Modular Construction Market Overview :
Modular construction is a process to illustrate the use of factory made pre-engineered building parts that are transported to site and assembled as large volumetric components or as significant elements of a building. They are constructed off-site, under organized plant conditions, using the same materials and designing to the same codes and benchmarks as typically built facilities but in about half the total time. The modular parts may form complete rooms, part of rooms, or discrete highly serviced units such as lifts or toilets. The collection of discrete modular components generally forms a self-supporting construction in its own or for tall buildings, that may rely on an separate structural framework. Buildings are constructed in modules when put together on site, shows the identical design and specifications of the most urbane site-built facility without compromise.
Growing demand from infrastructure and construction industries, increasing population and urbanization, more flexible process than traditional method, time and cost effective method of construction by reducing shipping and labor cost are the major factors fueling the growth of the global modular construction market. However, increased transportation logistics requirements because of size & weight limitations, and the need for lifting equipment are the major hindrance for the market growth. Moreover, growing population and urbanization in the underdeveloped economies with increasing need for infrastructure in the region is expected to open up new growth opportunities over the years to come.
Material, product type, construction, application, and geography are the major segments considered in the global modular construction market. The material segment is sub-segmented into steel, concrete, wood, plastic, and other materials. By product, the segmentation includes walls, roofs & floors, columns & beams, and other product types. Construction segment consist of permanent modular, and relocatable modular. Furthermore, application segment is bifurcated into commercial, residential, and industrial.
Based on geography, the global modular construction market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key players operating in the market include ACS Group, Skanska AB, Komatsu Ltd, LARSEN & TOUBRO LIMITED, Balfour Beatty Plc., Kiewit Corporation, Taisei Corporation, Red Sea Housing, System House R & C Co. Ltd, and Bouygues Construction, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Global Modular Construction Market with respect to major segments such as material, product type, construction, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of the Global Modular Construction Market has been included in the report
- Profile of the key players in the Global Modular Construction Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Modular Construction Market
- Other Materials
Product Type segments
- Roof & Floors
- Columns & Beams
- Other Product Types
- Permanent Modular
- Relocatable Modular
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East