Modular Construction Market - Global Forecast to 2024

Post

The Modular construction Market, in terms of value, is projected to grow at a CAGR of XX% from 2019 to 2024. The market is estimated to be USD XX Billion in 2018, and is projected to reach XX Billion by 2024. In this study, 2018 has been considered the base year, and 2019 to 2024 the forecast period, for estimating the market size of the global market.

Date : 2019-06-25

Price Single User:
USD. 1250



Price Multiple User:
USD. 2100




OBJECTIVES OF THE STUDY

  • To define, describe, and forecast the Modular construction Market in different segmentations
  • To forecast the market size in terms of value for various segments with respect to four main regions: North America, Europe, APAC, and RoW
  • To provide detailed information regarding the major factors influencing the growth of the Modular construction Market (drivers, restraints, opportunities, and industry-specific challenges)
  • To provide a detailed overview of the value chain in the Modular construction Market and analyze the market trends with Porter’s five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth segments of the Modular construction Market
  • To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive developments such as new product launches and developments; agreements and contracts; mergers and acquisitions; and expansions in the global Modular construction Market

1 Introduction

2 Research

3 Executive Summary

4 Premium Insights
    4.1 Emerging Economies to Shift Its Focus Toward Modular Construction 
    4.2 Modular Construction Market, By Type 
    4.3 Modular Construction Market, By Material 
    4.4 Modular Construction Market, By End-Use Sector 
    4.5 Asia Pacific Modular Construction Market, By End-Use Sector & Country 
    4.6 Modular Construction Market: Key Countries

5 Market Overview
    5.1 Introduction 
    5.2 Market Dynamics 
           5.2.1 Drivers
           5.2.2 Restraints
           5.2.3 Opportunities
           5.2.4 Challenges

6 Industry Trends
    6.1 Introduction 
    6.2 Supply Chain 
           6.2.1 Product Development & Distribution are an Integral Part of the Supply Chain in the Modular Construction Market
           6.2.2 Prominent Companies
           6.2.3 Small & Medium Enterprises
    6.3 Porter’s Five Forces Analysis 
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Macroeconomic Overview 
           6.4.1 Rise in Population
           6.4.2 Increase in Middle-Class Population
           6.4.3 Developing Economies: GDP (Ppp) Growth
           6.4.4 GDP & Contribution to the Construction Industry, By Country

7 Modular Construction Market, By Type
    7.1 Introduction 
    7.2 Permanent 
    7.3 Relocatable

8 Modular Construction Market, By Material
    8.1 Introduction 
    8.2 Precast Concrete 
    8.3 Steel 
    8.4 Wood 
    8.5 Plastic 
    8.6 Others

 

 

 

 

 

9 Modular Construction Market, By Module
    9.1 Introduction 
    9.2 Four-Sided Modules 
    9.3 Open-Sided Modules 
    9.4 Partially Open-Sided Modules 
    9.5 Mixed Modules and Floor Cassettes 
    9.6 Modules Supported By A Primary Structure 
    9.7 Others

10 Modular Construction Market, By End-Use Sector
     10.1 Introduction 
     10.2 Housing 
     10.3 Commercial 
     10.4 Healthcare 
     10.5 Education 
     10.6 Industrial

11 Modular Construction Market, By Region
     11.1 Introduction 
     11.2 Asia Pacific 
     11.3 Europe 
     11.4 North America 
     11.5 Middle East 
     11.6 South America 
                     

 

*Business Overview, Products Offered, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

The permanent buildings segment is projected to grow at the highest CAGR in the global modular construction market from 2019-2024.

The permanent buildings segment is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume, due to the rising demand for new construction activities at reduced time and cost. Permanent modular construction saves time and labor that are required for construction, thereby reducing the construction cost significantly. It is a sustainable and innovative construction delivery method that utilizes offsite manufacturing techniques to prefabricate multi-story or single building solutions in deliverable module sections. These structures are intended to remain in a single location for the duration of their lifetime. The primary markets served by permanent modular buildings include residential, office and administrative space, K-12 education, retail and hospitality, healthcare, higher education student housing, and publicly funded facilities.

Steel is estimated to be the majorly consumed material in the modular construction market in 2018

In modular construction, buildings are typically constructed with steel frame, steel, cold form steel wall panels, and hot rolled steel framework. In terms of material consumption, steel accounts for the largest share in the modular construction market. It is known for its strength-to-weight serviceability. Steel frame offers numerous advantages over wood framed relocatable buildings including design flexibility, strength, structural integrity, durability, security and fire resistance, reducing the need for repairs and maintenance throughout the building’s life span. Furthermore, steel frame is also lighter in comparison to other wall materials which allows the building structures created from it to be craned and transported into place in a more efficient way, resulting in less disturbance to the local area and reducing cost. It is one of the most popular material for use in relocatable buildings such as commercial buildings, warehouses, and retail outlets.

The Asia Pacific is projected to hold the largest share in the modular construction market during the forecast period

The Asia Pacific is projected to dominate the modular construction market through 2024. This market position is attributed to the increase in number of new housing units and huge investments in the infrastructural sector. In addition, the tremendous growth of the construction opportunities in countries such as China, Australia, India, Japan, Korea, Thailand, Malaysia, and Indonesia is further projected to boost the growth of the modular construction market in the region. China is estimated to be the largest market for modular construction in the region as well as globally, and this trend is expected to continue over the next five years.

Key players operating in the modular construction market include Laing O’Rourke (UK), Red Sea Housing (Saudi Arabia), ATCO (Canada), Bouygues Construction (France), VINCI (France), Skanska AB (Sweden), Algeco Scotsman (US), KLEUSBERG GmbH & Co. KG (Germany), KEF Katerra (India), and Lendlease Corporation (Australia). These players possess enhanced modular construction capabilities and focus on creating awareness about this dynamic technology. Contracts, new projects, acquisitions, agreements, joint ventures, partnerships, and expansions are some of the major strategies adopted by key players operating in the modular construction market.