Global modular construction market
was valued at $ 102 billion in 2018 and is projected to grow at a CAGR of over
5.5% to surpass $ 142.5 billion by 2024, owing to rising demand for complex
structures at affordable rates along with rapid urbanization and
industrialization. Modular construction is a term used to describe the use of
factory-produced pre-engineered building units that are delivered to site and
assembled as large volumetric components or as substantial elements of a
building. The modular units may form complete rooms, parts of rooms, or
separate highly serviced units such as toilets or lifts. Completed modules are
delivered to the site and pieced together to form a finished building.
Spending on
infrastructure is a major driver for global modular construction market. It is anticipated
that the spending on infrastructure and capital projects would grow
significantly over the next few years. India, China and other countries in Asia-Pacific
are investing considerably in the infrastructure market. Moreover, modular
construction reduces build time by 30-50%. The process is cost-effective due to
less labor involved in on-site activities. Thus, the need for time saving
construction methods is widening the growth scope of global modular construction
market.
In terms of
material, global modular construction market is categorized into steel, precast
concrete, wood, plastic, aluminium and others. Of all, precast concrete captured
majority of global modular construction market in 2018 and is expected to continue
its dominance throughout forecast period as well. The category is also
predicted to witness the fastest growth during forecast period.
Global modular
construction market has several manufacturers, with moderate competition. Most
manufacturers target Asian countries including India and China, wherein the
construction industry is bolstering. Some of the leading players in global modular
construction market are ACS Group, Skanska AB, Taisei Corporation, Lendlease Corporation,
Balfour Beatty Plc., L&T among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To
analyze and forecast the market size of global modular construction market.
- To
classify and forecast global modular construction market based on material,
type, end user and regional distribution.
- To
identify drivers and challenges for global modular construction market.
- To
examine competitive developments such as expansions, new product launches,
mergers & acquisitions, etc., in global modular construction market.
- To
conduct pricing analysis for global modular construction market.
- To
identify and analyze the profile of leading players involved in global modular
construction market.
Click here to download the brochure
TechSci Research performed
both primary as well as exhaustive secondary research for this study.
Initially, TechSci Research sourced a list of manufacturers across the globe.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the manufacturers which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the service offerings,
distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated the market size of global modular
construction
market using a top-down
approach, wherein data for various applications
across various end-user segments was recorded and forecast for the future years.
TechSci Research sourced these values from the industry experts and company representatives
and externally validated through analyzing historical data of these product
types and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target
Audience:
- Module manufacturers
- Raw material suppliers
- Industry associations and
experts
- Market research
organizations and consulting companies
The study is useful in providing
answers to several critical questions that are important for the industry
stakeholders such as manufacturers and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, global modular
construction market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market, By Type:
- Market, By Material:
- Steel
- Precast Concrete
- Wood
- Plastic
- Aluminium
- Others
- Market, By End
User:
- Residential
- Retail
- Office
- Hotel
- Education
- Healthcare
- Industrial
- Others
- Market, by Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Rest of Asia-Pacific
- Europe
- France
- Germany
- United
Kingdom
- Italy
- Spain
- Rest of
Europe
- North America
- United
States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Columbia
- Rest of
South America
- Middle East and Africa
- UAE
- Iran
- South
Africa
- Saudi
Arabia
- Rest of
MEA
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in global modular construction market.
Available
Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company
Information
- Detailed
analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and
indirect sales channel.
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com