Global Modular Construction Market is valued approximately USD 121.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2020-2027. Modular construction is considered as a process in which an off-site construction of a residential or commercial building is completed through using the same standards, design and materials. The construction of the buildings is done is a modules format that is then put together on site. Modular construction benefits in reducing site disturbances & generates low amount of waste in comparison to traditional construction. Additionally, the disassembling of modular buildings could be done easily and can be refurbished & relocated for new modular homes. The global Modular construction market is primarily driven by rising construction sector, surge in infrastructure investment and industrialization, rising need for reduced construction time & cost along with favorable government initiatives towards modular construction. The rising construction sector which include both residential and commercial spaces is acting as key driver for the demand and adoption of modular construction market. According to the International Construction market survey, the rate of construction sector was estimated to be around 3.5% in the year 2018 which reached to around 3.9% in the year 2019 on the global scenario. In Canada, according to Construct connect report, the Construction sector is estimated to witness a surge of around 20% in the year 2018 in comparison to year 2017. There would be around 100,730 new construction projects in Canada comprising of both residential and non-residential buildings and civil engineering works in the year 2018. Among 100,730 new construction projects, around 41,363 construction projects would be of non-residential buildings, 26,782 would be of residential buildings and 32,585 construction projects would be of other civil engineering works in Canada. Moreover, according to constructconnect, the highest number of construction projects would occur in central Canada accounting for 52,844 projects precisely followed by British Columbia province which would account for 23,338 construction projects that is 2nd highest in Canada resulting in paving the way for the development of modular construction market. Additionally, a surge of around 3% has been witnessed in the construction sector of Europe in the year 2018 which is subsequently resulting into fueling the demand and adoption of modular construction market.

The regional analysis of global Modular Construction market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to surging infrastructure investments & industrialization along with favorable government initiatives towards modular construction. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising construction sector & urbanization along with ease of installation and relocation would create lucrative growth prospects for the Modular Construction market across Asia-Pacific region.

Major market player included in this report are:
Atco
Anderco Pte. Ltd
Giant Containers, Inc
Honomobo Corporation
Lendlease Corporation
SG Blocks, Inc
Skansha AB
Speed House Group of Companies
Supertech Industries LLC
Tempohousing

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Permanent
Re-locatable
By Material:
Steel
Wood
Others
By End-User:
Residential
Commercial
Industrial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Modular Construction Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors