Global Modular Construction Market Size & Share to 2027
Global Modular Construction Market Size, Trends & Growth Opportunity, By Type (Reloadable, and Permanent), By Material (Steel, Wood, Plastic, Precast Concrete, and Others), By Application, By Region and Forecast till 2027
Global Modular Construction Market
Modular construction is process of constructing prefabricated buildings or houses by using the same material and designing to the some codes and standards which are used while building conventional facilities. Modular construction is categorized into two types such as Reloadable, and Permanent. The modular units utilized to build the houses could be in the form of highly serviced units like lifts or toilets, part of rooms or complete room.
Market Drivers
Growing demand for affordable housing coupled with increase in investment in the development of commercial infrastructure and healthcare is driving factor which is expected to drive the global modular construction market growth. Also, increase in inclination towards sustainable construction methods as well as construction activities in emerging regions are expected to boost the global modular construction market growth in near future. Moreover, growing support from government regulations and policies is also anticipated to propel the global modular construction market growth. In addition to that, increase in work-zone safety and building sustainability, east of relocation of modular buildings, and increase in need for time and cost effective constructions are some driving factors which are expected to fuel the market growth.
Market Restraints
The increase in risk of transportation and assembly issues associated with modular construction is the major restraint which is expected to hamper the global modular construction market growth during this forecast period.
Market Segmentation
Global Modular Construction Market is segmented into type such as Reloadable, and Permanent, by material such as Steel, Wood, Plastic, Precast Concrete, and Others. Further, market is segmented into application such as Industrial, Healthcare, Educational, Residential, and Commercial.
Also, Global Modular Construction Market is segmented five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market key Players
Various key players are discussed in this report such as Laing O’rourke, Atco, Red Sea Housing, Vinci, Bouygues Construction, Algeco Scotsman, Skanska AB, Kef Katerra, Kleusberg GmbH & Co. Kg, and Lendlease Corporation
Market Taxonomy
By Type
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