Global Demand for Modular Construction to Increase Due to Labor Shortage

According to a new market research report launched by Inkwood Research, the Global Modular Construction Market is likely to gain $137.42 billion by 2032, at a CAGR of 6.68% from 2023 to 2032.

This insightful market research report by Inkwood Research focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. The report covers all the aspects of this comprehensive market by assessing major geographies, and is a valuable asset for the existing players, new entrants, and future investors. The study presents a detailed market analysis, with inputs derived from industry professionals across the value chain.

Refer to the Report Summary Here: https://inkwoodresearch.com/reports/modular-construction-market/?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=InkwoodPR

The Canada modular construction market is anticipated to project a CAGR of 5.27% over the forecast years from 2021 to 2026.
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Global Modular Construction Market Scenario

There is a labor shortage in a number of nations, including the US, Japan, South Korea, and European nations. One of the main causes of the labor shortage is the aging population trend. As a result, the requirement for automation and other technologies to guarantee project completion on time is increasing. Due of the increasing labor requirements in the building industry, modular construction is becoming more and more popular. This is primarily because, in comparison to traditional construction, modular construction requires fewer laborers. The global market's scope is therefore anticipated to expand throughout the projected period due to the labor shortage.

However, because most modular construction operations are done off-site, logistics are more important to obtain prefabricated materials on-site. As a result, transportation is required for these activities. In this sense, the growth of the market as a whole is hampered by the high costs of transportation and the complexity of logistics.

The Global Modular Construction Market report provides data tables and includes charts and graphs for visual analysis.

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Market Segmentation

Market by Application
• Industrial/Institutional
• Commercial
• Residential

Market by Materials
• Wood
• Steel
• Plastic
• Concrete

Market by Construction
• Re-Locatable
• Permanent

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Report Highlights
- The report provides a detailed analysis of the current and future market trends to identify the investment opportunities
- Market forecasts till 2032, using estimated market values as the base numbers
- Key market trends across the business segments, regions, and countries
- Key developments and strategies observed in the market
- Market dynamics such as drivers, restraints, opportunities, and other trends
- In-depth company profiles of key players and upcoming prominent players
- Growth prospects among the emerging nations through 2032

Companies Profiled
• ART'S WAY MANUFACTURING
• MODULAIRE GROUP
• ALTA-FAB STRUCTURES
• ATCO
• SKYLINE CHAMPION CORPORATION
• CHAMPION HOME BUILDERS
• RED SEA HOUSING
• ZEKELMAN INDUSTRIES
• FLEETWOOD AUSTRALIA
• ABTECH
• CIMC MODULAR BUILDING SYSTEMS
• KOMA MODULAR
• ASTRON
• CLAYTON HOMES
• BOUYGUES CONSTRUCTION

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This release was published on openPR.