Modular Construction Market
Global Modular Construction Market Information Report, by Material (Concrete, Steel, Plastic, Wood and Other), by Construction (Permanent Modular, and Relocatable Modular), by Product (Walls, Roofs & Floor, Columns & Beams and Others), by Application (Residential, Commercial, Industrial) and By Region - Global Forecast to 2023
Global Modular Construction Market Information Report, by Material (Concrete, Steel, Plastic, Wood and Other), by Construction (Permanent Modular, and Relocatable Modular), by Product (Walls, Roofs & Floor, Columns & Beams and Others), by Application (Residential, Commercial, Industrial) and By Region - Global Forecast to 2023
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housing also provides the further boost to the market. In North America, U.S. is the largest market for<br />
the modular construction. In the past few years, the annual value of construction in U.S. had been<br />
increasing continuously. Strong development in commercial and residential structures in the U.S., is<br />
projected to fuel the demand for modular construction market in the region. Europe is another<br />
important market for the global modular construction and is projected to grow at a CAGR of 4.90%<br />
during the forecast period. Increasing up gradation of the existing infrastructure, rising environmental<br />
concerns and the growing interest in energy saving & cost benefit construction, are the factors driving<br />
the growth of the market in European region.<br />
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The market has been segmented based on material, construction, product and application. On the basis<br />
of material, concrete accounted for the largest market share of 33.70% in 2016, with a market value of<br />
USD 35.1 Million and is projected to grow at the highest CAGR of 7.19% during the forecast period. The<br />
major reason behind this huge market share is the need and requirement of concrete in the modular<br />
construction. Concrete gives the strength and stability to the modular building and is majorly used<br />
material in the modular construction. On the basis of product, roof & floors are the major part of the<br />
modular construction and is accounted for the largest market share of 41.00% in 2016, with a market<br />
value of USD 42.6 Million and is projected to grow at the highest CAGR of 6.69% during the forecast<br />
period.<br />
On the basis of application, residential accounted for the largest market share of 47.00% in 2016, with a<br />
market value of USD 48.9 Million. It is the highest growing segment in global modular construction<br />
market due to the increasing population and urbanization. There is seen a shift in the population in the<br />
urbanized areas, especially in developing nations. This transition leads to the increasing demand for<br />
homes and residential complexes. Commercial was the second-largest market in 2016, valued at USD<br />
38.5 Million in 2016. Governments are now focusing to develop better infrastructure (heavy civil works<br />
such as rail, road, dams, irrigation canals, etc.) for a greater nation and betterment of the public. These<br />
collective factors are leading to the growth of the market.<br />
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1682<br />
Segmentation: Global <strong>Modular</strong> <strong>Construction</strong> <strong>Market</strong>:<br />
‣ ACS Group (Spain),<br />
‣ Skanska AB (Sweden),<br />
‣ Komatsu Ltd (Japan)<br />
‣ L&T (India)<br />
‣ Balfour Beatty Plc. (U.K.)<br />
‣ Kiewit Corporation (U.S.)<br />
‣ Taisei Corporation (Japan)<br />
‣ Red Sea Housing Services (Saudi Arabia)
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