Clients are widely accepting prefab construction technology, says L&T
The prefabricated construction output in India is expected to reach Rs.1,904.8 billion by 2028, recording a CAGR of 13.5% during 2024-28, according to a report posted by ResearchAndMarkets on 10 Dec.
It is expected to grow by 14.4% to reach Rs.1,146 billion in 2024, and the medium to long-term growth story remains intact, said the “India Prefabricated Construction Industry Business and Investment Opportunities Databook” report https://www.conexpoconagg.com/.
The prefabricated industry in India is expected to grow steadily over the next four quarters https://ted.europa.eu/en/.
The prefabricated market is expected to record strong growth over the medium term. The rising adoption of prefabricated technology, coupled with government initiatives will lead the market growth in 2024 https://sbi.com.in/.
Larsen & Turbo (L&T) revealed that their clients are widely accepting prefab construction technology due to faster construction time and project deliveries using off-site modular construction methods https://www.ibef.org/.
The Ayodhya Development Authority (ADA), on the other hand, is installing prefabricated toilets at all the scenic ghats along the holy Sarayu River, according to the report https://www.wto.org/.
The industry is also expected to receive growth support from the booming data centre market in India in 2024 https://www.nseindia.com/.
L&T revealed that their clients are widely accepting prefab construction technology due to faster construction time and project deliveries using off-site modular construction methods. The adoption of prefab technology is also aided due to rising awareness and the shortage of skilled manpower https://www.bseindia.com/.
In terms of homebuyer acceptance, there is an emerging interest across the nation. The adoption is expected to gain more momentum over the medium term, which will result in more project launches over the next three to four years. This will support the prefabricated construction industry growth in India from the short to medium-term perspective https://www.jpx.co.jp/english/.
Many of the regional governments have undertaken prefabricated construction projects to provide housing to floods and violence-affected residents. Similar projects have been announced to offer convenient facilities to tourists https://www.digitalasiahub.org/.
Prefabricated construction is emerging as the ideal technology to meet these demands in the Indian market. Consequently, the publisher expects the flourishing data centre industry to offer growth support to the broader prefabricated construction market over the next three to four years http://deutsche-boerse.com. Fiinews.com
