29-05-2025
Multifamily Modular and Prefabricated Housing Construction Market Report 2025: Key Players like ATCO and Greystar are Leveraging Innovations for Affordable Housing Solutions Amid Rising Global Demand
The multifamily modular and prefabricated housing construction market is set for robust growth, projected to rise from $52.12 billion in 2024 to $73.84 billion by 2029, driven by urbanization, affordability, and sustainability. .
Multifamily Modular and Prefabricated Housing Construction Market
Dublin, May 29, 2025 (GLOBE NEWSWIRE) -- The "Multifamily Modular and Prefabricated Housing Construction Market Report 2025" has been added to offering.
The multifamily modular and prefabricated housing construction market is on a significant growth trajectory, with market size expected to expand from $52.12 billion in 2024 to $55.73 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.9%. Notable factors contributing to this surge include urbanization, cost efficiency, sustainable practices, and population growth. The market size is anticipated to reach $73.84 billion in 2029, driven by ongoing urban density, affordable housing needs, innovation in design, and advances in off-site construction and assembly.
Modular construction's proven benefits, such as cost and time savings, waste reduction, and enhanced safety, are central to market growth. The Modular Building Institute reported in 2023 that modular industry projects accounted for 6.64% of new construction starts, with a value of $14.6 billion. These advantages make modular housing increasingly attractive to multinational construction companies, poised to boost revenues and expand the market's reach.
Growing demand for affordable housing further propels the multifamily modular and prefabricated housing market. The Office for National Statistics indicated increased housing affordability in 2023, showcasing modular construction as a viable solution. Government initiatives globally aim to promote sustainable building practices, with the Singapore government's endorsement of Prefabricated Prefinished Volumetric Construction (PPVC) being a notable example. Such regulatory frameworks underscore the market's alignment with environmental sustainability goals.
Major firms are spearheading innovative strategies within this market. Greystar Real Estate Partners launched its Modular Attainable Housing Brand in June 2023, focusing on providing affordable housing through modular solutions. This strategic initiative exemplifies how companies are meeting market demands while sustaining profitability through innovative construction techniques.
In a strategic move to broaden its modular product offerings, ATCO Structures and Logistics Ltd acquired NRB Modular Solutions for $40 million in September 2024. This acquisition emphasizes ATCO's commitment to expanding its market presence across various sectors, including commercial and residential solutions.
Key players in this dynamic market include Laing O'Rourke, ATCO Ltd., Algeco UK Limited, Ritz-Craft Corporation, and Connect Homes LLC, among others. Asia-Pacific currently leads the market, with Africa projected as the fastest-growing region. The market encompasses diverse regional and international players, covering regions such as Asia-Pacific, Europe, the Americas, and Africa.
Multifamily modular and prefabricated housing construction provides essential market statistics, including industry size, regional shares, and key trends. The market value, derived from sales and services, indicates a robust demand for innovative construction solutions to meet growing housing needs. This sector's expansion is marked by strategic partnerships and adherence to evolving regulatory standards, ensuring continued growth and sustainability.
Key Attributes:
Report Attribute
Details
No. of Pages
175
Forecast Period
2025 - 2029
Estimated Market Value (USD) in 2025
$55.73 Billion
Forecasted Market Value (USD) by 2029
$73.84 Billion
Compound Annual Growth Rate
7.3%
Regions Covered
Global
Scope:
Markets Covered:
By Type: Permanent; Relocatable
By Material: Steel; Precast Concrete; Wood; Plastic; Other Materials
Subsegments:
By Permanent: Multi-Story Modular Apartments; Permanent Prefabricated Units; Infill Housing Units
By Relocatable: Temporary Housing Units; Relocatable Modular Homes; Site Offices and Temporary Accommodation Units
Companies Featured
Laing O'Rourke
ATCO Ltd.
Algeco UK Limited
Ritz-Craft Corporation
Red Sea International Company
Pleasant Valley Homes Inc.
Connect Homes LLC
Kiss House
Marlette Homes Inc.
Guerdon LLC
Northstar Systembuilt Inc.
Cube Haus
Blu Homes Inc.
Plant Prefab Inc.
Simplex Homes Inc.
Revolution Precrafted Properties Limited
Pine Grove Homes Inc.
KLEUSBERG GmbH & Co. KG
Blokable Inc.
New Era Building Systems Inc.
nHouse Limited
PopUp House
Mod-U-Kraf Homes Inc.
Stratford Homes LLC
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Attachment
Multifamily Modular and Prefabricated Housing Construction Market
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