The Modular Construction Market segmentation will provide deep growth analysis of the Modular Construction industry for identifying the growth opportunities, development trends and factors limiting the growth of the market. This report offers market information based on past and present industry situations and growth aspects. Initially, the report presents the market overview covering product description, market analysis, market dynamics, opportunities and market share.
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Secondly, global Modular Construction Market report conducts a qualitative analysis to present the key manufacturer’s profile, market share, market size, sales volume, gross margin analysis. All the key regions covered in report are North America, Europe, Asia-Pacific, South America, Middle East and Africa. The Modular Construction market share and market outlook of each region from 2019-2024 are presented in this report.
The global modular construction market is expected to witness a moderate CAGR during the forecast period, 2018 to 2023. Modular construction is a type of construction where the building structures/ designs are pre-built under controlled conditions and later installed on the site of requirement. The United States and the United Kingdom are some of the key countries for the modular construction market.
Increasing Construction Activities in Developing Economies
Rising demand for construction from Asia-Pacific can mainly be attributed to the increasing amount of government funds in Australia, and the opportunities created in India by government initiatives. Australias construction practices have become obsolete, and are referred to as inefficient. The government is planning to expand R&D in technologies, including 3D printing, artificial intelligence, robotics, and automation. This increased R&D will likely enable construction of metropolitan cities with greater efficiency and lesser cost, besides being considerate of environmental impact. In July 2017, Perth-based Company, Fastbrick Robotics, signed a deal with the construction equipment manufacturer, Caterpillar, to develop The Hadrian X, a digital construction system that manufactures houses at cheap and affordable prices. In India, the government plans to build 50 million homes and more than 90 smart cities by 2022. The Indian market is in its nascent stage, and these government plans are providing opportunities for offsite construction and pre-fabricated modular units. Certain cities, like Bengaluru, have included modular construction in the residential and industrial sectors.
Office Construction to Dominate the Modular Construction Market
Modular blocks play a wide role in the construction of offices and related cabins. Modular construction technology is used to build office cabins, kitchens, conference rooms, lobbies, restrooms, and also open spaces for partition systems. Almost 40% of the low-rise offices across the globe are constructed through modular blocks. This helps the companies to save a lot of time and money, which are crucial factors in any business. The increasing young age population (20-30 yrs) primarily in developing nations and urbanization in many countries are some of the key factors are boosting the demand for new offices. This scenario, in turn, is boosting the demand for modular construction.
Significant Rate of Growth in United States
Modular construction of the United States is expected to increase at a moderate pace, mainly because of opportunities created by government schemes and acquisitions by companies. According to the United States Census 2016, a small number of houses are modularly constructed. Annually, only 2% of new single family homes is constructed through modular means. Modular construction is seen as an efficient solution for mass home production. Modular construction is currently used as a solution to non-conventional housing needs. Companies are showing an active interest in understanding the US market, and in making significant capital investment. Sekisui House, a Japanese modular construction firm, has recently purchased the Salt Lake City-based homebuilder, Woodside Homes.
Key Developments in the Market
2017: Marriot International announced that it is constructing new hotels through modular construction process and is considered to be one of the largest projects in hotel modular construction
Major Players: Komatsu Ltd, Kiewit Corporation, Balfour Beatty Plc, ACS Actividades de Construcción y Servicios S.A, and DuBox; among others
Reasons to Purchase the Report
Current and future of modular construction market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porters five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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Modular Construction Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Modular Construction Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Modular Construction market on the basis of product type, application, and region
- To forecast and analyze the size of the Modular Construction market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Modular Construction market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Modular Construction market
- To analyze opportunities in the Modular Construction market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Modular Construction market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Modular Construction Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Modular Construction trade
Marketing Channel Development Trend
Modular Construction Market Positioning
Distributors/Traders List enclosed in Positioning Modular Construction Market
Modular Construction Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Modular Construction Market 2019 report presents the descriptive analysis of the Modular Construction Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Modular Construction Market competitors.
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