Modular Construction Market (By Type: Relocatable, Permanent; By Application: Residential, Commercial, Industrial, Healthcare, Educational) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Modular Construction market size is expected to be worth around US$ 148.9 billion by 2030, according to a new report by Vision Research Reports.

The global Modular Construction market size was valued at US$ 85.4 billion in 2020 and is anticipated to grow at a CAGR of 7.4% during forecast period 2021 to 2030.

Report Coverage

Growth Factors

Increasing emphasis on improving productivity and rising focus on workplace safety at construction sites are expected to drive the market over the forecast period.

The process involves the prefabrication of modules at a different location from the actual site in a controlled environment, resulting in reduced timelines for completing building projects. This process allows planned inventory usage and limited wastage of raw materials, thereby, significantly reducing the investment required for building work. Assembly lines for modular construction help producers streamline raw material purchasing and inventory management.

Modular constructions are monitored regularly, ensuring a better quality of final products. Furthermore, they can be easily replaced or recycled during renovation activities, thus making them more user-friendly. The permanent modular construction segment dominated the industry in Sweden and accounted for 69.20% of the overall market share in 2020 owing to increased demand for residential wooden housing structures in the region.

By Product Analysis

The permanent modular construction segment led the market and accounted for the largest revenue share of 64.8% in 2020 due to increased efficiency as compared to traditional building methods over the past decade. 

The increasing financial outlay for the development of affordable housing structures coupled with the rapid growth of the industrial sector in developing economies is expected to augment the market growth. In addition, a reduction in wastage in modular construction is also expected to drive industry growth.

Relocatable modular structures are utilized to provide temporary accommodations for laborers at worksites. Relocatable modular structures are also utilized by a variety of end-users including local governments, industrial corporations, school boards, and healthcare providers as makeshift offices, healthcare clinics, temporary hotels, and schools.

The Middle East and Africa are expected to generate a huge demand for relocatable modular construction over the forecast period. 

By Application Analysis

The residential application segment led the market and accounted for the largest revenue share of 52.8% in 2020. This can be attributed to an increase in residential housing construction activities in the Asia Pacific with a burgeoning population, rapid urbanization.

The commercial application segment was valued at USD 83.8 billion in 2020 and is expected to witness a CAGR of 4.2% over the projected period. Recovering economic situations in key markets such as the U.K., the U.S.

The growing e-commerce industry coupled with rising industrialization has resulted in an increased demand for warehouses and inventory storage buildings.

By Regional Analysis

Europe dominated the modular construction market and accounted for the largest revenue share of 45.7% in 2020. This was due to the growing efforts of the governments in the region to adopt modular construction. 

The commercial construction industry in Canada is supported by the growing demand for commercial spaces such as hotels, offices, and retail showrooms.

The U.K. government aims to establish 300,000 residential houses annually over the next five years, which is expected to augment the residential construction sector in the country.

The market for modular construction in India is expected to progress at a CAGR of 5.7% over the forecast period. The government of India’s ambitious scheme to provide permanent housing for all by 2022 is expected to provide a major boost to the market growth over the coming years.

Key Players

• Laing O'Rourke

• Katerra

• Skanska AB

• Red Sea Housing

• DuBox

• Sekisui House Ltd

• KLEUSBERG GmbH & Co KG

Market Segmentation

• By Type 

  • Relocatable

  • Permanent

•  By Application 

  • Residential

  • Commercial

  • Industrial

  • Healthcare

  • Educational

• Regional 

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • Sweden

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • Singapore

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

    • UAE

The Modular Construction market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Modular Construction market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Modular Construction market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Modular Construction market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Modular Construction market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Modular Construction capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Modular Construction by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Modular Construction market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Modular Construction market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Modular Construction market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Modular Construction industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Modular Construction market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Modular Construction market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Modular Construction market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Modular Construction market. These factors have benefited the growth of the global market for Modular Construction. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Modular Construction. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Modular Construction are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.