About Modular Homes
The global modular construction market will be expected USD 83.2 billion industry in FY 2020. According to the commercial real estate industry experts, the demand for modular construction increased in various industries but majorly in the healthcare, industrial, education, and multifamily sector. In FY 2019, the United States modular construction market was reached around USD 8 billion. The modular construction is highly adopted for the exterior walls, building superstructures & fulfilling mechanicals, and electrical & plumbing requirements. In the Northeast area in the United States around 70% are construction are using modular techniques, and in the South on 24% are using modular components. As the United States construction industry is considered one of the largest construction industries across the globe, the United States construction industry was reached USD 1.35 trillion. The major growth is developed by residential buildings and others.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.8% |
There are various companies that are operating in this market to explore in geographic regions by adopting various market growth strategies including mergers & acquisitions, expansions, investments, new product launches to enhance their product portfolio. With the development in this industry, there are various new market players are entered into the market. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Modular Homes 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 (Sweden), Komatsu Limited (Japan), Kiewit Corporation (United States), Larsen & Toubro (India), Taisei Corporation (Japan), Balfour Beatty PLC (United Kingdom), ACS Group (United States), Red Sea Housing (Saudi Arabia) and ATCO (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Algeco Group (England), KLEUSBERG GmbH & Co. KG (Germany) and Katerra (United States).
Segmentation Overview
AMA Research has segmented the market of Global Modular Homes market by Type (Ranch, Cape Cod, Two-Story Homes and Cabin/Chalet) and Region.
On the basis of geography, the market of Modular Homes 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 Material, the sub-segment i.e. Precast Concrete will boost the Modular Homes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Modular, the sub-segment i.e. Permanent will boost the Modular Homes 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 Homes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption 3D Technology
Market Growth Drivers:
Development in Construction Industry and High Growth in Residential Areas in Developed Region
Challenges:
Lack of Awareness Among Developing Economies
Restraints:
The Slowdown in Economy Because of Coronavirus Pandemic
Opportunities:
Rapid Growth in Population & Industrialization Across the Globe Majorly in Asia Pacific Regions
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 March 2020, Express Modular announced its rebranding, this step is a part of the strategic and explosive growth of the company. Through this, the company reflects the leadership in the modular construction industry and continues to follow a unique internal system.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Modular Homes Providers, Government Regulatory and Research Organizations and End-Use Industries
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.