Philippines Prefabricated Buildings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 12.03 Billion |
| Market Size (2029) | USD 22.17 Billion |
| CAGR (2024 - 2029) | 13.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Philippines Prefabricated Buildings Market Analysis
The Philippines Prefabricated Buildings Industry is expected to grow from USD 12.03 billion in 2024 to USD 22.17 billion by 2029, at a CAGR of 13% during the forecast period (2024-2029).
- Demand of Prefabricated Buildings is increasing gradually with the current government’s infrastructural developments. The government’s ‘Build, Build, Build’ program around Metro Manila and other parts of the country will dictate the strategies of the real estate developers. Hence, more offices and residential units outside Metro Manila are expected to be constructed
- The COVID-19 epidemic has had a major effect on a number of global businesses, notably the building sector. The epidemic in the Philippines has had a wide range of effects on the construction sector, including supply chain interruptions, worries about employee safety, and project delays.
- Owing to the demand for construction activities in several key cities in the country, multinational corporations (MNCs) have been snapping up commercial spaces, as the country is an outsourcing destination for global companies. This creates a ripple effect on the related industries, most significantly in the flooring industry.
- Planners and architects have the option to design innovative and advanced developments of exceptional quality because of the growth in precast innovation and dimensional accuracy. Because the pieces are adaptable, the precast development method also enables engineers and designers to plan for upcoming development initiatives.
- Low-rise buildings and high-rise buildings are the two categories into which the prefabricated building market in the Philippines may be divided. Townhouses, single-family homes, and low-rise apartment buildings are all examples of low-rise structures. Mid-rise and high-rise apartment structures, as well as commercial and institutional structures, are all examples of high-rise buildings.
- In the upcoming years, low-rise structures are anticipated to hold the highest market share. This is a result of the increased demand for family and individual housing options that are affordable. Particularly well-liked housing options are single-family homes and townhouses because they provide a more open and private living space than apartments.
Philippines Prefabricated Buildings Market Trends
Rapid urbanization driving the growth of the market
The population is expanding, and urban areas are growing at an unprecedented rate in the Philippines, which is rapidly urbanizing. Due to this increase, there is a lack of residential and commercial space, and conventional construction techniques frequently cannot meet the demand. Prefabricated buildings, which provide a practical and affordable answer to the urbanization issue, have so gained popularity.
The rise in demand for cheap housing is one of the key factors driving the prefab building market in the Philippines. There is a huge need for cheap housing since metropolitan areas are expanding and the population is growing quickly. In comparison to conventional construction techniques, prefabricated buildings are more affordable and quicker to construct. This is crucial in the Philippines, where a lot of people are having trouble finding inexpensive accommodation.
Government initiatives are another factor boosting the prefab building business in the Philippines. The Philippine government has started a number of programs to encourage the usage of prefabricated buildings. The National Housing Development Programme, for instance, plans to use prefabricated structures to construct 1.5 million dwellings by 2022. This substantial investment is anticipated to fuel growth in the prefab construction market over the next few years.
Prefabricated structures are more resistant to natural disasters than conventional structures are. Due to the Philippines' propensity for earthquakes and typhoons, buildings that can resist these occurrences are in high demand. Because they are made to be more flexible and to absorb shock, prefabricated buildings are frequently more resilient in these circumstances. This is crucial in the Philippines since natural disasters can seriously harm infrastructure and structures.
In the Philippines, the market for prefab buildings is expanding due to rapid urbanization. More housing and commercial space are required as metropolitan areas and populations expand. Prefabricated structures are gaining popularity in the Philippines as a practical answer to this issue.
Increasing commerical buildings in philippines prefabricated buildings market
The rising need for business space is one of the key factors influencing the growth of the commercial building sector in the Philippines' prefab buildings market. The Philippines' economy is expanding quickly, and there are more companies and startups there than ever before.
As a result, commercial space is scarce in many urban areas, particularly Manila. Prefabricated buildings are more affordable and quicker to construct than traditional structures, making them an efficient and cost-effective solution to this issue.
The retail and hospitality industries have the most demand for commercial space. The Philippines' retail industry is expanding quickly because of the rising purchasing power of the middle class. The need for retail space is rising as a result, especially in urban areas. With more tourists coming to the Philippines, the hotel industry is likewise expanding quickly. As a result, demand for hotels and other hospitality structures is rising.
Government initiatives are another driver boosting the commercial building segment of the Philippines prefab building market. The Philippine government has introduced a number of efforts to encourage the usage of prefabricated buildings in the business sector.
The Philippine prefab construction market for commercial buildings is expanding due to customization as well. To fulfill the unique needs of the customer, prefabricated buildings might be altered. This is crucial for the commercial sector since firms need customized buildings for the purposes of their respective industries and operations.
Philippines Prefabricated Buildings Industry Overview
The Philippines prefabricated buildings industry is fragmented in nature, with none of the major players having a significant share to influence the market. The prefabricated and building industry is also embracing technology at a faster pace. Owing to this, construction companies are partnering with technology startups to increase productivity and efficiency. Compared to other countries, the Philippines has fewer companies in prefabricated building construction, providing an opportunity for new players to enter the market with less competition and introduce new prefabricated building structures.
Philippines Prefabricated Buildings Market Leaders
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iSteel Inc
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USG Boral Building products
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Frey - Fil Corporation (FFC)
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Revolution Precrafted
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Smarthouse Corporation
*Disclaimer: Major Players sorted in no particular order
Philippines Prefabricated Buildings Market News
December 2022: PHP Ventures Acquisition Corp, a special purpose acquisition company, and Modulex Modular Buildings Plc have signed the definitive agreement for a corporate combination. PHP will merge with Modulex to become the "Combined Company" after the transactions covered by the business combination agreement are completed.
October 2022: Armed Forces and Police Mutual Benefit Association, Inc. (AFPMBAI) helped the Philippine Army (PA) start construction on a PHP33 million two-story modular building at its headquarters in Fort Bonifacio. The building will be used as a temporary residence for Army personnel who must stay at the headquarters for work-related reasons.
Philippines Prefabricated Buildings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Rapid urbanization driving the growth of the market
4.2.1.2 Increasing commerical buildings in philippines prefabricated buildings market
4.2.2 Restraints
4.2.2.1 Availability of skilled labor in the market
4.2.2.2 The quality of the material used in construction
4.2.3 Opportunities
4.2.3.1 Growing demand for affordable housing
4.2.3.2 Increasing focus on environmental sustainability
4.3 Value Chain/Supply Chain Analysis
4.4 Technological Advancements
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Brief on Different Structures Used in the Prefabricated Buildings Industry in the Philippines
4.7 Cost of Prefabricated Construction Technologies
4.8 Cost Analysis of Setting Up a Prefabricated Equipment Manufacturing Unit in the Philippines
4.9 Brief Information About Construction Building Permits in the Philippines
4.10 Ongoing and Upcoming Construction Projects in the Philippines
5. MARKET SEGMENTATION
5.1 Material Type
5.1.1 Concrete
5.1.2 Glass
5.1.3 Metal
5.1.4 Timber
5.1.5 Other Material Types
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.2.3 Other Applications (Industrial, Institutional, and Infrastructure)
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 iSteel Inc.
6.2.2 USG Boral Building products
6.2.3 Frey - Fil Corporation (FFC)
6.2.4 Revolution Precrafted
6.2.5 Smarthouse Corporation
6.2.6 Karmod Prefabricated Building Technologies
6.2.7 Toh Builders Inc.
6.2.8 Indigo Prefab House
6.2.9 WallCrete Company Inc.
6.2.10 Prefab Philippines*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. APPENDIX
Philippines Prefabricated Buildings Industry Segmentation
A prefabricated building is a building or part of a building that has been manufactured in advance and can be easily transported and assembled.
The Philippines' prefabricated buildings market is segmented by material type (Concrete, glass, metal, timber, and other material types) and by application (Residential, commercial, and other applications). The report offers market size and forecasts for the Philippine prefabricated buildings industry in value (US) for all the above segments.
| Material Type | |
| Concrete | |
| Glass | |
| Metal | |
| Timber | |
| Other Material Types |
| Application | |
| Residential | |
| Commercial | |
| Other Applications (Industrial, Institutional, and Infrastructure) |
Philippines Prefabricated Buildings Market Research FAQs
How big is the Philippines Prefabricated Buildings Industry?
The Philippines Prefabricated Buildings Industry size is expected to reach USD 12.03 billion in 2024 and grow at a CAGR of 13% to reach USD 22.17 billion by 2029.
What is the current Philippines Prefabricated Buildings Industry size?
In 2024, the Philippines Prefabricated Buildings Industry size is expected to reach USD 12.03 billion.
Who are the key players in Philippines Prefabricated Buildings Industry?
iSteel Inc, USG Boral Building products, Frey - Fil Corporation (FFC), Revolution Precrafted and Smarthouse Corporation are the major companies operating in the Philippines Prefabricated Buildings Industry.
What years does this Philippines Prefabricated Buildings Industry cover, and what was the market size in 2023?
In 2023, the Philippines Prefabricated Buildings Industry size was estimated at USD 10.65 billion. The report covers the Philippines Prefabricated Buildings Industry historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Prefabricated Buildings Industry size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Philippines Prefabricated Buildings Industry Report
Statistics for the 2024 Philippines Prefabricated Buildings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Prefabricated Buildings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
