Modular Construction Global Market Report 2024

Description

Modular Construction Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on modular construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for modular construction? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The modular construction market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Permanent; Relocatable
2) By Material: Steel; Wood; Concrete
3) By Module: Four-sided; Open-sided; Partially open-sided; Mixed modules and floor cassettes; Modules supported by a primary structure; Other Modules
4) By End-Use Sector: Residential; Office; Education; Retail and Commercial; Hospitality; Healthcare; Other End Users
Companies Mentioned: Bouygues Construction SA; Laing O'Rourke; Skanska AB; ATCO Ltd.; Balfour Beatty Plc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Modular construction involves off-site manufacturing of buildings while adhering to traditional building standards. It's widely used due to several advantages such as time-saving, reduced labor costs, minimized waste, and increased productivity through standardized components.

The modular construction primary types include permanent and relocatable. Permanent elements remain in place for extended periods, fitting into existing structures or designed around modular building techniques. Materials like steel, wood, and concrete are used in various forms such as four-sided, open-sided, partially open-sided modules, mixed modules, floor cassettes, and those supported by primary structures. These modular variations cater to residential, office, educational, retail, commercial, hospitality, healthcare, and other sectors.

The modular construction market research report is one of a series of new reports from The Business Research Company that provides modular construction market statistics, including modular construction industry global market size, regional shares, competitors with a modular construction market share, detailed modular construction market segments, market trends and opportunities, and any further data you may need to thrive in the modular construction industry. This modular construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The modular construction market size has grown strongly in recent years. It will grow from $95.68 billion in 2023 to $102.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historical phase can be traced back to industrialization and the application of mass production principles, addressing the housing demands post-war, emphasis on cost and time efficiency in construction, growing awareness and emphasis on sustainability, and the substantial development of transportation infrastructure.

The modular construction market size is expected to see strong growth in the next few years. It will grow to $138.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. Anticipated growth in the upcoming period is expected to be driven by the development of resilient and disaster-prepared solutions, bolstered by government support and regulatory measures. Growth is also anticipated in the healthcare and education sectors, highlighting the need for flexible design approaches amid workforce shortages. Key trends projected for this period encompass regulatory backing, advancements in healthcare and educational infrastructure, emphasis on resilience and disaster response capabilities, the assurance of cost predictability, and a growing focus on flexibility and customization in various sectors.

The upsurge in demand for construction is expected to propel the modular construction market going forward. The construction industry is the industrial branch of trade and manufacturing that is concerned with the construction, repair, renovation, and maintenance of infrastructures. The construction activities are creating a demand for modular construction to facilitate the faster construction of residential and commercial buildings. This construction enables the construction business to speed up the entire project by facilitating the establishment of climate-controlled facilities and minimizing labor expenses, thereby significantly reducing work and time. For instance, in the 2022 U.S. Construction Cost Trends report, in the U.S., there is a rise in residential construction which will continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, increasing construction activities will drive the modular construction market.

The projected surge in urbanization stands as a catalyst for the modular construction market's growth. Urbanization, the concentration of populations in specific areas, is anticipated to bolster this industry due to its alignment with the demands of densely populated urban settings. Statistics from the World Bank indicate that over half of the global populace currently resides in urban regions, with projections indicating a 1.5-fold increase to 6 billion by 2045. By 2030, an estimated 1.2 million km2 of additional urban built-up space will emerge, expanding at a rate potentially 50% faster than population growth. This trend in urbanization significantly propels the modular construction market forward.

Innovation is a prominent trend shaping the modular construction sector. Industry leaders are actively introducing novel products to solidify their market positions. For instance, Black Buffalo 3D Corporation, a U.S.-based entity, unveiled the NEXCON 3D printers in February 2022. This technology integrates 3D printing into modular construction, effectively addressing conventional industry challenges. The NEXCON system boasts enhanced efficiency in printing components or walls, offering speed, cost-effectiveness, and stronger, more durable structures. Its motion-centric modular gantry design enables rapid construction of buildings up to three stories high, utilizing 3D-modeled designs developed through standard CAD software.

Major players in the modular construction realm are spearheading innovative construction solutions to expand their consumer base, drive sales, and augment revenue streams. Notably, China State Construction International Holdings (CSCI), a China-based construction giant, introduced the Hailong Cubes series in August 2022. These encompass three distinctive construction solutions such as E series featuring the Hailong high-rise MiC elevator solution, S series integrating the Hailong high-rise steel MiC solution, and C series embodying the Hailong high-rise concrete MiC solution. Each series offers unique features tailored to address specific construction challenges. The MiC building methodology, adaptable to various structures like commercial complexes, residences, schools, hospitals, and elevators, marks a versatile approach within the industry.

In January 2021, Etex Group, a prominent European-based global manufacturer of building materials, acquired e-Loft, a French company specializing in 3D wood technology-based modular construction. This acquisition is poised to bolster Etex Group's presence in the modular construction sphere. E-Loft excels in constructing modular single-family and multi-family homes alongside custom-designed buildings, leveraging innovative 3D wood technology within their construction methodologies.

Major companies operating in the modular construction market report are 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., Guerdon L.L.C, Modulex PLC, Bechtel Corporation, ACS Group, Fluor Corporation, JL Construction, Julius Berger Nigeria PLC, Kiewit Corporation, Larsen & Toubro Limited, McGRATH RENTCORP, Palomar Modular Buildings, Red Sea Housing Services, SEKISUI CHEMICAL CO. Ltd., System House R & C Co. Ltd., WillScot Mobile Mini Holdings Corp, Westchester Modular Homes, Koma Modular

Asia-Pacific was the largest region in the modular construction market share in 2023. The regions covered in the modular construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the modular construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The modular construction market includes revenues earned by entities by constructing or engineering prefabricated constructions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12883

1. Executive Summary

2. Modular Construction Market Characteristics

3. Modular Construction Market Trends And Strategies

4. Modular Construction Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Modular Construction Market Size and Growth

5.1. Global Modular Construction Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Modular Construction Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Modular Construction Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Modular Construction Market Segmentation

6.1. Global Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Permanent
Relocatable
6.2. Global Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Steel
Wood
Concrete
6.3. Global Modular Construction Market, Segmentation By Module, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Four-sided
Open-sided
Partially open-sided
Mixed modules and floor cassettes
Modules supportedBy a primary structure
Other Modules
6.4. Global Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Office
Education
Retail and Commercial
Hospitality
Healthcare
Other End Users

7. Modular Construction Market Regional And Country Analysis

7.1. Global Modular Construction Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Modular Construction Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Modular Construction Market

8.1. Asia-Pacific Modular Construction Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Modular Construction Market

9.1. China Modular Construction Market Overview
9.2. China Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Modular Construction Market

10.1. India Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Modular Construction Market

11.1. Japan Modular Construction Market Overview
11.2. Japan Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Modular Construction Market

12.1. Australia Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Modular Construction Market

13.1. Indonesia Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Modular Construction Market

14.1. South Korea Modular Construction Market Overview
14.2. South Korea Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Modular Construction Market

15.1. Western Europe Modular Construction Market Overview
15.2. Western Europe Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Modular Construction Market

16.1. UK Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Modular Construction Market

17.1. Germany Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Modular Construction Market

18.1. France Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Modular Construction Market

19.1. Italy Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Modular Construction Market

20.1. Spain Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Modular Construction Market

21.1. Eastern Europe Modular Construction Market Overview
21.2. Eastern Europe Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Modular Construction Market

22.1. Russia Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Modular Construction Market

23.1. North America Modular Construction Market Overview
23.2. North America Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Modular Construction Market

24.1. USA Modular Construction Market Overview
24.2. USA Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Modular Construction Market

25.1. Canada Modular Construction Market Overview
25.2. Canada Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Modular Construction Market

26.1. South America Modular Construction Market Overview
26.2. South America Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Modular Construction Market

27.1. Brazil Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Modular Construction Market

28.1. Middle East Modular Construction Market Overview
28.2. Middle East Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Modular Construction Market

29.1. Africa Modular Construction Market Overview
29.2. Africa Modular Construction Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Modular Construction Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Modular Construction Market, Segmentation By End-Use Sector, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Modular Construction Market Competitive Landscape And Company Profiles

30.1. Modular Construction Market Competitive Landscape
30.2. Modular Construction Market Company Profiles
- 30.2.1. Bouygues Construction SA
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Laing O'Rourke
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Skanska AB
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. ATCO Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Balfour Beatty Plc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Modular Construction Market Competitive Benchmarking

32. Global Modular Construction Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Modular Construction Market

34. Modular Construction Market Future Outlook and Potential Analysis

34.1 Modular Construction Market In 2028 - Countries Offering Most New Opportunities
34.2 Modular Construction Market In 2028 - Segments Offering Most New Opportunities
34.3 Modular Construction Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer