About Multifamily Modular Construction
Modular building is a procedure whereby devices are constructed and inspected offsite in a manufacturing facility whilst podium, foundation, and infrastructure are constructed onsite. This technique is used to amplify housing manufacturing by using accelerating development time and lowering development costs. The modular constructing enterprise in the U.S. has grown dramatically. It has actually doubled in measurement over the previous 5 years and now bills for USD eight billion of income annually. One of the extra encouraging modular development records is that extra than 80% of contractors are now the usage of some shape of offsite development methods, along with prefab and modularization. Offsite modular development data like these are mirrored in the self-belief contractors have about the predicted increase in the transportable constructing market and the modular development market in the year ahead.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The enterprise is notably aggressive with the presence of countless small, medium, and world manufacturers, catering to a vast vary of development activities. Mergers & acquisitions, strategic partnerships, joint ventures, growth of dealers, and manufacturing facilities, amongst others are key techniques adopted by means of manufacturers. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Multifamily 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.
Bechtel (United States), Katerra (United States), Prescient (India), William Scotsman (United States), Laing O-Rourke (United Kingdom), Bouygues Construction, (France), VINCI (France), Red Sea Housing (Saudi Arabia), ATCO (Canada) and Skanska AB (Sweden) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Kleusberg GmbH & Co. (KG) Germany, KEF Katerra (India), Lendlease Corporation (Australia) and Turner (United States).
Segmentation Overview
AMA Research has segmented the market of Global Multifamily Modular Construction market by Type (Permanent and Relocatable) and Region.
On the basis of geography, the market of Multifamily 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). If we see Market by End Use, the sub-segment i.e. Hospitals will boost the Multifamily 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. Four-sided will boost the Multifamily Modular Construction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Lean Manufacturing Techniques
Market Growth Drivers:
Rising their Offsite Building due to improving labor productivity, Increasing demand for New Homes in Developing Regions and Rising Adoption of Modular Construction in the Hospitality Sector
Challenges:
Fluctuations in Material Costs
Restraints:
Increased To Control Costs and Shortage of Skilled Labor in the Workforce
Opportunities:
Focused On Adopting the Latest Methods of Modular Construction to Augment Innovation the Construction Sector
Market Leaders and their expansionary development strategies
In 2021, , Etex Group introduced that it had received a majority stake in e-Loft, a French offsite development corporation that gives options in three unique modular domains, inclusive of single-family modular homes, modular multifamily residential complexes, and 3D timber technology-based custom-designed buildings, which is predicted to raise the company’s modular development business.
In 2021, Laing O' Rourke, ISG, Wates and Kier have been appointed with the aid of the Minsitry of Justice for constructing the Alliance four New Prison really worth euro 1 billion , for male prisoners throughout UK whilst constructing 6,000 new, present day prisons with intention of presenting security, safety, and rehabilition.
Key Target Audience
Multifamily Modular Construction Providers, Raw Material Suppliers, Government Regulations 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.