South Korea Modular Integrated Construction Market was valued at USD 5.0 Billion in 2022 and is projected to reach USD 9.6 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The South Korea Modular Integrated Construction Market is experiencing rapid growth as industries increasingly embrace innovative construction techniques to meet the demands of modern infrastructure. This emerging market presents unique applications and requirements that cater to various sectors, such as residential, commercial, and industrial developments. Modular integrated construction (MIC) refers to the process of constructing buildings in pre-fabricated modules that are assembled on-site. This method provides numerous advantages over traditional construction methods, including faster project completion times, improved quality control, and reduced labor costs.
South Korea has become a hub for modular construction due to its strong technological infrastructure and increasing demand for sustainable, cost-effective construction solutions. The country's focus on efficiency and innovation has led to the widespread adoption of modular integrated construction techniques. Industries in South Korea, such as real estate, manufacturing, and even healthcare, have realized the benefits of MIC, and its applications have expanded rapidly across various segments.
One of the most significant factors driving the growth of the modular integrated construction market is the increasing need for affordable housing. With the country’s urbanization and growing population, there is an urgent demand for residential buildings that can be built quickly and efficiently. MIC meets this demand by allowing for faster construction timelines, reduced material waste, and improved energy efficiency, making it an ideal solution for housing projects.
Moreover, the South Korean government's policies and initiatives supporting green building technologies and energy-efficient construction have propelled the adoption of MIC in various sectors. By incorporating sustainable design principles, modular buildings are able to reduce energy consumption and carbon emissions, aligning with the nation's green building standards and environmental goals.
Industries requiring large-scale construction projects, such as hospitality and logistics, have also embraced modular integrated construction for its scalability and cost-effectiveness. These industries benefit from the ability to create customized, high-quality structures within tight timelines, addressing the growing demand for modern infrastructure across South Korea.
Furthermore, the advancements in modular technology and automation play a crucial role in making MIC a preferred choice for many industries. With the integration of artificial intelligence (AI) and robotics, the construction process has become more streamlined, reducing human error and further improving construction quality and efficiency. This technological evolution continues to shape the future of South Korea’s modular integrated construction market.
As the market matures, the demand for specialized workforce skills, such as expertise in BIM (Building Information Modeling) and construction management, has increased. South Korean industries are focusing on the training and development of these specialized skills to meet the growing demands of the modular integrated construction sector.
In summary, the South Korea Modular Integrated Construction Market is expanding rapidly due to the increasing demand for fast, cost-effective, and sustainable construction solutions across industries. This trend is expected to continue as the country moves toward more advanced, technologically driven, and environmentally conscious construction practices.
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Laing O'Rourke
Red Sea Housing
Atco Ltd.
Skanska AB
Algeco Scotsman
Kleusberg GmbH
Katerra
Lendlease Corporation
Bechtel Corporation
Fluor Corporation
DuBox
Modulaire Group
Kwikspace
Guerdon Modular Buildings
Wernick Group
KOMA MODULAR
Elements Europe
FORM Homes
Bouygues Construction
Premier Modular
Starrco
Vinci SA
Turner Industries
DMDmodular
ALHO Construction
FullStack Modular
Plant Prefab
PT Blink
BuildWright
Blokable
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Modular Integrated Construction Market
Permanent Structures
Temporary Structures
Modular Components
Residential Buildings
Commercial Buildings
Industrial Facilities
Institutional Buildings
Healthcare Facilities
Wood
Steel
Concrete
Other Composite Materials
On-site Construction
Off-site Construction
Renovation and Remodeling
Infrastructure Development
Private Sector
Public Sector
Private Homeowners
Construction Companies
Real Estate Developers
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Modular Integrated Construction Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Modular Integrated Construction Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Modular Integrated Construction Market, By Type
6. South Korea Modular Integrated Construction Market, By Application
7. South Korea Modular Integrated Construction Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Modular Integrated Construction Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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