The U.S. offsite construction market size was valued at $39.5 billion in 2021, and is projected to reach $90.3 billion by 2031, registering a CAGR of 8.5% from 2022 to 2031. Common materials used in Offsite construction include steel, wood, concrete, and others. Among these, the steel segment accounted for the highest market share in 2021, owing to its easy fabrication and ease in installation. In addition, the market is analyzed across different end-user industries of Offsite construction including residential, data center, renewable energy, manufacturing, and commercial. The market is mainly driven by rise in advantageous features of Offsite construction including reduction of waste, possibilities for circular economy, superior product quality and better health, and safety for workers. However, high initial cost involved in setting-up of Offsite construction fabrication facilities and structural limitations of prefabricated modules constrain growth of the market.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/32153
Rise in population and rapid urbanization propels growth of residential, commercial, and other infrastructures; thereby, propels the U.S. offsite construction market growth. Furthermore, on the basis of end-user industry, the renewable energy segment is anticipated to grow rapidly during the forecast period, owing to increased investments toward sustainable development.
Key players in the U.S. Offsite construction industry offer a wide range of products and services to sustain the harsh competition in the market. In addition, business expansion also plays a major role growth of the market. For instance, in June 2021, SGB Development Corp. a wholly-owned subsidiary of the SG Blocks, Inc., partnered with CMC Development Group ZT Architecture + Land Development and Community Development Consortium to develop rental apartment community in a six-acre site on Norman Berry Drive in Atlanta, Georgia. This enables the company to market its capabilities.
However, various businesses in the U.S. Offsite construction market had to stop their business during the pandemic. This break directly impacted sales of companies involved in the U.S. Offsite construction market share. In addition, lack of manpower and raw materials constricted supply of raw materials for manufacturing various Offsite construction components; and negatively influenced growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/32153
Key findings of the study
- The report provides an extensive analysis of the current and emerging U.S. offsite construction market trends and dynamics.
- By type, the volumetric segment was the largest revenue generator in 2021.
- By material, the steel segment generated the highest revenue in 2021.
- By end user industry, the residential segment dominated the market in 2021.
- The U.S. offsite construction market forecast analysis from 2022 to 2031 is included in the report.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/construction-and-manufacturing
Follow Us on Blog: https://www.marketinshort.com