Press release
Modular Construction Market Latest Amendments 2019-2026 By: ATCO, Anderco Pte. Ltd., Giant Containers Inc., Honomobo Corporation, Lendlease Corporation
The permanent segment to maintain its leadership status during the forecast period
Based on type, the permanent segment contributed to nearly two-thirds of the total share of the global modular construction market in 2018 and is estimated to maintain its leadership status during the forecast period. This is attributed to rise in customized and DIY construction activities.
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Drivers, restraints, and opportunities
High efficiency rise in construction activities, and increase in urbanization & industrialization in developing nations drive the growth of the global modular construction market. However, lack of reliability in earthquake-prone areas and scarcity of skilled labor in developing countries hinder the market growth.
Asia-Pacific to provide lucrative opportunities, North America to follow
Based on region, Asia-Pacific contributed to the highest market share in 2018, accounting for nearly half of the global modular construction market and is estimated to continue its lion's share during the forecast period. Moreover, the region is estimated to portray the highest CAGR of 7.9% from 2019 to 2026.
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The wood segment to maintain its dominance in terms of revenue by 2026
Based on material, the wood segment accounted for the highest share of the global modular construction market, holding for more than two-thirds of the total share in 2018, and is estimated to maintain its dominance in terms of revenue by 2026.
Top Leading Key Players
The key players profiled in the modular construction market report include ATCO, Anderco Pte. Ltd., Giant Containers Inc., Honomobo Corporation, Lendlease Corporation, SG Blocks, Inc., Skanska AB, Speed House Group of Companies, Supertech Industries LLC, and Tempohousing.
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