Press release
Global Modular Construction Market: Rising at a CAGR of 8.6%, Eyeing $150.79 Billion Value by 2029, Influenced by Major Drivers and Trends
Modular Construction Market
What Is The Projected Market Size Of The Global Modular Construction Market And Its Growth Rate?
The modular construction market has been experiencing significant growth and is projected to escalate further moving ahead.
• The market value surged from $101.67 billion in 2024 to $108.6 billion in 2025, marking an impressive CAGR of 6.8%.
• The strong growth is associated with various factors including industrialization, post-war housing demands, cost and time efficiency, sustainability awareness, and development in transportation infrastructure.
• The market is projected to grow to $150.79 billion in 2029 at a CAGR of 8.6%.
• Resilient and disaster-ready solutions, government support and regulations, healthcare and education sector growth, flexibility in design, and workforce shortages are going to be key drivers for this growth.
What Is Driving The Growth In The Modular Construction Market?
The rise in demand for construction is a primary factor driving the growth in the modular construction market. As construction activities increase, so does the demand for modular construction, enabling faster initiation and completion of both residential and commercial building projects. This method also reduces labor costs and streamlines work, given its facilitation of establishing climate-controlled facilities. The 2022 U.S. Construction Cost Trends report highlights a rise in residential construction in the U.S., leading to an increase in demand for materials and labor, thereby escalating competition and cost pressures. Total construction spending in the U.S. has also increased by 16% since the onset of the pandemic. This surge in construction activities is expected to further catalyze the growth in the modular construction market.
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Who Are the Key Players Driving Modular Construction Market Growth?
The following are key companies operating in the modular construction market:
• Bouygues Construction SA
• Laing O'Rourke
• Skanska AB
• ATCO Ltd.
• Balfour Beatty Plc.
• Taisei Corporation
• Supertech Industries LLC
• Anderco Pte. Ltd.
• Giant Containers Inc.
• Honomobo Corporation
• Lendlease Corporation
• SG Blocks Inc.
What Are The Key Trends In The Modular Construction Market?
The following trends can be observed in the modular construction market:
• Proliferating regulatory support
• Healthcare and education facility constructions
• Resilience and disaster response
• Cost predictability
• Flexibility and customization
What Are The Segments Of The Global Modular Construction Market?
The modular construction market covers the segments as follows:
• By Type: Permanent, Relocatable
• By Material: Steel, Wood, Concrete
• By Module: Four-sided, Open-Sided, Partially Open-Sided, Mixed modules and Floor Cassettes, Modules supported by a primary structure, Other Modules
• By End-Use Sector: Residential, Office, Education, Retail and Commercial, Hospitality, Healthcare, Other End Users
Which Region Leads The Modular Construction Market?
Asia-Pacific was the largest region in the modular construction market in 2024, with other regions covered in the report including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Modular Construction Market Global Market Report?
- Market Size Analysis: Analyze the Modular Construction Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Modular Construction Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Modular Construction Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Modular Construction Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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