Dublin, Jan. 15, 2025 (GLOBE NEWSWIRE) — The “Modular Construction – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for modular construction was valued at USD 105.9 billion in 2023 and is projected to reach USD 144.8 billion by 2030, growing at a CAGR of 4.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends. drivers and forecasts, helping you make informed business decisions.
Growth in the modular construction market has been driven by several factors, including technological advancements in construction processes, increased demand for cost-effective and efficient construction methods, and growing environmental concerns that require sustainable construction practices. Increasing urbanization and the continued expansion of the industrial sector worldwide also contribute to the increased adoption of modular construction.
Consumer behavior has shifted towards more sustainable and faster construction solutions, especially in urban areas where time and space are at a premium. Additionally, regulatory bodies are increasingly recognizing the benefits of modular construction, leading to more favorable building policies and standards that support the adoption of modular techniques. This regulatory support, combined with economic and environmental benefits, continues to drive the market forward.
How is technology influencing modern modular construction?
Technological advances are greatly influencing the modular construction industry. The integration of Building Information Modeling (BIM) techniques has revolutionized the planning and management of modular construction projects. BIM provides a digital representation of the physical and functional characteristics of an object, allowing for better project management and coordination among all stakeholders involved.
In addition, the use of advanced manufacturing techniques and automation in the production of modular units ensures accuracy, reduces labor costs and speeds up the construction process. These technological improvements not only improve build quality, but also expand the possibilities for customization and scalability in modular construction projects.
Why are more industries embracing modular construction?
The shift to modular construction has been driven by its many advantages over traditional construction methods. These include shorter construction times, reduced environmental impact and the ability to mitigate common risks associated with construction sites. Industries that face rapid growth or need rapid expansion, such as healthcare, education and housing, find modular construction particularly useful.
For example, hospitals can expand their facilities with minimal disruption to existing operations, and educational institutions can quickly add classrooms or labs in response to changing student populations. The predictability and speed of installation make modular construction a practical solution for businesses and government entities that need to respond quickly to the needs of society.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD million from 2023 to 2030.
- In-depth regional analysis: Detailed insights into key markets, including the US, China, Japan, Canada, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
- Company Profiles: Coverage of major players such as Algeco Scotsman, Inc., Alta-Fab Structures Ltd., Art’s Way Manufacturing Co., Inc., and more.
- Complementary updates: Get free report updates for a year to keep you informed of the latest market developments.
Key insights:
- Market Growth: Understand the significant growth trajectory of the Permanent Modular Construction segment, which is expected to reach USD 90.0 billion by 2030 at a CAGR of 4.9%. The Movable Modular Construction segment is also set to grow at 4.1% CAGR during the analysis period.
- Regional Analysis: Gain insights into the US market, which was valued at $28.1 billion in 2023 and China, is projected to grow at an impressive CAGR of 7.0% to reach $31.6 billion by 2030. Discover the growth trends in other key regions, including Japan, Canada, Germany and Asia-Pacific.
Main attributes:
| The report attribute | The details |
| Number of pages | 292 |
| Forecast period | 2023 – 2030 |
| Estimated market value (USD) in 2023 | 105.9 billion dollars |
| Projected market value (USD) by 2030 | 144.8 billion dollars |
| Compound annual growth rate | 4.6% |
| Regions covered | global |
Main topics covered:
MARKET SUMMARY
- Influencer Market Insights
- World Market Trajectories
- Global economic update
- Modular Construction – Market Share of Major Global Competitors in 2024 (E)
- Competitive market presence – strong/active/country/irrelevant for worldwide players in 2024 (E)
MARKET TRENDS AND RIGHTS
- The increasing demand for sustainable and environmentally friendly construction drives the adoption of modular buildings
- Cost-effectiveness and reduced construction time reinforce the growth of the market for modular construction
- Technological Advances in Prefabrication Processes Propel Innovations Industry
- Increasing Urbanization and Demand for Housing Boost Modular Construction Projects
- Government initiatives promoting affordable housing increase the possibilities of modular construction
- Strict building regulations support the adoption of controlled construction practices
- Advances in 3D printing and robotics expand capabilities in modular buildings
- Expansion of Modular Construction in Healthcare and Education Sectors Drives Market Growth
- Consumer preferences for customizable and flexible building designs Propel Modular Solutions
- The development in high-rise modular buildings opens up new market segments
- The growing popularity of tiny houses and modular housing trends reinforce the dynamics of the market
FOCUS ON SELECTED PLAYERS (Total 37 featured)
- Algeco Scotsman, Inc.
- Alta-Fab Structures Ltd.
- Art’s Way Manufacturing Co., Inc.
- ATCO Ltd.
- Bouygues Construction
- CIMC Modular Building Systems Holdings Co. Ltd.
- Clayton Building Solutions
- DuBox
- Fleetwood Australia
- Guerdon Enterprises LLC
- The Hickory Group
- Horizon North Logistics Inc.
- JD Irving
- KEF Kattera
- KLEUSBERG GmbH & Co. KG
- KOMA Modular sro
- Kwikspace Modular Buildings
- Laing O’rourke
- Lendlease Corporation Limited
- Modular Space Corporation
- Nrb Inc.
- Red Sea Housing Services
- Skanska AB
- Vinci
- Wernick Group (Holdings) Ltd.
- Westchester Modular Homes Inc.
For more information about this report visit https://www.researchandmarkets.com/r/9cx8bf
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The modular construction market
