Global Modular Construction Market

[Aarti Ghodke]

Global Modular Construction Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 4.49% through 2020 to 2026, reaching US$ XX Mn.

 

Global Modular Construction Market

 

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Global Modular Construction Market Overview:

 

Modular & prefab construction has adored a major movement over the last few years. MMR anticipates modular construction will continue to grow by 6.9 percent per year & hit $XX Bn by 2026, driven by growth in urbanization & industrialization in emerging countries. Numerous smaller builders have proven innovative, green building developments with this method, rising their market reflectivity & boosting customer trust.

 

Global Modular Construction Market1

 

Investment in the construction sector has been vigorously rising for several years. According to MMR Forecast, the growth is estimated to continue into 2021 & 2022. European construction development is broad-based & occurs in all main sectors: residential, non-residential & civil engineering. The construction market is at a major moment. However, this idea relates not only to the dynamic & continuous growth of the industry’s input but also to many problems which construction is currently facing.

 

The UK’s construction industry faces unstoppable decline unless longstanding issues are addressed. Some critical symptoms of failure, mainly the labor shortage, low probability in the sector, its lack of innovation & collaboration, & its non-existent R&D culture. These signs are common to many countries in the European Union & North America. High levels of cost inflation, driven by labour shortages, have produced many delays as costs have risen prohibitively.

 

This present situation pushes the construction industry into a modern method of building & has a direct impact on the improved demand for modular construction. There are several advantages of the modular construction method. However, in the majority of cases, one of the key reasons for using modular technology is to speed up the delivery time which compared to traditional on-site construction, can produce buildings in a much shorter time frame. The schedule reduction is the major incentive that this method of construction ensures. It is also one of the main claims that the industry has & the key motivation behind why permanent modular construction is used in the projects.

 

According to MMR report, 2019 was an excellent year for commercial modular construction. Many establishments reported double digit revenue growth for the year, fueled by robust construction activity in the education, health care & government markets. Moreover, the market was red-hot in certain geographic areas like the western Provinces of Canada & surrounding areas, while traditional markets such as California, Florida, Texas, & the Mid Atlantic US remained firm. However, the major trend was the improved interest & attraction of capital to the industry. Some companies entered into contracts with private equity firms while others acquired & merged with former players.

 

In April 2020 Goldman Sachs dropped a cool £75m into a UK modular housing manufacturer TopHat. Then Japanese house building hulk Sekisui House took a 35 percent stake in Manchester-based Urban Splash. Newly Places for Public established the purchase of 750 modular units from such as Homes, with financial backing from Homes England. New techniques of construction as a whole, according to the MMR, accounts for 15-20 percent of new-build homes, while modular itself probably accounts for less than 5 percent.

 

The report covers Bathroom Pods, Kitchenette, and Residential with detailed analysis Global Modular Construction Market industry with the classifications of the market on the Material, Module Type, Building Height & region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players' contribution in it.

 

The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced Plastic Type, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in five regions. The major countries’ policies about manufacturing & Covid 19 impact on demand side are covered in the report.

Scope of the Global Modular Construction Market: Inquire before buying

 

Global Modular Construction Market2

Global Modular Construction Market, by Region

 

• North America:

o US

o Canada

• Europe

o UK

o Germany

o France

o Spain

o Italy

o Sweden

o CIS countries

o Rest of Europe

• APAC

o China

o India

o South Korea

o Japan

o Australia

o Rest of APAC

o ASEAN

 Indonesia

 Malaysia

 Singapore

 Thailand

 Vietnam

• Middle East & Africa

o GCC Countries

o South Africa

o Rest of MEA

• Latin America

o Mexico

o Brazil

o Rest of Latin America

Global Modular Construction Market 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

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