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Modular Construction Market

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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. – PowerPoint PPT presentation

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Title: 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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Contact Us
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  • Emailhelp_at_accurizemarketresearch.com
  • CONTACT NO1-339-368-6383

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