Global Modular Construction Market Forecast and Analysis (2020-2027), by Type, Material, End-User Sector and Region. – Stock Market Vista

Global Modular Construction Marketwas valued at US$ 127.81 Bn 2019 and is expected to reach US$ 205.21 Bn by 2027, at a CAGR of 6.10% during a forecast period 2020-2027.

Modular construction is a process in which a building is constructed off-site, under controlled plant conditions, using the same materials and designing to the same codes and standards as conventionally built facilities.

Global Modular Construction Market Dynamics:

Major driving factors of the Modular Construction Market are rising construction activities in emerging economies such as China, India, Japan and Brazil, and increasing inclination toward property construction and trendy construction techniques. The construction process of modular buildings is faster than the conventional process as it requires less time. Furthermore, other advantages that are associated with modular construction includes greater flexibility, improved air quality, and reduced construction schedule creating market opportunity in this sector. The recession in the global financial market and low disposable income will act as restraint to the market.

However, the demand for modular construction is entirely dependent on the demand for new construction, which is directly related to the economic condition of any country, region, or the world as a whole. Due to slowdown in the global economy, the demand for new construction is decreasing. Unemployment and low disposable income radically affecting the market growth.

Global Modular Construction Market Segmentation Analysis:

Global Modular Construction Market is segmented by type, by Material, by Application and by Region. By type, permanent modular segment held the largest share of 67% in 2019 and is expected to keep its dominance over forecast period. Permanent modular buildings are comparable to buildings strictly built onsite in terms of quality, life span, and materials used for construction. Permanent modular affords a cleaner worksite with fewer disruptions. With the majority of work completed offsite, issues such as noise, dust, debris, and weather complications are greatly reduced. Permanent modular construction has emerged as an alternative to traditional building methods over the past decade. Increase in per capita income and easy availability of finances are some of the factors responsible for the rising trend of owning a house, thereby, positively influencing market growth.

Global Modular Construction Market Regional Analysis:

By geography, Asia Pacific held 39% market share in 2019 and is expected to keep its dominance over forecast period. The Asia-pacific Modular construction market particularly within countries like the Asian nation and China is growing rapidly thanks to an increasing range of construction activities boosted by the apace growing population and demand for recent residential and industrial buildings. China itself is one among the leading producers of the standard building product. Moreover, government initiatives in numerous Asian countries also are propellant the market growth within the region.

Moreover, emerging economies of Latin America along with high-growth markets of Eastern Europe, and Southeast Asia are expected to provide lucrative growth opportunities. Slower growth is anticipated in North America and Europe due to increased construction activities in developing regions.

Global Modular Construction Market Competitive Landscape

From a competitor position, the market is highly fragmented with several regional and smaller suppliers with wide market coverage due to the relative ease of setting up a business in this space. The industry is, therefore, slated to experience consolidation with multiple merger and acquisition activities occurring in the foreseeable future. Many small and regional participants such as Algeco Scotsman, Alta-Fab Structures, Arts Way Manufacturing, Atco, Bouygues Construction, Cimc Modular Building Systems Holding, Clayton Homes, Dubox, Hickory Group, Horizon North Logistics, Kef Katerra, Kleusberg GmbH & Co. Kg are influencing the overall pricing and distribution patterns in regional markets, especially in Latin America, the Middle-East, and Asia-Pacific.

The objective of the report is to present a comprehensive analysis of the Global Modular Construction Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Application on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Modular Construction Market dynamics, structure by analyzing the market segments and project the Global Modular Construction Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Modular Construction Market make the report investors guide.Scope of the Report for Modular Construction Market

Global Modular Construction Market, By Type

Permanent RelocatableGlobal Modular Construction Market, By Material

Precast Concrete Steel Wood PlasticGlobal Modular Construction Market, By Application

Housing Commercial Education Healthcare IndustrialGlobal Modular Construction Market, by Region

North America Europe Asia Pacific Middle East & Africa Latin AmericaKey Players Operating in Modular Construction Market

Algeco Scotsman Alta-Fab Structures Arts Way Manufacturing Atco Bouygues Construction Cimc Modular Building Systems Holding Clayton Homes Dubox Hickory Group Horizon North Logistics Kef Katerra Kleusberg GmbH & Co. Kg Koma Modular Kwikspace Modular Buildings Laing Orourke Modular Space Corporation NRB Inc. Red Sea Housing Skanska AB Vinci Wernick Group

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Global Modular Construction Market Forecast and Analysis (2020-2027), by Type, Material, End-User Sector and Region. - Stock Market Vista