Japan, Japan, Thu, 21 Oct 2021 08:06:30 / Comserve Inc. / -- Japan Prefabricated Buildings Industry With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Prefabricated Building Market in Japan is expected to grow at a CAGR of approximately 6% during the forecast period.
The prefabricated construction market in Japan is comparatively matured and developed when compared to other regions of the world. The revenue generated by the prefab buildings industry rose to approximately USD 21 billion in the year 2019 as compared to the year 2016 where the revenue generated is approximately USD 17.9 billion. In Japan, around 15% of new housing construction is related to prefabricated construction.
Although designed to last between 50 and 100 years, Japanese families that use prefabricated buildings often rebuild their homes every 30 years, as they consider them as depreciating. While the penetration of prefabricated construction varied across different nations, it has become mainstream in other markets, such as Japan, which has capitalized on synergies with other manufacturing industries. Additionally, the inspections by industry-specific trained professionals rather than a general building code have also contributed to the development of the Japanese prefabricated construction market.
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Key Market Trends
Prefabricated Buildings Construction Segmented by Region
In Japan, around 15% of new housing construction is related to prefabricated construction. The share of prefabricated housing units has been almost remained the same during the study period with almost 14% -15% of the total construction buildings in japan. The most prefabricated constructions in Japan, as of 2019 were in Tokyo (18,683 units), followed by Kanagawa (10,864 units), Aichi (10,655 units), Chiba (8,970 units), and Saitama (8,898 units). While the share of prefabricated houses in total is more in Mie (23.6%), followed by Shiga (22.9%), Tochigi (21.9%), and Okayama (21.3%). Out of the total prefabricated houses constructed in the country, the breakdown includes 47,937 units of detached houses, 20,053 units of the tenement house, and 63,506 units of co-built houses.
Shrinking Number in Population Might Impact construction of new Prefab buildings
The Population in Japan is shrinking, with researchers predicting the loss of about 16 million citizens in a little more than two decades. The number of inhabitants in Japan in the year 2015 was 127.98 million, whereas, in 2019, the number of inhabitants is approximately 126.8 million.
According to the data from the world bank, Japan's population has aged more and more, to the point where more than a quarter of Japanese were 65 years and older in 2018. Approximately, 27.6% of the total population in Japan were aged more than 65 years in 2018. The aging population in the country also indicate that there are fewer young people trying to buy properties in suburban or rural areas.
In 2018, the number of new prefabricated houses in Japan reached 131,496 units, witnessing a decline of 5.4% when compared to 2017. However, because of the structural changes in the Japanese detached housing market, 45% of new housing has started in the year 2018. Although the home prices in the country are rising, the country still has more than 8 million unoccupied properties as of Dec 2018 and the owners started giving them away for free.
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With the population continue to decline in Japan combined with ageing population, it is undeniable that the demand for new construction also decreases. The companies are looking to capture the potential growth in China and other Asian countries, as demand for new construction declines in the shrinking domestic market.
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.
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 Impact of COVID 19
5 MARKET DYNAMICS
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