‘Modular construction’ is a term which is used for describing the use of factory-produced pre-engineered building units that are delivered to site and assembled as the elements of a building. The modular units can be used for forming complete rooms, a part room, or separate units such as toilets or lifts. The collection of distinct modular units usually constructs a self-supporting structure in its own or for tall buildings which may rely on an independent structural framework. The construction process of modular buildings is faster than the conventional process since it occurs concurrently with site work, allowing the projects to be completed in half the time. Also, The factory-controlled process of modular construction creates fewer site disturbances and generates less waste. Furthermore, other advantages associated with modular construction includes greater flexibility and reuse, less material waste, improved air quality, reduced construction schedule, safer construction, unlimited design opportunities, and better-engineered building. Modular construction is useful in remote and rural areas where conventional construction may not be reasonable or possible. Geographically, Asia-Pacific holds a major share owing to the emerging economies in the region.
The Growth in infrastructure investment and industrialization, increase in concern towards work zone safety, Government initiatives, and regulations toward sustainability and green environment are driving the market’s growth. However, the shortage of skilled labor and volatility in transportation charges may put a hindrance on market development in the years ahead.
The “Modular Construction Market – Forecasts from 2019 to 2024” is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, material, end-user, and geography.
The modular construction market is segmented based on type, material, end-user, and geography. Based on type the market has been segmented into permanent and re-locatable. By material, the market has been classified into steel, precast concrete, wood, plastic, and others. By end-user, the market has been classified into housing, commercial, education, healthcare, and industrial.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the modular construction market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the modular construction market.
Middle East and Africa