The Business Research Company’s report on the Modular Construction Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the modular construction market?
The upsurge in demand for construction is expected to propel the modular construction market going forward. The construction industry is the industrial branch of trade and manufacturing that is concerned with the construction, repair, renovation, and maintenance of infrastructures. The construction activities are creating a demand for modular construction to facilitate the faster construction of residential and commercial buildings. This construction enables the construction business to speed up the entire project by facilitating the establishment of climate-controlled facilities and minimizing labor expenses, thereby significantly reducing work and time. For instance, in the 2022 U.S. Construction Cost Trends report, in the U.S., there is a rise in residential construction which will continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic’s onset. Therefore, increasing construction activities will drive the modular construction market.
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How has the modular construction market size evolved, and what are the latest forecasts for its expansion?
The modular construction market size has grown strongly in recent years. It will grow from $101.67 billion in 2024 to $108.6 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industrialization and mass production principles, post-war housing demands, cost and time efficiency, sustainability awareness, transportation infrastructure development.
The modular construction market size is expected to see strong growth in the next few years. It will grow to $150.79 billion in 2029 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to resilient and disaster-ready solutions, government support and regulations, healthcare and education sector growth, flexibility in design, workforce shortages. Major trends in the forecast period include regulatory support, healthcare and education facilities, resilience and disaster response, cost predictability, flexibility and customization.
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Which major companies dominate the modular construction market?
Major companies operating in the modular construction market are Bouygues Construction SA, Laing O’Rourke, Skanska AB, ATCO Ltd., Balfour Beatty Plc., Taisei Corporation, Supertech Industries LLC, Anderco Pte. Ltd., Giant Containers Inc., Honomobo Corporation, Lendlease Corporation, SG Blocks Inc., Guerdon L.L.C, Modulex PLC, Bechtel Corporation, ACS Group, Fluor Corporation, JL Construction, Julius Berger Nigeria PLC, Kiewit Corporation, Larsen & Toubro Limited, McGRATH RENTCORP, Palomar Modular Buildings, Red Sea Housing Services, SEKISUI CHEMICAL CO. LTD, System House R & C Co. Ltd, WillScot Mobile Mini Holdings Corp, Westchester Modular Homes, Koma Modular
What trends will shape the future of the mobility as a service market?
Product innovations are a key trend gaining popularity in the modular construction market. Major companies operating in the modular construction market are introducing innovative products to sustain their position in the modular construction market. For instance, in February 2022, Black Buffalo 3D Corporation, a US-based company operating in modular construction, launched NEXCON 3D printers, a 3D modular construction printer. Black Buffalo 3D’s NEXCON involves 3D printing technology that addresses traditional challenges in the construction industry with unique features of Black Buffalo 3D’s NEXCON such as it can print components or walls more quickly, more affordably, and with a stronger, more durable end product utilizing a motion-centric modular gantry design that produces more effective structures. The multi-axis gantry system is optimized to produce accurate prints for any 3D-modeled design that can be developed using normal CAD software, and it is capable of printing buildings up to three stories high.
Which region dominates the modular construction market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the modular construction market share in 2024. The regions covered in the modular construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the modular construction market segmented, and which segment holds the largest share?
The modular construction market covered in this report is segmented –
1) By Type: Permanent, Relocatable
2) By Material: Steel, Wood, Concrete
3) By Module: Four-sided, Open-Sided, Partially Open-Sided, Mixed modules And Floor Cassettes, Modules supported By A primary structure, Other Modules
4) By End-Use Sector: Residential, Office, Education, Retail And Commercial, Hospitality, Healthcare, Other End Users
Subsegments:
1) By Permanent: Modular Buildings, Permanent Structures
2) By Relocatable: Temporary Facilities, Mobile Units
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How is the modular construction market defined?
Modular construction is a process in which buildings are manufactured off-site while adhering to the same building norms and requirements as traditional construction methods. It is utilized in the construction of various buildings since it has numerous advantages such as saving time, lowering labor costs, reducing volume of waste, and boosting productivity by delivering standardized components.
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