Global modular construction market was valued at $ 108 billion in 2024-2032 and is projected to grow at a CAGR of over 5.5% by 2026, owing to rising demand for complex structures at affordable rates along with rapid urbanization and industrialization. Modular construction is a term used to describe the use of factory-produced pre-engineered building units that are delivered to site and assembled as large volumetric components or as substantial elements of a building. The modular units may form complete rooms, parts of rooms, or separate highly serviced units such as toilets or lifts. Completed modules are delivered to the site and pieced together to form a finished building.
Spending on infrastructure is a major driver for global modular construction market. It is anticipated that the spending on infrastructure and capital projects would grow significantly over the next few years. India, China and other countries in Asia-Pacific are investing considerably in the infrastructure market. Moreover, modular construction reduces build time by 30-50%. The process is cost-effective due to less labour involved in on-site activities. Thus, the need for time saving construction methods is widening the growth scope of global modular construction market.
In terms of material, global modular construction market is categorized into steel, precast concrete, wood, plastic, aluminium and others. Of all, precast concrete captured majority of global modular construction market in 2024-2032 and is expected to continue its dominance throughout forecast period as well. The category is also predicted to witness the fastest growth during forecast period.
Global modular construction market has several manufacturers, with moderate competition. Most manufacturers target Asian countries including India and China, wherein the construction industry is bolstering. Some of the leading players in global modular construction market are ACS Group, Skanska AB, Taisei Corporation, Lendlease Corporation, Balfour Beatty Plc., L&T among others.
Years considered for this report
Historical Years2016-2024-2032
Base Year2024-2032
Estimated Year2024-2032
Forecast Period2022–2026
Objective of the Study
- To analyze and forecast the market size of global modular construction market.
- To classify and forecast global modular construction market based on material, type, end user and regional distribution.
- To identify drivers and challenges for global modular construction market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global modular construction market.
- To conduct pricing analysis for global modular construction market.
- To identify and analyze the profile of leading players involved in global modular construction market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the service offerings, distribution channels and presence of all major manufacturers across the globe.
Market insights research calculated the market size of global modular construction
Key Target Audience
- Module manufacturers
- Raw material suppliers
- Industry associations and experts
- Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
