About Modular Houses
Modular domestic is one kind of prefabricated home. A modular domestic is one that is constructed indoors in a factory-like setting. Modular homes are constructed away from the residence site; however, as soon as they are ready, they are completely assembled and set up at the location. The completed merchandise are blanketed and transported to their new locations, the place a builder assembles them. These properties are regularly referred to as factory-built, system-built or pre-fab homes.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 2.68% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Modular Houses market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ACS Group (Spain), Skanska AB (Sweden), Komatsu Ltd (Japan), L&T (India), Balfour Beatty Plc. (United Kingdom), Kiewit Corporation (United States), Taisei Corporation (Japan), Red Sea Housing Services (Saudi Arabia), System House R & C Co. Ltd (Japan) and Bouygues Construction (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Laing O’Rourke (United Kingdom), Atco Ltd. (Canada), Algeco Scotsman (United Kingdom), Lendlease Corporation (Australia), Bechtel Corporation (United States) and Fluor Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Modular Houses market by and Region.
On the basis of geography, the market of Modular Houses 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). If we see Market by Construction, the sub-segment i.e. Permanent Modular will boost the Modular Houses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Concrete will boost the Modular Houses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Lean Manufacturing Techniques
Market Growth Drivers:
Growing Number of Residential, Non-Residential, and Infrastructure Projects as a result of Urbanization and Population Growth
Challenges:
Supply Chain Instability and Developers are having difficulty obtaining Low-cost Input Materials
Restraints:
Lack of Awareness and Volatility in Transportation Charges
Opportunities:
Demand for less time-consuming and more efficient construction techniques
Market Leaders and their expansionary development strategies
In November 2023, ABB Robotics is collaborating with Porsche Consulting to deliver the project to develop innovative new practices in modular housing manufacture. The collaboration will help to meet the need for more affordable and sustainable buildings and reduce the environmental impact of construction, amidst widespread labor and skills shortages.
In June 2020, Algeco Group strengthened its Nordic presence by announcing the acquisition of Wexus Group AS (Norway) from Norvestor Equity AS and other shareholders. Wexus is a leading provider of high-quality modular building solutions in the Nordic region. Headquartered in Norway, Wexus also has operations in Sweden and a modern production facility in Estonia. Wexus operates a fleet of 1,600 units, had 110 employees and revenues of USD 33.6 million in FY2019.
Key Target Audience
Modular Home Developer, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
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.