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NORTH AMERICA MODULAR CONSTRUCTION MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America 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 North America modular construction market is projected to grow with a CAGR of 6.49% during the forecasted years of 2023-2032, acquiring a revenue share of $27.73 billion by 2032.

The increasing number of migrants in need of both temporary as well as permanent homes, investments in cutting-edge technologies that focus on sustainability, and the rising inclination toward environmentally friendly manufacturing procedures are among the key factors expected to contribute to the market growth in North America. In addition, over the last five decades, North America has urbanized faster compared to the majority of OECD countries. This aspect is expected to further fuel the region’s modular construction market growth during the forecast period.

North-America-Modular-Construction-Market

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The North America modular construction market growth evaluation constitutes a detailed analysis of the United States and Canada. The construction sector in the United States has witnessed significant growth over recent years, primarily on account of the increase in private sector expenditure on residential construction. Moreover, the growing population is anticipated to boost the demand for housing in the country, as well, with around 20 million households expected to be constructed over the upcoming decade. The United States commercial construction sector is also predicted to record substantial growth. Accordingly, several upcoming projects are in the pipeline for the country’s building infrastructure industry. For instance, city officials in San Francisco unveiled designs for the South San Francisco Civic Center Campus, entailing a new library, city council chambers, as well as a recreation center. Besides, the budget for this project is estimated to be $210 million.

Furthermore, the growing trend of modular construction is also gaining traction within the United States Government and the Department of Defense. Temporary, relocatable modular buildings provide flexibility, and the US Department of Defense aims to exploit the same in order to build barracks, bunkhouses, administrative office spaces, correctional facilities, hospitals, commissary facilities, intelligence facilities, mess facilities, utility structures, training facilities, and others. As a result, the rise in investments by multiple verticals across the construction industry is set to bolster the demand for modular construction. These factors, in turn, are projected to fuel the market growth in North America during the forecasting years.  

The North America modular construction market is segmented into construction, application, and material. The construction segment includes permanent modular construction and re-locatable modular construction. Permanent modular construction (PMC) utilizes off-site, lean manufacturing methods to prefabricate multi-story or single whole-building solutions in deliverable module units. These components are then transported to a permanent building site. 

Conversely, re-locatable modular construction, also termed portable buildings, are wholly or largely built structures assembled through the modular construction method in a controlled production setting. They are designed to be transported to different construction locations and, subsequently, repurposed.

Some of the leading companies operating in the North America modular construction market include Balfour Beatty PLC, Bouygues Construction, etc.

Balfour Beatty PLC, headquartered in the United Kingdom, is an international infrastructure services business involved in developing, financing, building, and maintaining infrastructure like transportation, social and commercial buildings, as well as power and utility systems. The company’s client base covers government departments and agencies, private sector organizations, and regulated utilities.

Balfour Beatty PLC’s Bathroom Pod entails the offsite manufacturing of bathroom pods completed with fixtures, fittings, and finishes, coupled with the production of story-high panels for glazed façades.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Construction, Application, Material
Countries AnalyzedThe United States and Canada
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. 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
  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: NORTH AMERICA MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, HISTORICAL YEARS, 2018-2022 (IN $ BILLION)

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

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

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

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

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

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

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

TABLE 10: KEY PLAYERS OPERATING IN NORTH AMERICA 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: NORTH AMERICA MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY CONSTRUCTION, IN 2022

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

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

FIGURE 10: NORTH AMERICA MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY MATERIAL, IN 2022

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

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

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

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

FIGURE 15: NORTH AMERICA MODULAR CONSTRUCTION MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

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

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

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

FIGURE 19: NORTH AMERICA MODULAR CONSTRUCTION MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

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

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

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