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North America Modular Construction Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The North America modular construction market exhibited double digit growth rates during 2014-2019. Modular construction includes off-site prefabrication of single or multi-storey structures before being installed on the main construction site. It includes the construction of various components, such as ceilings, doors, walls, floors, beams, columns, etc., that are joined together to make a single structure by deploying cranes and other lifting or rigging tools. Modular construction offers easy relocation or expansion, improved quality control, reduced construction time, better design options, and minimized waste production. In North America, modular construction is increasingly being adopted as a sustainable and eco-friendly alternative to traditional construction methods.

The increasing demand for prefabricated building structures along with growing focus on reducing overall construction cost and time is primarily driving the market for modular construction in North America. Furthermore, the rising number of infrastructure projects, including healthcare facilities, corporate buildings, modern housing centers, educational institutes, etc., is also propelling the market growth. Additionally, the rising environmental concerns towards increasing level of carbon emissions from conventional construction methods are further driving the demand for modular construction in the region. The introduction of numerous government initiatives for promoting the construction of green buildings across the United States and Canada, is also catalyzing the market. Moreover, the high prevalence of extreme cold weather in the region leading to shorter daytime and heavy snowfall that inhibit on-site construction methods is also propelling the need for modular construction. Moreover, the growing integration of numerous advanced technologies with prefabrication methods, such as 3D printing, artificial intelligence, Building Information Modeling (BIM) etc., are expected to further drive the market for modular construction in North America.

The outbreak of the COVID-19 pandemic, in early 2020, however, has negatively impacted the market for modular construction in North America. The introduction of stay-at-home measures across the region has led to the postponement of numerous construction activities, disrupted supply chains, and led to the  temporary closure of facilities, thereby hampering the market growth. The market, however, is expected to revive from 2021 onwards and exhibit continuous growth during 2021-2025.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the North America modular construction market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, division, industry and material.

Breakup by Division:

  • Permanent Modular Construction (PMC)
  • Relocatable Buildings (RB)
     

Breakup by Industry:

  • Public
  • Residential
  • Commercial
  • Others
     

Breakup by Material:

  • Wood
  • Concrete
  • Steel
  • Others
     

Breakup by Country:

  • United States
  • Canada
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Aries Building Systems, LLC, ATCO Ltd., Boxx Modular, Inc. (Black Diamond Group), Mobile Modular Management Corporation (McGrath RentCorp, Inc.), Modular Genius, Inc.,  Satellite Shelters, Inc., Triumph Modular Corporation,  Vanguard Modular Building Systems, LLC, Vesta Modular, and Willscot Corporation.

Key Questions Answered in This Report:

  • How has the North America 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 North America modular construction market?
  • What is the breakup of the market based on the division?
  • What is the breakup of the market based on the industry?
  • What is the breakup of the market based on the material?
  • What is the breakup of the market based on the country?
  • 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 North America modular construction market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    North America 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 Division
    6.1    Permanent Modular Construction (PMC)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Relocatable Buildings (RB)
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Industry
    7.1    Public
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Residential
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Commercial
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Material
    8.1    Wood
        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    Steel
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Country
    9.1    United States 
            9.1.1    Market Trends
    9.1.2    Market Breakup by Division
    9.1.3    Market Breakup by Industry
    9.1.4    Market Breakup by Material
    9.1.5    Market Forecast
    9.2    Canada 
            9.2.1    Market Trends
    9.2.2    Market Breakup by Division
    9.2.3    Market Breakup by Industry
    9.2.4    Market Breakup by Material
    9.2.5    Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
            14.3.1    Aries Building Systems, LLC
                14.3.1.1 Company Overview
                14.3.1.2 Product Portfolio 
            14.3.2    ATCO Ltd.
                14.3.2.1 Company Overview
                14.3.2.2 Product Portfolio 
                14.3.2.3 Financials
                14.3.2.4 SWOT Analysis
            14.3.3    Boxx Modular, Inc. (Black Diamond Group Limited)
               14.3.3.1 Company Overview
               14.3.3.2 Product Portfolio 
            14.3.4    Mobile Modular Management Corporation (McGrath RentCorp, Inc.)                                            
                14.3.4.1 Company Overview
                14.3.4.2 Product Portfolio 
            14.3.5    Modular Genius, Inc.
                14.3.5.1 Company Overview
                14.3.5.2 Product Portfolio 
            14.3.6    Satellite Shelters, Inc.
                14.3.6.1 Company Overview
                14.3.6.2 Product Portfolio 
            14.3.7    Triumph Modular Corporation 
               14.3.7.1 Company Overview
               14.3.7.2 Product Portfolio 
            14.3.8    Vanguard Modular Building Systems, LLC
               14.3.8.1 Company Overview
               14.3.8.2 Product Portfolio 
            14.3.9    Vesta Modular
               14.3.9.1 Company Overview
               14.3.9.2 Product Portfolio 
           14.3.10    WillScot Corporation
               14.3.10.1 Company Overview
               14.3.10.2 Product Portfolio
               14.3.10.3 Financials 

List of Figures

Figure 1: North America: Modular Construction Market: Major Drivers and Challenges
Figure 2: North America: Modular Construction Market: Sales Value (in Billion US$), 2014-2019
Figure 3: North America: Modular Construction Market: Breakup by Division (in %), 2019
Figure 4: North America: Modular Construction Market: Breakup by Industry (in %), 2019
Figure 5: North America: Modular Construction Market: Breakup by Material (in %), 2019
Figure 6: North America: Modular Construction Market: Breakup by Country (in %), 2019
Figure 7: North America: Modular Construction Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 8: North America: Modular Construction (Permanent Modular Construction) Market: Sales Value (in Million US$), 2014 & 2019
Figure 9: North America: Modular Construction (Permanent Modular Construction) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 10: North America: Modular Construction (Relocatable Buildings) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: North America: Modular Construction (Relocatable Buildings) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: North America: Modular Construction (Public) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: North America: Modular Construction (Public) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: North America: Modular Construction (Residential) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: North America: Modular Construction (Residential) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: North America: Modular Construction (Commercial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: North America: Modular Construction (Commercial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: North America: Modular Construction (Others) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: North America: Modular Construction (Others) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: North America: Modular Construction (Wood) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: North America: Modular Construction (Wood) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: North America: Modular Construction (Concrete) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: North America: Modular Construction (Concrete) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: North America: Modular Construction (Steel) Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: North America: Modular Construction (Steel) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: North America: Modular Construction (Others) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: North America: Modular Construction (Others) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: United States: Modular Construction Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: United States: Modular Construction Market: Breakup by Division (in %), 2019
Figure 30: United States: Modular Construction Market: Breakup by Industry (in %), 2019
Figure 31: United States: Modular Construction Market: Breakup by Material (in %), 2019
Figure 32: United States: Modular Construction Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 33: Canada: Modular Construction Market: Sales Value (in Million US$), 2014 & 2019
Figure 34: Canada: Modular Construction Market: Breakup by Division (in %), 2019
Figure 35: Canada: Modular Construction Market: Breakup by Industry (in %), 2019
Figure 36: Canada: Modular Construction Market: Breakup by Material (in %), 2019
Figure 37: Canada: Modular Construction Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: North America: Modular Construction Industry: SWOT Analysis
Figure 39: North America: Modular Construction Industry: Value Chain Analysis
Figure 40: North America: Modular Construction Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: North America: Modular Construction Market: Key Industry Highlights, 2019 and 2024
Table 2: North America: Modular Construction Market Forecast: Breakup by Division (in Million US$), 2020-2025
Table 3: North America: Modular Construction Market Forecast: Breakup by Industry (in Million US$), 2020-2025
Table 4: North America: Modular Construction Market Forecast: Breakup by Material (in Million US$), 2020-2025
Table 5: North America: Modular Construction Market Forecast: Breakup by Country (in Million US$), 2020-2025
Table 6: North America: Modular Construction Market: Competitive Structure
Table 7: North America: Modular Construction Market: Key Players

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