Exclusive special offer and discount title banner vector image

ASIA-PACIFIC MODULAR CONSTRUCTION MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Asia-Pacific Modular Construction Market by Construction (Permanent Modular Construction, Relocatable Modular Construction) Market by Material (Steel, Concrete, Wood, Plastic) Market by Application (Commercial, Industrial/Institutional, Residential) by Geography


MARKET OVERVIEW

The Asia-Pacific modular construction market is anticipated to reach $58.18 billion by 2032, propelling at a 7.08% CAGR during the estimation period 2023-2032.

Modular construction remains a cost-effective, timely solution to meet diverse industry needs in Asia-Pacific. The surging player count and R&D investment in Asia-Pacific’s prefab sector have diversified options for deluxe residential and high-end commercial projects. India’s ‘Assemble Rather Than Build’ approach is poised to revolutionize infrastructure development, particularly for hospitals, hotels, and homes. Increasing investment and strategic public-private partnerships in the residential and commercial arenas are anticipated to bolster the construction sector across the region.

Asia-Pacific-Modular-Construction-Market

To Know More About This Report, Request a Free Sample Copy

The Asia-Pacific modular construction market growth analysis includes the evaluation of Japan, Australia & New Zealand, Indonesia, India, South Korea, Thailand, China, Vietnam, and Rest of Asia-Pacific. China remains a key player in the Asia-Pacific region, with robust construction activities fueled by economic growth. According to government reports, the Chinese construction sector expanded by 6.1% in 2020-2021, launching ambitious plans to relocate 250 million people to megacities over the next decade. 

Furthermore, China’s residential property sector is witnessing remarkable growth in sales and investments. However, the urban housing sector’s growth is slowing, with 22% of housing stock empty as of late 2019, contributing to a predicted construction decline and tax increase. Modular construction demand is expected to flourish despite these challenges, influenced by these diverse factors.

Japan’s construction sector, propelled by increased investments and household spending, is poised for moderate expansion over the next five years, despite a temporary slowdown due to the 2020 Olympic and Paralympic Games. Increasing tourism, city redevelopment, and government investment in reconstruction after natural disasters are projected to boost commercial construction, driving demand for modular construction methods in the densely populated, geographically unique nation.

The Asia-Pacific modular construction market segmentation includes the assessment by application, construction, and material. The market by material covers plastic, concrete, steel, and wood.

With its numerous forms and grades, structural steel is a fundamental component in the modular construction market, used extensively in building materials. Its diverse forms include H-shaped, I-shaped, and T-shaped beams, columns, and angles. These structures benefit from steel’s superior mechanical and chemical properties, such as high strength, tensile endurance, ductility, ease of fabrication, seismic resistance, and fast erection speed. Despite its weaker tensile strength, it is an effective reinforcing agent in concrete structures.

Both residential and commercial construction projects employ steel in various applications, from large permanent to temporary modular structures. Steel’s affordability, accessibility, strength, adaptability, durability, and recyclability contribute to its superior performance throughout a modular building’s life cycle.

Steel manufacturers increasingly deliver innovative building solutions that support energy-efficient and carbon-neutral construction. Commercial or industrial spaces, particularly those with large open areas, often utilize pre-engineered steel structural systems. Also, steel frames are lighter than traditional wall materials, facilitating easier lifting and moving of building structures, causing a lesser environmental disturbance and reducing costs.

Leading players in the Asia-Pacific modular construction market include Larsen & Toubro Limited, System House R&C Co Ltd, etc.

Larsen & Toubro Limited, a multinational conglomerate headquartered in Maharashtra, India, is a major player in various industries such as construction, technology, engineering, and manufacturing. L&T’s broad portfolio extends to diverse sectors, including hydrocarbon, infrastructure, power, process industries, and defense. L&T is a vital supplier to core sectors like aerospace, defense, petrochemical, oil and gas, thermal and nuclear power, fertilizer, refinery, and chemical, offering comprehensive turnkey solutions for gas and coal-based thermal power plants. The company’s manufacturing capabilities also encompass industrial valves, switchboards, equipment for welding and cutting, switchgear components, and electronic energy meter protection systems. Beyond its vast reach in India, L&T operates in numerous international markets, including Qatar, the UAE, Saudi Arabia, and Bangladesh. 

L&T’s precast concrete structures cater to airports, IT and institutional spaces, health & leisure facilities, and factories.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Construction, Material, and Application
Countries AnalyzedChina, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
Companies AnalyzedACS Actividades de Construccion y Servicios SA, Astron, Balfour Beatty PLC, Berkeley Group (Berkeley Modular), Bouygues Construction, Kleusberg GmbH & Co KG, Guerdon Modular Buildings, Jeff Luchetti Construction Inc, Julius Berger Nigeria PLC, Koma Modular, Laing O’Rourke, Larsen & Toubro Limited, Modulaire Group, Palomar Modular Buildings, Riko Hiše doo, Red Sea Housing, Skanska Group, System House R&C Co Ltd, Taisei Corporation, Wernick Group

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS
      1. MODULAR CONSTRUCTION IS MORE ECONOMICAL THAN OTHER TYPES
      2. MODULAR CONSTRUCTION INCURS TRANSPORTATION COSTS, FURTHER INFLUENCING THE PROJECT’S FEASIBILITY 
      3.  A NEW WAVE OF ATTENTION AND INVESTMENT
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. ADVANTAGES OVER TRADITIONAL CONSTRUCTION SYSTEMS
      2. URBANIZATION AND INDUSTRIALIZATION IN DEVELOPING COUNTRIES
      3. TIME AND COST-EFFECTIVE METHOD OF CONSTRUCTION
      4. LABOR SHORTAGE
      5. LOWER DEFECTS AND REWORKS
    2. KEY RESTRAINTS
      1. HIGHER COSTS AND LOGISTICAL COMPLEXITIES
      2. HIGH INITIAL COSTS FOR CONSTRUCTING MANUFACTURING FACILITIES
      3. LOW AWARENESS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
    7. REGULATORY FRAMEWORK
  5. MARKET BY CONSTRUCTION
    1. PERMANENT MODULAR CONSTRUCTION
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. RELOCATABLE MODULAR CONSTRUCTION
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY MATERIAL
    1. STEEL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. CONCRETE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. WOOD
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. PLASTIC
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY APPLICATION
    1. COMMERCIAL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. INDUSTRIAL/INSTITUTIONAL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. RESIDENTIAL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. GEOGRAPHICAL ANALYSIS
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC MODULAR CONSTRUCTION MARKET DRIVERS
      3. ASIA-PACIFIC MODULAR CONSTRUCTION MARKET CHALLENGES
      4. KEY PLAYERS IN ASIA-PACIFIC MODULAR CONSTRUCTION MARKET
      5. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        7. VIETNAM
          1. VIETNAM MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        8. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        9. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
        1. COMPANY OVERVIEW
        2. SERVICES LIST
      2. ASTRON
        1. COMPANY OVERVIEW
        2. SERVICES LIST
      3. BALFOUR BEATTY PLC
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
      4. BERKELEY GROUP (BERKELEY MODULAR)
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      5. BOUYGUES CONSTRUCTION
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      6. GUERDON MODULAR BUILDINGS
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      7. JEFF LUCHETTI CONSTRUCTION INC
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      8. JULIUS BERGER NIGERIA PLC
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      9. KLEUSBERG GMBH & CO KG
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
      10. KOMA MODULAR
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
      11. LAING O’ROURKE
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      12. LARSEN & TOUBRO LIMITED
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      13. MODULAIRE GROUP
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST
      14. PALOMAR MODULAR BUILDINGS
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      15. RIKO HIŠE DOO
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      16. RED SEA HOUSING
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      17. SKANSKA GROUP
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      18. SYSTEM HOUSE R&C CO LTD
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      19. TAISEI CORPORATION
        1. COMPANY OVERVIEW
        2. RECENT DEVELOPMENTS
      20. WERNICK GROUP
        1. COMPANY OVERVIEW
        2. PRODUCTS LIST

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – MODULAR CONSTRUCTION

TABLE 2: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 3: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 4: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY MATERIAL, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 5: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY MATERIAL, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 6: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 7: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 8: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 9: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 10: KEY PLAYERS OPERATING IN ASIA-PACIFIC MODULAR CONSTRUCTION MARKET

TABLE 11: LIST OF MERGERS & ACQUISITIONS

TABLE 12: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY CONSTRUCTION, IN 2022

FIGURE 8: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY PERMANENT MODULAR CONSTRUCTION, 2023-2032 (IN $ BILLION)

FIGURE 9: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY RELOCATABLE MODULAR CONSTRUCTION, 2023-2032 (IN $ BILLION)

FIGURE 10: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY MATERIAL, IN 2022

FIGURE 11: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY STEEL, 2023-2032 (IN $ BILLION)

FIGURE 12: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY CONCRETE, 2023-2032 (IN $ BILLION)

FIGURE 13: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY WOOD, 2023-2032 (IN $ BILLION)

FIGURE 14: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY PLASTIC, 2023-2032 (IN $ BILLION)

FIGURE 15: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

FIGURE 16: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY COMMERCIAL, 2023-2032 (IN $ BILLION)

FIGURE 17: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY INDUSTRIAL/INSTITUTIONAL, 2023-2032 (IN $ BILLION)

FIGURE 18: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY RESIDENTIAL, 2023-2032 (IN $ BILLION)

FIGURE 19: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 20: CHINA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 21: JAPAN MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 22: INDIA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 23: SOUTH KOREA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 24: INDONESIA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 25: THAILAND MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 26: VIETNAM MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 27: AUSTRALIA & NEW ZEALAND MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 28: REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FAQ’s