Modular Construction Market Overview

The report is titled as ‘Modular Construction Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the modular construction market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The modular construction market is expected to grow at a significant rate in the near future.

The modular construction market is expected to reach US$ 123.4 Bn by 2028 from US$ 79.5 Bn in 2020, at a CAGR of 5.7% during the forecast period of 2020 to 2028.

Modular Construction Market Definition

The worldwide construction industry goes through several different types of affairs and challenges, including lower productivity, labor inadequacy, and environmental damage. Although these days the idea of modular construction has gained immense popularity and attention as a powerful approach for outpacing these issues owing to its inbuilt benefits, such as enhanced productivity, shortened project timespan, superior quality, and improved occupational protection.

Modular construction, basically, can be perceived as a process in which a structure or any premise is constructed off-site, under regulated plant conditions, using the exact same materials and designing to the similar standards and codes as traditionally built facilities – although in about half as much time.

Notably, in the concept of modular constructions, buildings are developed in “modules” that when assembled together on site, ponder the exact same design objective and stipulations of the most elegant and urbane site-built facility – without any settlements. It has been assessed that modular construction comprises the potency to cut down and curtail the time used up in project design and engineering, as well as it diminishes the costs and enhances construction productivity. At long last, it concludes that the establishment of modular buildings is eco-friendly, cost-efficient, and safe.

Modular Construction Market Dynamics

The rapid pace of soaring population, worldwide, is also accompanying exacerbated housing problems across the world. Majority of the metropolitan areas and cities, globally, are going through issues like slums, urban sprawl and spontaneous development and at present, not in a comfortable living environment. In order to meet the needs of the invariably increasing population across the globe, there is a requirement to build more and more residential and comfortable living environments. Such factors are playing one of the major roles in stimulating the demand of modular construction in the global markets, thereby driving the growth of the global modular construction market substantially.

In addition to that, the heavy environment impact from the traditional construction approach has further positively fueled the demand of modular construction around the globe. As per the new research by construction blog Bimhow, the global construction sector adds up to 50% of the climatic change, 23% of air pollution, 50% of landfill wastes, and 40% of drinking water pollution. Attributing to which, the fresh idea of modular construction is gaining immense traction in the global markets, thus projected to accelerate the growth of the global modular construction market over the forthcoming future.

Moreover, the rising government initiatives regarding adoption of modular construction approach due to the rising need of housing facilities as well as growing environmental concerns is also playing a positive role in boosting the growth of the global modular construction market in the near future.

Other than that, the novel idea of modular construction is much faster than the traditional approach given that it appears simultaneously with site work, enabling the projects to be completed in around half of the time.

On top of that, other benefits related with modular construction involve higher flexibility and reusability, reduced material waste, enhanced air quality, decreased construction schedule, safer construction, numerous design opportunities, together with strengthened engineered building. Owing to which, the global modular construction market is estimated to grow significantly in the coming years.

Modular Construction Market Segmentation

The global modular construction is segmented on the basis of type, material, module, end-use sector and regions. On the basis of type, the modular construction market is segmented into permanent and relocatable. On the basis of material, the market is categorized into steel, wood, and concrete. Further, the market is segmented on the basis of modules into four-sided, open-sided, partially open-sided, mixed modules & floor cassettes, modules supported by a primary structure, and others. On the basis of the end-use sector, the market is bifurcated into residential, office, education, retail & commercial, hospitality, healthcare, and others.

By Type

Permanent

Relocatable

By Material

Steel

Wood

Concrete

By Module

Four-sided

Open-sided

Partially open-sided

Mixed modules & floor cassettes

Modules supported by a primary structure

Others

By End-Use Sector

Residential

Office

Education

Retail & Commercial

Hospitality

Healthcare

Others

By Region

North America

Latin America

Africa

Europe

Asia Pacific

Middle East

Modular Construction Market Key Players

The global modular construction market is dominated by Laing O’Rourke, Red Sea Housing, Atco Ltd., Skanska AB, Kleusberg GmbH, Atco Ltd, Algeco Scotsman, Katerra, Lendlease Corporation, Bechtel Corporation, Fluor Corporation, among others.

MMC Overview on Modular Construction Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the modular construction market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of modular construction

Advantages of modular construction

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.

1.    Global Modular Construction Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Modular Construction Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Modular Construction Market Snapshot

2.4.    Global Modular Construction Market Size And Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Modular Construction Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Porter’s Five Forces Model

2.7.    SWOT Analysis

3.    Modular Construction Assessment and Analysis

3.1.    Modular Construction Impact Analysis 

3.2.    Actions to encourage use of Modular Construction

3.3.    Modular Construction Promotional Strategy Recommendation

3.4.    Road Map Analysis

3.5.    GAP Analysis

3.6.    Potential Analysis

4.    Covid-19 Impact on Modular Construction Market

5.    Global Modular Construction Market, By Type

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Type

5.1.2.    BPS Analysis, By Type

5.2.    Market Revenue (US$Mn) and Forecast, By Type

5.2.1.    Permanent

5.2.2.    Relocatable

5.3.    Global Modular Construction Market Attractiveness Index, By Type

6.    Global Modular Construction Market, By Material

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Material

6.1.2.    BPS Analysis, By Material

6.2.    Market Revenue (US$Mn) and Forecast, By Material

6.2.1.    Steel

6.2.2.    Wood

6.2.3.    Concrete

6.3.    Global Modular Construction Market Attractiveness Index, By Material

7.    Global Modular Construction Market, By Module

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Module

7.1.2.    BPS Analysis, By Module

7.2.    Market Revenue (US$Mn) and Forecast, By Module

7.2.1.    Four-sided

7.2.2.    Open-sided

7.2.3.    Partially open-sided

7.2.4.    Mixed modules & floor cassettes

7.2.5.    Modules supported by a primary structure

7.2.6.    Others 

7.3.    Global Modular Construction Market Attractiveness Index, By Module

8.    Global Modular Construction Market, By End-Use Sector

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By End-Use Sector

8.1.2.    BPS Analysis, By End-Use Sector

8.2.    Market Revenue (US$Mn) and Forecast, By End-Use Sector

8.2.1.    Residential

8.2.2.    Office

8.2.3.    Education

8.2.4.    Retail & Commercial

8.2.5.    Hospitality

8.2.6.    Healthcare

8.2.7.    Others 

8.3.     Global Modular Construction Market Attractiveness Index, By End-Use Sector

9.    Global Modular Construction Market, By Region

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Region

9.1.2.    BPS Analysis, By Region

9.2.    Market Revenue (US$Mn) and Forecast, By Region

9.2.1.    North America

9.2.2.    Latin America

9.2.3.    Europe

9.2.4.    Asia Pacific

9.2.5.    Middle East 

9.2.6.    Africa

9.3.    Global Modular Construction Market Attractiveness Index, By Region

10.    North America Modular Construction Market Analysis and Forecast, 2020–2028

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market Revenue (US$Mn) and Forecast, By Country

10.2.1.    U.S. Modular Construction Market

10.2.2.    Canada Modular Construction Market

10.3.    North America Modular Construction Market, By Type

10.3.1.    Permanent

10.3.2.    Relocatable

10.4.    North America Modular Construction Market Revenue (US$Mn) and Forecast, By Material

10.4.1.    Steel

10.4.2.    Wood

10.4.3.    Concrete

10.5.    North America Modular Construction Market Revenue (US$Mn) and Forecast, By Module

10.5.1.    Four-sided

10.5.2.    Open-sided

10.5.3.    Partially open-sided

10.5.4.    Mixed modules & floor cassettes

10.5.5.    Modules supported by a primary structure

10.5.6.    Others 

10.6.    North America Modular Construction Market Revenue (US$Mn) and Forecast, By End-Use Sector

10.6.1.    Residential

10.6.2.    Office

10.6.3.    Education

10.6.4.    Retail & Commercial

10.6.5.    Hospitality

10.6.6.    Healthcare

10.6.7.    Others 

10.7.    North America Modular Construction Market Attractiveness Index

10.7.1.    By Country

10.7.2.    By Type

10.7.3.    By Material

10.7.4.    By Module

10.7.5.    By End-Use Sector

11.    Latin America Modular Construction Market Analysis and Forecast, 2020–2028

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) Forecast, By Country

11.2.1.    Brazil Modular Construction Market

11.2.2.    Mexico Modular Construction Market

11.2.3.    Rest Of Latin America Modular Construction Market

11.3.    Latin America Modular Construction Market, By Type

11.3.1.    Permanent

11.3.2.    Relocatable

11.4.    Latin America Modular Construction Market Revenue (US$Mn) and Forecast, By Material

11.4.1.    Steel

11.4.2.    Wood

11.4.3.    Concrete

11.5.    Latin America Modular Construction Market Revenue (US$Mn) and Forecast, By Module

11.5.1.    Four-sided

11.5.2.    Open-sided

11.5.3.    Partially open-sided

11.5.4.    Mixed modules & floor cassettes

11.5.5.    Modules supported by a primary structure

11.5.6.    Others 

11.6.    Latin America Modular Construction Market Revenue (US$Mn) and Forecast, By End-Use Sector

11.6.1.    Residential

11.6.2.    Office

11.6.3.    Education

11.6.4.    Retail & Commercial

11.6.5.    Hospitality

11.6.6.    Healthcare

11.6.7.    Others 

11.7.    Latin America Modular Construction Market Attractiveness Index

11.7.1.    By Country

11.7.2.    By Type

11.7.3.    By Material

11.7.4.    By Module

11.7.5.    By End-Use Sector

12.    Europe Modular Construction Market Analysis and Forecast, 2020–2028

12.1.    Introduction

12.1.1.    Annual Growth Rate Comparison, By Country

12.1.2.    BPS Analysis, By Country

12.2.    Market (US$Mn) Forecast, By Country

12.2.1.    U.K. Modular Construction Market

12.2.2.    Germany Modular Construction Market

12.2.3.    Italy Modular Construction Market

12.2.4.    France Modular Construction Market

12.2.5.    Spain Modular Construction Market

12.2.6.    Russia Modular Construction Market

12.2.7.    Rest Of Europe Modular Construction Market

12.3.    Europe Modular Construction Market, By Type

12.3.1.    Permanent

12.3.2.    Relocatable

12.4.    Europe Modular Construction Market Revenue (US$Mn) and Forecast, By Material

12.4.1.    Steel

12.4.2.    Wood

12.4.3.    Concrete

12.5.    Europe Modular Construction Market Revenue (US$Mn) and Forecast, By Module

12.5.1.    Four-sided

12.5.2.    Open-sided

12.5.3.    Partially open-sided

12.5.4.    Mixed modules & floor cassettes

12.5.5.    Modules supported by a primary structure

12.5.6.    Others 

12.6.    Europe Modular Construction Market Revenue (US$Mn) and Forecast, By End-Use Sector

12.6.1.    Residential

12.6.2.    Office

12.6.3.    Education

12.6.4.    Retail & Commercial

12.6.5.    Hospitality

12.6.6.    Healthcare

12.6.7.    Others 

12.7.    Europe Modular Construction Market Attractiveness Index

12.7.1.    By Country

12.7.2.    By Type

12.7.3.    By Material

12.7.4.    By Module

12.7.5.    By End-Use Sector

13.    Asia Pacific Modular Construction Market Analysis and Forecast, 2020–2028

13.1.    Introduction

13.1.1.    Annual Growth Rate Comparison, By Country

13.1.2.    BPS Analysis, By Country

13.2.    Market (US$Mn) Forecast, By Country

13.2.1.    China Modular Construction Market

13.2.2.    India Modular Construction Market

13.2.3.    Japan Modular Construction Market

13.2.4.    Australia and New Zealand Modular Construction Market

13.2.5.    South Korea Modular Construction Market

13.2.6.    Rest of Asia Pacific Modular Construction Market

13.3.    Asia Pacific Modular Construction Market, By Type

13.3.1.    Permanent

13.3.2.    Relocatable

13.4.    Asia Pacific Modular Construction Market Revenue (US$Mn) and Forecast, By Material

13.4.1.    Steel

13.4.2.    Wood

13.4.3.    Concrete

13.5.    Asia Pacific Modular Construction Market Revenue (US$Mn) and Forecast, By Module

13.5.1.    Four-sided

13.5.2.    Open-sided

13.5.3.    Partially open-sided

13.5.4.    Mixed modules & floor cassettes

13.5.5.    Modules supported by a primary structure

13.5.6.    Others 

13.6.    Asia Pacific Modular Construction Market Revenue (US$Mn) and Forecast, By End-Use Sector

13.6.1.    Residential

13.6.2.    Office

13.6.3.    Education

13.6.4.    Retail & Commercial

13.6.5.    Hospitality

13.6.6.    Healthcare

13.6.7.    Others 

13.7.    Asia Pacific Modular Construction Market Attractiveness Index

13.7.1.    By Country

13.7.2.    By Type

13.7.3.    By Material

13.7.4.    By Module

13.7.5.    By End-Use Sector

14.    Middle East Modular Construction Market Analysis and Forecast, 2020–2028

14.1.    Introduction

14.1.1.    Annual Growth Rate Comparison, By Country

14.1.2.    BPS Analysis, By Country

14.2.    Market (US$Mn) Forecast, By Country

14.2.1.    GCC Countries Modular Construction Market

14.2.2.    Israel Modular Construction Market

14.2.3.    Rest Of Middle East Modular Construction Market

14.3.    Middle East Modular Construction Market, By Type

14.3.1.    Permanent

14.3.2.    Relocatable

14.4.    Middle East Modular Construction Market Revenue (US$Mn) and Forecast, By Material

14.4.1.    Steel

14.4.2.    Wood

14.4.3.    Concrete

14.5.    Middle East Modular Construction Market Revenue (US$Mn) and Forecast, By Module

14.5.1.    Four-sided

14.5.2.    Open-sided

14.5.3.    Partially open-sided

14.5.4.    Mixed modules & floor cassettes

14.5.5.    Modules supported by a primary structure

14.5.6.    Others 

14.6.    Middle East Modular Construction Market Revenue (US$Mn) and Forecast, By End-Use Sector

14.6.1.    Residential

14.6.2.    Office

14.6.3.    Education

14.6.4.    Retail & Commercial

14.6.5.    Hospitality

14.6.6.    Healthcare

14.6.7.    Others 

14.7.    Middle East Modular Construction Market Attractiveness Index

14.7.1.    By Country

14.7.2.    By Type

14.7.3.    By Material

14.7.4.    By Module

14.7.5.    By End-Use Sector

15.    Africa Modular Construction Market Analysis and Forecast, 2020–2028

15.1.    Introduction

15.1.1.    Annual Growth Rate Comparison, By Country

15.1.2.    BPS Analysis, By Country

15.2.    Market (US$Mn) Forecast, By Country

15.2.1.    South Africa Countries Modular Construction Market

15.2.2.    Egypt Modular Construction Market

15.2.3.    North Africa Modular Construction Market

15.2.4.    Rest of Africa Modular Construction Market

15.3.    Africa Modular Construction Market, By Type

15.3.1.    Permanent

15.3.2.    Relocatable

15.4.    Africa Modular Construction Market Revenue (US$Mn) and Forecast, By Material

15.4.1.    Steel

15.4.2.    Wood

15.4.3.    Concrete

15.5.    Africa Modular Construction Market Revenue (US$Mn) and Forecast, By Module

15.5.1.    Four-sided

15.5.2.    Open-sided

15.5.3.    Partially open-sided

15.5.4.    Mixed modules & floor cassettes

15.5.5.    Modules supported by a primary structure

15.5.6.    Others 

15.6.    Africa Modular Construction Market Revenue (US$Mn) and Forecast, By End-Use Sector

15.6.1.    Residential

15.6.2.    Office

15.6.3.    Education

15.6.4.    Retail & Commercial

15.6.5.    Hospitality

15.6.6.    Healthcare

15.6.7.    Others 

15.7.    Africa Modular Construction Market Attractiveness Index

15.7.1.    By Country

15.7.2.    By Type

15.7.3.    By Material

15.7.4.    By Module

15.7.5.    By End-Use Sector

16.    Competitive Landscape

16.1.    Company Profiles

16.1.1.    Laing O’Rourke

16.1.1.1.    Company Overview

16.1.1.2.    Financial Overview

16.1.1.3.    Key Developments

16.1.1.4.    Strategies

16.1.1.5.    Product Analysis

16.1.2.    Red Sea Housing

16.1.3.    Atco Ltd.

16.1.4.    Skanska AB

16.1.5.    Kleusberg GmbH

16.1.6.    Algeco Scotsman

16.1.7.    Katerra

16.1.8.    Lendlease Corporation

16.1.9.    Bechtel Corporation

16.1.10.    Fluor Corporation

17.    Acronyms