Modular Construction Market by Type (Permanent and Re-locatable), Material (Steel, Wood, Concrete, and Others), and End User (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019–2026
The global modular construction market size was valued at $114.6 billion in 2018, and is projected to reach $196.2 billion by 2026, growing at a CAGR of 7.1% from 2019 to 2026. Modular construction is a process in which modules are engineered, which are then assembled and shipped on site for construction. Modular construction includes structural arrangement with wall coverings and roof, which consist of beams & columns, rigid frames, and steel plates. These structures have found their extensive application in the construction of residential houses, hostels, office complexes, shopping centers, distribution centers, and retail stores.
Modular constructions are efficient and economical as compared to conventional structures. This is attributed to the fact that modular construction involves high-performance products used for residential and commercial constructions that provide enhanced efficiency, resilience, and versatility, thus meeting the construction requirements and long-term demands of high-performance structures. Factors such as reduced cost and time required for construction and upsurge in demand for new construction, owing to surge in population and rapid urbanization drive the market growth. However, lack of skilled labor in developing countries hamper the demand for modular construction. On the contrary, increase in investments in infrastructural projects is expected to offer lucrative growth opportunities for the market player during forecast period.
The global modular construction market is segmented into type, material, end user, and region. By type, the market is bifurcated into permanent and re-locatable. Among these, the permanent segment garners the largest share in 2018, however, the re-locatable segment is expected to grow at a significant rate during the forecast period.
On the basis of material, the market is divided into steel, wood, concrete, and others. The others segment includes plastics, containers, natural slate, and others. The application covered in the study include residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major market participants profiled in this report includeATCO, Anderco Pte. Ltd., Giant Containers Inc., Honomobo Corporation, Lendlease Corporation, SG Blocks, Inc., Skanska AB, Speed House Group of Companies, Supertech Industries LLC, and Tempohousing.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2018 and 2026.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global modular construction market forecast analysis from 2018 to 2026 is included in the report.
The key market players within modular construction market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the modular construction industry.
GLOBAL MODULAR CONSTRUCTION MARKET SEGMENTS
Rest of Europe
Rest of Asia-Pacific
Anderco Pte. Ltd.
Giant Containers Inc.
SG Blocks, Inc.
Speed House Group of Companies
Supertech Industries LLC
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