Multifamily Modular And Prefabricated Housing Construction Market In 2029

Multifamily Modular And Prefabricated Housing Construction Global Market Report 2026

TBRC's Multifamily Modular and Prefabricated Housing Construction Global Market Report 2026 – Market Size, Trends, And Global Forecast 2026-2035

LONDON, GREATER LONDON, UNITED KINGDOM, January 7, 2026 /EINPresswire.com/ -- "Multifamily Modular And Prefabricated Housing Construction Market to Surpass $75 billion in 2029. In comparison, the Multifamily Housing Construction (Apartments) market, which is considered as its parent market, is expected to be approximately $1,353 billion by 2029, with Multifamily Modular And Prefabricated Housing Construction to represent around 6% of the parent market. Within the broader Construction industry, which is expected to be $20,447 billion by 2029, the Multifamily Modular And Prefabricated Housing Construction market is estimated to account for nearly 0.4% of the total market value.

Which Will Be the Biggest Region in the Multifamily Modular And Prefabricated Housing Construction Market in 2029
North America will be the largest region in the multifamily modular and prefabricated housing construction market in 2029, valued at $27,461 million. The market is expected to grow from $19,165 million in 2024 at a compound annual growth rate (CAGR) of 7%. The strong growth can be attributed to the growing interest in affordable housing and rising merger and acquisition activity.

Which Will Be The Largest Country In The Global Multifamily Modular And Prefabricated Housing Construction Market In 2029?
The USA will be the largest country in the multifamily modular and prefabricated housing construction market in 2029, valued at $23,918 million. The market is expected to grow from $16,717 million in 2024 at a compound annual growth rate (CAGR) of 7%. The strong growth can be attributed to the growing interest in affordable housing and favorable government initiatives.

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What will be Largest Segment in the Multifamily Modular And Prefabricated Housing Construction Market in 2029?
The multifamily modular and prefabricated housing construction market is segmented by type into permanent and relocatable. The permanent market will be the largest segment of the multifamily modular and prefabricated housing construction market segmented by type, accounting for 63% or $47,585 million of the total in 2029. The permanent market will be supported by increasing investments in long-term urban housing developments, rising demand for durable and energy-efficient housing solutions, government incentives for sustainable construction, reduced lifecycle costs due to lower maintenance requirements, growing preference for permanent modular schools, hospitals and military housing, enhanced design flexibility for developers and improved financing options for long-term modular projects.

The multifamily modular and prefabricated housing construction market is segmented by material into steel, precast concrete, wood, plastic and other materials. The steel market will be the largest segment of the multifamily modular and prefabricated housing construction market segmented by material, accounting for 40% or $30,403 million of the total in 2029. The steel market will be supported by high structural strength and durability under extreme weather conditions, increasing adoption of fire-resistant and pest-resistant materials, recyclability aligning with green building standards, precision manufacturing enabled by advanced fabrication technologies, suitability for high-rise modular construction, shorter construction timelines due to pre-engineered components and reduced maintenance costs over the building’s lifespan.

What is the expected CAGR for the Multifamily Modular And Prefabricated Housing Construction Market leading up to 2029?
The expected CAGR for the multifamily modular and prefabricated housing construction market leading up to 2029 is 8%.

What Will Be The Growth Driving Factors In The Global Multifamily Modular And Prefabricated Housing Construction Market In The Forecast Period?
The rapid growth of the global multifamily modular and prefabricated housing construction market leading up to 2029 will be driven by the following key factors that are expected to reshape residential development and urban housing delivery worldwide.

Rising Urbanization – The rising urbanization will become a key driver of growth in the multifamily modular and prefabricated housing construction market by 2029. Multifamily modular and prefabricated housing construction supports urbanization by enabling faster, more efficient development of high-density residential units in growing cities. These methods reduce construction time, minimize disruption in congested urban areas and offer scalable, cost-effective solutions to address housing shortages. As a result, the rising urbanization is anticipated to contributing to a 2.0% annual growth in the market.

Rise in Multifamily Housing Projects - The rise in multifamily housing projects will emerge as a major factor driving the expansion of the market by 2029. Multifamily modular and prefabricated housing construction plays a vital role in meeting the growing demand for urban housing by enabling faster, more cost-effective and scalable development of apartment buildings and town homes. These methods significantly reduce construction timelines and labor costs, making them ideal for addressing housing shortages and accelerating the delivery of multifamily projects. Consequently, the rise in multifamily housing projects is projected to contributing to a 1.5% annual growth in the market.

Growing Construction Industry – The growing construction industry will serve as a key growth catalyst for the market by 2029. Multifamily modular and prefabricated housing construction offers a faster, more cost-effective and sustainable solution to meet the rising demand for urban housing in the growing construction industry. By enabling off-site manufacturing and streamlined on-site assembly, it reduces construction timelines, labor costs and material waste, making it an attractive option for developers addressing housing shortages and affordability challenges. Therefore, this growing construction industry is projected to supporting to a 1.0% annual growth in the market.

Increased Demand for Sustainable Construction - The increased demand for sustainable construction will become a significant driver contributing to the growth of the market by 2029. Multifamily modular and prefabricated housing construction supports sustainable construction by minimizing material waste, reducing energy consumption during the building process and enabling tighter quality control in factory settings. These methods also shorten construction timelines and reduce on-site disruptions, lowering emissions and improving overall environmental efficiency. Consequently, the increased demand for sustainable construction is projected to contributing to a 0.5% annual growth in the market.

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What Are The Key Growth Opportunities In The Multifamily Modular And Prefabricated Housing Construction Market in 2029?
The most significant growth opportunities are anticipated in the permanent multifamily modular and prefabricated housing construction market, and the steel-based multifamily modular and prefabricated construction market. Collectively, these segments are projected to contribute over $23 billion in market value by 2029, driven by rising demand for faster construction timelines, increasing adoption of off-site manufacturing methods, growing urban housing shortages, and the need for cost-efficient, high-quality residential development. This surge reflects the accelerating shift toward industrialized construction models that enable scalable production, improved structural performance, and reduced project risk, fuelling transformative growth within the broader multifamily modular and prefabricated housing construction industry.

The permanent multifamily modular and prefabricated housing construction market is projected to grow by $13,463 million, and the steel-based multifamily modular and prefabricated construction market by $9,993 million over the next five years from 2024 to 2029.

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