Canada Prefabricated Building Market Overview, 2029

Canada Prefabricated Building Market Overview, 2029

Canada has a long history of prefabricated construction, notably for single-family dwellings. However, the market is currently experiencing a considerable change toward a more diverse approach. This evolution is heavily influenced by cultural and trend influences. For starters, prefabricated structures are gaining popularity due to their multiple advantages, such as shorter construction times, higher quality control, and the potential for reduced prices when compared to traditional construction methods. Furthermore, there is a growing emphasis on sustainability, which has resulted in increased demand for prefabricated buildings produced from environmentally friendly materials and procedures. Furthermore, urbanisation and the critical demand for inexpensive housing are paving the way for the nationwide spread of prefabricated residential and commercial constructions. Because of the wide variety of buildings available in the prefabricated building market, determining a single Average Selling Price (ASP) is difficult. Residential prefabricated constructions, for example, can cost anywhere from $150,000 per square metre to $300,000 per unit. Size, intricacy, and customization possibilities all have a significant impact on how much these buildings cost. This segmentation highlights prefabricated building solutions' versatility and adaptability to meet a variety of needs and budgets in the residential, commercial, and industrial sectors.

According to the research report “Canada Prefabricated Building Market Research Report, 2029,"" published by Actual Market Research, the Canada Prefabricated Building market is growing is expected to grow with more than 10% CAGR from 2024 to 2029. Several causes and obstacles are shaping the future of Canada's prefabricated construction business. On the one hand, the desire for faster building, along with skilled labour shortages and rising traditional construction prices, is driving growing demand for prefabricated alternatives. Furthermore, government attempts to promote prefabrication in the context of affordable housing are driving market expansion. In contrast, problems such as the persistent public image of prefabricated buildings as inferior, as well as the complexities of managing rules and building codes, constitute significant barriers to widespread use. In terms of policy and regulation, Canada lacks a uniform national building code, with each province enacting its own standards. This decentralised structure may provide obstacles to standards in prefabricated building. However, there is a growing drive for provincial building code harmonisation, which has the potential to considerably help the prefabricated construction business by lowering entrance barriers and increasing consistency. Certifications provided by organisations such as the Canadian Standards Association (CSA) play an important role in ensuring the quality and safety of prefabricated buildings, assuring both consumers and regulatory authorities.

Prefabricated buildings encompass a diverse range of construction solutions, categorised primarily by the materials used and the intended applications. Steel, renowned for its strength and versatility, serves as a foundational material in prefabricated construction, offering robustness particularly suitable for industrial and commercial applications. Concrete and cement-based prefabricated elements provide durability and structural integrity, making them ideal for a wide array of applications including residential and commercial projects. Wood, cherished for its natural aesthetics and sustainability, finds extensive use in residential and commercial prefabricated structures, offering warmth and character to the built environment. Additionally, other materials such as composite panels or innovative alloys may also be employed, often catering to specialised needs or architectural preferences. Across these material classifications, prefabricated buildings find applications in residential, commercial, and industrial sectors, offering efficient, sustainable, and customizable solutions to meet diverse construction needs.

Growing investment in infrastructure projects, along with the potential usage of prefabricated components, presents a substantial opportunity for the construction industry. With the growing demand for efficient and cost-effective building solutions, prefabricated structures present a potential opportunity for both developers and builders. Trade events like Construct Canada and the Canadian Home Builders' Association (CHBA) National Conference are important platforms for displaying the most recent advances in prefabricated building systems. These events provide not only networking opportunities, but also allow industry players to showcase their innovative products and technology to potential clients and partners. Canada has a strong domestic supply chain for construction components like wood, steel, and concrete, which significantly boosts prefabricated building output. This advantage originates from the country's abundant natural resources and excellent industrial capabilities, which enable the economical creation of prefabricated components. The prefabricated building market in the United States is larger and more established than that in Canada, owing to its size and longer experience in the sector. However, Canada is slowly reducing the gap as both countries' growth rates are driven by comparable trends in construction and sustainability.

Prefabricated building companies are increasingly adopting digital marketing tactics to broaden their reach. Using internet platforms allows these companies to reach a larger audience and highlight the multiple advantages of prefabricated construction, including speed, efficiency, and sustainability. Emphasising these benefits is critical for recruiting clients and being competitive in the market. The COVID-19 epidemic has had a substantial impact on the prefabricated building industry, causing supply chain disruptions and affecting labour availability. These difficulties have hampered output and project timetables, albeit in variable degrees across geographies. However, despite these challenges, the epidemic has highlighted the benefits of prefabricated building. With a greater emphasis on social separation and a pressing need for speedy development of healthcare facilities, prefabrication's capacity to accelerate building processes has become more obvious. As a result, the pandemic may act as a catalyst for the long-term adoption of prefabricated construction methods, especially in industries that require swift and effective infrastructure solutions.
Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Prefabricated Building market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Materials
• Steel
• Concrete & Cement
• Wood
• Other Materials

By Application
• Residential
• Commercial
• Industrial

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Prefabricated Building industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Prefabricated Building market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Materials
• Steel
• Concrete & Cement
• Wood
• Other Materials

By Application
• Residential
• Commercial
• Industrial

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Prefabricated Building industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.