[PDF] Modular Construction Market: Industry Trend| ACS Group Inc. Skanska AB Komatsu Ltd.

The modular construction market refers to the process of constructing buildings or structures using pre-fabricated modules or components that are manufactured off-site and then assembled on-site. This method of construction is also known as off-site construction or prefabrication.
The modular construction market is expected to grow significantly in the coming years due to the increasing demand for affordable housing, the need for faster construction times, and the shortage of skilled labor in the construction industry. Technological advancements, such as the use of building information modeling (BIM) and virtual reality (VR), are also driving growth in the market.
The modular construction market is also seeing increased investment and collaboration from major players in the construction industry, as well as government initiatives to promote the use of modular construction in public infrastructure projects.
Modular Construction Market accounted for US$ 130.92 billion in 2020 and is estimated to be US$ 269.23 billion by 2030 and is anticipated to register a CAGR of 7.50%.

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Market Segmentation:-

Type of construction: The market can be segmented based on the type of construction, such as permanent modular construction (PMC) and relocatable buildings.

Material: The market can also be segmented based on the material used for the construction of the modules, such as steel, concrete, wood, and others.
Application: The market can be segmented based on the application, such as residential, commercial, healthcare, and others.

End-use industry: The market can also be segmented based on the end-use industry, such as construction, healthcare, education, and others.
Geography: The market can be segmented based on geography, such as North America, Europe, Asia-Pacific, and Rest of the World.

Key Players in the Modular Construction Market:

• ACS Group Inc.
• Skanska AB
• Komatsu Ltd.
• L&T Ltd., Kiewit Corporation
• Taisei Corporation
• Red Sea Housing Services Ltd.
• System House R & C Co. Ltd.
• Bouygues Construction
• KEF Infra Pvt Ltd

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Some key highlights of the modular construction market are:

• The demand for modular construction is driven by factors such as faster construction times, reduced labor costs, improved quality control, and reduced environmental impact.
• The market is segmented based on type of construction, material, application, end-use industry, and geography.
• The residential segment is expected to hold the largest share of the modular construction market, followed by the commercial segment.
• North America is expected to hold the largest share of the modular construction market, followed by Europe and Asia-Pacific.
• The market is highly competitive, with numerous players offering a wide range of modular construction products and services.
• The market is seeing increased investment and collaboration from major players in the construction industry, as well as government initiatives to promote the use of modular construction in public infrastructure projects.
• Some of the challenges faced by the modular construction industry include regulatory compliance, sustainability, and the need for standardized building codes and regulations.

Key Questions answered in Modular Construction Market

1. What are the current and future market trends in the modular construction industry?
2. What are the drivers, restraints, and challenges affecting the growth of the modular construction market?
3. Which end-use industries are driving the demand for modular construction, and what are their respective growth rates?
4. What are the future growth prospects and opportunities in the modular construction market?

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• FORMAT: (PDF)
• NO OF PAGES: 168
• BASE YEAR: 2022

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This release was published on openPR.