Open Modular Building Market was valued at USD 16.5 Billion in 2022 and is projected to reach USD 38.4 Billion by 2030, growing at a CAGR of 11.7% from 2024 to 2030.
Between 2018 and 2022, the Open Modular Building Market experienced a surge in the use of pre-fabricated structures, especially in the commercial, residential, and industrial sectors. These modular structures were not only quicker to assemble but also proved to be more cost-effective when compared to traditional construction. The growing awareness of environmental sustainability further fueled this trend, as modular buildings are known for their energy efficiency and reduced waste generation. Key drivers of this market during these years included the rise in government initiatives to support sustainable construction, increased demand for affordable housing, and the overall shift towards modern construction practices.
However, the outlook for the market from 2023 to 2033 is poised to be even more dynamic, with a projected increase in demand for open modular buildings across various regions. As the world faces growing challenges related to urbanization, climate change, and affordability in housing, modular buildings present a unique solution. Innovations in materials and design are anticipated to enhance the functionality and durability of these structures, making them a top choice for commercial developers, residential builders, and governments.
The anticipated demand over the next decade is driven by factors such as rapid urbanization, the increasing need for affordable housing, and the quest for eco-friendly construction methods. Furthermore, the expansion of the renewable energy sector is likely to foster greater adoption of open modular buildings, particularly in remote or off-grid locations. This evolution will also be influenced by the rising preference for adaptable spaces in both residential and commercial properties, allowing occupants to customize layouts and functions.
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The Open Modular Building Market, spanning from 2018 to 2022, has witnessed significant transformation, driven by advances in construction technology, sustainability initiatives, and a shift in consumer preferences toward more flexible, cost-efficient building solutions. As modular construction became increasingly popular, the sector experienced steady growth, offering solutions to challenges like limited space, rising labor costs, and environmental concerns. This demand for faster, more customizable building solutions resulted in the rapid adoption of open modular building designs, which prioritize adaptability and efficiency.
Laing O’rourke
Red Sea Housing
Atco
Bouygues Construction
Vinci Construction
Skanska
Algeco Scotsman
Kleusberg
Katerra
Lendlease
CIMC Modular Building Systems
WillScot
Dubox
Kwikspace Modular Buildings
Guerdon Modular Buildings
Alta-Fab Structures
Westchester Modular Homes
Wernick Group
Fleetwood Australia
NRB Inc
KOMA Modular
Hickory Group
Clayton Homes
J.D. Irving
Horizon North Logistics
Art’s Way Manufacturing
Urban Splash
Sekisui House
Riko Group
Premier Modular
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 Global Open Modular Building Market
Commercial
Institutional
Industrial
Based on Types the Market is categorized into Below types that held the largest Open Modular Building market share In 2023.
Permanent Modular
Relocatable Modular
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Open Modular Building 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. Global Open Modular Building Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Open Modular Building Market, By Type
6. Global Open Modular Building Market, By Application
7. Global Open Modular Building Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Open Modular Building Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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