Modular Construction Market

1
Modular Construction Market 
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Modular Construction Market Global Scenario,
Market Size, Outlook, Trend, and Forecast, 2019
2028

• The global modular construction market was valued
  at US 87.3 billion in 2021 and is expected to
  reach US 130.2 billion by 2028 growing at a
  CAGR of 5.9 during the forecast period from 2021
  to 2028. Modular construction is a type of off-
  site construction of structural units which are
  assembled on the site to complete the
  construction of a building. It produces less
  waste and less site disturbances compared to
  traditional construction. Modular construction is
  used for permanent and temporary services
  particularly for military, hotels, educational
  institutes like classrooms and student residences
  and healthcare facilities. Furthermore,
  dissembling and shifting of these buildings can
  be done without any wastage of time and it can be
  renovated for new modular construction reducing
  the raw material needed and energy requirement
  for construction of new setup.

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Market Dynamics

• Increasing urbanization industrialization in
  developing countries and growing demand for
  affordable housing coupled with increasing
  investments in the development of healthcare and
  commercial infrastructure is anticipated to
  positively impact market growth. Moreover,
  growing population, raising demand for jobs,
  housing, increasing migration necessitates the
  demand of both temporary and permanent housing
  construction market. Increasing concern for work
  safety, need for lower environmental impacts and
  government initiatives offer opportunities for
  the growth of the modular construction market.
  Though factors such as unpredictability in
  transportation charges and lack of awareness may
  inhibit the growth of the market. However modular
  construction leads to higher investment due to
  offsite manufacturing and long duration returns.
• UK appears as a prominent market which aims to
  establish 300,000 modular residential houses
  annually over the upcoming years, which is
  expected to augment the modular residential
  construction sector in the country. Europe was
  the second-largest market for modular
  construction in 2018, due to high level of
  diffusion in UK, Germany, Finland, and Sweden.
  The global modular construction is segmented on
  the basis of material, type, end- user and
  region. By type, it is categorised into permanent
  and relocatable. On the basis of End- user, it is
  categorised into residential, commercia and
  industrial. Based on material, it is categorized
  into steel, wood, concrete and others.
  Furthermore, segmenting based on region it is
  categorized into North America (US, Canada,
  Mexico), Asia Pacific (China, Australia, Japan,
  South Korea, Rest of Asia Pacific), Europe
  (Germany, UK, France, Italy, Rest of Europe), and
  Rest of the World (Latina America, Middle East
  Africa).
• Key major players in the modular construction
  market are Speed House Group of Companies, ATCO,
  Anderco Pte. Ltd., Honomobo Corporation, SG
  Blocks, Lendlease Corporation, Giant Containers
  Inc., SG Blocks, Inc., Speed House Group of
  Companies, Supertech Industries LLC and Skanska
  AB among others.

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Global Modular Construction Market Segmentation
and Scope

• Global Modular Construction Market is segmented
  on the basis of type, material, end- user and
  region as mentioned below
• By Type
• Permanent
• Re-locatable
• By Material
• Steel
• Wood
• Concrete
• Others
• By End- user
• Residential
• Commercial
• Industrial

• By Region
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Rest of Europe
• Asia Pacific
• China
• Australia
• Japan
• South Korea

• Rest of Asia Pacific
• Rest of the World
• Latina America
• Middle East Africa

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The prominent players involved in the global
modular construction market includes

• ATCO
• Anderco Pte. Ltd.
• Giant Containers Inc.
• Honomobo Corporation
• Lendlease Corporation
• SG Blocks, Inc.
• Skanska AB
• Speed House Group of Companies
• Supertech Industries LLC
• Tempohousing

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