Modular Construction Market worth $219.17 billion by 2030, growing at a CAGR of 7.37% - Exclusive Report by 360iResearch

The "Modular Construction Market by Type (Permanent, Relocatable), Material (Plastic, Precast Concrete, Steel), Module, End User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Modular Construction Market to grow from USD 133.21 billion in 2023 to USD 219.17 billion by 2030, at a CAGR of 7.37%.

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Modular construction is a creative building technique that prefabricates standardized modules or components in a controlled, factory-like setting before being transported to the construction site for assembly and final installation. Modular units can be configured to meet various architectural designs and purposes, ranging from single-family homes to multi-story apartment buildings and commercial properties. By shifting much of the construction activity away from the site and into a controlled environment, modular construction minimizes on-site labor, reduces waste, and can offer significant improvements in overall construction quality and safety. Sustainable construction with reduced waste and efficient use of resources coupled with increased government incentives for green building initiatives that favor the adoption of modular construction practices. However, logistical challenges associated with transporting prefabricated modules, particularly for larger projects or areas with inadequate infrastructure, may impede the market growth. Nevertheless, developing smart modular units equipped with IoT technologies for enhanced functionality and integrating renewable energy systems into modular designs is expected to create potential opportunities for the modular construction market.

The modular construction market in the Americas is developing with a consumer base that is increasingly aware of the benefits, including reduced construction time, cost savings, and sustainability. The region shows many new patents related to modular construction, highlighting continuous innovation in building techniques and materials. Furthermore, the increased adoption of modular construction is driven by the need for speed in construction and governmental initiatives promoting green building practices. Modular construction is gaining traction within the European Union (EU) due to stringent sustainability regulations and high labor costs, making prefabricated solutions an attractive alternative. The consumer base is conscious of environmental impact and energy efficiency, making Europe an avid adopter of green modular construction methods. In the Middle East, the demand for modular buildings is rising, linked to the region's focus on innovation and sustainability in preparation for events, including the World Expo and the FIFA World Cup. In Africa, modular construction is viewed as a solution to the urgent housing demand and infrastructural development. Consumers are driven by necessity and cost-effectiveness. Investments are primarily directed towards affordable housing projects. The Asia Pacific region displays a robust growth in the modular construction market, fostered by rapid urbanization and the growing need for affordable housing. China and India are at the forefront, given the enormous population pressure and urbanization trends. The government's push towards prefabrication to address housing shortages and reduce waste has also been instrumental. This region's patents focus on innovations in modular design and sustainable materials. Technology-driven countries have adopted high-tech modular solutions, particularly in response to disaster recovery needs. Investments in research often prioritize earthquake resistance and efficiency in design.

Market Segmentation & Coverage:

This research report categorizes the Modular Construction Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Permanent and Relocatable. The Permanent is projected to witness significant market share during forecast period.

Based on Material, market is studied across Plastic, Precast Concrete, Steel, and Wood. The Precast Concrete is projected to witness significant market share during forecast period.

Based on Module, market is studied across Four-Sided Modules, Mixed Modules and Floor Cassettes, Modules Supported By A Primary Structure, Open-Sided Modules, and Partially Open-Sided Modules. The Four-Sided Modules is projected to witness significant market share during forecast period.

Based on End User, market is studied across Commercial, Education, Healthcare, Housing, and Industrial. The Housing is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.40% in 2023, followed by Asia-Pacific.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Modular Construction Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Modular Construction Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Modular Construction Market, highlighting leading vendors and their innovative profiles. These include Alta-Fab Structures Ltd., ATCO Ltd., Bouygues Construction, CIMC Modular Building Systems Holding Co Ltd.by CIMC Group, Dubox, Dutco Group of Companies, Elements Europe, Etex Group, Fleetwood Corporation Limited, GMC Solutions, Guerdon, LLC, H+H UK Limited, HOMAG Group, Kleusberg GmbH & Co. KG, KOMA MODULAR s. r. o., Kwikspace, Laing O'Rourke, Lendlease Corporation Limited, McGrath RentCorp, Modulaire Group, Modular Concepts, Inc., Modulex Modular Buildings Plc, NRB Modular Solutions Inc., Pressmach Infrastructure Private Limited, Red Sea International, SIPEUROPE s.r.o, Skanska AB, Vinci S.A., Wernick Group of Companies, and Williams Scotsman, Inc..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Modular Construction Market, by Type
7. Modular Construction Market, by Material
8. Modular Construction Market, by Module
9. Modular Construction Market, by End User
10. Americas Modular Construction Market
11. Asia-Pacific Modular Construction Market
12. Europe, Middle East & Africa Modular Construction Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Modular Construction Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Modular Construction Market?
3. What is the competitive strategic window for opportunities in the Modular Construction Market?
4. What are the technology trends and regulatory frameworks in the Modular Construction Market?
5. What is the market share of the leading vendors in the Modular Construction Market?
6. What modes and strategic moves are considered suitable for entering the Modular Construction Market?

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