Modular Construction is referred as volumetric building modular units, which are usually in the form of highly serviced units such as lifts or toilets, complete rooms, or parts of a room. Global modular construction market is expected to witness a sustainable growth rate of over 5%, to reach a market size of USD 154.8 million by 2023.
Get Free Sample Copy@ https://www.marketresearchfuture.com/sample_request/1682
Furthermore, other advantages that are associated with modular construction includes greater flexibility, improved air quality, and reduced construction schedule. The increasing industrialization and rapid urbanization are expected to spur the industry growth over the forecast period. Furthermore, growing inclination toward sustainable construction methods giving modular construction market, a boost, which has resulted in industrialization growth.
Modular construction involves the production of basic components in an off-site and assembled on the site of the construction. The technology has gained ground in recent years due to the shift from traditional methods of construction and need for properties in a speedy economy.
Modular Construction Industry Trend
3D volumetric modular construction involves the prefabrication of components in single or multiple sections which can be interlocked at the construction site. This method is suited for buildings with repetitive designs such as hotels and houses. The adoption of this model could culminate in cost-savings of real estate companies and be a plan for resolving the housing crisis rampant in North America. In addition, schedules for delivery have been reportedly reduced by nearly 50% by the adoption of this approach.
Global Modular Construction Market Competitive Analysis
The market has witnessed a significant growth opportunity by well-established players on the back drop of expanding of operations. The players have been expanding their business especially for modular construction, owing to the interest that it has generated for having construction at rapid pace. Modular construction market has also witnessed a huge profit due to less noise pollution, inexpensive, the factory-controlled setting also contributes to improved air quality.
ACS Group (Spain)
Skanska AB (Sweden)
Komatsu Ltd (Japan)
Balfour Beatty Plc. (U.K.)
Kiewit Corporation (U.S.)
Taisei Corporation (Japan)
Red Sea Housing Services (Saudi Arabia)
System House R & C Co. Ltd (Japan)
Bouygues Construction (France)
Global Modular Construction Market Segmentation
The global modular construction market is segmented according to material, product, application, and construction.
By material, it is segmented into wood, plastic, concrete, steel, and others. Among them, concrete accounted for 33.70% share in 2016 with an estimated value of USD 35.1 million. The segment can exhibit a CAGR of 7.19% during the forecast period due to high need for concrete in the development sector.
By product, it is segmented into columns & beams, roofs & floors, walls, and others. Roofs & floors can command a CAGR of 6.69% during the forecast period. Need for efficient roofs for withstanding climatic conditions and for creating habitual spaces in large buildings can drive segment growth.
By application, it is segmented into infrastructure, residential, commercial, and others. Residential was touted to be the biggest application till the end of the forecast period, followed by commercial. The transition to cities by the growing populace in developing nations is expected to create opportunities for the market in the forthcoming years. The commercial application, on the other hand, was valued at USD 38.5 million in 2016. The focus of governments on creating smart cities and suitable infrastructure is ensured to drive the global modular construction market demand till 2023.
Worldwide Competitive Outlook
Characterized by the presence of well-established and small players, the global Modular Construction market is highly competitive. Well established players engage in acquisitions, collaborations, and technological launches in order to capture shares and maintain their status.
Modular Construction – Regional Analysis
On the basis of region, Asia-Pacific region dominates the Modular Construction market. It accounted for the largest market share of 46.30% in 2016, with a market value of USD 48.2 million. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. China is one of the leading markets in the Asia-Pacific region.
North America is the second largest region for the Modular Construction market. It accounted for the market share of 27.6% in 2016, with a market value of USD 28.7 million. The North America Modular Construction market is driven by various factors such as consumer preference for green buildings and sustained investments in commercial real estate.
ACCESS REPORT DETAILS @ https://www.marketresearchfuture.com/reports/modular-construction-market-1682
Modular Construction for High Rise Buildings Market Research Report Information: Material (Steel) Building Height (Up to 70 Meters) Module Type (Bathroom Pods) – Forecast Till 2023
Vertical Garden Construction Market Information By Type (Indoor Vertical Garden Wall, And Outdoor Vertical Garden Wall), By Application (Commercial Construction And Residential Construction) And Region – Forecast To 2023
List of Tables
TABLE 1 SHARE OF TOP FIVE COUNTRIES ATTRACTING FDI EQUITY INFLOWS FOR CONSTRUCTION DEVELOPMENT, 2000-2015 (USD MILLION) 21
TABLE 2 GLOBAL MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2015-2023 (USD MILLION) 31
TABLE 3 GLOBAL MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, 2015-2023 (USD MILLION) 34
TABLE 4 GLOBAL MODULAR CONSTRUCTION MARKET, BY PRODUCT, 2015-2023 (USD MILLION) 38
TABLE 5 GLOBAL MODULAR CONSTRUCTION MARKET, BY APPLICATION, 2015-2023 (USD MILLION) 42
TABLE 6 GLOBAL MODULAR CONSTRUCTION MARKET, BY REGION, 2015-2023 (USD MILLION) 45
TABLE 7 NORTH AMERICA: MODULAR CONSTRUCTION MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 46
TABLE 8 NORTH AMERICA: MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2015-2023 (USD MILLION) 47
TABLE 9 NORTH AMERICA: MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, 2015-2023 (USD MILLION) 48
TABLE 10 NORTH AMERICA: MODULAR CONSTRUCTION MARKET, BY PRODUCT, 2015-2023 (USD MILLION) 49
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR 17
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 19
FIGURE 3 FDI INFLOWS, ASIA-PACIFIC, 2010-2015 (USD BILLION) 22
FIGURE 4 PORTER’S FIVE FORCES ANALYSIS OF GLOBAL MODULAR CONSTRUCTION MARKET 25
FIGURE 5 VALUE CHAIN ANALYSIS OF GLOBAL MODULAR CONSTRUCTION MARKET 27
FIGURE 6 GLOBAL MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2016 (% SHARE) 30
FIGURE 7 GLOBAL MODULAR CONSTRUCTION MARKET, BY MATERIAL, 2015 – 2023 (USD MILLION) 31
FIGURE 8 GLOBAL MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, 2016 (IN %) 33
FIGURE 9 GLOBAL MODULAR CONSTRUCTION MARKET, BY CONSTRUCTION, 2015 – 2023 (USD MILLION) 34
FIGURE 10 GLOBAL MODULAR CONSTRUCTION MARKET, BY PRODUCT, 2016 (% SHARE) 37
Ask Query to our Expertise@ https://www.marketresearchfuture.com/enquiry/1682
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar