Modular Construction Market Size was valued at USD 84.63 billion in 2023 and the total Market revenue is expected to grow at 6.8% from 2023 to 2032, reaching nearly USD 151.48 billion.
The growing demand for cost-effective, sustainable, and time-efficient building solutions has accelerated the modular construction market. Prefabricated building components reduce construction time, minimize material waste, and enhance energy efficiency. Innovations in 3D printing, automation, and eco-friendly materials further drive adoption across residential, commercial, and industrial sectors.
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The Modular Construction Market Report is a product of in-depth research and analysis by our team of expert market analysts. It covers key factors shaping the Modular Construction Market, including industry competition, consumer trends, and technological innovations. This report serves as a strategic resource for industry professionals, enabling informed decision-making and a competitive edge in a dynamic market. With comprehensive insights and actionable intelligence, the Modular Construction Market Report provides valuable opportunities for growth and success in the industry.
Competitive Analysis
The Modular Construction Market is highly competitive, with key players focusing on innovation, strategic partnerships, and mergers and acquisitions to strengthen their market positions. Notable companies include:
Guerdon Modular Buildings (U.S.)
Laing O'Rourke (U.K.)
ATCO (Canada)
Red Sea International Company (Saudi Arabia)
Bouygues Construction (France)
VINCI Construction Grands Projets (U.K.)
Skanska AB (Sweden)
Algeco (U.K.)
KLEUSBERG GmbH & Co. KG (Germany)
Katerra (U.S.)
Lendlease Corporation (Australia)
Key Benefits for Stakeholders
The Modular Construction Market Report offers stakeholders a comprehensive suite of benefits, including quantitative analysis of market segments, trends, estimations, and dynamics from 2024 to 2032. It provides insights into key drivers, restraints, and opportunities, supported by Porter's Five Forces analysis for strategic decision-making. The report's segmentation analysis identifies market opportunities, while revenue mapping of major countries by region offers a detailed financial perspective. Additionally, it includes benchmarking and positioning of market players, along with an analysis of regional and global trends, key players, and growth strategies.
Recent Industry Developments
SG Blocks Inc., a designer and fabricator of modern modular blocks, partnered with ATCO Structures. Through this partnership, both companies contribute to the national modular fleet rollout in the U.S.
Modulaire Group, a global provider of modular spaces and business areas, acquired Procomm Site Service Ltd., which provides portable, modular accommodation in Europe. Through this acquisition, Modulaire group can strengthen its market position in the European market.
Etex Group has announced acquiring a majority stake in e-Loft. This French offsite construction company offers solutions in three modular domains: single-family modular homes, modular multifamily residential complexes, and 3D wood technology-based custom-designed buildings. This acquisition is expected to boost Etex Group's modular construction business.
Balfour Beatty has acquired two residential community developments, Retreat at Schillinger in Schillinger, Alabama, and Paces Brook in Columbia, South Carolina, in a multifamily property deal with ApexOne Investment Partners, adding 530 residential units to the company's multifamily portfolio.
Algeco Group, a global service provider in modular and prefabricated construction, acquired Wexus Group AS, a modular space rental service provider. Through this partnership, Algeco Group extended its footprints in Nordic countries.
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Drivers & Restrains
Drivers:
Growing demand for faster construction timelines and reduced labor costs in the building industry.
Increased focus on sustainability and energy efficiency, with modular construction offering eco-friendly solutions.
Restraints:
Challenges related to financing and investment in modular construction projects compared to traditional methods.
Regulatory hurdles and building codes that may not fully accommodate modular designs and processes.
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