Increasing Construction Activities in Developing Economies
Rising demand for construction from Asia-Pacific can mainly be attributed to the increasing amount of government funds in Australia, and the opportunities created in India by government initiatives. Australia’s construction practices have become obsolete, and are referred to as “inefficient”. The government is planning to expand R&D in technologies, including 3D printing, artificial intelligence, robotics, and automation. This increased R&D will likely enable construction of metropolitan cities with greater efficiency and lesser cost, besides being considerate of environmental impact. In July 2017, Perth-based Company, Fastbrick Robotics, signed a deal with the construction equipment manufacturer, Caterpillar, to develop The Hadrian X, a digital construction system that manufactures houses at cheap and affordable prices. In India, the government plans to build 50 million homes and more than 90 smart cities by 2022. The Indian market is in its nascent stage, and these government plans are providing opportunities for offsite construction and pre-fabricated modular units. Certain cities, like Bengaluru, have included modular construction in the residential and industrial sectors.
Office Construction to Dominate the Modular Construction Market
Modular blocks play a wide role in the construction of offices and related cabins. Modular construction technology is used to build office cabins, kitchens, conference rooms, lobbies, restrooms, and also open spaces for partition systems. Almost 40% of the low-rise offices across the globe are constructed through modular blocks. This helps the companies to save a lot of time and money, which are crucial factors in any business. The increasing young age population (20-30 yrs) primarily in developing nations and urbanization in many countries are some of the key factors are boosting the demand for new offices. This scenario, in turn, is boosting the demand for modular construction.
Significant Rate of Growth in United States
Modular construction of the United States is expected to increase at a moderate pace, mainly because of opportunities created by government schemes and acquisitions by companies. According to the United States Census 2016, a small number of houses are modularly constructed. Annually, only 2% of new single family homes is constructed through modular means. Modular construction is seen as an efficient solution for mass home production. Modular construction is currently used as a solution to non-conventional housing needs. Companies are showing an active interest in understanding the US market, and in making significant capital investment. Sekisui House, a Japanese modular construction firm, has recently purchased the Salt Lake City-based homebuilder, Woodside Homes.
Key Developments in the Market
2017: Marriot International announced that it is constructing new hotels through modular construction process and is considered to be one of the largest projects in hotel modular construction
Major Players: Komatsu Ltd, Kiewit Corporation, Balfour Beatty Plc, ACS Actividades de Construcción y Servicios S.A, and DuBox; among others
Reasons to Purchase the Report
- Current and future of modular construction market in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Demand from Construction Activities in Developing Countries
4.1.2 Increasing demand from Earthquake prone areas, like Japan, Mexico, etc.
4.1.3 Time & Cost-effective Method of Construction
4.2.1 Increased Transportation Logistics Requirements
4.2.2 Other Restraints
4.3.1 Room for New Entrants Due to Less Competition in the Market
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Construction
5.1.1 Permanent Modular
5.1.2 Relocatable Modular
5.2 By Material
5.3 By End-user Industry
5.3.1 Office & Industrial
5.3.3 Health Care
6. Regional Market Analysis (Market Size, Growth and Forecast)
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.5 Rest of Europe
6.4 South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 ACS Actividades de Construcción y Servicios S.A.
8.2 Balfour Beatty Plc
8.3 Bouygues Construction
8.4 Byrne Modular Buildings Co. LLC
8.6 Guerdon Modular Buildings
8.7 JL Modular, Inc.
8.8 Julius Berger Nigeria Plc
8.9 KEF Infra
8.10 Kiewit Corporation
8.11 Komatsu Ltd.
8.12 Laing O’Rourke
8.13 Modcon Group
8.14 Palomar Modular Buildings
8.15 Red Sea Housing Services
8.16 Skanska AB Larsen & Toubro Limited
8.18 System House R & C Co. Ltd
8.19 Taisei Corporation
*List Not Exhaustive
**Subject to Availability on Public Domain
- ACS Actividades de Construcción y Servicios S.A.
- Balfour Beatty Plc
- Bouygues Construction
- Byrne Modular Buildings Co. LLC
- Guerdon Modular Buildings
- JL Modular Inc.
- Julius Berger Nigeria Plc
- KEF Infra
- Kiewit Corporation
- Komatsu Ltd.
- Laing O’Rourke
- Modcon Group
- Palomar Modular Buildings
- Red Sea Housing Services S.Anska AB Larsen & Toubro Limited S.Acemaker
- System House R & C Co. Ltd.
- Taisei Corporation,