Times are changing and due to this change, people are running out of time. In such a situation, the biggest challenge is to complete such projects in a short time, which takes anywhere from 6 months to a year or two years. The work we are talking about is related to construction. You would have often noticed around you that it takes a year or more to build a five-storey house. But today we are going to talk about the technology. Its name is prefabricated construction.
India is becoming a hero in this sector
The prefabricated construction industry in India is expected to grow steadily in the coming years, driven by the country’s growing manufacturing sector. The market size for this sector is expected to reach Rs 1,146 billion by the end of 2024, which will grow at a rate of 14.4%. Yahoo Finance report says that the prefabricated construction industry is expected to grow at a CAGR of 13.5% between 2024 and 2028. Prefabricated construction can help India’s infrastructure develop quickly and sustainably. It can also help improve sanitation, speed up the delivery of educational and healthcare facilities, and much more.
How does prefabricated construction work?
In such constructions, more than half of the work is done in the factory itself. Nikhil Bothra, CEO of Epack Prefab, a company working in the field of prefabrication, says that with this technology, 90% of the construction is completed in the factory. Only nut-screwing work is done in the field. He says that real growth is yet to come in this sector. This is the reason why the company’s order book increased by 48 per cent in FY24 compared to FY23, amounting to Rs 1,233 crore. In FY25, Epack Prefab is expected to receive 35 per cent more orders from sectors such as industrial, institutional, multi-storey buildings, warehousing and airports, etc. He says that his company completed the work on Darbhanga airport ahead of time. That airport was built using only prefabricated technology.
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There was an increase after Covid
In view of the post-Covid capital expenditure cycle and industrial and manufacturing growth, epack prefab houses are growing at an unprecedented pace. Currently, the demand for PEB is increasing in the aviation, warehouse, automobile, cold storage, data center and other manufacturing industries. He said that we are contributing to major projects in sectors such as commercial spaces, hospitals, hotels, stadiums and schools.
