Global Modular Construction Market to reach USD 149.4 billion by 2025.
Global Modular Construction Market valued approximately USD 85 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.30% over the forecast period 2017-2025.
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Modular construction is prefabricated buildings that are manufactured in a plant. It offers significant advantages compared to conventional buildings such as cost effective, flexibility, shorter time to completion amongst others. The Modular Construction Market is driven by the growth in construction and infrastructure industries. With the rising industrialization, the need for time saving construction methods are required, which has widened the scope of modular construction.
Modular construction gets rid of jobsite issues such as access routes and traffic or security and storage of materials. Factories are typically located next to shipping hubs, aiding the flow of materials while reducing shipping costs. It is thus, a cost-effective method of prefabricated construction. Furthermore, this kind of construction is highly dependent on the applications such as commercial, residential, infrastructure among others. With rapid industrialization in APAC region, the demand for infrastructure has gone up. This has fueled the demand for modular construction in the region.
The regional analysis of Global Modular Construction Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific dominated the modular construction market in 2017, in terms of value. China contributes a major share to the Asia Pacific modular construction market. Increasing urbanization, increasing demand for buildings at affordable costs, and favorable policies and plans are driving the demand for modular construction in the region. Chinese prefabrication manufacturers are further collaborating with global manufacturers to solve their crisis for house
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Partially Open-Sided Modules
Mixed Modules & Floor Cassettes
Module Supported by A Primary Structure
By End-Use Sector
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive.
Some of the leading market players include:-
Red Sea Housing, Atco, Vinci, Skanska AB, Algeco Scotsman, Kef Kattera, Modular Space Corporation, Dubox, Alta-fab Structure, Wernick Group and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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