The Asia-Pacific modular construction market is expected to witness CAGR of 7.0% from 2022 to 2030 in the forecast period of 2022 to 2029 and is further estimated to reach USD 34,729,342.04 million by 2030 Size, Share, Trends, Key Drivers

The Asia-Pacific modular construction market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.0% in the forecast period of 2023 to 2030 and is expected to reach USD 34,729,342.04 million by 2030.

Market Overview

Modular construction is a process in which a building is constructed off-site. The building is constructed under controlled plant conditions using the same design and materials to the same codes and standards as usually built facilities but in around half the time. Buildings are manufactured in "modules" that, when put together on site, and specifications of the most sophisticated site-built facility reflect identical design intent without compromise.

The factory-controlled process generates less waste, creates fewer site disturbances, and allows for tighter construction. Moreover, the construction of modular buildings occurs simultaneously with site work, allowing projects to be completed in half the time of traditional construction. Modular buildings are built with the same materials and to the same building codes and architectural specifications as traditional construction. Once assembled, they are virtually indistinguishable from their site-built counterparts.

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Asia-Pacific Modular Construction Market Dynamics

Drivers

• Ease of disassembling, refurbishment, and relocation of modular constructions

Modular construction is a process that involves constructing prefabricated buildings in off-site factories and transporting them to a worksite for installation. With modular construction, there is an opportunity to include a "plug and play" flexibility that allows molecular buildings to be easily modified for different purposes. Ease of disassembling helps to deconstruct into parts and can be reconstructed or redistributed to incorporate into various other projects.

• Increase in per capita income and easy availability of finances and loans

Modular construction provides a solution to this shortage by enabling more automation. New technologies such as artificial intelligence can help to increase off-site prefabrication-modular construction cuts cost by 20 to 30 percent. Modular construction will help to meet the demands for affordable housing.

• Growing emphasis on sustainability, quality, and workers' safety

Modular construction uses precise measurement and management through which multiple modules are created so discarded materials can be reused for other projects. This effectively helps in minimizing the generation of waste. The amount of waste generated by traditional construction has always challenged the environment compared to modular construction. Modular construction generates less waste and is also easy to dispose of.

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