Press release
North America Modular Construction Market to Reach USD 43.67 Billion by 2033 | Industry Growing at a CAGR of 4.56%
North America Modular Construction Market 2025-2033
How Big is the North America Modular Construction Market?
The North America modular construction market size was valued at USD 28.64 Billion in 2024. Looking forward, the market is expected to reach USD 43.67 Billion by 2033, exhibiting a CAGR of 4.56% from 2025 to 2033.
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 28.64 Billion
Market Size in 2033: USD 43.67 Billion
Market Growth Rate (CAGR) 2025-2033: 4.56%
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North America Modular Construction Market Trends and Drivers:
The North America modular construction market is witnessing considerable traction fueled by accelerating demand for quicker and cost-effective building techniques, shortage of skilled labor, and rising urbanization in the region. Essentially, modular construction provides benefits like less construction time, enhanced quality control, and waste minimization, hence making it a favorite among residential, commercial, and institutional construction projects. Aside from that, the chronic housing shortage, particularly in high-density urban areas, is pushing developers and government institutions to adopt prefabricated and modular alternatives to address the increasing housing needs rapidly and economically.
Furthermore, increasing labor prices and dwindling skilled labor in the conventional construction industry are pushing toward factory-based modular construction that involves fewer on-site labor hours. In addition, modular approaches provide greater sustainability in terms of enabling improved energy efficiency, material reusability, and reduced carbon emissions in the construction process. Combined with this, increasing investments in infrastructure and smart cities, especially in the United States and Canada, are bringing rich opportunities for modular technologies in the school, hospital, office, and affordable housing markets.
In addition, the use of high-tech systems like Building Information Modeling (BIM), 3D printing, and automation in the modular construction process is making design more efficient, enhancing accuracy, and overall improving project results. Further, growing green awareness and regulatory pressure for green buildings are encouraging builders to embrace modular construction as it lends itself well to LEED certifications and environmental objectives. Similarly, climate change-related issues and natural disasters are compounding pressure on the demand for rapid, scalable, and resilient housing, where modular construction shines in its ability to satisfy this demand.
Furthermore, large businesses and start-ups are teaming up with property developers to introduce turnkey modular building solutions, compounding innovation and market reach. In the meantime, the move to flexible, affordable, and adaptable working and living environments is driving demand for modular designs. Additionally, facilitative zoning reforms and simplified building codes in most states are eliminating conventional barriers and driving adoption. Overall, the intersection of technology innovation, sustainability demands, shifting labor dynamics, and the imperative for faster project delivery is bringing modular construction to the forefront as an agent of change in North America's shifting construction environment.
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Some of the key players are:
• Aries Building Systems, LLC
• ATCO Ltd.
• Boxx Modular, Inc. (Black Diamond Group)
• Mobile Modular Management Corporation (McGrath RentCorp, Inc.)
• Modular Genius, Inc.
• Satellite Shelters, Inc.
• Triumph Modular Corporation
• Vanguard Modular Building Systems, LLC
• Vesta Modular
• Willscot Corporation
North America Modular Construction Industry Segmentation:
The report has segmented the market into the following categories:
Analysis by Division:
• Permanent Modular Construction (PMC)
• Relocatable Buildings (RB)
Analysis by Sector:
• Public
• Residential
• Commercial
• Others
Analysis by Material:
• Wood
• Concrete
• Steel
• Others
Analysis by Country:
• United States
• Canada
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Key highlights of the Report:
• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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US Renewable Energy Market Report: https://www.imarcgroup.com/united-states-renewable-energy-market/requestsample
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About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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