Modular Construction Market research report (2018 – 2023) studies market insights, List of major Key players, buyers, threats of new entrants and substitute products. Also, Modular Construction market includes the various market dynamics like Drivers, Restraints, and Opportunities globally. The research report involved the various affecting factors like market growth, market share, competitive intelligence and growth opportunity.
“Modular Construction Market report is expected to register a CAGR of XX% over a five years forecast period.”
List of Major Key players operating in the Global Modular Construction Market are –
- ACS Actividades de Construcción y Servicios S.A.
- Balfour Beatty Plc
- Bouygues Construction
- Byrne Modular Buildings Co. LLC
- Guerdon Modular Buildings
- JL Modular
- Julius Berger Nigeria Plc
- KEF Infra
- Kiewit Corporation
- Komatsu Ltd.
- Laing O’Rourke
- Modcon Group
- Palomar Modular Buildings
- Red Sea Housing Services
- Skanska AB Larsen & Toubro Limited
- System House R & C Co. Ltd.
- Taisei Corporation
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The global modular construction market is expected to witness a moderate CAGR during the forecast period, 2018 to 2023. Modular construction is a type of construction where the building structures/ designs are pre-built under controlled conditions and later installed on the site of requirement. The United States and the United Kingdom are some of the key countries for the modular construction market.
Increasing Construction Activities in Developing Economies
Rising demand for construction from Asia-Pacific can mainly be attributed to the increasing amount of government funds in Australia, and the opportunities created in India by government initiatives. Australia’s construction practices have become obsolete, and are referred to as “inefficient”. The government is planning to expand R&D in technologies, including 3D printing, artificial intelligence, robotics, and automation. This increased R&D will likely enable construction of metropolitan cities with greater efficiency and lesser cost, besides being considerate of environmental impact. In July 2017, Perth-based Company, Fastbrick Robotics, signed a deal with the construction equipment manufacturer, Caterpillar, to develop The Hadrian X, a digital construction system that manufactures houses at cheap and affordable prices. In India, the government plans to build 50 million homes and more than 90 smart cities by 2022. The Indian market is in its nascent stage, and these government plans are providing opportunities for offsite construction and pre-fabricated modular units. Certain cities, like Bengaluru, have included modular construction in the residential and industrial sectors.
Office Construction to Dominate the Modular Construction Market
Modular blocks play a wide role in the construction of offices and related cabins. Modular construction technology is used to build office cabins, kitchens, conference rooms, lobbies, restrooms, and also open spaces for partition systems. Almost 40% of the low-rise offices across the globe are constructed through modular blocks. This helps the companies to save a lot of time and money, which are crucial factors in any business. The increasing young age population (20-30 yrs) primarily in developing nations and urbanization in many countries are some of the key factors are boosting the demand for new offices. This scenario, in turn, is boosting the demand for modular construction.
Significant Rate of Growth in United States
Modular construction of the United States is expected to increase at a moderate pace, mainly because of opportunities created by government schemes and acquisitions by companies. According to the United States Census 2016, a small number of houses are modularly constructed. Annually, only 2% of new single family homes is constructed through modular means. Modular construction is seen as an efficient solution for mass home production. Modular construction is currently used as a solution to non-conventional housing needs. Companies are showing an active interest in understanding the US market, and in making significant capital investment. Sekisui House, a Japanese modular construction firm, has recently purchased the Salt Lake City-based homebuilder, Woodside Homes.
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Global Modular Construction Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2018-2023):
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
- Asia Pacific (China, Japan, India, Southeast Asia and Australia)
- Latin America (Brazil, Argentina and Colombia)
- The Middle East and Africa
Key Questions Answered About Modular Construction Market:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the Modular Construction market for selective countries?
- Which region or sub-segment is selected is expected to drive the market in the forecast period?
- What factors are estimated to drive and restrain the market growth?
- What are the key technological and Modular Construction market trends shaping the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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Reasons to Purchase Modular Construction Market Report:
- The report analyses how stringent emission control norms will drive the global Modular Construction market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Modular Construction market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
Scope of the Report:
The report analyses Modular Construction market, which includes –
- Analysis of the growth of Modular Construction market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Modular Construction market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Modular Construction market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Modular Construction market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
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