The global demand for Modular Construction Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Modular construction is an off-site construction process in which the standardized components of a structure are built in a factory and are assembled on site. The modules are fabricated using standard building construction materials by assembly-line production methods. This process has many benefits compared to on-site construction like reduced wastage, costs, quality, and time. Using modular construction, both the on-site and off-site construction activities can take place in parallel. Modular construction is unaffected by external factors like adverse weather, challenging site logistics, the industry’s skills shortage, etc. The life expectancy of a building hence constructed, is based on its maintenance, and the building can be expanded, remodeled, and updated as required.
Increasing population and rapid urbanization are the key drivers for the growth of the modular construction market. Supportive government initiatives, concern towards work-zone safety, and low environmental impact on the construction process will boost the market growth. Modular construction has gained significant momentum in recent years due to the advancements in technology related to the design, movement, and assembling of modular components. The demand for relocatable modular offices is gaining great appeal and will be a market booster. The foremost restraining factors for the growth of this market are reduced resale value and financing difficulties.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of modular construction.
The entire modular construction market has been sub-categorized into type, material, module and end-use sector. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By End-Use Sector
- Partially Open-Sided
- Mixed Modules & Floor Cassettes
- Modules Supported by a Primary Structure
- Retail & Commercial
This section covers regional segmentation which accentuates on current and future demand for modular construction market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Modular Construction Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the modular construction market include Laing O’Rourke, Red Sea Housing, Atco Ltd., Skanska AB, Algeco Scotsman, Kleusberg GmbH, Katerra, Lendlease Corporation, Bechtel Corporation, Fluor Corporation. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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