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Modular Construction Market by Type, Material, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 220 Pages
  • February 2023
  • Region: Global
  • Allied Market Research
  • ID: 5781714
The modular construction market was valued at $131.6 billion in 2021 and is projected to reach $234.6 billion by 2031, registering a CAGR of 6.1% from 2022 to 2031. Modular construction is a process in which modules are prefabricated and engineered, which are then generated at offsite and then assembled and shifted on site for construction purpose. Modular construction is best suitable for applications such as mobile offices, cafes, mobile homes, power plant, and restrooms. It includes materials such as steel, wood, concrete, and many others. It uses galvanizes steel material, which has features such as rigid, robust, and long durability, thereby driving the growth of the modular construction market.

Surge in population and matured urbanization in developing countries, such as India, Brazil, and others, increase the need for new residential and commercial construction. In addition, factors, such as time required for construction and upsurge in demand for new construction and modularized construction, drive the growth of the modular construction market.

However, lack of reliability on modular construction in earthquake prone regions and dearth of skilled labor and infrastructure in developing countries are anticipated to restrict for growth of the modular construction market.

However, construction, manufacturing, hotel, and tourism industries were majorly affected, during the outbreak of the COVID-19 pandemic. Manufacturing activities were halted or restricted. This led to decline in manufacturing of various equipment as well as their demand in the market, thereby restraining the growth of the market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of companies at their full-scale capacities, that helped the market to recover by end of 2021.

On the contrary, increase in investment in infrastructural activities is anticipated to provide lucrative opportunities for the growth of the modular construction market.

The modular construction market is segmented on the basis of type, material, end user and region. On the basis of type, the market is bifurcated into permanent and relocatable. The permanent segment dominated the market in 2021. On the basis of material, the market is classified into steel, wood, concrete, and others. The steel segment generated the highest revenue in 2021. On the basis of end user, the market is divided into residential, commercial, and industrial. The residential segment generated the highest revenue in 2021. By region, the modular construction market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).North America was the highest contributor to the global modular construction market share in 2021, and LAMEA is anticipated to secure a leading position during the forecast period.

Competition Analysis

Key companies profiled in the modular construction market report include ATCO, Anderco Pte. Ltd, Giant Containers Inc, Bechtel Corporation, Lendlease Corporation, SG Blocks Inc, Skanska AB, Speed House Group of Companies, Supertech Industries LLC, Fluor Corporation, and Modulaire Group.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the modular construction market analysis from 2021 to 2031 to identify the prevailing modular construction market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the modular construction market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global modular construction market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

  • Permanent
  • Re-locatable

By Material

  • Steel
  • Wood
  • Concrete
  • Others

By End User

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • Skanska AB
  • Supertech Industries
  • Tempohousing
  • Giant Containers Inc.
  • SG Blocks, Inc.
  • Honomobo Corporation
  • Bechtel Corporation
  • ATCO Ltd.
  • Lendlease Corporation
  • Speed House Group of Companies
Frequently Asked Questions about the Modular Construction Market

What is the estimated value of the Modular Construction Market?

The Modular Construction Market was estimated to be valued at $131.6 billion in 2021.

What is the growth rate of the Modular Construction Market?

The growth rate of the Modular Construction Market is 6.0%, with an estimated value of $234.6 billion by 2031.

What is the forecasted size of the Modular Construction Market?

The Modular Construction Market is estimated to be worth $234.6 billion by 2031.

Who are the key companies in the Modular Construction Market?

Key companies in the Modular Construction Market include Skanska AB, Supertech Industries, Tempohousing, Giant Containers Inc., SG Blocks, Inc., Honomobo Corporation, Bechtel Corporation, ATCO Ltd., Lendlease Corporation and Speed House Group of Companies.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Intensity of rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Rise in urbanization & industrialization in developing countries
3.4.1.2. Increase in pace of construction
3.4.1.3. High efficiency of modular construction
3.4.2. Restraints
3.4.2.1. Lack of reliability on modular construction in earthquake-prone regions
3.4.2.2. Lack of skilled labor and infrastructure in developing countries
3.4.3. Opportunities
3.4.3.1. Increase in investment in infrastructure
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: MODULAR CONSTRUCTION MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Permanent
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Re-locatable
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: MODULAR CONSTRUCTION MARKET, BY MATERIAL
5.1. Overview
5.1.1. Market size and forecast
5.2. Steel
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Wood
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Concrete
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Others
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
CHAPTER 6: MODULAR CONSTRUCTION MARKET, BY END USER
6.1. Overview
6.1.1. Market size and forecast
6.2. Residential
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Commercial
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Industrial
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
CHAPTER 7: MODULAR CONSTRUCTION MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key trends and opportunities
7.2.2. Market size and forecast, by Type
7.2.3. Market size and forecast, by Material
7.2.4. Market size and forecast, by End User
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Key market trends, growth factors and opportunities
7.2.5.1.2. Market size and forecast, by Type
7.2.5.1.3. Market size and forecast, by Material
7.2.5.1.4. Market size and forecast, by End User
7.2.5.2. Canada
7.2.5.2.1. Key market trends, growth factors and opportunities
7.2.5.2.2. Market size and forecast, by Type
7.2.5.2.3. Market size and forecast, by Material
7.2.5.2.4. Market size and forecast, by End User
7.2.5.3. Mexico
7.2.5.3.1. Key market trends, growth factors and opportunities
7.2.5.3.2. Market size and forecast, by Type
7.2.5.3.3. Market size and forecast, by Material
7.2.5.3.4. Market size and forecast, by End User
7.3. Europe
7.3.1. Key trends and opportunities
7.3.2. Market size and forecast, by Type
7.3.3. Market size and forecast, by Material
7.3.4. Market size and forecast, by End User
7.3.5. Market size and forecast, by country
7.3.5.1. Germany
7.3.5.1.1. Key market trends, growth factors and opportunities
7.3.5.1.2. Market size and forecast, by Type
7.3.5.1.3. Market size and forecast, by Material
7.3.5.1.4. Market size and forecast, by End User
7.3.5.2. France
7.3.5.2.1. Key market trends, growth factors and opportunities
7.3.5.2.2. Market size and forecast, by Type
7.3.5.2.3. Market size and forecast, by Material
7.3.5.2.4. Market size and forecast, by End User
7.3.5.3. UK
7.3.5.3.1. Key market trends, growth factors and opportunities
7.3.5.3.2. Market size and forecast, by Type
7.3.5.3.3. Market size and forecast, by Material
7.3.5.3.4. Market size and forecast, by End User
7.3.5.4. Italy
7.3.5.4.1. Key market trends, growth factors and opportunities
7.3.5.4.2. Market size and forecast, by Type
7.3.5.4.3. Market size and forecast, by Material
7.3.5.4.4. Market size and forecast, by End User
7.3.5.5. Rest of Europe
7.3.5.5.1. Key market trends, growth factors and opportunities
7.3.5.5.2. Market size and forecast, by Type
7.3.5.5.3. Market size and forecast, by Material
7.3.5.5.4. Market size and forecast, by End User
7.4. Asia-Pacific
7.4.1. Key trends and opportunities
7.4.2. Market size and forecast, by Type
7.4.3. Market size and forecast, by Material
7.4.4. Market size and forecast, by End User
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Key market trends, growth factors and opportunities
7.4.5.1.2. Market size and forecast, by Type
7.4.5.1.3. Market size and forecast, by Material
7.4.5.1.4. Market size and forecast, by End User
7.4.5.2. Japan
7.4.5.2.1. Key market trends, growth factors and opportunities
7.4.5.2.2. Market size and forecast, by Type
7.4.5.2.3. Market size and forecast, by Material
7.4.5.2.4. Market size and forecast, by End User
7.4.5.3. South Korea
7.4.5.3.1. Key market trends, growth factors and opportunities
7.4.5.3.2. Market size and forecast, by Type
7.4.5.3.3. Market size and forecast, by Material
7.4.5.3.4. Market size and forecast, by End User
7.4.5.4. India
7.4.5.4.1. Key market trends, growth factors and opportunities
7.4.5.4.2. Market size and forecast, by Type
7.4.5.4.3. Market size and forecast, by Material
7.4.5.4.4. Market size and forecast, by End User
7.4.5.5. Rest of Asia-Pacific
7.4.5.5.1. Key market trends, growth factors and opportunities
7.4.5.5.2. Market size and forecast, by Type
7.4.5.5.3. Market size and forecast, by Material
7.4.5.5.4. Market size and forecast, by End User
7.5. LAMEA
7.5.1. Key trends and opportunities
7.5.2. Market size and forecast, by Type
7.5.3. Market size and forecast, by Material
7.5.4. Market size and forecast, by End User
7.5.5. Market size and forecast, by country
7.5.5.1. Latin America
7.5.5.1.1. Key market trends, growth factors and opportunities
7.5.5.1.2. Market size and forecast, by Type
7.5.5.1.3. Market size and forecast, by Material
7.5.5.1.4. Market size and forecast, by End User
7.5.5.2. Middle East
7.5.5.2.1. Key market trends, growth factors and opportunities
7.5.5.2.2. Market size and forecast, by Type
7.5.5.2.3. Market size and forecast, by Material
7.5.5.2.4. Market size and forecast, by End User
7.5.5.3. Africa
7.5.5.3.1. Key market trends, growth factors and opportunities
7.5.5.3.2. Market size and forecast, by Type
7.5.5.3.3. Market size and forecast, by Material
7.5.5.3.4. Market size and forecast, by End User
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
9.1. ATCO Ltd.
9.1.1. Company overview
9.1.2. Key Executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.2. Bechtel Corporation
9.2.1. Company overview
9.2.2. Key Executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.3. Giant Containers Inc.
9.3.1. Company overview
9.3.2. Key Executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.4. Honomobo Corporation
9.4.1. Company overview
9.4.2. Key Executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.5. Lendlease Corporation
9.5.1. Company overview
9.5.2. Key Executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. SG Blocks, Inc.
9.6.1. Company overview
9.6.2. Key Executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Business performance
9.7. Skanska AB
9.7.1. Company overview
9.7.2. Key Executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Business performance
9.8. Speed House Group of Companies
9.8.1. Company overview
9.8.2. Key Executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.9. Supertech Industries
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.10. Tempohousing
9.10.1. Company overview
9.10.2. Key Executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
List of Tables
TABLE 01. GLOBAL MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 02. MODULAR CONSTRUCTION MARKET FOR PERMANENT, BY REGION, 2021-2031 ($MILLION)
TABLE 03. MODULAR CONSTRUCTION MARKET FOR RE-LOCATABLE, BY REGION, 2021-2031 ($MILLION)
TABLE 04. GLOBAL MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 05. MODULAR CONSTRUCTION MARKET FOR STEEL, BY REGION, 2021-2031 ($MILLION)
TABLE 06. MODULAR CONSTRUCTION MARKET FOR WOOD, BY REGION, 2021-2031 ($MILLION)
TABLE 07. MODULAR CONSTRUCTION MARKET FOR CONCRETE, BY REGION, 2021-2031 ($MILLION)
TABLE 08. MODULAR CONSTRUCTION MARKET FOR OTHERS, BY REGION, 2021-2031 ($MILLION)
TABLE 09. GLOBAL MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 10. MODULAR CONSTRUCTION MARKET FOR RESIDENTIAL, BY REGION, 2021-2031 ($MILLION)
TABLE 11. MODULAR CONSTRUCTION MARKET FOR COMMERCIAL, BY REGION, 2021-2031 ($MILLION)
TABLE 12. MODULAR CONSTRUCTION MARKET FOR INDUSTRIAL, BY REGION, 2021-2031 ($MILLION)
TABLE 13. MODULAR CONSTRUCTION MARKET, BY REGION, 2021-2031 ($MILLION)
TABLE 14. NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 15. NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 16. NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 17. NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 18. U.S. MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 19. U.S. MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 20. U.S. MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 21. CANADA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 22. CANADA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 23. CANADA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 24. MEXICO MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 25. MEXICO MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 26. MEXICO MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 27. EUROPE MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 28. EUROPE MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 29. EUROPE MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 30. EUROPE MODULAR CONSTRUCTION MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 31. GERMANY MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 32. GERMANY MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 33. GERMANY MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 34. FRANCE MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 35. FRANCE MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 36. FRANCE MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 37. UK MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 38. UK MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 39. UK MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 40. ITALY MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 41. ITALY MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 42. ITALY MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 43. REST OF EUROPE MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 44. REST OF EUROPE MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 45. REST OF EUROPE MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 46. ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 47. ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 48. ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 49. ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 50. CHINA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 51. CHINA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 52. CHINA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 53. JAPAN MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 54. JAPAN MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 55. JAPAN MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 56. SOUTH KOREA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 57. SOUTH KOREA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 58. SOUTH KOREA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 59. INDIA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 60. INDIA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 61. INDIA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 62. REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 63. REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 64. REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 65. LAMEA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 66. LAMEA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 67. LAMEA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 68. LAMEA MODULAR CONSTRUCTION MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 69. LATIN AMERICA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 70. LATIN AMERICA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 71. LATIN AMERICA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 72. MIDDLE EAST MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 73. MIDDLE EAST MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 74. MIDDLE EAST MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 75. AFRICA MODULAR CONSTRUCTION MARKET, BY TYPE, 2021-2031 ($MILLION)
TABLE 76. AFRICA MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021-2031 ($MILLION)
TABLE 77. AFRICA MODULAR CONSTRUCTION MARKET, BY END USER, 2021-2031 ($MILLION)
TABLE 78. ATCO LTD.: KEY EXECUTIVES
TABLE 79. ATCO LTD.: COMPANY SNAPSHOT
TABLE 80. ATCO LTD.: PRODUCT SEGMENTS
TABLE 81. ATCO LTD.: PRODUCT PORTFOLIO
TABLE 82. BECHTEL CORPORATION: KEY EXECUTIVES
TABLE 83. BECHTEL CORPORATION: COMPANY SNAPSHOT
TABLE 84. BECHTEL CORPORATION: PRODUCT SEGMENTS
TABLE 85. BECHTEL CORPORATION: PRODUCT PORTFOLIO
TABLE 86. GIANT CONTAINERS INC.: KEY EXECUTIVES
TABLE 87. GIANT CONTAINERS INC.: COMPANY SNAPSHOT
TABLE 88. GIANT CONTAINERS INC.: SERVICE SEGMENTS
TABLE 89. GIANT CONTAINERS INC.: PRODUCT PORTFOLIO
TABLE 90. HONOMOBO CORPORATION: KEY EXECUTIVES
TABLE 91. HONOMOBO CORPORATION: COMPANY SNAPSHOT
TABLE 92. HONOMOBO CORPORATION: PRODUCT SEGMENTS
TABLE 93. HONOMOBO CORPORATION: PRODUCT PORTFOLIO
TABLE 94. LENDLEASE CORPORATION: KEY EXECUTIVES
TABLE 95. LENDLEASE CORPORATION: COMPANY SNAPSHOT
TABLE 96. LENDLEASE CORPORATION: PRODUCT SEGMENTS
TABLE 97. LENDLEASE CORPORATION: PRODUCT PORTFOLIO
TABLE 98. LENDLEASE CORPORATION: KEY STRATERGIES
TABLE 99. SG BLOCKS, INC.: KEY EXECUTIVES
TABLE 100. SG BLOCKS, INC.: COMPANY SNAPSHOT
TABLE 101. SG BLOCKS, INC.: PRODUCT SEGMENTS
TABLE 102. SG BLOCKS, INC.: PRODUCT PORTFOLIO
TABLE 103. SKANSKA AB: KEY EXECUTIVES
TABLE 104. SKANSKA AB: COMPANY SNAPSHOT
TABLE 105. SKANSKA AB: SERVICE SEGMENTS
TABLE 106. SKANSKA AB: PRODUCT PORTFOLIO
TABLE 107. SPEED HOUSE GROUP OF COMPANIES: KEY EXECUTIVES
TABLE 108. SPEED HOUSE GROUP OF COMPANIES: COMPANY SNAPSHOT
TABLE 109. SPEED HOUSE GROUP OF COMPANIES: SERVICE SEGMENTS
TABLE 110. SPEED HOUSE GROUP OF COMPANIES: PRODUCT PORTFOLIO
TABLE 111. SUPERTECH INDUSTRIES: KEY EXECUTIVES
TABLE 112. SUPERTECH INDUSTRIES: COMPANY SNAPSHOT
TABLE 113. SUPERTECH INDUSTRIES: PRODUCT SEGMENTS
TABLE 114. SUPERTECH INDUSTRIES: PRODUCT PORTFOLIO
TABLE 115. TEMPOHOUSING: KEY EXECUTIVES
TABLE 116. TEMPOHOUSING: COMPANY SNAPSHOT
TABLE 117. TEMPOHOUSING: PRODUCT SEGMENTS
TABLE 118. TEMPOHOUSING: PRODUCT PORTFOLIO
List of Figures
FIGURE 01. MODULAR CONSTRUCTION MARKET, 2021-2031
FIGURE 02. SEGMENTATION OF MODULAR CONSTRUCTION MARKET, 2021-2031
FIGURE 03. TOP INVESTMENT POCKETS IN MODULAR CONSTRUCTION MARKET (2022-2031)
FIGURE 04. LOW BARGAINING POWER OF SUPPLIERS
FIGURE 05. LOW BARGAINING POWER OF BUYERS
FIGURE 06. LOW THREAT OF SUBSTITUTES
FIGURE 07. LOW THREAT OF NEW ENTRANTS
FIGURE 08. LOW INTENSITY OF RIVALRY
FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: GLOBALMODULAR CONSTRUCTION MARKET
FIGURE 10. MODULAR CONSTRUCTION MARKET, BY TYPE, 2021 (%)
FIGURE 11. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR PERMANENT, BY COUNTRY 2021-2031 (%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR RE-LOCATABLE, BY COUNTRY 2021-2031 (%)
FIGURE 13. MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2021 (%)
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR STEEL, BY COUNTRY 2021-2031 (%)
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR WOOD, BY COUNTRY 2021-2031 (%)
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR CONCRETE, BY COUNTRY 2021-2031 (%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR OTHERS, BY COUNTRY 2021-2031 (%)
FIGURE 18. MODULAR CONSTRUCTION MARKET, BY END USER, 2021 (%)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR RESIDENTIAL, BY COUNTRY 2021-2031 (%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR COMMERCIAL, BY COUNTRY 2021-2031 (%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF MODULAR CONSTRUCTION MARKET FOR INDUSTRIAL, BY COUNTRY 2021-2031 (%)
FIGURE 22. MODULAR CONSTRUCTION MARKET BY REGION, 2021
FIGURE 23. U.S. MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 24. CANADA MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 25. MEXICO MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 26. GERMANY MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 27. FRANCE MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 28. UK MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 29. ITALY MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 30. REST OF EUROPE MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 31. CHINA MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 32. JAPAN MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 33. SOUTH KOREA MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 34. INDIA MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 35. REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 36. LATIN AMERICA MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 37. MIDDLE EAST MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 38. AFRICA MODULAR CONSTRUCTION MARKET, 2021-2031 ($MILLION)
FIGURE 39. TOP WINNING STRATEGIES, BY YEAR
FIGURE 40. TOP WINNING STRATEGIES, BY DEVELOPMENT
FIGURE 41. TOP WINNING STRATEGIES, BY COMPANY
FIGURE 42. PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 43. COMPETITIVE DASHBOARD
FIGURE 44. COMPETITIVE HEATMAP: MODULAR CONSTRUCTION MARKET
FIGURE 45. TOP PLAYER POSITIONING, 2021
FIGURE 46. ATCO LTD.: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 47. ATCO LTD.: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 48. ATCO LTD.: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 49. BECHTEL CORPORATION: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 50. LENDLEASE CORPORATION: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 51. LENDLEASE CORPORATION: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 52. LENDLEASE CORPORATION: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 53. SG BLOCKS, INC.: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 54. SG BLOCKS, INC.: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 55. SKANSKA AB: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 56. SKANSKA AB: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 57. SKANSKA AB: REVENUE SHARE BY REGION, 2021 (%)

Executive Summary

The Modular Construction Market is likely to experience a significant growth rate of 6.1% from 2022-2031 owing to increasing market demand from Residential Construction sector.

Modular construction is a process in which an off-site construction of a building is completed, using the same design, standards, and materials. The construction of the buildings is done in a modules format, which is then put together on site. The modular construction creates fewer site disturbances and generates less waste as compared to traditional construction. In addition, the disassembling of modular buildings can be achieved easily, and can be refurbished and relocated for new modular homes, thus minimizing the demand for raw materials and the need for energy to construct new buildings.

Modular construction is utilized for permanent or temporary facilities such as military housing, classrooms, classrooms, construction camps, and industrial facilities. Moreover, modular houses and buildings are used in remote areas where conventional construction is not possible. Furthermore, modular construction finds its major application in healthcare facilities, churches, fast food restaurants, and commercial offices. In addition, it is gaining increased popularity, owing to its benefits such as ability to serve remote locations, low waste generation, environmentally friendly construction process, enhanced flexibility, high quality, and increased market acceptance.

The growth of the global modular construction market is driven by increase in urbanization & industrialization in developing countries. In addition, upsurge in population is anticipated to have a significant impact on the growth of the market to cater to the increasing needs of consumers. Furthermore, rise in demand for jobs, housing, energy, clean water, food, transportation infrastructure, and social services leads to higher adoption of cost-effective modular construction technologies to ensure uniform quality.

In addition, surge in population and matured urbanization in developing countries, such as India, Brazil, and others, increase the need for new residential and commercial construction. In addition, factors, such as time required for construction and upsurge in demand for new construction and modularized construction, drive the growth of the modular construction market.

Benefits associated with modular construction products are easy to install, easy to transport, space constraints, and provide an aesthetic look. Modular construction used in marine transportation protects from natural calamities, such as tsunami, earthquakes, and others. In addition, the manufacturers of modular construction are focusing on business expansion and new projects as strategies to increase their market share. For instance, in October 2020, SG Blocks entered into a strategic partnership with Harrison, Walker and Harper (HWH), an engineering, contracting, and industrial services firm. Under this alliance, HWH will become an SGB preferred partner to complete site work and installation of single-family modular homes. Similarly, in September 2020, SGB and its subsidiary, SG Residentials, entered into a partnership with Capital Plus Financial (CPF), one of the largest Community Development Financial Institutions (CDFI) in the U.S. and a subsidiary of Crossroads Systems, Inc. With this partnership, SGB aims to provide affordable modular homes at low-to-moderate-income areas across the country and Puerto Rico.

An increase in demand for prefabricated housing units, owing to reduction in construction cost & time and government initiative toward green building concept is predicted to cater to the growth of the modular construction market. Many competitors, architects, and builders are taking advantage of used shipping containers for building homes.

However, outbreak of COVID-19 has led to halt in construction and manufacturing activities across the globe. This, in turn, hindered the growth of the modular construction market for a very small period. Conversely, different industries are gradually resuming their regular manufacturing and services with the launch of vaccines and reduction in number of COVID-19 cases. This is leading to re-initiation of companies at their full-scale capacities, that helped the market to recover by end of 2021. In addition, lack of reliability on modular construction in earthquake-prone regions considerably hampers the growth of modular construction market.

On the contrary, increase in investments in infrastructure is anticipated to offer lucrative growth opportunities for the market players during forecast period.

Rise in need for protection of architecture from environmental impacts, increase in government focus on green building concepts, and modular construction for space constraints in large cities are anticipated to drive the growth of the modular construction market. In addition, rising infrastructure spending in various countries, such as Germany, France, India, and others, surges the demand for modular construction, and thus drives the growth of the modular construction market. For instance, in Hesse region, a total of 6,796 buildings were completed in 2020, out of which 11,640 included prefabricated homes. A rise in focus toward affordable housing structures and increase in need for modular construction, owing to features, such as quicker build, easy to relocate, and portability, are anticipated to provide lucrative growth opportunities for the modular construction market. In addition, urban population is focusing on modular construction to afford cheaper living as these containers require less cost as compared to traditional container houses. In 2020, the U.S. government's housing program funded around $10 million to build modular construction buildings. In addition, scarcity of housing units in developing economies, such as Africa and India, is expected to provide lucrative opportunities for the growth of the modular construction market during the forecast period.

Moreover, developed countries, such as the U.S., Japan, the UK, and others, had implemented initiatives that focus on building, designing, and installing green building concept. This modular construction has features, such as cost-effective and energy-effective prefabricated products, for construction, which, in turn, drive the growth of the modular construction market. Factors, such as reduced cost and time required for modular construction and rise in demand for prefabricated products for residential and commercial construction activities, drive the growth of the modular construction market.

In addition, increase in urban population and industrialization in developed countries, such as the U.S., Japan, France, and Canada, surges the demand for modular construction, owing to features such as space issues, movability, and easy of transport. Modular construction is compact and easy to move from one place to other, which drives the growth of the modular construction market. However, modular or prefabrication products need to install heating ventilation and air conditioning systems in extreme cold and hot regions, which is anticipated to hamper the growth of the market. Conversely, upsurge in demand for new construction and increase in focus toward affordable housing structures are anticipated to provide lucrative opportunities for the growth of the modular construction market..

The modular construction market is segmented on the basis of type, material, end user and region. On the basis of type, the market is bifurcated into permanent and relocatable. On the basis of material, the market is classified into steel, wood, concrete, and others. On the basis of end user, the market is divided into residential, commercial, and industrial. On the basis of region, the modular construction market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)
COMPETITION ANALYSIS
The major players profiled in the modular construction market report included are ATCO, Anderco Pte. Ltd, Giant Containers Inc, Bechtel Corporation, Lendlease Corporation, SG Blocks Inc, Skanska AB, Speed House Group of Companies, Supertech Industries LLC, Fluor Corporation, and Modulaire Group.

Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the modular construction market.

Key Market Insights

  • By type, the permanent segment was the highest revenue contributor to the market and is estimated to reach $158.6 billion by 2031, with a CAGR of 5.7%. However, the re-locatable segment is estimated to be the fastest-growing segment with a CAGR of 7.0% during the forecast period.
  • By material, the steel segment dominated the global market. However, the concrete segment is expected to be the fastest-growing segment with a CAGR of 10.6% during the forecast period.
  • Based on end user the residential segment was the highest revenue contributor to the market with a CAGR of 5.3% during the forecast period.
  • Based on region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 7.4% during the forecast period

Companies Mentioned

  • Skanska AB
  • Supertech Industries
  • Tempohousing
  • Giant Containers Inc.
  • SG Blocks, Inc.
  • Honomobo Corporation
  • Bechtel Corporation
  • ATCO Ltd.
  • Lendlease Corporation
  • Speed House Group of Companies

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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