GERMANY MODULAR CONSTRUCTION MARKET FORECAST 2023-2030

The Germany modular construction market growth is anticipated to progress at a CAGR of 6.48% during the forecast period, 2023-2030, and is set to reach a revenue of $8.82 billion by 2030.

The modular construction market growth in Germany is attributed to the rising prices and the overall progress of the construction industry. Also, the residential sector is thriving with booming construction activities. In addition, cities like Munich, Hamburg, and Dresden have constructed several modular housing complexes or estates for temporary and permanent housing. Besides, the severe shortage of schools and housing for new residents and migrants offer growth opportunities for the Germany modular construction market.

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The Germany modular construction market segmentation analysis includes material, application, and construction. The application segment includes residential, industrial/institutional, and commercial.

Commercial buildings are constructed using modular construction as per the International Building Code (IBC) or a version modeled after state regulations. Asia-Pacific has been a flourishing market for office spaces. For instance, the demand for office spaces in India has been on a surge in recent years. It has been of significant interest to foreign investors in the commercial sector. Also, the rising adoption of sustainability in the real estate sector in Asia-Pacific and office buildings in six major cities, Singapore, Hong Kong, Sydney, Tokyo, Beijing, and Shanghai, propel the demand for modular construction within the commercial segment.

In addition, around 40% of Fortune 500 companies are expected to come up in emerging economies, thereby driving the demand for new offices. Besides, the growing number of retail stores and malls is propelling the demand for modular construction. For instance, Europe is expanding its retail segment with the construction of malls across the continent. These recent mall constructions include Lublin Mall in Poland, Mall of Europe in Belgium, Weberzeile Ried in Austria, Westfield Bradford in the United Kingdom, Mall of Scandinavia in Sweden, Vegas Kuntsevo in Russia, and the Metropol Mall in Turkey.

Whereas in Asia-Pacific, China is considered a leading region with regard to shopping center construction. 7000 shopping centers are anticipated to be opened by 2025, in addition to 4000 at present. On the other hand, in the Gulf Cooperation Council (GCC) countries, several shopping malls are in the construction phase, with most to be completed in the next five years. Some ongoing projects in these countries include the City Center of Ishbiliyah in Riyadh, the Mall of Oman in Muscat, and the Mall of the World in Dubai. Such factors are set to drive the commercial segment growth.

Furthermore, the rising disposable income and the growing middle-class population propel the expansion of the middle-class housing segment. Also, the increasing demand for modular construction techniques in terms of quick construction and low-cost houses benefits the resident segment growth.

In addition, there is a considerable undersupply in meeting the housing demands. This offers a significant opportunity for developers and investors to embrace alternative construction methods and new partnerships to bring forth development. Moreover, modular construction companies are offering robust housing models to consumers in full compliance with all relevant building regulations and standards.

Some of the key firms in the Germany modular construction market are Modulaire Group, Bouygues Construction, Kleusberg GmbH & Co KG, Wernick Group, etc.

The Wernic Group is based in the United Kingdom and manufactures portable & modular buildings. It works through subsidiaries, Wernick Events Ltd, Wernick AVDanzer, Wernick Refurbished Buildings Ltd, Wernick Buildings Ltd, Wernick Power Solutions Ltd, and Wernick Hire Ltd. The company operates across sectors like healthcare, commercial, construction, education, industrial, etc. It is headquartered in Essex, the United Kingdom.

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