North America Modular Construction Market Report by Division (Permanent Modular Construction (PMC), Relocatable Buildings (RB)), Sector (Public, Residential, Commercial, and Others), Material (Wood, Concrete, Steel, and Others), and Country 2024-2032

North America Modular Construction Market Report by Division (Permanent Modular Construction (PMC), Relocatable Buildings (RB)), Sector (Public, Residential, Commercial, and Others), Material (Wood, Concrete, Steel, and Others), and Country 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A2744
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Market Overview:

The North America modular construction market size reached US$ 27.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 42.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 27.3 Billion
Market Forecast in 2032
US$ 42.2 Billion
Market Growth Rate 2024-2032 4.8%


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.

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 at the regional and country level from 2024-2032. Our report has categorized the market based on division, sector and material.

Breakup by Division:

North America Modular Construction Market

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

Breakup by Sector:

  • Public
  • Residential
  • Commercial
  • Others
     

Breakup by Material:

  • Wood
  • Concrete
  • Steel
  • Others
     

Breakup by Country:

North America Modular Construction Market 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Division, Sector, Material, Country
Countries Covered United States, Canada
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
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)

Key Questions Answered in This Report

The North America modular construction market was valued at US$ 27.3 Billion in 2023.

We expect the North America modular construction market to exhibit a CAGR of 4.8% during 2024-2032.

The rising consumer environmental consciousness, along with the increasing demand for time and cost-effective construction solutions, such as modular construction, is primarily driving the North America modular construction market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several North American nations, resulting in a temporary halt in numerous construction activities, thereby negatively impacting the North American market for modular construction.

Based on the division, the North America modular construction market can be categorized into Permanent Modular Construction (PMC) and Relocatable Buildings (RB). Currently, Permanent Modular Construction (PMC) accounts for the majority of the total market share.

Based on the sector, the North America modular construction market has been segregated into public, residential, commercial, and others. Among these, the residential sector holds the largest market share.

Based on the material, the North America modular construction market can be bifurcated into wood, concrete, steel, and others. Currently, wood exhibits a clear dominance in the market.

On a regional level, the market has been classified into United States and Canada, where United States currently dominates the North America modular construction market.

Some of the major players in the North America modular construction market include 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.

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North America Modular Construction Market Report by Division (Permanent Modular Construction (PMC), Relocatable Buildings (RB)), Sector (Public, Residential, Commercial, and Others), Material (Wood, Concrete, Steel, and Others), and Country 2024-2032
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