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In 2021, the market for modular construction was estimated to be worth USD 137.8 billion. From 2023 to 2030, the market will increase at a CAGR of 9.1%. By 2030, it is anticipated that the market for modular construction will be worth USD 277.76 billion. The market for economical, environmentally friendly, high-quality modular structures has expanded as a result of rising construction industry expenditure. People's experiences with modular construction are being improved thanks to new technology, which is anticipated to create market expansion chances over the course of the forecast period.
Modular construction is the process of creating a building off-site and putting it together in a controlled environment at its ultimate location. Lean construction methods are being used in the modular building sector to streamline operational workflows and boost output, efficiency, and safety. Depending on the design, modular modules might just contain a section of a room or fully functional rooms like toilets or lifts. Modular construction causes fewer site interruptions and less waste than traditional construction. Modular construction can be used to create a variety of buildings, including industrial buildings, classrooms, construction camps, and military housing. Due to their lower cost and simplicity of installation, modular modules will probably grow in popularity in the hotel and educational sectors. Although modular building is widely employed, its development is significantly hampered by the lack of dependability in earthquake-prone areas.
Construction-related death rates have remained stable. The building industry's biggest challenge is still safety. The advantages of modular construction can aid in resolving these problems. The chances of accidents and associated liabilities for workers are decreased by off-site construction. Work-zone safety has improved because to the use of modular construction while building and developing stadiums, bridges and buildings. For instance, while building a bridge on-site, employees are exposed to fast-moving traffic for an extended period of time and other construction-related risks, which raises the risk of accidents. For usage in operating rooms, clinics, and dental offices, modular construction focuses on features that are silent, secure, and hygienic. Reducing construction timeframes and expenses while seeking high-quality building materials and projects are important in this market.
Report Coverage
Global Modular Construction research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Modular Construction report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Modular Construction competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Modular Construction market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Modular Construction market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Modular Construction market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Skanska AB, Speed House Group of Companies, S.G. Blocks Inc., Atco, Katerra, Balfour Construction, TAISEI CORPORATION, Bouygues Construction, Lendlease Corporation, Giant Containers Inc., Red Sea Housing, Bechtel Corporation, Kleusberg GmbH, Laing O’Rourke, and Algeco Scotsman
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Modular Construction market based on the below-mentioned segments:
Global Modular Construction Market, By Type
Global Modular Construction market, By Application
Global Modular Construction Market, By End User
Global Modular Construction market, Regional Analysis
Modular construction is the process of creating a building off-site and putting it together in a controlled environment at its ultimate location. Lean construction methods are being used in the modular building sector to streamline operational workflows and boost output, efficiency, and safety. Depending on the design, modular modules might just contain a section of a room or fully functional rooms like toilets or lifts. Modular construction causes fewer site interruptions and less waste than traditional construction. Modular construction can be used to create a variety of buildings, including industrial buildings, classrooms, construction camps, and military housing. Due to their lower cost and simplicity of installation, modular modules will probably grow in popularity in the hotel and educational sectors. Although modular building is widely employed, its development is significantly hampered by the lack of dependability in earthquake-prone areas.
Construction-related death rates have remained stable. The building industry's biggest challenge is still safety. The advantages of modular construction can aid in resolving these problems. The chances of accidents and associated liabilities for workers are decreased by off-site construction. Work-zone safety has improved because to the use of modular construction while building and developing stadiums, bridges and buildings. For instance, while building a bridge on-site, employees are exposed to fast-moving traffic for an extended period of time and other construction-related risks, which raises the risk of accidents. For usage in operating rooms, clinics, and dental offices, modular construction focuses on features that are silent, secure, and hygienic. Reducing construction timeframes and expenses while seeking high-quality building materials and projects are important in this market.
Report Coverage
Global Modular Construction research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Modular Construction report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Modular Construction competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Modular Construction market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Skanska AB, Speed House Group of Companies, S.G. Blocks Inc., Atco, Katerra, Balfour Construction, TAISEI CORPORATION, Bouygues Construction, Lendlease Corporation, Giant Containers Inc., Red Sea Housing, Bechtel Corporation, Kleusberg GmbH, Laing O’Rourke, and Algeco Scotsman |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Modular Construction Market from 2021 to 2030.
- Market Forecast for Modular Construction Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Modular Construction competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Modular Construction
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Modular Construction market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Modular Construction market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Skanska AB, Speed House Group of Companies, S.G. Blocks Inc., Atco, Katerra, Balfour Construction, TAISEI CORPORATION, Bouygues Construction, Lendlease Corporation, Giant Containers Inc., Red Sea Housing, Bechtel Corporation, Kleusberg GmbH, Laing O’Rourke, and Algeco Scotsman
Primary Target Market
- Market Players of Modular Construction
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Modular Construction market based on the below-mentioned segments:
Global Modular Construction Market, By Type
- Relocatable
- Permanent
Global Modular Construction market, By Application
- Plastic
- Steel
- Wood
- Precast Concrete
- Others
Global Modular Construction Market, By End User
- Healthcare
- Education
- Commercial
- Industrial and Housing
Global Modular Construction market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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