Delivering a project with increased efficiency and lesser time & resources is an imperative in today’s competitive world, and construction industry is no different. Prefabrication and Modular Construction has become a synonym for timely and effectual construction and is fast replacing the conventional methods of construction around the globe. With the high performance properties, the demand for pre-stressed and modular construction is bound to go northwards, especially in the non-residential segment.
The precast and prefabrication construction industry’s share is slated to reach USD 209 billion by 2020. With the said amount, it will see a higher year-to-year growth in the segment, at a CAGR of 6.50% between 2015 and 2020. Although there are many high quality prefab and modular constructions around the globe, the industry’s reserved approach towards the adoption of these methods at large is yet to be experienced.
Even with benefits ranging from fixed cost assessment, material standardization and increased production, the industry is marked by the challenges including low build tolerances, high development prices and supplier dependency along with lack of acceptance from the buyers. It goes unsaid that the opportunities on offer from the growing parts of the world are aplenty and the industry is bound to transcend to the modular construction mode given the benefits outweigh the shortcomings.
With these in mind, Information Exchange Group endeavors to create a platform for the construction industry to collaborate to discuss, debate and deliberate upon the key contextual influences, barriers of the industry and the opportunities on offer by the industry. The Middle East Prefabrication and Modular Construction Summit 2016 will see detailed discussions by the domain experts to find viable solutions to the deterrents and chart the way forward for the industry.