GLOBAL MODULAR CONSTRUCTION MARKET FORECAST 2023

Nov 24, 2023

KEY FINDINGS. The global modular construction market is projected to develop with a CAGR of 6.68% during the forecast years 2023 to 2032. MARKET INSIGHTS.

New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL MODULAR CONSTRUCTION MARKET FORECAST 2023-2032" - https://www.reportlinker.com/p06465580/?utm_source=GNW KEY FINDINGSThe global modular construction market is projected to develop with a CAGR of 6.68% during the forecast years 2023 to 2032. The market's growth is attributable to factors such as the advantages over traditional construction systems, the increase in urbanization and industrialization in developing countries, as well as advantages of a time and cost-effective method of constructionMARKET INSIGHTSModularization is characterized as a construction method where a complete unit of a building is constructed off-site instead of smaller structural components, as with panelization.During the modular construction process, buildings are constructed in a controlled environment and, subsequently, put together at the construction site.The modules are built through the use of common building materials as well as assembly-line production techniques.Furthermore, compared to traditional approaches, modular construction entails overlapping site development at the construction site and building construction in the manufacturing facility.This approach reduces construction time by up to 50%.Also, modular building sites are adaptable, mobile, and can be disassembled and renovated. Hence, the advantages of a time and cost-effective method of construction are set to propel the global modular construction market growth.REGIONAL INSIGHTSThe global modular construction market growth study covers the analysis of the Asia-Pacific, North America, Europe, and Rest of World.The Asia-Pacific is set to lead and dominate the global modular construction market during the forecast period.The increase in research and development initiatives, rising investments in the residential and commercial industry, and strategic initiatives between various governments as well as the private sector are expected to propel the region's market growth.COMPETITIVE INSIGHTSThe industrial rivalry in the global modular construction market is anticipated to be moderate over the forecast years. Some of the leading companies operating in the market are Berkeley Group, Larsen & Toubro Limited, Modulaire Group, etc.Our report offerings include:• Explore key findings of the overall market• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions• Market Segmentation caters to a thorough assessment of key segments with their market estimations• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developmentsCompanies mentioned1. ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA2. ASTRON3. BALFOUR BEATTY PLC4. BERKELEY GROUP (BERKELEY MODULAR)5. BOUYGUES CONSTRUCTION6. GUERDON MODULAR BUILDINGS7. JEFF LUCHETTI CONSTRUCTION INC8. JULIUS BERGER NIGERIA PLC9. KLEUSBERG GMBH & CO KG10. KOMA MODULAR11. LAING O’ROURKE12. LARSEN & TOUBRO LIMITED13. MODULAIRE GROUP14. PALOMAR MODULAR BUILDINGS15. RIKO HIŠE D.O.O.16. RED SEA HOUSING17. SKANSKA GROUP18. SYSTEM HOUSE R&C CO LTD19. TAISEI CORPORATION20. WERNICK GROUPRead the full report: https://www.reportlinker.com/p06465580/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________