Market Research Report
Europe Modular Construction Market Forecast 2021-2028
|Europe Modular Construction Market Forecast 2021-2028|
Published: September 1, 2021
Content info: 155 Pages
Delivery time: 2-3 business days
The Europe modular construction market is projected to develop with a CAGR of 5.40% over the estimated period of 2021 to 2028. The market growth of the region is attributed to the augmenting construction industry predominantly across countries such as Germany, the United Kingdom, and Spain, the surging aging populace, the shortage of skilled labor, and industries' environmental impact.
The Europe modular construction market growth is determined through the analysis of Russia, Belgium, Italy, Poland, Germany, France, the United Kingdom, and the rest of Europe. The market in France provides tremendous potential in terms of the adoption of prefabricated buildings. Timber construction is expanding across all building sectors, ranging from offices and houses to public facilities, with sales accounting for more than $1.7 billion and nearly 2,000 firms active within the French market space. In addition, vendors catering to the country's market have also invested in innovative construction methodologies.
Conversely, investments in transport, energy, housing, and tourism infrastructure projects in Italy are anticipated to supplement the industrial output during the forecasting period. In this regard, in 2019, the country's government signed an agreement worth $2.8 billion with the Chinese government for numerous projects as part of a new Silk Road. Furthermore, significant construction projects have also been initiated in Italy. As a result, these factors are expected to fuel the modular construction market growth in Europe during the forecast years.
Leading firms operating in the market are Bouygues Construction, Modulaire Group, Koma Modular, and others.