Insights on the Modular Construction Global Market to 2027 - Increasing Requirement for Time and Cost-effective Construction Solutions Drives Growth
The global modular construction market reached US$ 76.1 billion in 2021 and is projected to grow to US$ 109 billion by 2027, reflecting a CAGR of 6.17%. This method involves off-site construction of prefabricated buildings and is faster, cost-effective, and sustainable compared to traditional approaches. Increasing demand for quick and economical construction solutions, alongside environmental awareness, is propelling market growth. Key players include Lendlease Corporation (LLESY) and others, with rising consumer expenditure and supportive government policies further enhancing prospects.
- Market size growth from US$ 76.1 billion in 2021 to US$ 109 billion by 2027.
- CAGR of 6.17% indicates strong future growth potential.
- Modular construction offers enhanced sustainability and lower resource requirements.
- None.
The global modular construction market size reached
Modular construction refers to the off-site development of prefabricated engineered buildings in controlled industrial conditions. It involves the use of individual modules or sections, such as kitchens, bathroom pods and complete or partial rooms, manufactured in a facility using standard materials and code of construction.
These modules are further assembled at the building site and are reinforced with a self-supporting structure or an independent structural framework for multi-story buildings. In comparison to the traditionally used construction methods, modular construction is faster, cost-effective, sustainable and causes minimal disturbances and waste generation. It can also be conveniently disassembled, refurbished and relocated with low resource requirements.
Significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing requirement for time and cost-effective construction solutions is providing a thrust to the growth of the market.
With the rising environmental consciousness among the masses, consumers are widely adopting permanent modular constructions (PMC) for developing sustainable commercial, industrial and residential complexes. They are also used for establishing custom-built rehabilitation clinics, emergency rooms, operating rooms, hospital extensions, laboratories, diagnostic centers and other medical facilities.
In line with this, widespread adoption of steel-based frames, wall panels and hot-rolled frameworks is also contributing to the market growth. They offer enhanced structural integrity, design flexibility, security and fire resistance. Additionally, the increasing utilization of lean manufacturing techniques and technologically advanced equipment is also favoring the market growth.
Other factors, including increasing expenditure capacities of the consumers, along with the implementation of favorable government policies promoting infrastructural development, are anticipated to drive the market toward growth.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Questions Answered in This Report:
- How has the global modular construction market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global modular construction market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the module type?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global modular construction market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1. Preface
2. Scope and Methodology
3. Executive Summary
4. Introduction
4.1 Overview
4.2 Key Industry Trends
5. Global Modular Construction Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6. Market Breakup by Type
6.1 Permanent
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Relocatable
6.2.1 Market Trends
6.2.2 Market Forecast
7. Market Breakup by Module Type
7.1 Four Sided
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Open Sided
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Partially Open Sided
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Mixed Modules and Floor Cassettes
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Modules Supported by a Primary Structure
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8. Market Breakup by Material
8.1 Steel
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Concrete
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Wood
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Plastic
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9. Market Breakup by End Use
9.1 Residential
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Commercial
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Education
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Retail
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Hospitality
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Healthcare
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast
10. Market Breakup by Region
11. SWOT Analysis
12. Value Chain Analysis
13. Porters Five Forces Analysis
14. Price Analysis
15. Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Balfour Beatty plc
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Bouygues
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 SWOT Analysis
15.3.8 Larsen & Toubro Limited
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
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