Modular Construction Market Valuation Prognosticated to Touch USD $196.2 Billion Market By 2026

A number of players are expanding their business around the globe, owing to the increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach.

According to the report, the global modular construction market garnered $114.6 billion in 2018, and is estimated to garner $196.2 billion by 2026, witnessing a CAGR of 7.1% from 2019 to 2026.

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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. It is a lucrative segment, owing to reduction in construction cost & time and versatility offered by transportation. However, North America register the second-highest CAGR of 7.0% 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. However, the re-locatable segment is expected to register the largest CAGR of 7.8% from 2019 to 2026.

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The manufacturers of modular construction are focusing on business expansion and new projects as a strategy to increase their modular construction market share. For instance, in October 2018, SG Blocks entered in strategic partnership with Harrison, Walker and Harper (HWH), engineering, contracting, and industrial services firm.

Key Findings of the Study:
• The report provides an extensive analysis of the current and emerging modular construction market trends and dynamics.
• The key market players within the modular construction market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the modular construction industry.
• In-depth modular construction market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
• The global modular construction market forecast analysis from 2018 to 2026 is included in the report.

Leading market 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

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