The Asia Pacific Modular Construction Market would witness market growth of 8.3% CAGR during the forecast period (2023-2030).
The modular construction approach ensures high quality and consistency in the final product. Modules are fabricated in factory-controlled environments where stringent quality control measures can be implemented. This consistency in construction standards results in buildings that meet or exceed regulatory requirements and industry standards. Modular construction offers unparalleled flexibility in design and application. Modular units can be customized to meet diverse architectural and functional requirements, from residential housing to commercial and industrial structures. The adaptability of modular construction allows for easy reconfiguration, expansion, and repurposing, providing a dynamic solution that can evolve with changing needs over time.
Modular construction has gained popularity in the residential sector for its efficiency and cost-effectiveness. From single-family homes to multi-unit housing developments, modular construction allows for the rapid assembly of residential structures without compromising quality. Developers seeking to address housing shortages or deliver projects within tight timelines often use modular construction to meet these challenges. The commercial sector has embraced modular construction to deliver office spaces, retail establishments, and other commercial structures quickly and precisely. The modular approach accommodates the need for flexible and customizable spaces, catering to the evolving requirements of businesses in a dynamic market environment.
Rapid urbanization in many Asia-Pacific countries has increased energy consumption and environmental degradation. As a response, there's a focus on incorporating green building principles in urban development to mitigate environmental impacts and create more sustainable cities. Supportive government schemes like the Pradhan Mantri Awas Yojana (PMAY) encourage the use of innovative construction technologies, including modular methods, to achieve its ambitious housing goals. Thus, rising awareness and various innovative building initiatives in the Asia Pacific are expected to boost the growth in the regional market.
The China region dominated the Asia Pacific Modular Construction Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,986.3 million by 2030. The Japan region is registering a CAGR of 7.6% during (2023 - 2030). Additionally, The India region would showcase a CAGR of 8.9% during (2023 - 2030).
Based on Product, the market is segmented into Permanent, and Relocatable. Based on Material, the market is segmented into Steel, Wood, Concrete, and Others. Based on Application, the market is segmented into Residential, Commercial, Industrial, Healthcare, and Educational. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sekisui House, Ltd., LAING O'ROURKE, Red Sea International Company, Skanska Group AB, Premier Modular Limited, KLEUSBERG GmbH & Co. KG, Wernick Group, Lendlease Corporation Limited, Hickory Group and Guerdon, LLC.
The modular construction approach ensures high quality and consistency in the final product. Modules are fabricated in factory-controlled environments where stringent quality control measures can be implemented. This consistency in construction standards results in buildings that meet or exceed regulatory requirements and industry standards. Modular construction offers unparalleled flexibility in design and application. Modular units can be customized to meet diverse architectural and functional requirements, from residential housing to commercial and industrial structures. The adaptability of modular construction allows for easy reconfiguration, expansion, and repurposing, providing a dynamic solution that can evolve with changing needs over time.
Modular construction has gained popularity in the residential sector for its efficiency and cost-effectiveness. From single-family homes to multi-unit housing developments, modular construction allows for the rapid assembly of residential structures without compromising quality. Developers seeking to address housing shortages or deliver projects within tight timelines often use modular construction to meet these challenges. The commercial sector has embraced modular construction to deliver office spaces, retail establishments, and other commercial structures quickly and precisely. The modular approach accommodates the need for flexible and customizable spaces, catering to the evolving requirements of businesses in a dynamic market environment.
Rapid urbanization in many Asia-Pacific countries has increased energy consumption and environmental degradation. As a response, there's a focus on incorporating green building principles in urban development to mitigate environmental impacts and create more sustainable cities. Supportive government schemes like the Pradhan Mantri Awas Yojana (PMAY) encourage the use of innovative construction technologies, including modular methods, to achieve its ambitious housing goals. Thus, rising awareness and various innovative building initiatives in the Asia Pacific are expected to boost the growth in the regional market.
The China region dominated the Asia Pacific Modular Construction Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,986.3 million by 2030. The Japan region is registering a CAGR of 7.6% during (2023 - 2030). Additionally, The India region would showcase a CAGR of 8.9% during (2023 - 2030).
Based on Product, the market is segmented into Permanent, and Relocatable. Based on Material, the market is segmented into Steel, Wood, Concrete, and Others. Based on Application, the market is segmented into Residential, Commercial, Industrial, Healthcare, and Educational. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sekisui House, Ltd., LAING O'ROURKE, Red Sea International Company, Skanska Group AB, Premier Modular Limited, KLEUSBERG GmbH & Co. KG, Wernick Group, Lendlease Corporation Limited, Hickory Group and Guerdon, LLC.
Scope of the Study
Market Segments Covered in the Report:
By Product- Permanent
- Relocatable
- Steel
- Wood
- Concrete
- Others
- Residential
- Commercial
- Industrial
- Healthcare
- Educational
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Sekisui House, Ltd.
- LAING O'ROURKE
- Red Sea International Company
- Skanska Group AB
- Premier Modular Limited
- KLEUSBERG GmbH & Co. KG
- Wernick Group
- Lendlease Corporation Limited
- Hickory Group
- Guerdon, LLC
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Asia Pacific Modular Construction Market by Product
Chapter 6. Asia Pacific Modular Construction Market by Material
Chapter 7. Asia Pacific Modular Construction Market by Application
Chapter 8. Asia Pacific Modular Construction Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Sekisui House, Ltd.
- LAING O'ROURKE
- Red Sea International Company
- Skanska Group AB
- Premier Modular Limited
- KLEUSBERG GmbH & Co. KG
- Wernick Group
- Lendlease Corporation Limited
- Hickory Group
- Guerdon, LLC
Methodology
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