Modular Construction Market to Jump at 6.9% CAGR and to Touch US$ 157.19 Billion by 2023, Led by Precast Concrete, Steel Wood and Plastic

Report aims at estimating modular construction market size and growth potential of the modular construction market across different segments on the basis of type, material, module, end-use sector, and region. It also provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).

The modular construction market was valued at USD 106.15 billion in 2017 and is projected to reach USD 157.19 billion by 2023, at a CAGR of 6.9% during the forecast period. The base year considered for the study is 2017 and the forecast period is 2018-2023. It strategically profiles key players and comprehensively analyzes their core competencies. Download Study Papers now at http://www.rnrmarketresearch.com/contacts/request-sample?rname=1611703 .

The research methodology used to estimate and forecast the size of the modular construction market started with capturing data on percentage contribution of modular construction in overall construction sector, market size of each type of modular construction through secondary research from sources such as companies’ websites, articles on modular construction, and association reports.

Relocatable modular construction led the modular construction market in 2017, in terms of volume; this segment is projected to retain its leading position through 2023. These buildings offer ease of relocation, accelerated depreciation schedules, fast delivery, low-cost reconfiguration, and enormous flexibility.

Target Audience
• Raw Material Suppliers
• Module Manufacturers
• Modular Construction Service Providers
• End Users
• Associations and Industry Bodies
• Government & Regulatory Bodies

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The market for modular construction is led by major players such as Laing O’Rourke (UK), Red Sea Housing (Saudi Arabia), ATCO (Canada), Bouygues Construction (France), VINCI (France), Skanska AB (Sweden), Algeco Scotsman (US), KLEUSBERG GmbH & Co. KG (Germany), KEF Katerra (India), and Lendlease Corporation (Australia).

The key players profiled in the report are as follows:
• Laing O’Rourke (UK)
• Red Sea Housing (Saudi Arabia)
• ATCO (Canada)
• Bouygues Construction (France)
• VINCI (France)
• Skanska AB (Sweden)
• Algeco Scotsman (US)
• KLEUSBERG GmbH & Co. KG (Germany)
• KEF Katerra (India)
• Lendlease Corporation (Australia)

The primary objective of this study is to define, forecast, and segment the modular construction market by type, material, end-use sector, and region. The study also aims at strategically analyzing micro markets with respect to individual growth trends, prospects, and their contribution to the total market.

Discount and More Information “Modular Construction Market by Type (Permanent, Relocatable), Material (Precast concrete, Steel Wood, Plastic, Others), End-use sector (Housing, Commercial, Education, Healthcare, Industrial), and Region - Global Forecast to 2023” report at www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=1611703 .

Asia Pacific dominated the modular construction market in 2017, in terms of value. China contributes a major share to the Asia Pacific modular construction market. Increasing urbanization, increasing demand for buildings at affordable costs, and favorable policies and plans are driving the demand for modular construction in the region. Chinese prefabrication manufacturers are further collaborating with global manufacturers to solve their crisis for houses.

The report will help market leaders/new entrants in this market in the following ways:
• This report segments the modular construction market and provides the closest approximations of revenue numbers for the overall market and its sub segments across different regions.
• The report helps stakeholders understand the market and provides them with information about the key market drivers, restraints, opportunities, and challenges.
• This report will help stakeholders better understand their competitors and gain insights to improve their position in the market. The competitive landscape section includes the ranking of the top five players in the modular construction market.

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This release was published on openPR.