Global Modular Construction Market: to achieve a market size of $127.10 Billion by 2028

The global Modular Construction market size is expected to reach $127.10 Billion by 2028 growing at the CAGR of 5.80% from 2021 to 2028.

There has been a surge of modular construction activities happening in several industries such as healthcare, education, hospitality, and others. This has resulted in the growth of this market. These constructions are cost-efficient and require less time for construction than traditional construction. This is also an important factor contributing to this market’s growth. Apart from these factors, the rising number of government initiatives related to infrastructure in metropolitan cities and rural areas has led to increasing demand for modular buildings, thus leading to the growth of this market.

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Key Players

Some of the major Modular Construction players holding high market share include Laing O’Rourke, Red Sea Housing, and Atco Ltd. These players use new product development and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Laing O’Rourke
● Red Sea Housing
● Atco Ltd.
● Skanska AB
● Algeco Scotsman
● Kleusberg GmbH
● Lendlease Corporation
● Katerra
● Fluor Corporation
● Bechtel Corporation

The recently published research report on Global Modular Construction Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Modular Construction market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Modular Construction market report also includes the following data points:
● COVID19 Impact on Modular Construction market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Modular Construction market

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Segmental Analysis

Market Segment By Offering with focus on market share, consumption trend, and growth rate of Modular Construction Market:
o Permanent
o Relocatable

Market Segment By Material with a focus on market share, consumption trend, and growth rate of Modular Construction Market:
o Steel
o Wood
o Concrete

Market Segment By Module with focus on market share, consumption trend, and growth rate of Modular Construction Market:
o Four-sided
o Open-sided
o Partially open-sided
o Mixed modules & floor cassettes
o Others

Market Segment By End Use with focus on market share, consumption trend, and growth rate of Modular Construction Market:
o Residential
o Office
o Education
o Hospitality
o Healthcare
o Others

For more information: https://evolvebi.com/product/modular-construction-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The Asia Pacific region’s construction market is growing at a rapid pace in terms of modular construction spending. This is linked to the rising number of environment-conscious communities like China’s Vertical Forest communities.
Further, there's an obvious preference to go green in this region when it comes down to investing in new homes or commercial establishments. Among several other properties, this represents an opportunity for large companies operating locally in the building industry to take advantage of this growing trend toward more sustainable solutions by investing heavily in cutting-edge technology available today so as to stay ahead of the competition down the road.

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This release was published on openPR.