Vietnam Prefabricated Buildings Market Introduction and Overview
According to SPER Market Research, the Vietnam Prefabricated Buildings Market is estimated to reach USD 7.02 billion by 2033 with a CAGR of 4.23%.
The report includes an in-depth analysis of the Vietnam Prefabricated Buildings Market, including market size and trends, product mix, applications, and supplier analysis. A prefabricated building is one that is built utilizing the prefabrication technique, which means that the various sections of the building are manufactured in a factory or manufacturing site before being assembled on the site where the structure will be located. Prefabricated buildings are appropriate for circumstances that demand temporary constructions, short construction times, and inexpensive costs. Modular prefabricated structures can be constructed 30-50% faster than traditional ones. Prefabrication in architecture and construction is primarily utilized for two purposes: prefabricated concrete and steel sections in structures, and prefabrication of facade panels using EIFS (Exterior Insulation Finishing System) over a prefabricated light gauge steel frame.
- In August 2023, Vietnam inaugurated its largest 3D printing factory in Ho Chi Minh City. This workshop covered a variety of functional areas and professional processes and was formally opened in the city by 3D Smart Solutions (3DS) Co. Ltd., which contributed to increased income in the Vietnam building market.
- In September 2022, Lotte Group, a prominent South Korean retail company, revealed plans to build an environmentally sustainable'smart city' complex and a'smart logistics' center in Vietnam.
Market Opportunities and Challenges
Opportunities- Prefabricated building is becoming increasingly popular in residential and large-scale commercial projects due to its cost-effectiveness and quicker construction deadlines. The push for sustainable construction methods in Vietnam has resulted in an increase in demand for ecologically friendly prefabricated materials that reduce waste and carbon emissions, propelling the Vietnam prefabricated buildings market forward. Advances in prefabrication technology, such as 3D printing and modular construction methods, are increasing the quality, adaptability, and design potential of prefabricated structures. The Vietnamese government is making major investments in infrastructure projects, such as airports and highways, where prefabricated materials are widely used due to their efficiency.
Challenges- Specialized knowledge and abilities are needed for prefabricated construction's design, production, and assembly. Prefabricated building projects' scalability and efficiency are constrained by a lack of competent workers in the prefabricated construction sector. There are many companies offering a variety of goods and services in the fragmented prefabricated construction market. The market's fierce rivalry puts pressure on prices and lowers suppliers' and manufacturers' profit margins.
Market Competitive Landscape
The market is highly competitive and fragmented, with a few firms controlling the majority. It is predicted to grow over the forecast period. With the established objectives of central government policy and the need for affordable housing, Vietnam's prefabricated construction market is predicted to continue strong. TLC Modular, Zamil Steel Buildings Vietnam Co. Ltd., and BMB Steel are among the market's leading companies.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Material Type, By Application |
| Regions covered | North Vietnam, South Vietnam, East Vietnam, West Vietnam |
| Companies Covered | Zamil Steel Buildings Vietnam Co. Ltd, DTH Prefab, Dai Dung Corp, TLC Modular, Lien Son Thang Long Joint Stock Company, Steel Buildings and Equipment Industries JSC, QH Plus Corp, Tran Duc Corp. |
COVID-19 Impact on Vietnam Prefabricated Buildings Market
The COVID-19 pandemic has seriously hindered construction projects throughout the globe. The paucity of raw materials has presented industrial firms with a number of obstacles. This is due to supply chain disruption caused by the installation of lockdowns in various countries throughout the world. In addition, construction contracts had been discontinued, slowing the growth of the prefabricated structure business. In addition to supply chain disruptions, market expansion has been slowed by the termination of cost management agreements and a lack of suppliers and subcontractors. Furthermore, building and construction operations have been temporarily suspended. The demand for prefabricated building systems has dropped considerably as building and construction activity has declined, weighing heavily on market growth.
By Application Insights
The market is divided into three segments based on its application: industrial, commercial, and residential. The industrial category is expected to dominate the market. Prefabricated buildings allow for the rapid and efficient construction of large production plants that support a variety of manufacturing processes, resulting in the rise of the Vietnam prefabricated buildings market. Prefabrication significantly reduces construction timelines, allowing businesses to begin operations sooner. Furthermore, prefabricated structures serve as distribution centers, simplifying the dispatch and storage procedures.
Key Target Audience
- Real Estate Developers
- Construction Companies and Contractors
- Government and Public Sector Agencies
- Industrial Facility Owners
- Residential Homebuyers
- Architects and Engineers
- Retail and Commercial Property Owners
- Hospitality Sector (hotels and resorts)
- Educational and Healthcare Institutions
- Manufacturers of Prefabricated Building Components
- Distributors and Suppliers of Building Materials
Our in-depth analysis of the Vietnam Prefabricated Buildings Market includes the following segments:
| By Material Type: | ConcreteGlassMetalTimberOthers |
| By Application: | ResidentialCommercialIndustrial |
| By Region: | North VietnamSouth VietnamEast VietnamWest Vietnam |
Key Topics Covered in the Report
- Vietnam Prefabricated Buildings Market Size (FY’2024-FY’2033)
- Overview of Vietnam Prefabricated Buildings Market
- Segmentation of Vietnam Prefabricated Buildings Market By Material Type (Concrete, Glass, Metal, Timber, Others)
- Segmentation of Vietnam Prefabricated Buildings Market By Application (Residential, Commercial, Industrial)
- Statistical Snap of Vietnam Prefabricated Buildings Market
- Expansion Analysis of Vietnam Prefabricated Buildings Market
- Problems and Obstacles in Vietnam Prefabricated Buildings Market
- Competitive Landscape in the Vietnam Prefabricated Buildings Market
- Impact of COVID-19 and Demonetization on Vietnam Prefabricated Buildings Market
- Details on Current Investment in Vietnam Prefabricated Buildings Market
- Competitive Analysis of Vietnam Prefabricated Buildings Market
- Prominent Players in the Vietnam Prefabricated Buildings Market
- SWOT Analysis of Vietnam Prefabricated Buildings Market
- Vietnam Prefabricated Buildings Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
