Source: The Freedonia Group, Cleveland
U.S. nonresidential prefabricated building system demand is expected to exceed $15 billion in 2015, an increase of 7.8 percent annually, according to the new study, Nonresidential Prefabricated Building, from The Freedonia Group. This is a strong showing compared to the weakness over much of the previous decade. The study also predicts that among nonmetal building systems, the modular building segment is expected to see the strongest gains, just ahead of the panelized precast concrete segment.
According to the report, modular building will benefit from robust growth in both commercial and institutional construction activity, as well as from the growing popularity of prefabricated bathroom and kitchen modules. Gains for panelized precast systems will be driven by increases in office and commercial construction, among the more popular applications for these systems. In addition, technological improvements, including better reinforcement materials, improved concrete mixtures and greater design options, will support demand.
The 285-page Nonresidential Prefabricated Building Systems is available for $4,800 from The Freedonia Group and can be purchased at www.freedoniagroup.com.