RALEIGH, N.C. (October 29, 2013) – FMI, a leading provider of management consulting and investment banking* to the engineering and construction industry, announces the release of its 2013 study on prefabrication and modularization in construction. The report is based on the survey results from construction managers, general contractors and electrical and mechanical contractors.
Of those surveyed, 81 percent say they own their own prefabrication facilities. This figure is down from 90 percent in 2010. This could be due to hesitations about the method that include:
- Selecting the right types of projects for modular construction
- State rules about large assemblies to be transported on roads
- Locating modular assembly areas close to the construction site
- Convincing people that prefabrication and modularized units can produce superior quality and not look like temporary housing units
- Assuring that the work produced meets and codes
- Proving that it works and saves money
- Reducing changes after the work is designed and built
However, the practice is not dying. Sixty-one percent expect to see growth in prefabrication facilities over the next three to five years. Industries that require construction of multiple facilities of similar design, such as healthcare, lodging and education, may see faster growth than other sectors. Universally, the following driving forces have the potential to fuel growth:
- The constant pressure to lower price
- The need to achieve a competitive edge in markets
- The impending lack of skilled construction labo
- rThe use of BIM, allowing greater coordination of design with construction
- The need to increase productivity
To log in and download a copy of the full report, click here. For reprint permission or to schedule an interview with the author, please contact Sarah Vizard Avallone at 919.785.9221 or email@example.com.
*Investment banking services provided by FMI Capital Advisors, Inc., a registered broker-dealer and wholly owned subsidiary of FMI.