United Kingdom Prefabricated Construction Industry Business and Investment Opportunities Databook – 100+ KPIs, Market Size & Forecast by End Markets, Precast Products, and Precast Materials - Q2 2023 Update

United Kingdom Prefabricated Construction Industry Business and Investment Opportunities Databook – 100+ KPIs, Market Size & Forecast by End Markets, Precast Products, and Precast Materials - Q2 2023 Update

According to ConsTrack360's, prefabricated construction industry in United Kingdom is expected to grow by 5.0% to reach GBP 12,084 million in 2023.

The medium to long-term growth story in United Kingdom remains intact. The prefabricated construction industry in United Kingdom is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 4.9% during 2023-2027. The prefabricated construction output in the country is expected to reach GBP 14,616.2 million by 2027.

The demand for prefabricated housing construction has been on a steady increase in the United Kingdom. In 2023, this demand will be further accelerated owing due to the surge in construction costs and delays due to supply chain and labor shortage issues. Even government entities are projected to seek prefabricated construction activities, as inflation continues to have a severe impact on their annual spending budgets.

Amid the growing demand for prefabricated construction, firms are expected to raise capital rounds from private equity and venture capital players in 2023. Furthermore, as firms seek to expand their presence in the domestic and international markets, ConsTrack360 also expects mergers and acquisition deals to grow from the short to medium-term perspective in the United Kingdom market.

Firms are forging strategic alliances to build more prefabricated modular homes in the United Kingdom

There is a growing demand for affordable housing units. However, the rise in prices of conventional construction materials has meant that traditional housing units have become even more expensive. The growing inflation has also had a severe impact on the monthly budget of many consumers in the United Kingdom. Consequently, to provide Brits with affordable houses, firms are forging strategic alliances to increase the supply of prefabricated homes. For instance,

In December 2022, Legal & General Modular Homes announced that the firm had entered into a strategic collaboration with Vivid, an affordable housing provider. Under the partnership, the two firms are targeting to deliver 300 homes every year in the United Kingdom. However, in the long term, Legal & General Modular Homes aim to provide many thousands of affordable prefabricated housing units through its collaboration with Vivid.

The strategic collaboration with Vivid comes after Legal & General Modular Homes was chosen by the City of Wolverhampton to develop around 400 homes in the city. These strategic collaborations are expected to drive the influx of prefabricated houses in the country from the short to medium-term perspective.

Firms are raising funding rounds to scale their operations and increase the capacity in the United Kingdom

To cater to the growing demand for prefabricated houses in their United Kingdom market, firms are raising funding rounds, which will assist them to scale operations by investing in new manufacturing facilities.

In December 2022, ilke Homes, the modular housing manufacturer, announced that the firm had secured £100 million in a new funding round. The firm is planning to use the capital to further scale its operations, with part of the funding going toward the development of a new factory. The increased capacity will enable the firm to supply 4,000 homes every year.

In September 2022, Modulous, another modular home-focused firm, announced that the firm had raised £10 million. The funding round will assist the firm to scale its modular home kits. Unlike other players in the segment, the modular homes platform offered by the firm brings design, costing, and programming into one place. This enables developers to build modular homes without investing in a factory.

From the short to medium-term perspective, more such innovative startups are projected to raise capital from venture capital and private equity firms, thereby supporting the growth of the prefabricated construction market in the United Kingdom.

Government seeks usage of prefabricated construction as inflation affects spending on construction projects

Inflation in the United Kingdom has surged to multi-year highs. Not just consumers, but even government institutions are feeling the brunt of higher construction costs and material price rises. To accommodate rising construction prices, the government in the United Kingdom has turned to prefabricated modules.

In the face of soaring construction prices, the Health Secretary has ramped up prefabricated construction activities to build 40 new hospitals in the United Kingdom. The construction of the new hospitals was announced in a policy by Mr. Boris Johnson before the 2019 elections. According to the policy announcement, a total of 40 hospitals are to be built by 2030.

Along with inflation, labor shortages and supply chain constraints have led to the adoption of prefabricated modules to construct these 40 hospitals. From the short to medium-term perspective, ConsTrack360 expects the government to turn to prefabricated construction activities for more of their construction projects. This will keep supporting the industry's growth over the next three to four years.

This market intelligence report from ConsTrack360 provides a detailed view of market opportunities in the prefabricated building construction industry with over 100+ KPIs, covering end markets, prefabricated/precast materials, and products in United Kingdom. This is a databook offering, which primarily provides data-centric analysis with charts and tables.

End Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the prefabricated industry in United Kingdom

Prefabricated Methods: Provides an in-depth analysis of industry across 3 methods- panelised construction, modular (Volumetric) construction, and hybrid (Semi-volumetric) construction in United Kingdom.

Prefabricated Materials: Provides demand analysis across 7 key materials such as aluminum, wood, iron & steel, concrete, glass, and other.

Prefabricated Products: Provides demand analysis of market by 7 key products such as building superstructure, roof construction, floor construction, interior room modules, exterior walls, columns & beams, and other.

ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.In-depth Understanding of Prefabricated / Precast Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 50+ market segments.

Deeper Segmentation of Prefabricated Product Analysis: Market size and forecast by prefabricated products, materials, product X materials, and product X construction sectors.

Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in prefabricated / precast construction industry in United Kingdom.

Comparable Data: Get detailed and comparable data for the prefabricated / precast market size. ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.This report provides a detailed data-centric analysis of the prefabricated construction industry, covering market opportunity, and industry dynamics by prefabricated materials, methods, and products across various construction sectors. In addition, it provides market size and forecast of the prefabricated industry covering end markets along with demand analysis in United Kingdom. With over 100 KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.

United Kingdom by Building Construction Sector

• Residential

– Single-Family

– Multi Family

• Commercial

– Office

– Retail

– Hospitality

– Other

• Institutional
• Industrial

United Kingdom by Prefabrication Methods

• Panelised construction
• Modular (Volumetric) construction
• Hybrid (Semi-volumetric) construction

United Kingdom by Prefabricated Material

• Aluminium
• Wood
• Iron & Steel
• Concrete
• Glass
• Other

United Kingdom by Prefabricated Product

• Building Superstructure
• Roof Construction
• Floor Construction
• Interior Room Modules
• Exterior Walls
• Columns & Beams
• Other

United Kingdom by Prefabricated Material X Product

• Aluminium (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Wood (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Iron & Steel (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Concrete (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Glass (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Other (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)

United Kingdom by Prefabrication Product X Construction Sector

• Residential (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Commercial (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Industrial (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)
• Institutional (Building Superstructure, Roof Construction, Floor Construction, Interior Room Modules, Exterior Walls, Columns & Beams, Other)