Panelized Modular Building Systems Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)
The Global Panelized Modular Building Systems Market is projected to register a CAGR of over 6% during the forecast period (2022-2
The market was negatively impacted by COVID-19 in 2020. The construction industry was badly impacted by COVID-19, as many projects were halted in 2020 due to a lack of funds, labor shortage, and lockdown regulations. Due to a ban on inter-state travel, an exodus of migrant workers, also known as informal sector workers, negatively affected the supply chain. Thus, the panelized modular building systems market is restrained by the impact of COVID-19. However, demand for prefabricated hospitals and patient bed facilities increased during the peak of the pandemic in 2020, which boosted the demand for panelized modular building systems, as they need a very less completion time.
Key HighlightsThe panelized modular building systems market is fragmented, with many players holding insignificant shares to individually affect the market demand. Some of the major players in the market (in no particular order) include Kingspan Timber Solutions (Kingspan Group), Robertson Group Ltd, Etex Building Performance, Hunter Douglas Group, and Metek PLC.
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