Panelized Modular Building Systems Market - Growth, Trends, Covid-19 Impact, and Forecast (2023 - 2028)
The global panelized modular building systems market is estimated to reach over USD 100,072 million by the end of this year. It is projected to register a CAGR of around 6% during the forecast period.
The COVID-19 pandemic in 2020 and the first half of 2021 drastically curtailed the global construction sector due to imposed government bans and restrictions, thereby limiting the panelized modular building systems market growth. Residential real estate was the worst hit as strict lockdown measures across significant cities resulted in the suspension of home registrations and slow home loan disbursements. However, the construction sector has been recovering well since restrictions were lifted. An increase in house sales, new project launches, and increasing demand for new offices and commercial spaces have been leading the market recovery.
Key HighlightsThe panelized modular building systems market is fragmented, with many players holding insignificant shares to individually affect the market demand. Some of the major players in the market (in no particular order) include Kingspan Timber Solutions (Kingspan Group), Robertson Group Ltd, Etex Building Performance, Hunter Douglas Group, and Metek PLC.
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