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Report
Japan Prefabricated Buildings - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The Japan Prefabricated Buildings Market size is estimated at USD 16.48 billion in 2024 and is expected to reach USD 22.28 billion by 2029, growing at a CAGR of 6% during the forecast period.
Prefabricated housing accounted for approximately 13.1% of the total residential construction starts in Japan in 2022, with construction works initiated for nearly 112,5 thousand new housing units. This represents a decrease of approximately 0.8% from 2021.
Japan's prefab housing develhousing development has evolved into very advanced results. Today, Japanese prefab houses are built to high standards in terms of disaster resilience, thermal insulation, and bespoke designs.
Prefabricated buildings are typically designed to last 50 to 100 years, but Japanese families that use them rebuild their houses every 30 years because they view them as depreciating. Prefabricated construction has been around for a long time in many countries, but it has become increasingly popular in recent years. Japan has developed its prefabricated market by taking advantage of synergies with other industries. The inspections are carried out by industry-specific, trained professionals, rather than according to a general building code.
Japan Prefabricated Buildings Market Trends
Number of Prefabricated Housing Construction is Increasing
In Japan, houses are not built to last but rather have a lifespan of 30 years or more. When someone dies, their house (which has no resale value) will be torn down to build a new house. This is known as the scrap and build policy in many of Japan's suburban development projects. It is a practice that is defined in space as well as in time. Japanese people do not appreciate living in old homes that do not meet regulations and have specifications that are close to or over their useful life. But something is changing their mindset.
The amount of embodied energy in a building, which is the energy needed to produce, transport, and store materials, is very high. Globally, the amount of CO emitted from construction activities accounts for about 35% of the global.
An estimated 13% of the country is already uninhabited, and by 2033, this number is projected to rise to around 30%. There are currently 21.7 million vacant homes in the country. There is a general issue of abandoned houses and unoccupied land in the country. The few people who live in these areas are unable to maintain their public infrastructure, such as train lines, hospitals, or roads, with their taxes. The abandoned houses are then rebuilt into prefabricated buildings.
Shrinking Number in Population Might Impact construction of new Prefab buildings
The Population in Japan is shrinking, with researchers predicting the loss of about the number of Japanese nationals declined by nearly 800,000 in 2022, falling by 0.65% compared to the previous year, while the population of foreign residents reached a record high of nearly 3 million, to government data. The decline in the population of Japan was driven by a decline in the number of non-Japanese residing in the country, as the country continues to age and shrink. The total population of Japan was 125,41 million in 2022, down slightly from the year before, while foreign residents with addresses registered in Japan increased by 10.7%, according to the government. For the first time, the population of Japan declined in all 47 of its prefectures.
As Japan's population continues to shrink and the country's demographics continue to age, there's no denying that new construction demand is going down as well. As demand for new construction in the domestic market continues to decline, the companies want to capitalize on the growth opportunities in China and the rest of Asia.
Japan Prefabricated Buildings Industry Overview
The report covers the major players operating in the Japan Prefabricated Buildings Industry. The market is highly competitive with a few players occupying the major share. The market is fragmented, and the market is expected to grow during the forecast period. Major prefab manufacturers, such as Panasonic Homes and Toyota Home are entering the wooden housing business, while local power builders and construction companies are gaining power.
Hachimatsu City's original Ichijo construction company and Sekisui are increasing their shares in the detached housing market. The country has some of the largest prefabricated home manufacturers in the world, such as Sekisui, Daiwa, etc. The Japanese homebuilders are strengthening their businesses by expanding to overseas countries. For instance, developers, such as Panasonic Homes Co. and Daiwa House Industry Co. have been trying to meet a variety of overseas needs, from single homes to condominiums and prefabricated flats for construction workers.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Insights on Supply Chain/Value Chain Analysis of the Prefabricated Buildings Industry
4.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
4.5 Cost Structure Analysis of the Prefabricated Buildings Industry
4.6 Government Regulations
4.7 Impact of COVID 19
5 MARKET DYNAMICS
5.1 Drivers
5.1.1 Government Initiatives in the Infrastructure and Construction Sector to Boost the Industry
5.1.2 Need for Precast Concrete Technology Driving the Market
5.2 Restraints
5.2.1 Higher Transportation Cost
5.3 Opportunitites
5.3.1 Adoption of Green Building Concept
5.4 Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers / Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6 MARKET SEGMENTATION
6.1 Material Type
6.1.1 Concrete
6.1.2 Glass
6.1.3 Metal
6.1.4 Timber
6.1.5 Other Material Types
6.2 Application
6.2.1 Residential
6.2.2 Commercial
6.2.3 Other Applications ( Industrial, Institutional, and Infrastructure)
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 SEKISUI HOUSE
7.2.2 DAIWA HOUSE GROUP
7.2.3 PANASONIC HOMES CO
7.2.4 TOYOTA HOUSING CORPORATION
7.2.5 ORIENTHOUSE Co., Ltd
7.2.6 KAWADA INDUSTRIES,INC.
7.2.7 MISAWA HOMES
7.2.8 SHIMIZU CORPORATION
7.2.9 TODA CORPORATION
7.2.10 ZENITAKA CORPORATION *
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
9 APPENDIX
9.1 Marcroeconomic Indicators (GDP breakdown by sector, Contribution of construction to economy, etc.)
9.2 Key Production, Consumption,Exports & import statistics of construction Materials
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