Market Size of Vietnam Prefabricated Buildings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.89 Billion |
| Market Size (2029) | USD 5.95 Billion |
| CAGR (2024 - 2029) | 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Prefabricated Buildings Market Analysis
The Vietnam Prefabricated Buildings Market size is estimated at USD 4.89 billion in 2024, and is expected to reach USD 5.95 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
The increased demand for prefabricated housing in the region, including manufactured housing, modular housing, precut housing, and panelized housing, is driven by a constant increase in the demand for housing units across the country.
Vietnam's urban population was 37.3% in 2020. Over the last 50 years, Vietnam's urban population increased significantly from 18.4% to 37.3%, rising at an annual rate of 2.34% and declining to 1.94% in 2020. Vietnam's six main cities are estimated to grow significantly by 2030. Over the next decade, the population of Ho Chi Minh City is expected to reach 11.1 million, growing by over 4 million. The population of Hanoi, the country's capital and second-largest city, is expected to reach 6.4 million, rising by 2.7 million.
Housing is a critical component of Vietnam's urbanization. In 2019, 27% of the urban population lived in substandard housing. By 2049, there will be 13.9 million more urban families, escalating the situation.
Vietnam Prefabricated Buildings Industry Segmentation
Modular building solutions are becoming more popular among big housing companies because they reduce waste, speed up construction, save money, are good for the environment, and are flexible. The report covers the growing trends and projects in prefab building markets like commercial construction, residential construction, and industrial construction. The report also covers the industry by the type of material used, like concrete, timber, glass, metal, and other types. It also analyzes the key players and the competitive landscape in the Vietnamese prefabricated building market. The impact of COVID-19 has also been included in the study. The report offers market size and forecasts for the Vietnam prefabricated buildings industry market in value (USD billion) for all the above segments.
| Material Type | |
| Concrete | |
| Glass | |
| Metal | |
| Timber | |
| Other Material Types |
| Application | |
| Residential | |
| Commercial | |
| Other Applications ( Industrial, Institutional, and Infrastructure) |
Vietnam Prefabricated Buildings Market Size Summary
The Vietnam prefabricated buildings market is poised for significant growth, driven by the increasing demand for housing units across the country. This demand is fueled by rapid urbanization and a burgeoning population, particularly in major cities like Ho Chi Minh City and Hanoi. The market encompasses various types of prefabricated housing, including manufactured, modular, precut, and panelized housing, which are gaining traction in both commercial and residential sectors. The government's initiatives, such as the proposed credit package for low-cost homes and the push for higher automation in the building materials sector, are expected to further stimulate market expansion. Additionally, international trade agreements like the CPTPP and EVFTA are anticipated to boost Vietnam's exports of prefabricated buildings, enhancing the market's growth prospects.
The market landscape is characterized by a high level of competition and fragmentation, with several key players holding significant market shares. Companies such as TLC Modular, Zamil Steel Buildings Vietnam Co. Ltd., and BMB Steel are prominent in the sector. The government's focus on sustainable development and green cities aligns with global trends, offering substantial investment potential in green buildings. This shift not only addresses environmental concerns but also presents lucrative opportunities for businesses. As Vietnam continues to navigate the challenges of urbanization and environmental sustainability, the prefabricated buildings market is expected to remain robust, supported by government policies and the need for affordable housing solutions.
Vietnam Prefabricated Buildings Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technological Trends
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1.3 Supply Chain/Value Chain Analysis of the Prefabricated Buildings Market
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1.4 Brief on Different Structures Used in the Prefabricated Buildings Market
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1.5 Cost Structure Analysis of the Prefabricated Buildings Market
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Material Type
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2.1.1 Concrete
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2.1.2 Glass
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2.1.3 Metal
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2.1.4 Timber
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2.1.5 Other Material Types
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2.2 Application
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2.2.1 Residential
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2.2.2 Commercial
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2.2.3 Other Applications ( Industrial, Institutional, and Infrastructure)
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Vietnam Prefabricated Buildings Market Size FAQs
How big is the Vietnam Prefabricated Buildings Market?
The Vietnam Prefabricated Buildings Market size is expected to reach USD 4.89 billion in 2024 and grow at a CAGR of 4% to reach USD 5.95 billion by 2029.
What is the current Vietnam Prefabricated Buildings Market size?
In 2024, the Vietnam Prefabricated Buildings Market size is expected to reach USD 4.89 billion.
