Asia to support expansion of prefabricated buildings market

The global prefabricated buildings market valued US$90.1 billion in 2012, according to Research and Markets. Asia-Pacific was the largest regional market, accounting for 49.3% of the global market. Developing economies in the Asia-Pacific region, such as China, India and Indonesia are expected to support the market’s expansion due to the demand for residential construction in these locations.

The Asia-Pacific prefabricated buildings market valued US$44.4 billion in 2012, and recorded a review-period CAGR of 16.23%, outperforming all other regional markets. China constituted the largest share of the Asia-Pacific market with 61% in 2012, followed by Japan, Australia and Indonesia with respective shares of 22.3%, 6.8% and 5.1%.