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The global modular construction market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global modular construction market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type, module type, material and end use.
Breakup by Type:
Breakup by Module Type:
Breakup by Material:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Algeco, Balfour Beatty plc, Bouygues, Etex Group, Guerdon LLC, KLEUSBERG GmbH & Co KG, Laing O'Rourke, Larsen & Toubro Limited, Lendlease Corporation, Red Sea International, Skanska AB and Taisei Corporation.
|Base Year of the Analysis||2020|
|Segment Coverage||Type, Module Type, Material, End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Algeco, Balfour Beatty plc, Bouygues, Etex Group, Guerdon LLC, KLEUSBERG GmbH & Co KG, Laing O'Rourke, Larsen & Toubro Limited, Lendlease Corporation, Red Sea International, Skanska AB and Taisei Corporation.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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