The epic rise of industrialized construction
Experts project that prefabrication and modular construction will total $209 billion by the end of the decade.
DANIELLE DY BUNCIO, FOUNDER & CEO, VIATECHNIK
The construction industry is facing colliding forces that render our current trajectory wasteful, inefficient, and unsustainable. These include a widespread skilled labor shortage and industry productivity rates that continually fail to improve. This is the burning platform that this relatively undisrupted $8+ trillion global industry rests upon. Multiple things need to change, but there are clearly obvious wins to go after.
Enter prefabrication and modular construction. Predicted to grow at 6.50% CAGR between 2015 and 2020, experts project that prefabrication and modular construction will total USD $209 billion by the end of the decade.
The reasons for this meteoric rise are simple: these approaches address some of the most complex issues of modern building, including long timelines, scaling difficulties, and volatility created by variable projects. These methods also use less construction materials than traditional approaches and are flexible enough to accommodate the unique building challenges of today.