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Modular Construction Market Size, Share Global Analysis Report, 2021 - 2026
Modular Construction Market By Type (Permanent Modular Construction (PMC) & Relocatable Modular Construction (RMC)), By Application (Commercial, Healthcare, Education & Institution, Hospitability, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026
Industry Insights
[189+ Pages Report] The latest finding surrounding the Global Modular Construction Market published by Facts & Factors mentions a neatly packaged and comprehensive read. We at Facts & Factors estimate that the global modular construction market will reach a projected value of USD 107.6 Billion by 2026 with a growth rate of 4.9% CAGR from an initial value of USD 81.9 Billion in the year 2020.
Market Overview
Modular construction is the process of erecting a building that is often constructed off-site using controlled environment settings and then transported to the final location and assembled. Modular construction often ranges from incorporating a wider range of different building types and floor plans owing to the variations in the current generation of technology. Modular units are the sections where blocks of the construction are placed together in order to construct a prefabricated building or a house.
Key Insights from Primary Research
- As per the details published by our primary respondents, the Global Modular Construction market is expected to grow at a rate of 5% on an annual basis.
- Through the primary research conducted by our team, the Global Modular Construction was valued at USD 121 million in 2019.
- In terms of volume, the Global Modular Construction market had a contribution of around 1857, globally in 2019.
- On the basis of material used in the modular construction, “steel” contributes its maximum share of around 41% in 2019.
- On the basis of the type of residence preferred by the people worldwide, around 64% contributes to the permanent type of residence.
- On the basis of end-user segmentation, the “housing” category holds the leading share at around 49%, in 2019.
Key Recommendations from Analysts
- As per our analysis, Modular Construction Market is emerging as people around the globe are looking for fast options and this market proves to be among one as it takes much less time in getting ready and also saves a lot of money as it is sustainable for the environment.
- There is a hike in the demand of Steel and the demand will continue to grow in the future as it is proving to be efficient, durable, and safe from various things
- There would a great demand in the housing sector for the modular construction as more and more people will invest their money in getting their houses designed which in turn would save their time and money.
- Modular Construction Market shows a growth rate at around 7% which would provide numerous opportunities for the architects and real estate owners who are planning to invest their capital in this market.
Market Attractiveness – By End-User
Industry Growth Factors
The contributing factors for the significant growth of the global modular construction market include the rising concerns for work-zone safety measures coupled with lowering environmental impacts to name a few. Additionally, an increasing number of government-based initiatives coupled with a rising population is expected to increase the footprint of the global modular construction market during the advent of the forecast period. Moreover, rapid urbanization measures coupled with the rising number of construction projects are expected to open new revenue opportunities for the global modular construction market during the advent of the forecast period.
The global modular construction market is expected to be driven by the rising adoption of lean manufacturing techniques coupled with advanced technological factors such as permanent modular construction to name a few. Moreover, the rising infrastructure from fast-moving economies coupled with rising demand for affordable housing is expected to fuel the growth of the global modular construction market during the advent of the forecast period. However, lack of awareness among consumers coupled with volatility in the prices of raw materials is expected to hamper the growth of the global modular construction market during the advent of the forecast period.
Segmentation Analysis
The global modular construction market is segmented into type, application, and region.
Based on type, the global modular construction market is bifurcated into permanent modular construction (PMC) and relocatable modular construction (RMC). The segment pertaining to PMC is expected to witness the largest market share during the advent of the forecast owing to the ability of the latter to be retrofitted with an existing building or delivered as a turn-key solution within an effective time and cost-effective solution. On the other hand, the RMC segment will witness a higher growth share during the advent of the forecast period due to rising demand for temporary and emergency housing solutions to name a few. The global modular construction market is divided into commercial, healthcare, education & institution, hospitability, and others on the basis of application. The segment pertaining to commercial is expected to witness the largest market share during the advent of the forecast owing to the rising number of startups in developing economies coupled with increasing housing solutions for out-of-country employees to name a few. The residential category is expected to witness the fastest growing CAGR during the advent of the forecast period owing to a rapid increase in residential housing measures coupled with rapid urbanization to name a few.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 81.9 Billion |
Projected Market Size in 2026 |
USD 107.6 Billion |
CAGR Growth Rate |
4.9% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Guerdon Modular Buildings, Laing O’Rourke, ATCO, Red Sea International Company, Bouygues, VINCI Construction Grands Projects, Skanska AB, Algeco, KLEUSBERG, Katerra, Lendlease, Supertech Industries LLC, SG Blocks, Inc., Speed House Group of Companies, and Tempohousing, and Others |
Key Segments |
Types, Applications, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Purchase Options |
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Regional Analysis
Asia-Pacific is expected to witness the largest market share during the advent of the forecast period owing to rising construction activities stemming from rising demands from the commercial and residential sectors coupled with an increasing number of government initiatives to name a few. Additionally, a rising trend of eco-friendly housing coupled with increasing disposable income among consumers is further expected to increase the footprint of the modular construction market during the advent of the forecast period. The rising number of FDIs in the IT & telecommunication sector coupled with a booming automobile sector requiring huge amounts of space for functionality will push the existing boundaries of the modular construction market during the advent of the forecast period. North America will occupy a substantial market share after the latter region in terms of an increasing number of contractors integrating modular structures for building superstructures in terms of electrical, plumbing, and mechanical overview to name a few.
Competitive Players
The key market participants for the global modular construction market are
- Guerdon Modular Buildings
- Laing O’Rourke
- ATCO
- Red Sea International Company
- Bouygues
- VINCI Construction Grands Projects
- Skanska AB
- Algeco
- KLEUSBERG
- Katerra
- Lendlease
- Supertech Industries LLC
- SG Blocks Inc.
- Speed House Group of Companies
- Tempohousing
By Type Segment Analysis
- Permanent Modular Construction (PMC)
- Relocatable Modular Construction (RMC)
By Application Segment Analysis
- Commercial
- Healthcare
- Education & Institution
- Hospitability
- Others
By Regional Segment Analysis
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Table of Content
Industry Major Market Players
- Guerdon Modular Buildings
- Laing O’Rourke
- ATCO
- Red Sea International Company
- Bouygues
- VINCI Construction Grands Projects
- Skanska AB
- Algeco
- KLEUSBERG
- Katerra
- Lendlease
- Supertech Industries LLC
- SG Blocks Inc.
- Speed House Group of Companies
- Tempohousing
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