Global Modular Container Market Size study & Forecast, by Type (Mobile Modular Containers, Fixed Modular Containers), by Revenue Source (New Product Sales, Rental), by Usage (Office Container, Sanitary Container, Locker Container, Showroom Containers, Accommodation Containers, Storage Containers, Others), by Container Size (Below 10 Feet, 10-20 Feet, 21-40 Feet, Above 40 Feet), by Application (Construction, Industrial, Education, Healthcare, Automotive, Others) and Regional Analysis, 2022-2029
Global Modular Container Market is valued approximately USD 26.24 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029. Prefabricated steel buildings called modular containers are utilised as schools, workplaces, labs, hospitals, worker camps on construction sites, and overnight accommodations. Numerous advantages of modular containers include ease of installation, financial effectiveness, and environmental friendliness. The major driving factor for the market are increasing industrial and commercial development and growing lease services.
The modular containers are sturdy and resistant to adverse weather conditions. The number of people relocating into metropolitan areas is expected to increase as industrial and commercial development significantly increases. The widespread usage of modular containers for housing and storage needs as a result of the growing urbanization in cities such as Vancouver (Canada), New York (U.S.), and Mexico City (Mexico) is expected to fuel the market's expansion in the ensuing years. Along with this, modular containers are offered for lease and renting together with services such as delivery, maintenance, installation, and other ad hoc services by major players such as WillScot Mobile Mini and McGrath RentCorp. Along with this, growing number of lease contract is also driving the growth for the market over the forecast period. The typical lease or rent period in 2020, according to the Relocatable Buildings Report, was 16.7 months, down from 23.4 months in 2019. However, the high cost of Modular Container stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Modular Container Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. The North America region is dominating the market with biggest share in 2021 is anticipated to rule the market for the entire duration of the projection. Due to the tremendous expansion of infrastructure and industries, modular construction is becoming more and more common in the United States. However, according to industry analysts, modular construction would be used in at least half of the future projects over the course of the next three years. As the widespread usage of modular containers in construction projects throughout the region, Asia-Pacific is anticipated to experience the largest growth throughout the projected period. Since most construction projects are now in progress, safe storage space is needed for supplies like rods and cement. During the forecast period, this is anticipated to grow the target market. The Asia-Pacific region's market expansion is being spearheaded by China and India.
Major market player included in this report are:
MODULE-T PREFABRIK SYSTEMS DIS TIC LTD STI
Prefabex
McGrath RentCorp
Prefabricated Modular Steel Structures - MODSTEEL
HENAN K-HOME STEEL STRUCTURE CO., LTD.
Kwikspace
Falcon Structures
Truston
WillScot Mobile Mini Holdings Corp.
PODS Enterprises LLC
Recent Developments in the Market:
Modulaire Group announced the acquisition of Alquibalat, S.L. in November 2021. (Balat). In the building sector, Balat provides modular building containers for hire and for purchase. More than 15,000 of its locations are operating in Spain and Portugal, including those in Madrid, Coruna, Bilbao, Barcelona, Malaga, Seville, and Valencia. Through this transaction, Modulaire grew its market share in Spain.
Global Modular Container Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Revenue Source, Usage, Container Size, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Mobile Modular Containers
Fixed Modular Containers
By Revenue Source:
New Product Sales
Rental
By Usage:
Office Container
Sanitary Container
Locker Container
Showroom Containers
Accommodation Containers
Storage Containers
Others
By Container Size:
Below 10 Feet
10-20 Feet
21-40 Feet
Above 40 Feet
By Application:
Construction
Industrial
Education
Healthcare
Automotive
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Companies Mentioned
MODULE-T PREFABRIK SYSTEMS DIS TIC LTD STI
Prefabex
McGrath RentCorp
Prefabricated Modular Steel Structures - MODSTEEL
HENAN K-HOME STEEL STRUCTURE CO., LTD.
Kwikspace
Falcon Structures
Truston
WillScot Mobile Mini Holdings Corp.
PODS Enterprises LLC
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