In-depth Analysis of the COVID-19 Impact on Modular Construction Market (Global Forecast to 2023)

The modular construction market was valued at USD 106.15 billion in 2017 and is projected to reach USD 157.19 billion by 2023, at a CAGR of 6.9% during the forecast period. Additionally, the market is expected to reach 1.50 billion square feet by 2023, at a CAGR of 6.37%. The report aims at estimating the market size and growth potential of the market across different segments based on type, material, module, end-use sector, and region. It also provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges.

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Key Market Players

Laing O’Rourke (UK), Red Sea Housing (Saudi Arabia), ATCO (Canada), Bouygues Construction (France), Vinci (France)

Recent Developments

• In July 2018, Bouygues Construction acquired AW Edwards Pty Limited (Australia) to strengthen its position in the construction market. The acquired company will be part of Bouygues Bâtiment International.
• In June 2018, KEF Infra entered into a strategic merger with Katerra (US), i.e., a technology company focused on revolutionizing the design and construction industries. The partnership between the companies expanded their manufacturing capacity, geographical reach, and market expertise. The partnership firm was named KEF Katerra.

Modular Construction is an offsite and resource-efficient method to construct code-compliant buildings in a factory-controlled environment. In this innovative construction method, buildings are produced in modules and are assembled on-site to create the desired facility structure. It offers numerous benefits in terms of quality control, faster build times, greater flexibility and reuse, cost savings, and environmental benefits. The various materials generally employed for modular construction include precast concrete, steel, wood, plastic, and others (comprising aluminum, glass, expanded polyurethane foam, and wallboards). Modular construction is widely applicable in housing, commercial, healthcare, educational & institutional buildings, and industrial.

♦ Modular Construction Market by Type (Permanent, Relocatable), Material (Steel Precast Concrete, Wood, Plastic), End-Use Sector (Housing, Commercial, Education, Healthcare, Industrial), and Region - Global Forecast to 2023

♦  MnM helped a European chemical company to assess its competitors in the construction market. This was done to help the client develop strategies that would enable it to have a stronger presence in the construction industry.

♦ Browse 90 market data Tables and 36 Figures spread through 151 Pages and in-depth TOC on “Modular Construction Market
By Module:

• 4-Sided Modules
• Open-Sided Modules
• Partially Open Sided Modules
• Mixed-Modules and Floor Cassettes
• Modules Supported By A Primary Structure
• Others

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By End-use Sector:

• Housing
• Commercial
• Education
• Healthcare
• Industrial

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