According to the latest report by IMARC Group, titled “Modular Construction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global modular construction market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Modular construction refers to the offsite manufacturing of engineered buildings using standard materials and codes of construction. It occurs simultaneously with site work, allowing projects to be completed in half the time of traditional construction.
The global modular construction market is primarily driven by the rising construction activities worldwide. Besides this, with the improved standards of living and inflating incomes, architects and constructors nowadays prefer offsite construction to improve visual aesthetics and enhance structural integrity, design flexibility, security and fire resistance. Furthermore, with the rising environmental concerns, constructors are rapidly opting for permanent modular constructions (PMC) for developing sustainable commercial, industrial and residential complexes. Modular construction is a cost-efficient option that reduces the demand for raw materials and minimizes the amount of energy expended as it is disassembled, and the modules are relocated or refurbished for new use. Moreover, the advancements in manufacturing techniques and technologically advanced equipment are expected to positively impact the market in the coming years.
Modular Construction Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global modular construction market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Balfour Beatty plc
KLEUSBERG GmbH & Co KG
Larsen & Toubro Limited
Red Sea International
Key Market Segmentation:
The report has segmented the global modular construction market on the basis of type, module type material, end use and region.
Breakup by Type:
Breakup by Module Type:
Partially Open Sided
Mixed Modules and Floor Cassettes
Modules Supported by a Primary Structure
Breakup by Material:
Breakup by End Use:
Breakup by Region:
Middle East and Africa
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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