Global Modular Construction Market Size is estimated to expand rapidly in coming years, at a CAGR of 7.1 % from 2019 to 2027. In 2017, the global market valuation was USD 110.5 billion, and it is anticipated to be greater than USD xx.xx billion by 2027. The expansion of the modular construction markets is driven by growth in infrastructure investment as well as industrialization, ease of installations and relocations and demand for affordable housing. It is expected that the housing sector will serve a larger share until 2025. This technology contributed to its use in building development due to its cost-effectiveness and the time-saving properties. It also provides numerous advantages for quality control, quicker construction times, greater flexibility and reuse, cost savings and environmental advantages.
Increased demand for affordable housing and increased investment in healthcare and commercial infrastructure development are projected to have a positive influence on growth in the sector.
Global Market Growth Opportunities (Revenue, Growth) By 2019-2027
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global modular construction market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global modular construction market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Material Insights: On the basis of material, global modular construction market has been segmented into steel precast concrete, wood, plastic. The most important part of the modular construction industry was steel in 2018. The widespread use of modular construction was motivated by design flexibility, strength, structural integrity, reliability, protection and fire resistance, as well as the decreased demands for repairs and maintenance over the life of a building.
By Type Insights: On the basis of type, global modular construction market has been segmented into permanent, relocatable. The market dominated by permanent modular construction in 2018 was quality generated by the increasing demand for affordable houses and by the high level of control over on-site buildings. Permanent modular building, including in housing, office and administrative areas, educationK-12, retail and accommodation, healthcare, student residential higher education, and publicly-funded facilities, is commonly employed.
The modular construction market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
Global Modular Construction Market Size, Share Analysis by Region 2018
In 2018, in terms of value, Asia Pacific dominated the market. China is a major player in the modular building industry in Asia-Pacific. The demand for modular construction in the region is driven by increasing urbanization, increased demand for buildings at affordable cost and favorable policies and plans. Chinese manufacturers continue to work with global manufacturers to resolve their house crises.
Due to its high rates of penetration in Germany, Finland, the United Kingdom, and Sweden, Europe was the second largest market for modular design in 2018. Migrants, which will have to build temporary and permanent housing facilities, will be expected to increase their primary drivers.
Global Modular Construction Market Study Objective
To forecast the market size of modular construction market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
Market analysis and forecast of modular construction market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
To analyze and elaborate significant factors that will have a major impact on the growth of modular construction market, such as drivers, restraints, challenges, and opportunities.
The regional analysis of modular construction market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
To provide detailed analysis of competitive and strategic developments in the modular construction market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Laing O'Rourke, Katerra, Skanska AB, Red Sea Housing, Dubox, and Sekisui House Ltd are some of the key players in the market of modular construction. In order for companies to become marketplaces, they are undertaking strategic initiatives in both developed and developing countries, such as fusions and acquisitions, new product development and risk capital investments. Industries invest in technological solutions to improve distribution, front end sales and service to customers.
Global Modular Construction Market Study Report Offer You!
The global modular construction market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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