Modular & Prefabricated Construction

Modular & Prefabricated Construction

Global Modular & Prefabricated Construction Market to Reach US$203.8 Billion by 2030

The global market for Modular & Prefabricated Construction estimated at US$159.3 Billion in the year 2024, is expected to reach US$203.8 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2024-2030. Permanent Modular & Prefabricated Construction, one of the segments analyzed in the report, is expected to record a 5.2% CAGR and reach US$121.7 Billion by the end of the analysis period. Growth in the Relocatable Modular & Prefabricated Construction segment is estimated at 2.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$43.4 Billion While China is Forecast to Grow at 7.9% CAGR

The Modular & Prefabricated Construction market in the U.S. is estimated at US$43.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$42.2 Billion by the year 2030 trailing a CAGR of 7.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.6% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.

Global Modular & Prefabricated Construction Market - Key Trends & Drivers Summarized

What Makes Modular & Prefabricated Construction the Future of Building?

The shift towards modular and prefabricated construction is revolutionizing the global construction industry. This approach, which emphasizes assembling building components off-site and then transporting them for on-site installation, is gaining traction due to its efficiency, cost savings, and sustainability. Industries across residential, commercial, and industrial sectors are increasingly embracing these methods to meet growing demands for rapid urbanization, affordable housing, and eco-friendly solutions. Moreover, advancements in automation, robotics, and Building Information Modeling (BIM) have streamlined the prefabrication process, ensuring precision and reduced material waste. These factors collectively make modular construction a preferred choice for stakeholders aiming to meet tight project timelines without compromising quality.

How Is Technology Powering Modular & Prefabricated Construction?

Technological innovation is the cornerstone of modular and prefabricated construction`s ascent. Automation in manufacturing processes allows for seamless production of prefabricated modules, which are then transported and assembled on-site. Smart technologies, such as AI and IoT, are being integrated to optimize the supply chain, enhance energy efficiency, and monitor real-time project progress. Additionally, 3D printing is being increasingly employed to create bespoke modular components, further reducing production costs and increasing design flexibility. These technologies, combined with digital twin simulations, enable stakeholders to visualize projects at every stage, minimizing errors and improving collaboration among architects, engineers, and contractors.

What Are the Emerging Trends and Consumer Demands in This Space?

Evolving consumer preferences are shaping the modular and prefabricated construction market in unique ways. The demand for sustainable building solutions has fueled interest in eco-friendly prefabricated homes and offices, often featuring solar panels, rainwater harvesting systems, and energy-efficient insulation. Urbanization trends in developing countries are driving the construction of multi-story prefabricated residential complexes, while developed regions are focusing on luxury prefabricated solutions for high-end projects. Furthermore, the rise of smart cities and green infrastructure has created a demand for modular systems that can integrate seamlessly with renewable energy grids and smart home technologies. These trends highlight the adaptability of prefabrication methods to cater to diverse market needs.

What Are the Growth Drivers in Modular & Prefabricated Construction?

The growth in the Modular & Prefabricated Construction market is driven by several factors. Firstly, rising urbanization has increased the need for faster construction methods to address housing shortages, particularly in Asia-Pacific and Sub-Saharan Africa. Secondly, the global push for sustainability has made modular construction appealing due to its reduced material wastage and energy efficiency. Additionally, labor shortages in traditional construction have spurred demand for prefabrication, which requires fewer on-site workers. Innovations in materials, such as lightweight composites and recycled materials, are further propelling growth. Finally, the expanding application of modular construction in healthcare, education, and disaster-relief housing underscores its versatility and relevance in addressing diverse societal needs.

This combination of technological innovation, market adaptability, and alignment with global trends positions modular and prefabricated construction as a pivotal force in the future of building.

SCOPE OF STUDY:

The report analyzes the Modular & Prefabricated Construction market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product Type (Permanent Modular & Prefabricated Construction, Relocatable Modular & Prefabricated Construction); Material (Steel Material, Wood Material, Concrete Material, Other Materials)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 27 Featured) -

• Actividades de Construccion y Servicios S.A. (ACS)
• Bouygues Construction
• Group AMANA
• Guerdon, LLC.
• Hickory Group
• Kiewit Corporation
• Laing O`Rourke
• LARSEN & TOUBRO LIMITED.
• Lendlease Corporation
• Modulaire Group

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.