Modular Construction Market Size 2023, Key trends, Developments, Size, Share Growth to 2031

The Report Modular Construction Market study by "Transparency Market Research" provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.

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Companies Profile:
ALHO Systembau GmbH,Elements Europe,KLEUSBERG GmbH & Co. KG,Lindbäcks Bygg AB,Lowrie Modular Buildings,Paragon Space Ltd,Polcom Group,Robertson Group,Totally Modular Ltd,Vision Modular Systems

Building modules are manufactured in a particular location away from the construction site. These modules are subsequently delivered to the desired location or construction site for installation.
In a factory-controlled location, more than 60% of work can be completed, either as an entire structure or as modular subassemblies for a larger project.
Prefabricated houses along with other permanent modular structures are constructed to standards that are at least as high as those for conventionally site-built structures, ensuring high levels of quality control.
Concrete, steel, or wood materials are being used for permanent modular construction (PMC). It can also offer the provision for including windows or power supplies.

Growth in Construction Sector Augmenting Market Statistics
Globalization has led to an increase in number of residential buildings, industries, and commercial spaces. Rise in global population is a major factor responsible for growth of the construction industry. Increase in employment opportunities along with economic growth of several regions across the globe is also contributing to the demand for new construction projects.

Growth in the business environment generates the need for infrastructure development. Efficient, modern, and reliable infrastructure is important for smooth business operation. Infrastructure development activities are increasing consistently across the globe. Increase in development of accommodation centers, companies, commercial buildings & parks, educational institutes, and healthcare centers is creating growth opportunities for players operating in the modular construction industry.

Key Developments

Tempohousing, a leading organization in manufacturing real-estate structures, is developing innovative and scalable solutions for its end-users. The company primarily aims to improve the speed, cost, and social value of housing set to be built over the next five years. For instance, Tempohousing is increasingly investing in producing lightweight, non-flammable, and durable modules using special aerated concrete material.

KLEUSBERG GmbH & Co. KG is constantly developing sustainable building products that are also cost-efficient for customers. Additionally, the company is planning and designing prefabricated modules as per the customer's requirements.
Allied Modular Building Systems, Inc. featured its modular building products and services on the television show, Office Spaces, on Fox Business Channel, which features contemporary innovations in commercial property and design. Moreover, the company is dedicated to working with advanced technologies and has spent over US$ 1.0 Mn on Microsoft software. By combining Microsoft software with custom project management software, the company is able to track a product effectively from start to finish.

Market Segmentation:
By Type
• Permanent
• Relocatable

By Structure
• Walls
• Floors
• Frames
• Ceilings & Roofs
• Doors & Windows
• Others

By Material
• OSB
• Plasterboard

Regional Outlook of Global Modular Construction Industry
According to the latest modular construction market research analysis, North America is expected to dominate the global industry during the forecast period. Rise in population and increase in construction activities in the region are some of the key factors fueling modular construction market growth.
As per the Global Construction Report 2030, the construction industry output is anticipated to reach US$ 15.5 Trn by 2030.
The modular construction market size in Asia pacific is anticipated to increase during the forecast period, owing to growth in the construction industry in countries such as India and China.

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