Modular Construction Market

Modular Construction Market Overview, Top Key Players, Growth and Analysis
by Forecast to 2023
Global Modular Construction Market Information Report, by Material (Concrete, Steel, Plastic, Wood
and Other), by Construction (Permanent Modular, and Relocatable Modular), by Product (Walls, Roofs &
Floor, Columns & Beams and Others), by Application (Residential, Commercial, Industrial) and By Region
- Global Forecast to 2023
Market Scenario:
On the basis of region, Asia-Pacific region dominates the modular construction market. It accounted for
the largest market share of 46.30% in 2016, with a market value of USD 48.2 million. Increase in
industrialization, rising urbanized population, and growth in spending capacity are the factors driving the
growth of the market in Asia-Pacific region. China is one of the leading markets in the Asia-Pacific region.
Chinese government issued several favorable policies for lowering the proportion of down payment for
second house loans and exempting of sales tax for ordinary housing, which helped the recovery of
commercial housing market. Additionally, the rising demand for eco-friendly & sustainable construction
and government support, fuel the demand of modular construction market in the region.
North America is the second largest region for the modular construction market. It accounted for the
market share of 27.6% in 2016, with a market value of USD 28.7 million. The North America modular
construction market is driven by various factors such as consumer preference for green buildings and
sustained investments in commercial real estate. The growing popularity of modular & panelized
housing also provides the further boost to the market. In North America, U.S. is the largest market for
the modular construction. In the past few years, the annual value of construction in U.S. had been
increasing continuously. Strong development in commercial and residential structures in the U.S., is
projected to fuel the demand for modular construction market in the region. Europe is another
important market for the global modular construction and is projected to grow at a CAGR of 4.90%
during the forecast period. Increasing up gradation of the existing infrastructure, rising environmental
concerns and the growing interest in energy saving & cost benefit construction, are the factors driving
the growth of the market in European region.
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The market has been segmented based on material, construction, product and application. On the basis
of material, concrete accounted for the largest market share of 33.70% in 2016, with a market value of
USD 35.1 Million and is projected to grow at the highest CAGR of 7.19% during the forecast period. The
major reason behind this huge market share is the need and requirement of concrete in the modular
construction. Concrete gives the strength and stability to the modular building and is majorly used
material in the modular construction. On the basis of product, roof & floors are the major part of the
modular construction and is accounted for the largest market share of 41.00% in 2016, with a market
value of USD 42.6 Million and is projected to grow at the highest CAGR of 6.69% during the forecast
period.
On the basis of application, residential accounted for the largest market share of 47.00% in 2016, with a
market value of USD 48.9 Million. It is the highest growing segment in global modular construction
market due to the increasing population and urbanization. There is seen a shift in the population in the
urbanized areas, especially in developing nations. This transition leads to the increasing demand for
homes and residential complexes. Commercial was the second-largest market in 2016, valued at USD
38.5 Million in 2016. Governments are now focusing to develop better infrastructure (heavy civil works
such as rail, road, dams, irrigation canals, etc.) for a greater nation and betterment of the public. These
collective factors are leading to the growth of the market.
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Segmentation: Global Modular Construction Market:
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ACS Group (Spain),
Skanska AB (Sweden),
Komatsu Ltd (Japan)
L&T (India)
Balfour Beatty Plc. (U.K.)
Kiewit Corporation (U.S.)
Taisei Corporation (Japan)
Red Sea Housing Services (Saudi Arabia)
 System House R & C Co. Ltd (Japan)
 Bouygues Construction (France)
Hence, Global Modular Construction Market is expected to reach a market size of USD 154.8 million by
the end of the forecast period at CAGR of 5.95%.
The report for Global Modular Construction Market of Market Research Future comprises of extensive
primary research along with the detailed analysis of qualitative as well as quantitative aspects by various
industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.
The report gives the clear picture of current market scenario which includes historical and projected
market size in terms of value and volume, technological advancement, macro economical and governing
factors in the market. The report provides details information and strategies of the top key players in
the industry. The report also gives a broad study of the different market segments and regions.
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