Press Release

Modular Construction Market to Surpass $ 142 Billion by 2024

Growing construction sector and rapid industrialization to drive global modular construction market through 2024

According to a recent report published by TechSci research on Global Modular Construction Market By Material, By Type, By End User, Competition, Forecast & Opportunities, 2024”, global modular construction market is projected to cross $ 142.5 billion by 2024, owing to rising construction activities in emerging economies. Moreover, increasing inclination towards sustainable construction methods is pushing reliance on modern construction techniques, subsequently creating growth opportunities for modular construction across the globe. In terms of type, global modular construction market is categorized into permanent and relocatable, of which the latter accounted for majority share in global modular construction market in 2018. The category is anticipated to witness the fastest growth during forecast period as it saves time and labor that are required for construction, thereby reducing the construction cost significantly.

Browse 12 market data Tables and 95 Figures spread through 134 Pages and an in-depth TOC on "Global Modular Construction Market"

Among regions, Asia-Pacific region is expected to account for the largest share in global modular constructions during forecast period. The growth of Asia-Pacific modular construction market is led by increasing government funds in Australia, and the opportunities created in countries like India and China by various government initiatives. China is anticipated to be the largest market for modular construction in the Asia-Pacific region due to increasing urbanization, growing demand for buildings at affordable costs and favorable government policies and plans.

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“Factors like growing demand for affordable housing, growing infrastructure investment, industrialization and ease of installation and relocation is fueling growth in global modular construction market. Moreover, rising support from government in form of favorable regulations and policies is further bolstering the growth of the market. Additionally, modular constructions take less time and money when compared to conventional constructions, which would further steer growth in the market.” said, Mr. Karan Chechi Research Director with TechSci Research, a research-based India management consulting firm.

Global Modular Construction Market By Material, By Type, By End User, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global modular construction market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global modular construction market.

About TechSci Research

TechSci Research is a leading India market research firm publishing premium market research reports. Serving 700 India clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking India and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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