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Global Modular Construction Industry Market Dynamics & Strategic Insights 2021-2030
Modular construction is a process in which a manufactured building or modules constructed off-site and then delivered to the site and assembled as considerable elements of a building. It is widely used in different applications like commercial, residential, and infrastructure construction. Benefits of modular construction include speedy onsite installation, cost-effective, lightweight nature to transport/relocate quality products, etc. The modular units could be serviced units such as complete rooms, lifts or toilets, or parts of a room. The collection of distinct modular units usually constructs a self-supporting structure on its own or for tall buildings that may rely on an independent structural framework.
Global Modular Construction Market іѕ ѕеgmеntеd on the bаѕіѕ оf Material Type (Concrete, Steel, Plastic, Wood, Others) Construction (Permanent Modular, Relocatable Modular) Product Type (Walls, Roofs & Floor, Columns & Beams, Others) Application (Residential, Commercial, Industrial) Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Modular Construction Market wаѕ vаluеd аt USD 23,545 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 7.6% frоm 2021 tо 2030.
The report on Global Modular Construction Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Modular Construction Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Modular Construction Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Modular Construction Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Modular Construction Market.
Market Dynamics:
Increasing demand for complex structures at affordable rates, rapid urbanization, and industrialization is a factor expected to drive the growth of the global market over the forecast period. Additionally, growing inclination toward sustainable construction methods and rising construction activities in developing countries are subsequently creating opportunities for the industry. Also, rising support from government regulations and policies is anticipated to drive the modular construction market growth.
However, mobility and lack of awareness and marketing across the supply chain may hinder the industry growth over the forecast period. Increasing FDI in construction and supportive government regulations and policies are some of the factors favoring the target market growth across the world.
Segmental Analysis:
Among the material type segments, the concrete segment is anticipated to hold the major share of the market in terms of revenue.
Among the construction segments, the permanent modular segment accounted for the maximum number of revenue shares of the global market, owing to permanent modular construction are inexpensive. However, the relocatable modular segment is projected to grow at a significant rate during the forecast period, due to the increasing adoption of relocatable modular construction for commercial projects and offices.
Among the product type segments, the roofs & floor are expected to hold a major share in terms of revenue and anticipated to grow over the forecast period.
Among the application segments, the residential segment is accounted for a major revenue share in the global modular construction market, increasing residential housing construction activities with a burgeoning population, rapid urbanization, and strong economic growth.
Regional Analysis:
The Asia Pacific market is projected to account for significant revenue share in the target market, owing to increasing FDI inflows in construction, increased construction projects, and real-estate development in the countries in the region. Additionally, rising industrialization and the necessity for time-saving construction methods have broadened the possibility of modular construction is a factor expected to drive the growth of the global market. The market in the Asia Pacific region is also cherishing the growth of construction in countries such as China, Japan, Australia, India, Korea, Thailand, and Malaysia. China is expected to be the major consumer of modular construction. Chinese prefabrication manufacturers are working together with global producers to solve the crisis for houses. Recently, in 2016, UK housing association joint venture with a Chinese state-owned construction company to build 25,000 modular homes over the forecast period.
Global Modular Construction Market Segmentation:
Segmentation by Material Type:
• Concrete
• Steel
• Plastic
• Wood
• Others
Segmentation by Construction:
• Permanent Modular
• Relocatable Modular
Segmentation by Product Type:
• Walls
• Roofs & Floor
• Columns & Beams
• Others
Segmentation by Application:
• Residential
• Commercial
• Industrial
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
ACS Group
Skanska AB
Komatsu Ltd.
LARSEN & TOUBRO LIMITED
Balfour Beatty Plc.
Kiewit Corporation
Taisei Corporation
Red Sea Housing Services
System House R & C Co. Ltd
Bouygues Construction
Global Modular Construction Market іѕ ѕеgmеntеd on the bаѕіѕ оf Material Type (Concrete, Steel, Plastic, Wood, Others) Construction (Permanent Modular, Relocatable Modular) Product Type (Walls, Roofs & Floor, Columns & Beams, Others) Application (Residential, Commercial, Industrial) Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Modular Construction Market wаѕ vаluеd аt USD 23,545 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 7.6% frоm 2021 tо 2030.
The report on Global Modular Construction Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Modular Construction Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Modular Construction Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Modular Construction Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Modular Construction Market.
Market Dynamics:
Increasing demand for complex structures at affordable rates, rapid urbanization, and industrialization is a factor expected to drive the growth of the global market over the forecast period. Additionally, growing inclination toward sustainable construction methods and rising construction activities in developing countries are subsequently creating opportunities for the industry. Also, rising support from government regulations and policies is anticipated to drive the modular construction market growth.
However, mobility and lack of awareness and marketing across the supply chain may hinder the industry growth over the forecast period. Increasing FDI in construction and supportive government regulations and policies are some of the factors favoring the target market growth across the world.
Segmental Analysis:
Among the material type segments, the concrete segment is anticipated to hold the major share of the market in terms of revenue.
Among the construction segments, the permanent modular segment accounted for the maximum number of revenue shares of the global market, owing to permanent modular construction are inexpensive. However, the relocatable modular segment is projected to grow at a significant rate during the forecast period, due to the increasing adoption of relocatable modular construction for commercial projects and offices.
Among the product type segments, the roofs & floor are expected to hold a major share in terms of revenue and anticipated to grow over the forecast period.
Among the application segments, the residential segment is accounted for a major revenue share in the global modular construction market, increasing residential housing construction activities with a burgeoning population, rapid urbanization, and strong economic growth.
Regional Analysis:
The Asia Pacific market is projected to account for significant revenue share in the target market, owing to increasing FDI inflows in construction, increased construction projects, and real-estate development in the countries in the region. Additionally, rising industrialization and the necessity for time-saving construction methods have broadened the possibility of modular construction is a factor expected to drive the growth of the global market. The market in the Asia Pacific region is also cherishing the growth of construction in countries such as China, Japan, Australia, India, Korea, Thailand, and Malaysia. China is expected to be the major consumer of modular construction. Chinese prefabrication manufacturers are working together with global producers to solve the crisis for houses. Recently, in 2016, UK housing association joint venture with a Chinese state-owned construction company to build 25,000 modular homes over the forecast period.
Global Modular Construction Market Segmentation:
Segmentation by Material Type:
• Concrete
• Steel
• Plastic
• Wood
• Others
Segmentation by Construction:
• Permanent Modular
• Relocatable Modular
Segmentation by Product Type:
• Walls
• Roofs & Floor
• Columns & Beams
• Others
Segmentation by Application:
• Residential
• Commercial
• Industrial
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
ACS Group
Skanska AB
Komatsu Ltd.
LARSEN & TOUBRO LIMITED
Balfour Beatty Plc.
Kiewit Corporation
Taisei Corporation
Red Sea Housing Services
System House R & C Co. Ltd
Bouygues Construction
Scope:
| Report Data | Market |
| Forecast 2022 | XX million/billion (2022-2032) |
| CAGR 2022 - 2032 | % |
| Analysis Period | 2022 - 2032 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2032 |
| Segments Covered | By Type, By Application, And by Regions |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | . |
| Key Segments | By Type By Applications |
| Report Coverage | Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Frequently Asked Questions
What is the future market value of the ?
The current market value for is expected USD XX million/billion by 2022.
What is the CAGR of the Market?
The is to grow at a CAGR of 5.3% during the forecast by 2032.
What is the Market segment?
On the basis of type, the is segmented into Types.
Who are the key players operating in the ?
The major players operating in the are Company.
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