Analyzing the Modular Construction Market: Key Trends and Projections 2030

In response to the escalating environmental concerns and the growing focus on green practices, the modular construction market has witnessed a significant surge in global adoption. Modular construction’s emphasis on sustainable practices has positioned it as a preferred choice, enabling optimized material usage and waste reduction. The offsite construction approach allows for the reusability and recyclability of modular units, making it a highly sought-after solution for environmentally conscious entities. Furthermore, the energy efficiency, reduced site disturbance, and enhanced construction quality have fueled the worldwide acceptance of modular construction, leading to a transformative impact on the building and infrastructure industry.

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Modular Construction Market Benefits from Shift Towards Offsite Style

The construction sector has faced challenges related to productivity and innovation for several years. However, modular construction provides an opportunity to break free from conventional methods and embrace an offsite construction style. Technological advancements, shifting mindsets, and economic demands have sparked significant investments and interest in modular construction, disrupting the real estate space.

Modular construction offers multiple advantages, including faster construction timelines, cost reductions, structural stability, efficient designs, waste minimization, and decreased labor requirements. Given the construction industry’s substantial economic contribution, a shift towards modular construction can lead to significant improvements in overall economic productivity, steering the industry towards sustainability and efficiency.

Commercial Sector Adopts Modular Construction for Sustainable Growth

The commercial sector has witnessed a rapid uptake of modular construction across the globe. Companies are increasingly turning to modular construction services to meet the demand for sustainable and eco-friendly buildings while addressing housing and labor shortages and reducing costs. The surge in industrialization and urbanization has created numerous opportunities for the development of commercial spaces, such as hotels, showrooms, malls, theaters, offices, and business centers, further driving the demand for modular construction solutions.

Asia Pacific Emerges as a Key Driver of Modular Construction Market Growth

The Asia Pacific region, particularly countries like India and China, holds immense potential for substantial growth in modular construction adoption. Developing nations in the region have demonstrated a keen interest in modular construction, spurred by ongoing infrastructure developments and proactive government initiatives. Moreover, rising household incomes and population migration from rural to urban areas, driven by improved living standards, present abundant opportunities for modular construction market players.

China, in particular, has experienced a surge in infrastructural activities, with approval for 26 new projects valued at around US$ 142 billion in 2019. These projects are set to be completed by the end of 2023, providing a significant boost to the modular construction market. Similarly, India’s thriving construction sector positions the country as a major player in the modular construction landscape in the coming years.

Competitive Landscape of the Modular Construction Market

The modular construction market is witnessing intense competition, with key players adopting various strategies such as acquisitions, collaborations, partnerships, and alliances to expand their market presence and offer diversified solutions.

Leading players in the modular construction market include Katerra, Taisei Corporation, Skanska AB, Balfour Beatty, Bouygues Construction, Laing O’Rourke, Sekisui House Ltd., Red Sea Housing, Kleusberg GmbH & Co. Kg., and DuBox.

As the construction industry pivots towards sustainability and efficiency, modular construction emerges as a transformative force, offering eco-friendly solutions aligned with global environmental goals.

The study on the Global Modular Construction Market includes the following key elements:

1. Modular Construction Market by Product/Technology/Grade, Application/End-user, and Region: This section categorizes the market based on different product types, technologies, grades, applications, end-users, and regions to provide a comprehensive understanding of the market landscape.
2. Executive Summary (Opportunity Analysis and Key Trends): The executive summary highlights the key opportunities and significant trends observed in the modular construction market, offering a concise overview of the report’s key findings.
3. Historical Market Size and Estimates, Value, 2019 – 2022: This section presents the historical market size data and estimates from the years 2019 to 2022, providing insights into the past performance of the modular construction market.
4. Market Value at Regional and Country Level, 2023 – 2030: The study projects the market value for the modular construction market at both regional and country levels from the year 2023 to 2030, helping to understand the market’s future growth potential.
5. Market Dynamics and Economic Overview: This segment analyzes the market dynamics, including drivers, restraints, challenges, and opportunities influencing the modular construction market. It also includes an economic overview to understand the market’s macroeconomic factors.
6. Market Size in Value, Growth Rates, and Forecast Figures, 2023 – 2030: This part presents the market size in terms of value, growth rates, and forecast figures for the modular construction market during the forecast period of 2023 to 2030.
7. Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies: The study provides competitive intelligence by analyzing the financial performance, key developments, and portfolios of the leading companies in the modular construction market.
8. Regional and Product/Grade/Application/End-user Price Trends Analysis: This section evaluates the price trends of modular construction products, grades, applications, and end-users across different regions to understand pricing dynamics.
9. Value Chain and Five Force’s Analysis: The value chain and Five Force’s analysis offer insights into the key stages of the modular construction industry’s value chain and help assess the industry’s competitive forces.
10. Regional/Sub-region/Country Market Size and Trend Analysis: This segment presents a detailed analysis of the market size and trends in specific regions, sub-regions, and countries, providing a localized understanding of the market.
11. Company Market Share Analysis and Key Player Profiles: This part focuses on analyzing the market share of companies operating in the modular construction market and provides profiles of key players, outlining their strengths and strategies.