Monday, 25 September 2023 09:05 GMT

Global Modular Construction Market: Revolutionizing The Building Industry With Efficient And Sustainable Solutions X Herald

(MENAFN- Ameliorate Digital Consultancy) As per the study initiated by Evolve Business Intelligence, the global Modular Construction market size accounted for USD 150.1 Billion in 2022, growing at a CAGR of 8.1% from 2023 to 2033. The modular construction market refers to the industry involved in the design, manufacturing, and assembly of prefabricated building modules that are manufactured off-site in a factory-controlled environment and then transported to the construction site for final assembly. Modular construction offers a more streamlined and efficient approach to building construction, with the potential for faster project completion, cost savings, and improved quality control. The modular construction market is driven by factors such as the need for faster construction timelines, cost efficiency, sustainability, and the demand for flexible and adaptable building solutions. Modular construction allows for simultaneous activities to occur at the factory and on-site, reducing construction time and labor requirements. It also offers the potential for cost savings through economies of scale, reduced material waste, and improved project management.

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Key Highlights:

  • The global Modular Construction Market size was valued at USD 1 billion in 2022 growing at a CAGR of 8.1% from 2023 to 2033.
  • North America dominated the market in 2022
  • Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033

Evolve Business Intelligence has published a new market research report on Global Modular Construction Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

In terms of COVID 19 impact, the Modular Construction market report also includes the following data points:

  • COVID19 Impact on Modular Construction market size
  • End-User/Industry/Application Trend, and Preferences
  • Government Policies/Regulatory Framework
  • Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
  • Opportunity in Modular Construction market

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Key Players

Some of the major Modular Construction players holding high market share include ATCO, Anderco Pte. Ltd, Giant Containers Inc, and Bechtel Corporation. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:

  • ATCO
  • Anderco Pte. Ltd
  • Giant Containers Inc
  • Bechtel Corporation
  • Lendlease Corporation
  • SG Blocks Inc
  • Skanska AB
  • Speed House Group of Companies
  • Supertech Industries LLC
  • Fluor Corporation
  • Modulaire Group

Segmental Analysis

Market Segment By Type with focus on market share, consumption trend, and growth rate of Modular Construction Market:

  • Permanent
  • Re-locatable

Market Segment By Material with focus on market share, consumption trend, and growth rate of Modular Construction Market:

  • Steel
  • Wood
  • Concrete
  • Others

Market Segment By end-user with a focus on market share, consumption trend, and growth rate of the Modular Construction Market:

  • Residential
  • Commercial
  • Industrial
Parameters Details
Market Size (2022) $ 150.1 Billion
CAGR (2023 to 2033) 8.1%
Market Segmentation Type, Material, End User
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America

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Global Modular Construction Geographic Coverage:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Nordic Countries
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Australia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of MEA
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Rest of Latin America

Reasons to Buy this Report:

  • Detail analysis of the impact of market drivers, restraints, and opportunities
  • Competitive Intelligence provides an understanding of the ecosystem
  • Details analysis of the Total Addressable Market (TAM) of your products
  • Investment Pockets and New Business Opportunities
  • Demand-supply gap analysis
  • Strategy Planning

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.

Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune's global 2000 companies.

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