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GLOBAL MODULAR CONSTRUCTION MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Global 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 global modular construction market was valued at $73.10 billion in 2022 and is expected to reach $137.42 billion by 2032, growing at a CAGR of 6.68% during the forecast period 2023 to 2032

Modularization is a construction method where an entire building unit is constructed off-site, instead of smaller structural components, as with panelization. Modular units require the least amount of on-site construction time since all plumbing, electrical, and design finishes have typically already been installed in the facility, leaving only the assembly of modular units together in order to form a completed building. Moreover, modular buildings are highly versatile and can be designed and built to serve virtually any function. 

They are particularly well suited for buildings such as hotels, apartments, student housing, and other types comprising several repetitive units serving similar functions. As modular buildings are majorly situated in off-site facilities during the construction process, the conditions are under greater control for a larger portion of the entire process. This, in turn, results in the greatest efficiency and quality of prefabrication techniques for large-scale modular commercial construction.

Read our latest blog on the Modular Construction Market

GROWTH ENABLERS

Key growth enablers of the global modular construction market:

  • Advantages over traditional construction systems
  • Urbanization and industrialization in developing countries
  • Time and cost-effective method of construction
    • The two most essential characteristics linked with building activity are time and cost. In many emerging and developed economies, striking the ideal balance between these two dimensions has long been crucial to the industry’s development. 
    • One of the main resolutions to these issues is modular construction. Modular building techniques can offer an alternative and reduce build times by 30% to 50%. Since there is relatively lesser manpower required for on-site tasks, the procedure is cost-effective. 
    • Further, modular and off-site construction technologies help move the majority of production activities away from the construction site. As a result, inefficient and slower site activities are fundamentally replaced by effective and quick factory procedures. Moreover, less debris is produced in the process, which is an added indirect consequence of the method’s reduced onsite activities.
  • Labor shortage
  • Lower defects and reworks

GROWTH RESTRAINTS

Key growth restraining factors of the global modular construction market:

  • Higher costs and logistical complexities
    • Since most modular construction operations take place off-site and need extensive logistics to bring prefabricated materials on-site, transportation is necessary. Accordingly, the project’s viability is greatly influenced by transportation expenses.
    • Research shows that conveying modules more than 150 to 200 miles from the plant location results in high transportation costs. Besides, there are regulations on the weight of vehicles transporting these modules, as well.
    • Furthermore, due to the restricted storage space at various urban building sites, a staging area is one of the most crucial logistical issues for modular construction projects. Also, given the distance involved in shipping, most modules are packaged in waterproof materials that must be removed before they can be built.
  • High initial costs for constructing manufacturing facilities
  • Lower awareness

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KEY MARKET TRENDS

Global Modular Construction Market | Key Market Trends

  • Building information modeling (BIM) improves building and construction results by connecting people, technology, and processes. Skyscrapers, hospitals, business buildings, and residential structures may all benefit from BIM’s integration of individuals and technology to reduce time, costs and increase efficiency.
  • Comprising the use of layers of materials, such as plastics or metals, 3D printing is a technology that enables users to build three-dimensional objects from digital models. Although it has been implemented in several fields, 3D printing is now being employed in modular construction, as well. Modular 3DP construction technology (M3DP) is an innovative combination of two technologies: modular construction and 3DP construction. The two technologies syndicate the adaptability of modular construction with the cost-effectiveness, on-site building, and customization of 3DP homes.

MARKET SEGMENTATION

Market Segmentation – Construction, Material, and Application – 

Market by Construction:

  • Permanent Modular Construction
    • The permanent modular construction segment is projected to lead the construction category, with a CAGR of 6.85% during the forecast period.
    • Permanent modular construction (PMC) uses lean, off-site production methods to prefabricate single or multistory whole-building solutions in deliverable module sections and transport them to a permanent building site. 
    • These structures can be made of wood, steel, concrete, or plastic and are produced in a secure, controlled environment. 
    • The modules are created off-site in a factory and are then placed onto the building’s foundation and assembled to form a singular structure using large industrial tools like cranes. If properly maintained, buildings built using the PMC technique have a long lifespan. 
    • These structures can also be readily updated, expanded, re-modeled, or renovated throughout their existence. Furthermore, the adoption of modular construction is driven by rising labor costs in the conventional construction industry since the former requires less manual labor.
  • Relocatable Modular Construction

Market by Material:

  • Steel
  • Concrete
  • Wood
    • The wood segment, under the material category, recorded a revenue share of 18.23% in 2022. 
    • The modular construction market has witnessed the emergence of timber as a viable, widespread substitute for conventional materials. Due to its remarkable qualities, including lightweight, high durability, and low toxicity, it is often utilized in modular construction. Moreover, the material is readily recyclable and biodegradable by nature. 
    • Traditional wood studs are also used in modular timber buildings. Although the majority of wood modular buildings were formerly single-story constructions, owing to developments in engineering and technology, multi-story wood buildings can also be made in the present scenario.
    • Furthermore, cost-efficiency, weight, and versatility make timber a viable option for either permanent modular buildings or relocatable buildings. Construction projects using wood modules decrease energy waste, as well.
    • Also, because of its cellular structure, which retains thermal energy, this method of construction offers higher insulation than steel or concrete
  • Plastic

Market by Application:

  • Commercial
  • Industrial/Institutional
  • Residential

GEOGRAPHICAL STUDY

  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Italy, Spain, Belgium, Poland, and Rest of Europe
    • Europe is set to grow with a CAGR of 6.65% during the forecasted period.
    • Germany has the largest construction industry in Europe. Moreover, the country’s residential construction segment is expected to record moderately high growth. 
    • The recent bout of migration to the country is stimulating the demand for new residential construction, which is expected to boost the construction sector. Furthermore, the German government made an announcement regarding its plan to construct around 1.5 million housing units in 2021. 
    • Also, the United Kingdom’s construction sector contributes around 6% to the country’s GDP. The government is making various investments to promote the construction sector of the country, as well. 
    • Under NPIF, the government is planning to invest GBP 23 billion in housing, transport, science and innovation, as well as a 5G network, over the next five years. Of this, around GBP 7.2 billion is allocated for the construction of new homes.
    • Additionally, government investments of GBP 100 billion in large-scale housing as well as regeneration projects, coupled with key social infrastructure, such as schools, hospitals, and prisons, are expected to increase the demand for adhesives and sealants, which, in turn, is projected to drive the market for modular construction materials.
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
  • Rest of World: Latin America, the Middle East & Africa

MAJOR PLAYERS

Major players in the global modular construction market:

  • Balfour Beatty PLC
  • Astron
  • Berkeley Group
  • Modulaire Group
  • Larsen & Toubro Limited
  • Taisei Corporation

Key strategies adopted by some of these companies:

  • In December 2022, Modulaire Group announced its agreement to acquire Mobile Mini UK Holdings Limited from a WillScot Mobile Mini Holdings Corporation subsidiary. Mobile Mini UK, with a nationwide network of 16 locations in the United Kingdom, is a major steel storage as well as accommodation unit supplier. It caters to numerous sectors, including retail, manufacturing, construction, healthcare, and education.
  • Bouygues Construction and Dassault Systèmes announced the renewal of their strategic partnership in June 2022, seeking to open new horizons in the construction industry. The three-year renewal is set to expedite the research and development of cloud-based as well as mobile-enabled modular and systemic approaches in order to transform the industry’s fragmented, multiscale ecosystems and address sustainability issues.
  • In July 2021, Modulaire Group announced the completion of the acquisition of ProComm Site Services Ltd (‘ProComm’) – a leading provider of portable, modular accommodation in the United Kingdom with a broad range of end markets. These include general construction, the public sector, and petrochemical.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Billion)
Segments AnalyzedConstruction, Material, Application
Geographies AnalyzedNorth America, Europe, Asia-Pacific, and Rest of World
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
      1. GROWTH PROSPECT MAPPING FOR UNITED STATES
      2. GROWTH PROSPECT MAPPING FOR GERMANY
      3. GROWTH PROSPECT MAPPING FOR CHINA
      4. GROWTH PROSPECT MAPPING FOR SAUDI ARABIA
    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. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA MODULAR CONSTRUCTION MARKET DRIVERS
      3. NORTH AMERICA MODULAR CONSTRUCTION MARKET CHALLENGES
      4. KEY PLAYERS IN NORTH AMERICA MODULAR CONSTRUCTION MARKET
      5. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
    2. EUROPE
      1. MARKET SIZE & ESTIMATES
      2. EUROPE MODULAR CONSTRUCTION MARKET DRIVERS
      3. EUROPE MODULAR CONSTRUCTION MARKET CHALLENGES
      4. KEY PLAYERS IN EUROPE MODULAR CONSTRUCTION MARKET
      5. COUNTRY ANALYSIS
        1. UNITED KINGDOM
          1. UNITED KINGDOM MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        2. GERMANY
          1. GERMANY MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        3. FRANCE
          1. FRANCE MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        4. ITALY
          1. ITALY MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        5. SPAIN
          1. SPAIN MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        6. BELGIUM
          1. BELGIUM MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        7. POLAND
          1. POLAND MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        8. REST OF EUROPE
          1. REST OF EUROPE MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
    3. 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
    4. REST OF WORLD
      1. MARKET SIZE & ESTIMATES
      2. REST OF WORLD MODULAR CONSTRUCTION MARKET DRIVERS
      3. REST OF WORLD MODULAR CONSTRUCTION MARKET CHALLENGES
      4. KEY PLAYERS IN REST OF WORLD MODULAR CONSTRUCTION MARKET
      5. REGIONAL ANALYSIS
        1. LATIN AMERICA
          1. LATIN AMERICA MODULAR CONSTRUCTION MARKET SIZE & OPPORTUNITIES
        2. MIDDLE EAST & AFRICA
          1. MIDDLE EAST & AFRICA 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 D.O.O.
        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: GLOBAL MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

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

TABLE 4: GLOBAL PERMANENT MODULAR CONSTRUCTION MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 5: GLOBAL PERMANENT MODULAR CONSTRUCTION MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 6: GLOBAL RE-LOCATABLE MODULAR CONSTRUCTION MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 7: GLOBAL RE-LOCATABLE MODULAR CONSTRUCTION MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 8: GLOBAL MODULAR CONSTRUCTION MARKET, BY MATERIAL, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 9: GLOBAL MODULAR CONSTRUCTION MARKET, BY MATERIAL, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 10: GLOBAL STEEL MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 11: GLOBAL STEEL MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 12: GLOBAL CONCRETE MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 13: GLOBAL CONCRETE MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 14: GLOBAL WOOD MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 15: GLOBAL WOOD MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 16: GLOBAL PLASTIC MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 17: GLOBAL PLASTIC MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 18: GLOBAL MODULAR CONSTRUCTION MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 19: GLOBAL MODULAR CONSTRUCTION MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 20: GLOBAL COMMERCIAL MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 21: GLOBAL COMMERCIAL MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 22: GLOBAL INDUSTRIAL/INSTITUTIONAL MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 23: GLOBAL INDUSTRIAL/INSTITUTIONAL MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 24: GLOBAL RESIDENTIAL MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 25: GLOBAL RESIDENTIAL MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 26: GLOBAL MODULAR CONSTRUCTION MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 27: GLOBAL MODULAR CONSTRUCTION MARKET, BY GEOGRAPHY, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 28: NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 29: NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 30: KEY PLAYERS OPERATING IN NORTH AMERICA MODULAR CONSTRUCTION MARKET

TABLE 31: EUROPE MODULAR CONSTRUCTION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 32: EUROPE MODULAR CONSTRUCTION MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 33: KEY PLAYERS OPERATING IN EUROPE MODULAR CONSTRUCTION MARKET

TABLE 34: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 35: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 36: KEY PLAYERS OPERATING IN ASIA-PACIFIC MODULAR CONSTRUCTION MARKET

TABLE 37: REST OF WORLD MODULAR CONSTRUCTION MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

TABLE 38: REST OF WORLD MODULAR CONSTRUCTION MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ BILLION)

TABLE 39: KEY PLAYERS OPERATING IN REST OF WORLD MODULAR CONSTRUCTION MARKET

TABLE 40: LIST OF MERGERS & ACQUISITIONS

TABLE 41: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 42: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 43: 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 FOR UNITED STATES

FIGURE 4: GROWTH PROSPECT MAPPING FOR GERMANY

FIGURE 5: GROWTH PROSPECT MAPPING FOR CHINA

FIGURE 6: GROWTH PROSPECT MAPPING FOR SAUDI ARABIA

FIGURE 7: MARKET MATURITY ANALYSIS

FIGURE 8: MARKET CONCENTRATION ANALYSIS

FIGURE 9: VALUE CHAIN ANALYSIS

FIGURE 10: GLOBAL MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY CONSTRUCTION, IN 2022

FIGURE 11: GLOBAL MODULAR CONSTRUCTION MARKET, BY PERMANENT MODULAR CONSTRUCTION, 2023-2032 (IN $ BILLION)

FIGURE 12: GLOBAL MODULAR CONSTRUCTION MARKET, BY RELOCATABLE MODULAR CONSTRUCTION, 2023-2032 (IN $ BILLION)

FIGURE 13: GLOBAL MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY MATERIAL, IN 2022

FIGURE 14: GLOBAL MODULAR CONSTRUCTION MARKET, BY STEEL, 2023-2032 (IN $ BILLION)

FIGURE 15: GLOBAL MODULAR CONSTRUCTION MARKET, BY CONCRETE, 2023-2032 (IN $ BILLION)

FIGURE 16: GLOBAL MODULAR CONSTRUCTION MARKET, BY WOOD, 2023-2032 (IN $ BILLION)

FIGURE 17: GLOBAL MODULAR CONSTRUCTION MARKET, BY PLASTIC, 2023-2032 (IN $ BILLION)

FIGURE 18: GLOBAL MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

FIGURE 19: GLOBAL MODULAR CONSTRUCTION MARKET, BY COMMERCIAL, 2023-2032 (IN $ BILLION)

FIGURE 20: GLOBAL MODULAR CONSTRUCTION MARKET, BY INDUSTRIAL/INSTITUTIONAL, 2023-2032 (IN $ BILLION)

FIGURE 21: GLOBAL MODULAR CONSTRUCTION MARKET, BY RESIDENTIAL, 2023-2032 (IN $ BILLION)

FIGURE 22: NORTH AMERICA MODULAR CONSTRUCTION MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 23: UNITED STATES MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

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

FIGURE 25: EUROPE MODULAR CONSTRUCTION MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

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

FIGURE 27: GERMANY MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 28: FRANCE MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 29: ITALY MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 30: SPAIN MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 31: BELGIUM MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 32: POLAND MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 33: REST OF EUROPE MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 34: ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 35: CHINA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 36: JAPAN MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 37: INDIA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 38: SOUTH KOREA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 39: INDONESIA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 40: THAILAND MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 41: VIETNAM MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 42: AUSTRALIA & NEW ZEALAND MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 43: REST OF ASIA-PACIFIC MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 44: REST OF WORLD MODULAR CONSTRUCTION MARKET, REGIONAL OUTLOOK, 2022 & 2032 (IN %)

FIGURE 45: LATIN AMERICA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FIGURE 46: MIDDLE EAST & AFRICA MODULAR CONSTRUCTION MARKET, 2023-2032 (IN $ BILLION)

FAQ’s

FAQs

 The Europe modular construction market was valued at $24.43 billion in 2022, with a market share of 33.42%.

The steel segment, under the material category, held the largest market of 55.38% in 2022, recording a revenue of $40.49 billion.

  • What are the key trends driving the global modular construction market growth?

The increasing demand for spaces with lower environmental impact, improvements in building information modeling (BIM), and the application of 3D printing in modular construction are among the key trends driving the global modular construction market growth during the forecast period.