Market Overview

Global Modular Construction Market 2018-2023: $129 Bn Opportunities with Multinationals Adopting Modular Construction

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Global Modular Construction Market 2018-2023: $129 Bn Opportunities with Multinationals Adopting Modular Construction

PR Newswire

DUBLIN, Aug 14, 2018 /PRNewswire/ --

The "Modular Construction Market by Type (Permanent, Relocatable), Material (Precast concrete, Steel Wood, Plastic, Others), End-use sector (Housing, Commercial, Education, Healthcare, Industrial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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This report projects that the modular construction market will grow from USD 92.18 billion in 2018 to USD 129.67 billion by 2023, at a CAGR of 7.1%.

Growth in infrastructure investment and industrialization, ease of installation and relocation, and the demand for affordable housing drive the growth of the modular construction market. The housing segment is projected to account for a larger share through 2023. The cost-effectiveness and time-saving characteristics of this technology have contributed toward its use for developing buildings. Furthermore, it offers numerous benefits in terms of quality control, faster build times, greater flexibility and reuse, cost savings, and environmental benefits.

The segmentation for this report is based on type, material, module, end-use sector, and region. Housing is projected to be the fastest-growing end-use sector segment of the modular construction market. In this sector, the demand for modular construction is expected to be driven by the demand for affordable housing with time-saving characteristics. Countries are turning toward the adoption of modular construction methods to meet the rising demand for housing that is eco-friendly and cost-effective due to efficient in-factory processes and reduced waste.

By material, the market has been segmented into steel, precast concrete, wood, plastic, and others. Each material differs from others on the basis of advantages and limitations. In 2017, steel accounted for the largest share of the modular construction market. Design flexibility, strength, structural integrity, durability, security and fire resistance, and reduced need for repairs and maintenance throughout a building's life have contributed toward the extensive use of steel in modular construction.

Permanent modular construction dominated the market in 2017, in terms of value, as a result of the rising need for affordable houses, coupled with the high-quality control in comparison to on-site construction. Permanent modular construction is widely employed in numerous sectors, including residential, office and administrative spaces, K-12 education, retail and hospitality, healthcare, higher education student housing, and publicly-funded facilities.

Asia Pacific dominated the modular construction market in 2017, in terms of value. China contributes a major share to the Asia Pacific modular construction market. Increasing urbanization, increasing demand for buildings at affordable costs, and favorable policies and plans are driving the demand for modular construction in the region. Chinese prefabrication manufacturers are further collaborating with global manufacturers to solve their crisis for houses. For instance, UK's Your Housing Group signed a deal of USD 2.77 billion with the state-owned China National Building Material Company. Under this project, 25,000 new homes would be constructed over the next five years.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Emerging Economies to Shift Its Focus Toward Modular Construction
4.2 Modular Construction Market, By Type
4.3 Modular Construction Market, By Material
4.4 Modular Construction Market, By End-Use Sector
4.5 Asia Pacific Modular Construction Market, By End-Use Sector & Country
4.6 Modular Construction Market: Key Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Infrastructure Investment and Industrialization
5.2.1.2 Increase in Concern Towards Work-Zone Safety and Need for Lower Environment Impacts
5.2.1.3 Need for Reduced Construction Time and Cost
5.2.1.4 Ease of Installation and Relocation
5.2.1.5 Supportive Government Initiatives
5.2.2 Restraints
5.2.2.1 Economic Downturn in Major Regions
5.2.3 Opportunities
5.2.3.1 Increase in Population and Rapid Urbanization Translating to A Large Number of New Construction Projects
5.2.3.2 Multinationals Adopting Modular Construction
5.2.4 Challenges
5.2.4.1 Lack of Awareness
5.2.4.2 Volatility in Transportation Charges Can Create an Unpredictable Business Environment

6 Industry Trends
6.1 Introduction
6.2 Supply Chain
6.2.1 Product Development & Distribution are an Integral Part of the Supply Chain in the Modular Construction Market
6.2.2 Prominent Companies
6.2.3 Small & Medium Enterprises
6.3 Porter's Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Suppliers
6.3.4 Bargaining Power of Buyers
6.3.5 Intensity of Competitive Rivalry
6.4 Macro Economic Indicators
6.4.1 Rising Population
6.4.2 Increase in Middle-Class Population, 2009-2030
6.4.3 Developing Economics, GDP (Purchasing Power Parity), 2015
6.4.4 GDP & Contribution to the Construction Industry, By Country

7 Modular Construction Market, By Type
7.1 Introduction
7.2 Permanent
7.3 Relocatable

8 Modular Construction Market, By Material
8.1 Introduction
8.2 Precast Concrete
8.3 Steel
8.4 Wood
8.5 Plastic
8.6 Others

9 Modular Construction Market, By Module
9.1 Introduction
9.2 4-Sided Modules
9.3 Open-Sided Modules
9.4 Partially Open-Sided Modules
9.5 Mixed Modules and Floor Cassettes
9.6 Modules Supported By A Primary Structure
9.7 Others

10 Modular Construction Market, By End-Use Sector
10.1 Introduction
10.2 Housing
10.3 Commercial
10.4 Healthcare
10.5 Education
10.6 Industrial

11 Modular Construction Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking
12.3 Competitive Scenario

13 Company Profiles

  • Laing O'rourke
  • Red Sea Housing
  • Atco
  • Bouygues Construction
  • Vinci
  • Skanska AB
  • Algeco Scotsman
  • Kleusberg GmbH & Co. Kg
  • Kef Katerra
  • Lendlease Corporation
  • Modular Space Corporation
  • Dubox
  • Kwikspace Modular Buildings
  • Guerdon Enterprises LLC
  • Alta-Fab Structures
  • Westchester Modular Homes
  • Wernick Group
  • Fleetwood Australia
  • NRB Inc.
  • Koma Modular
  • Hickory Group
  • Clayton Homes
  • J.D. Irving
  • Horizon North Logistics
  • Art's Way Manufacturing

For more information about this report visit https://www.researchandmarkets.com/research/rv2rfb/global_modular?w=5

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