial), and Region 2025-2033
The global prefabricated building and structural steel market size reached USD 248.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 396.6 Billion by 2033, exhibiting a growth rate (CAGR) of 5.08% during 2025-2033. The growing demand for modular construction, rapid urbanization, sustainability and green building practices, ongoing technological advancements, and the surging popularity of high-rise steel buildings are primarily driving the market's growth.
Prefabricated Building and Structural Steel Market Analysis:
- Major Market Drivers: Significant growth in the construction industry, an increase in infrastructural activities, and technological advancements in the construction process represent some of the key factors positively influencing the market. In addition, rising awareness among individuals about the benefits of using prefabricated material and structural steel, such as flexibility, durability, energy efficiency, and faster completion, is creating a positive outlook for the market.
- Key Market Trends: The shifting focus toward waste management and minimizing harmful emissions is increasing the adoption of green building practices, which, in turn, is driving the demand for these materials. Moreover, the growing traction of smart cities is catalyzing the need for prefabricated buildings and structural steel, which is expected to propel the market demand.
- Competitive Landscape: The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided.
- Geographical Trends: According to the prefabricated building and structural steel market dynamics, Asia Pacific currently dominates the overall market. The region is home to some of the world's most rapidly urbanizing countries, such as China, India, Indonesia, Vietnam, etc. As populations in these regions grow and shift toward urban centers, there is a rising demand for residential, commercial, and industrial buildings. Prefabricated buildings and structural steel solutions offer faster construction times, making them ideal for meeting the increasing demand for housing and infrastructure in densely populated urban areas.
- Challenges and Opportunities: High initial costs associated with prefabricated construction and structural steel solutions and a shortage of skilled labor are hampering the market's growth. However, the increasing need for affordable housing, particularly in urban areas of developing countries, offers a huge opportunity for the prefabricated building market.
Prefabricated Building and Structural Steel Market Trends:
Rising Demand for Modular Construction
Modular construction, a subset of prefabrication, is gaining traction due to its ability to deliver high-quality, factory-built components that can be rapidly assembled on-site. For instance, according to IMARC, the global modular construction market size reached US$ 86.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 137.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032. Structural steel is also frequently used in modular construction because of its durability, flexibility, and high strength-to-weight ratio. These factors are expected to propel the prefabricated building and structural steel market share in the coming years.
Shortage of Workforce in the Construction Industry
Many regions across the globe are facing skilled labor shortages in the construction industry. For instance, according to CNBC, the construction industry is approximately 650,000 workers short of what it requires to complete assignments on time. Similarly, according to Statista, in 2023, the average shortage ratio of skilled construction workers in Japan stood at 1.4%. Prefabrication reduces the dependence on skilled labor by shifting much of the work off-site, further encouraging the market growth. These factors further positively influence the prefabricated building and structural steel market forecast.
Surging Smart Cities Initiatives
The concept of smart cities is gaining traction worldwide, especially in urbanized regions. Moreover, the government of various economies are spending significantly on smart city initiatives. For instance, according to Statista, in fiscal year 2022, expenditure on the Smart City Mission in India was approximately INR 53 billion, and it is expected to exceed INR 68 billion in fiscal year 2023. Prefabricated buildings and structural steel frameworks are well-suited to meet these demands as they can be easily adapted to smart building technologies such as energy-efficient designs, renewable energy integration, and advanced construction methods, thereby boosting the prefabricated building and structural steel market revenue.
Global Prefabricated Building and Structural Steel Industry Segmentation:
Breakup by Component:
- Floors and Roofs
- Walls
- Staircase
- Panels and Lintels
- Others
- Structural Steel
- H-Type Beam
- Columns
- I-Type Beam
- Angles
- Others
Floors and roofs dominate the prefabricated building market whereas H-type beams currently exhibit the largest share of structural steel market
According to the prefabricated building and structural steel market outlook, floors and roofs are often designed in standardized modules that can be easily prefabricated off-site and assembled on-site, making the process faster and more efficient compared to traditional construction methods. Moreover, prefabricated floors and roofs provide structural stability and can be customized to fit different building designs, whether for residential, commercial, or industrial projects. Furthermore, H-type beams are designed with wide flanges, which distribute loads more evenly across the structure. This gives them a higher load-bearing capacity compared to other steel beams like I-beams, making them ideal for applications where heavy loads are involved, such as high-rise buildings, bridges, and industrial structures.
Breakup by End-Use Sector:
- Residential
- Institutional
- Commercial
- Industrial
According to the prefabricated building and structural steel market overview, with increasing urbanization, particularly in emerging markets, there is a growing demand for affordable housing. Prefabricated buildings offer a solution by providing cost-effective and quick construction methods, further driving the demand in the residential sector. Moreover, prefabricated buildings are commonly used in the construction of classrooms, administrative buildings, and student housing for schools and universities. Prefabrication offers the ability to quickly assemble temporary or permanent structures, particularly in remote locations or in response to rapid population growth. Besides this, structural steel is the dominant material used in the construction of commercial high-rise office towers due to its ability to support tall structures with minimal columns.
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Asia Pacific currently dominates the global market
The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. According to the report, Asia Pacific currently dominates the global market.
According to the prefabricated building and structural steel market statistics, the Asia-Pacific region is undergoing rapid urbanization as populations move to cities in search of better economic opportunities. This has created a substantial demand for housing, commercial buildings, and infrastructure, which are being built using prefabricated construction and structural steel for faster delivery. Moreover, the region's growing middle class is driving demand for residential developments in urban areas, where prefabrication helps meet the need for mass housing projects more efficiently. Besides this, many governments in Asia-Pacific are making large-scale investments in infrastructure and smart city projects to boost economic development. For instance, in August 2024, India's Cabinet Committee on Economic Affairs (CCEA), approved 12 additional smart city projects under the National Industrial Corridor Development Programme (NICDP), totaling INR 286.02 billion (US$3.41 billion).
Competitive Landscape:
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided.
Key Questions Answered in This Report
- 1.What was the size of the global prefabricated building and structural steel market in 2024?
- 2.What is the expected growth rate of the global prefabricated building and structural steel market during 2025-2033?
- 3.What has been the impact of COVID-19 on the global prefabricated building and structural steel market?
- 4.What are the key factors driving the global prefabricated building and structural steel market?
- 5.What is the breakup of the global prefabricated building market based on the component?
- 6.What is the breakup of the global structural steel market based on the component?
- 7.What are the key regions in the global prefabricated building and structural steel market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Prefabricated Building Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Impact of COVID-19
- 5.4 Price Structure Analysis
- 5.4.1 Key Price Indicators
- 5.4.2 Price Structure
- 5.4.3 Price Trends
- 5.5 Market Breakup by Component
- 5.6 Market Breakup by Material Type
- 5.7 Market Breakup by Region
- 5.8 Market Breakup by End-Use Sector
- 5.9 Market Forecast
6 Global Structural Steel Market
- 6.1 Market Overview
- 6.2 Market Performance
- 6.2.1 Volume Trends
- 6.2.2 Value Trends
- 6.3 Impact of COVID-19
- 6.4 Price Structure Analysis
- 6.4.1 Key Price Indicators
- 6.4.2 Price Structure
- 6.4.3 Price Trends
- 6.5 Market Breakup by Component
- 6.6 Market Breakup by Region
- 6.7 Market Breakup by End-Use Sector
- 6.8 Market Forecast
7 Global Prefabricated Building Market: Performance by Component
- 7.1 Floors and Roofs
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Walls
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Staircase
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Panels and Lintels
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Global Structural Steel Market: Performance by Component
- 8.1 H-Type Beam
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Columns
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 I-Type Beam
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Angles
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Global Prefabricated Building and Structural Steel Market: Performance by End-Use Sector
- 9.1 Residential
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Institutional
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Commercial
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Industrial
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Global Prefabricated Building and Structural Steel Market: Performance by Region
- 10.1 Asia Pacific
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 North America
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Europe
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Middle East and Africa
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Latin America
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.2.1 Prefabricated Building Industry
- 14.2.2 Structural Steel Industry
15 Key Player Profiles
List of Figures
- Figure 1: Global: Prefabricated Building and Structural Steel Market: Major Drivers and Challenges
- Figure 2: Global: Prefabricated Building Market: Volume Trends (in Million Units), 2019-2024
- Figure 3: Global: Prefabricated Building Market: Value Trends (in Billion USD), 2019-2024
- Figure 4: Global: Prefabricated Building Market: Average Price Trends (in USD/Unit), 2019-2024
- Figure 5: Global: Prefabricated Building Market: Price Structure Analysis
- Figure 6: Global: Prefabricated Building Market: Breakup by Component (in %), 2024
- Figure 7: Global: Prefabricated Building Market: Breakup by Region (in %), 2024
- Figure 8: Global: Prefabricated Building Market: Breakup by End-Use Sector (in %), 2024
- Figure 9: Global: Prefabricated Building Market Forecast: Volume Trends (in Million Units), 2025-2033
- Figure 10: Global: Prefabricated Building Market Forecast: Value Trends (in Billion USD), 2025-2033
- Figure 11: Global: Structural Steel Market: Volume Trends (in Million Tons), 2019 & 2024
- Figure 12: Global: Structural Steel Market: Value Trends (in Billion USD), 2019 & 2024
- Figure 13: Global: Structural Steel Market: Average Price Trends (in USD/Ton), 2019 & 2024
- Figure 14: Global: Structural Steel Market: Price Structure Analysis
- Figure 15: Global: Structural Steel Market: Breakup by Component (in %), 2024
- Figure 16: Global: Structural Steel Market: Breakup by Region (in %), 2024
- Figure 17: Global: Structural Steel Market: Breakup by End-Use Sector (in %), 2024
- Figure 18: Global: Structural Steel Market Forecast: Volume Trends (in Million Tons), 2025-2033
- Figure 19: Global: Structural Steel Market Forecast: Value Trends (in Billion USD), 2025-2033
- Figure 20: Global: Prefabricated Building (Floors and Roofs) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 21: Global: Prefabricated Building (Floors and Roofs) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 22: Global: Prefabricated Building (Walls) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 23: Global: Prefabricated Building (Walls) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 24: Global: Prefabricated Building (Staircase) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 25: Global: Prefabricated Building (Staircase) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 26: Global: Prefabricated Building (Panels and Lintels) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 27: Global: Prefabricated Building (Panels and Lintels) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 28: Global: Prefabricated Building (Other Components) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 29: Global: Prefabricated Building (Other Components) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 30: Global: Structural Steel (H-Type Beam) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 31: Global: Structural Steel (H-Type Beam) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 32: Global: Structural Steel (Columns) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 33: Global: Structural Steel (Columns) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 34: Global: Structural Steel (I-Type Beam) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 35: Global: Structural Steel (I-Type Beam) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 36: Global: Structural Steel (Angles) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 37: Global: Structural Steel (Angles) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 38: Global: Structural Steel (Other Components) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 39: Global: Structural Steel (Other Components) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 40: Global: Prefabricated Building and Structural Steel (Residential Application) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 41: Global: Prefabricated Building and Structural Steel (Residential Application) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 42: Global: Prefabricated Building and Structural Steel (Institutional Application) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 43: Global: Prefabricated Building and Structural Steel (Institutional Application) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 44: Global: Prefabricated Building and Structural Steel (Commercial Application) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 45: Global: Prefabricated Building and Structural Steel (Commercial Application) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 46: Global: Prefabricated Building and Structural Steel (Industrial Application) Market: Value Trends (in Million USD), 2019 & 2024
- Figure 47: Global: Prefabricated Building and Structural Steel (Industrial Application) Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 48: Asia Pacific: Prefabricated Building ad Structural Steel Market: Value Trends (in Million USD), 2019 & 2024
- Figure 49: Asia Pacific: Prefabricated Building ad Structural Steel Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 50: North America: Prefabricated Building ad Structural Steel Market: Value Trends (in Million USD), 2019 & 2024
- Figure 51: North America: Prefabricated Building ad Structural Steel Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 52: Europe: Prefabricated Building ad Structural Steel Market: Value Trends (in Million USD), 2019 & 2024
- Figure 53: Europe: Prefabricated Building ad Structural Steel Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 54: Middle East and Africa: Prefabricated Building ad Structural Steel Market: Value Trends (in Million USD), 2019 & 2024
- Figure 55: Middle East and Africa: Prefabricated Building ad Structural Steel Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 56: Latin America: Prefabricated Building ad Structural Steel Market: Value Trends (in Million USD), 2019 & 2024
- Figure 57: Latin America: Prefabricated Building ad Structural Steel Market Forecast: Value Trends (in Million USD), 2025-2033
- Figure 58: Global: Prefabricated Building and Structural Steel Industry: SWOT Analysis
- Figure 59: Global: Prefabricated Building and Structural Steel Industry: Value Chain Analysis
- Figure 60: Global: Prefabricated Building and Structural Steel Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Prefabricated Building Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Structural Steel Market: Key Industry Highlights, 2024 and 2033
- Table 3: Global: Prefabricated Building Market Forecast: Breakup by Component (in Million USD), 2025-2033
- Table 4: Global: Structural Steel Market Forecast: Breakup by Component (in Million USD), 2025-2033
- Table 5: Global: Prefabricated Building and Structural Steel Market Forecast: Breakup by End-Use Sector (in Million USD), 2025-2033
- Table 6: Global: Prefabricated Building and Structural Steel Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 7: Global: Prefabricated Building and Structural Steel Market: Competitive Structure
- Table 8: Global: Prefabricated Building Market: Key Players
- Table 9: Global: Structural Steel Market: Key Players
