Market Research Report
Global Modular Construction Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||911658|
Delivery time: 2-3 business days
|Global Modular Construction Market 2019-2025|
|Published: September 2, 2019||Content info:||
Global Modular Construction
Market Size, Share & Trends Analysis Report by Type (Permanent and Relocatable), by Material (Concrete, Steel, Wood, and Others), By End-User (Residential, Commercial, and Industrial).
The global modular construction market is growing on the backdrop of increasing demand for modern off-site construction techniques. The modular buildings are the factory-made buildings which are assembled at a remote site. The major benefit offered by a modular construction building is that it can be built in a shorter period of time and are cheaper in price. One of the key factors contributing to the growth of the market includes increasing population coupled with rising urbanization that leads to a large number of new construction projects. According to the United Nations in 2018, 55% of the urban population lives in the urban area, which was around 4.2 billion. This is expected to reach 68% by 2050, with more than 6 billion people. This rapid increase in urbanization is expected to shift the inclination of the consumers towards modular construction.
The global modular construction market is segmented on the basis of type, material, and end-user. By type, the market is divided into permanent and relocatable. Permanent modular construction is expected to contribute significantly as it is widely adopted in various sectors such as retrial and hospitality, residential, offices, and hospitals. On the basis of material, the market is segmented into concrete, steel, wood, and others. Steel is a durable, fire-resistant, and flexible material owing to which, it is being adopted in various industries for modular construction. Further, on the basis of end-user, the market is segmented into residential, commercial, and industrial.
Geographically, the study of the market covers the analysis of four major regions; North America (the US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of the World (RoW). Asia-Pacific is expected to contribute significantly to the market. Further, the report covers the analysis of several players operating in the market. Some of the players include ATCO Ltd., Bouygues Construction SA, Larsen & Toubro Ltd., Laing O'Rourke, Vinci SA, Red Sea International Co., KLEUSBERG GmbH & Co. KG, and Algeco Group. Merger and acquisitions have been observed as one of the major strategies. For instance, in June 2018, Indian offsite infrastructure manufacturing company KEF Infra announced a strategic merger with Katerra, the US-based company. This partnership is aimed at expanding geographic reach, manufacturing capacity, and market expertise of both the companies.
The market study of the global modular construction market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
The report is intended for modular building manufacturers, building contractors, raw material suppliers, traders, and distributors, end-user industry, investing companies, government and regulatory bodies, for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, products, and services offered by the company, and future market opportunity. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.