Modular Construction Market By Material Type (Concrete, Steel, Plastic, Wood), By Construction (Permanent Modular, Relocatable Modular), By Product (Walls, Roof & Floors, Columns & Beams), By Application (Residential, Commercial, Industria), Industry Analysis, Trends, and Forecast 2018 – 2024
Modular Construction Market was valued at USD 100.2 billion in 2017 and is projected to reach around USD 165.2 billion by 2024, at a CAGR of XX% during the forecast period. The base year considered for the study is 2017 and the forecast period is 2018-2023. Rapidly increasing construction around the world and infrastructure development in developing countries are expected to remain the major key driver for the growth of global modular construction market.
Scope of Global Modular Construction Market Reports –
Modular buildings or houses are prefabricated construction that made up of repeated sections called modules. Modular construction is an innovation in construction industry where installation of the prefabricated sections is completed on site. The main advantage of modular building, may use temporary or long use. It is very demanding in remote and rural areas where conventional construction is not easily possible.
Global Modular Construction Market report is segmented on the basis of material type, construction type, product, application type, and by regional & country level. Based upon material type, global modular construction market is segmented into concrete, steel, plastic and wood. Permanent modular and relocatable modular are the construction type segment of the modular construction market. Walls, Roof & Floors, and Columns & Beams are the product segment of the modular construction market. Based upon application type, global modular construction market is segmented into residential, commercial and industrial.
The regions covered in this Modular Construction Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of modular construction is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Global Modular Construction Market Reports-
Some major key players for global Modular Construction market are Modular Space Corporation, Dubox, Kwikspace Modular Buildings, Guerdon Enterprises LLC, Alta-Fab Structures, Westchester Modular Homes, Wernick Group, Fleetwood Australia, NRB Inc., Koma Modular, Hickory Group, Clayton Homes, J.D. Irving, Horizon North Logistics, Art’s Way Manufacturing, ACS Group, Skanska AB, Komatsu Ltd, L&T, Balfour Beatty Plc., Kiewit Corporation, Taisei Corporation, Red Sea Housing Services, System House R & C Co. Ltd, Bouygues Construction and others.
Global Modular Construction Market Dynamics –
Growing demand for construction and initiatives taken by government in Asia Pacific is fueling the growth of global modular construction market. In remote and rural areas stick built construction is not easily possible due to the lack of transportation service and environment. Therefore, the demand of modular construction is high from remote and rural areas, this is the key driving factor of the global modular construction. In addition, the increasing population and urbanization all over the world is expected to increase the growth of the modular construction market.
The global modular construction market is segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW). Asia Pacific dominated the global modular construction market by the year end of the forecast period 2024. Indian government plans to build 50 million homes and more than 90 smart cities under Smart Cities Mission lead by Prime Minister Narendra Modi. Furthermore, Asia-Pacific witnessed the fastest growing market and is expected to expand at highest CAGR during the forecast period. North America was the second largest region for global modular construction market. In addition, Latin America and Middle East countries are also likely to represent significantly growing market.
Key Benefits for Global Modular Construction Market Reports –
- Global Modular Construction Market report covers in-depth historical and forecast analysis.
- Global Modular Construction Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Modular Construction Market report helps to identify opportunities in marketplace.
- Global Modular Construction Market report covers extensive analysis of emerging trends and competitive landscape.
Modular Construction Market Segmentation
By Material Type
- Permanent Modular
- Relocatable Modular
- Roof & Floors
- Columns & Beams
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- The Middle East and Africa
- Rest of Middle East and Africa