Modular Construction Market Trends, Top Players Updates, Future Plans 2029
Modular Construction Market size was valued at US$ 75.89 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 6.1% through 2022 to 2029, reaching nearly US$ 121.88 Bn.
Market Overview
The Modular Construction industry research provided a comprehensive analysis of the worldwide Modular Construction Market, taking into account all critical variables such as growth factors, limitations, market advancements, top investment pockets, future prospects, and trends. The research begins by emphasizing the important trends and possibilities that may develop in the near future and have a favorable influence on overall industry growth.
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Market Scope
The Modular Construction Market report includes a comprehensive analysis of major players in the market, application, and geographic conditions to help identify key competitors both locally and globally. The report also covers the investment options available in the micro market to investors, along with a comprehensive analysis of the competitive landscape and key products the companies offer.
Modular Construction Market report provides in-depth knowledge and understanding of trends, dynamics, restraints, and opportunities. Research identifies the most important trends that will impact business operations. It helps to identify the information included in the research that determines the competitive landscape of key companies, the factors affecting the market size and volume, and other aspects that can help to determine the current marketing plan. SWOT analysis was done to find the strengths and weaknesses of the market.
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Segmentation
Based on type, the market is classified into permanent and relocatable. The permanent modular construction segment is expected to hold the largest market share of xx% by 2029. Permanent Modular Construction (PMC) is a sustainable and creative architectural approach that uses offshore and lean manufacturing techniques to prefabricate single-storey or multi-storey structures with modular components. PMCs can be molded for integration into existing structures. For example, PMC was used by a Hawaii movie studio to meet tight deadline and budget constraints. Examples of permanent modular structures include medical facilities, hotels, schools and restaurants.
Based on material, the market is segmented into steel, wood, and concrete. The steel segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. In terms of material consumption, steel has the highest share of the global modular building market. Known for its strength-to-weight ratio. Relocatable steel buildings have many advantages over relocatable wooden buildings. These properties include design flexibility, strength, structural integrity, durability, safety and fire resistance, all of which reduce the need for repairs and maintenance over the life of the structure. will be
Based on end-use sector, the market is segmented into residential, office, education, retail and commercial, hospitality, healthcare, and others. Healthcare segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Many medical institutions and hospital contractors use modular construction in bathrooms, end walls and even entire hospitals. Medical, surgical, clinical and dental applications benefit from a quiet, safe and clean modular design. In this industry, the top priority is to shorten the construction period and reduce costs, but high-quality building materials and designs are required. These are the major drivers projected to propel the growth of this segment in the global modular building market during the forecast period 2022-2029.
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Key Players
• ATCO
• Anderco Pte. Ltd.
• Giant Containers Inc.
• Honomobo Corporation
• Lendlease Corporation
• SG Blocks, Inc.
• Skanska AB
• Speed House Group of Companies
• Supertech Industries LLC
• Tempohousing.
• Laing O’Rourke
• Red Sea Housing
• Atco Ltd.
• Algeco Scotsman
• Kleusberg GmbH
• Katerra
• Bechtel Corporation
• Fluor Corporation
Regional Analysis
Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America are the regions that make up the Modular Construction market growth. Every region has different factors such as political, geographic, economic, etc. which are affecting the Modular Construction market. Local and regional development plans are often affected by the performance of the Modular Construction market. The reports help in planning the market strategies which are suitable and appropriately applicable according to specific countries and regions in the market.
Key Questions answered in the Modular Construction Market Report are:
What is Modular Construction Market?
What is the forecast period of the Modular Construction Market?
What is the competitive scenario of the Modular Construction market?
Which region held the largest market share in the Modular Construction Market?
What are the opportunities for the Modular Construction Market?
What factors are affecting the Modular Construction market growth?
Who are the key players of the Modular Construction market?
Which company held the largest share in the Modular Construction market?
What will be the CAGR of the Modular Construction market during the forecast period?
What key trends are likely to emerge in the Modular Construction market in the coming years?
Key offerings:
Market Share, Size, and Forecast by Revenue|2022-2029
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation: A detailed analysis by Modular Construction
Landscape- Leading key players and other prominent key players.
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