Modular Construction Market Size, Outlook, Competitive Landscape and Segment Forecasts 2023-2032

 The industry is expanding due to government policies and initiatives that support modular construction, particularly in industrialised nations like the US and Europe.

The global Modular Construction Market size was USD 91 Billion in 2022 and is expected to reach a value of USD 153.74 Billion in 2032 and register a revenue CAGR of 6% during the forecast period. Global need for affordable and sustainable housing solutions is the main factor fueling the market's expansion. The use of modular construction techniques is a result of the necessity for speed and economy in construction projects as well as the lack of competent labour in the sector.

The market for modular construction is also fueled by the growing need for environmentally and energy-conscious structures. Utilizing recycled and sustainable materials is possible with modular construction methods, which lowers the construction sector's carbon footprint. Due to rising concern over environmental sustainability and the popularity of Green Building certifications like LEED and BREEAM, the market for green modular buildings is anticipated to expand quickly over the course of the forecast period.

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Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market. 

Major Companies:

  • Skanska AB
  • Laing O'Rourke
  • Red Sea Housing Services
  • CIMC Modular Building Systems Holdings Co., Ltd.
  • KEF Infra
  • Algeco
  • Guerdon Enterprises LLC
  • Bouygues Construction
  • Katerra Inc.
  • ACS Group

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Modular Construction Market Segmentation:

Type Outlook:

·         Permanent

·         Relocatable

Application Outlook:

  • Residential
  • Commercial
  • Industrial

 Regional Outlook:

·         North America (U.S., Canada, Mexico)

·         Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)

·         Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)

·         Latin America (Brazil, Rest of LATAM)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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