Precision Business Insights has published a report on the global modular construction market, estimating its value at USD 108,300.0 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/modular-construction-market
Market Definition:
Modular construction is a contemporary building technique in which buildings are constructed in "modules" or portions off-site, usually in a factory, and then moved to the final assembly location. It is designed to adhere to the same rules and codes as conventional construction, but it is similar to building with enormous LEGO blocks.
Drivers:
1) Increasing urbanization and infrastructure.
2) Advancements in Technology like (BIM) building information modelling.
The global modular construction market segmentation:
1) By Material Type: Steel, Concrete, Wood, and Plastic.
2) By Modules: 4-Sided, Partially Open-Sided, Fully Open-Sided, and Others.
3) By Construction: Permanent, Re-locatable.
4) By End Users: Residential, Commercial, Industrial, Institutional/ Educational, Healthcare, and Others.
Regional Overview:
The report also examines the current concerns and their Future Effects on the modular construction market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the modular construction market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
· North America (U.S., Canada)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
· Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
· Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like Sekisui House Ltd., LAING O'ROURKE, ATCO, Red Sea International, Anderco Pte. Ltd, Skanska, Bouygues Construction, Speed House Group of Companies, Premier Modular Limited, Giant Containers Inc, Supertech Industries LLC, Bechtel Corporation, Fluor Corporation, KLEUSBERG GmbH & Co KG, DuBox, Wernick Group, SG Blocks Inc, CIMC Modular Building Systems Holdings Co., Ltd. (CIMC-MBS), Riko Hiše d.o.o, Lendlease Corporation, Modulaire Group, Guerdon, LLC, Hickory Group.
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