About Modular Construction
In Modular Construction, a building is constructed off-site under the controlled plant conditions with the application of same material as well as designing to the same codes & standards used whereas building a conventional facilities by use of the half of the time. The building is built in modules & reveals the identical design, after put together, specifications of most sophisticated of site building facility short of any negotiation. The modular units might be in the form of greatly serviced units including complete rooms or parts of a room, lifts or toilets. The assortment of distinct modular units typically constructs a self-supporting structure in its own or for tall buildings that may depend on on an independent structural framework. Growing infrastructure investment and industrialization, especially in Asia-Pacific countries such as China, India is the key driver for the growth of the global modular construction market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.4% |
Many Chinese prefabrication manufacturers are collaborating with global manufacturers to solve their houses crisis problem. For example,Your Housing Group (United Kingdom) has signed a deal of USD 2.77 billion with the state-owned China National Building Material Company. With this project, 25,000 new homes are likely to be constructed during the next five years. Analyst at AMA Research estimates that Japan, United Kingdom, and United States Manufacturers will contribute the maximum growth to Global Modular Construction market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Laing O’Rourke (United Kingdom), Skanska AB (Sweden), Komatsu Ltd (Japan), Kiewit Corporation (United States), Larsen & Toubro Limited (India), Taisei Corporation (Japan), Balfour Beatty PLC (United Kingdom), ACS Group (Spain), Red Sea Housing Services (Saudi Arabia), System House R & C Co. Ltd (Japan), Bouygues Construction (France), ATCO (Canada) and Bouygues Construction (France) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are VINCI (France), Algeco Scotsman (US), KLEUSBERG GmbH & Co. KG (Germany), KEF Katerra (India) and Lendlease Corporation (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Modular Construction market by Type (Permanent and Relocatable), Application (Housing, Commercial, Education, Healthcare and Industrial) and Region.
On the basis of geography, the market of Modular Construction has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2023. If we see Market by Material, the sub-segment i.e. Precast Concrete will boost the Modular Construction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Module, the sub-segment i.e. Partially Open-Sided Modules will boost the Modular Construction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Infrastructure Investment & Industrialization
Market Growth Drivers:
Ease of Installation and Relocation, Growing Concern toward Work-Zone Safety & Requirement for Lower Environment Impacts and Requirement for Reduced Construction Cost & Time
Challenges:
Dearth of Awareness
Restraints:
Economic Downturn in Key Regions
Opportunities:
Growing Population Coupled with Rapid Urbanization Turning to a Large Number of New Construction Projects
Market Leaders and their expansionary development strategies
In July 2020, Bouygues Construction (France) has acquired AW Edwards Pty Limited (Australia). This acquisition strengthened its position in the construction market. AW Edwards Pty Limited will be the part of Bouygues Bâtiment International.
In November 2023, Tennet launches 'Modular Building Large Projects' for accelerated electricity grid expansion. TenneT yesterday kicked off its 'Modular Construction for Large Projects' program. The kick-off took place in a bustling Rijtuigenloods, together with 300 guests.
Singapore has authorized elements of prefabricated, pre-finished, as well as volumetric construction (PPVC) for all projects on government land. With this, the government also provides subsidies for companies which are aim of increasing as well as standardizing modern methods of construction (MMC) in the country.
Key Target Audience
Modular Construction Service Providers, Raw Material Suppliers, Module Manufacturers, Associations and Industry Bodies, Government & Regulatory Bodies and End Users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.