Skip to main content

Modular Construction Market to Hit USD 106.22 billion by 2027; Rising Demand for Cost-Effective Building Solutions in Urban Areas to Boost Market Growth: Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, July 22, 2020 (GLOBE NEWSWIRE) — The global modular construction market size is projected to reach USD 106.22 billion by 2027, exhibiting a CAGR of 5.9% during the forecast period. Increasing pollution levels from construction activities worldwide will be a major driver of growth for this market, states Fortune Business Insights™ in its report, titled “Modular Construction Market Size, Share & COVID-19 Impact Analysis, By Type (Permanent Modular Construction, and Relocatable Modular Construction), By Application (Commercial, Healthcare, Education & Institutional, Hospitality, and Others), and Regional Forecast, 2020-2027”.
Gain More Insights into this Industry with Impact of COVID-19 Analysis:
https://www.fortunebusinessinsights.com/industry-reports/modular-construction-market-101662
Intelligent insights into the market drivers, trends, and restraints;Actionable research into the regional prospects and investment pockets for the market;Detailed study of all market segments; andIn-depth profiling and examination of key market players and their strategies.
Market RestraintFalling Construction Output Triggered by COVID-19 to Hamper Market GrowthThe modular construction market growth is expected to be marred by the COVID-19 pandemic outbreak as lockdowns and social distancing measures have led to steep declines in productivity in the construction sector. According to the Chartered Institute of Building (CIOB) in the UK, the coronavirus pandemic is likely to cause additional 15% drop in productivity at construction sites across the UK. Supply chain disruptions and workers’ absenteeism in factories and plants are expected to further delay projects, adding to the on-going woes in the global construction sector. For instance, in India, the Confederation of Real Estate Developers’ Association of India reported that in March 2020, over 30% of workers were absent from worksites owing to fears of catching the infection. With the demand for housing getting hit due to the global economic downturn, the modular construction projects will inevitably get affected until the spread of the coronavirus is contained.
Click here to get the short-term and long-term impact of COVID-19 on this market.Please visit: https://www.fortunebusinessinsights.com/industry-reports/modular-construction-market-101662
Speedy Expansion of Urban Areas to Fuel Market Growth in Asia PacificWith a market size of USD 21.02 billion in 2019, Asia Pacific is slated to dominate this market share during the forecast period. The foremost factor fueling the regional market is the massive private and public investments in the construction sector in India and China. Moreover, governments in the region are aggressively promoting green housing technologies, which is further propelling the market.In North America, escalating demand for prefab construction in the healthcare, residential, and manufacturing sectors is driving the market growth. In Europe, government-backed housing initiatives in the UK are favoring market growth. In addition to this, the European Union has made strong commitments to reduce emissions from construction, thereby stoking the adoption of modular construction solutions in the continent.Implementation of Novel Ventures by Key Players to Energize Market CompetitionKey players in this market are actively undertaking niche and novel construction projects to diversify their range of operations and entrench their position in the market. The demand for modular construction engineering solutions is steadily climbing worldwide and leading companies are taking solid efforts to meet this demand.Industry Developments:May 2020: The Skanska- and IKEA-owned low-cost home provider, BoKlok UK, appointed TopHat, a leading modular housing specialist, to deliver and support part of its maiden project in the UK. Under the 5-year contract, TopHat will supply BoKlok with 2- and 3-bedroom houses, which will be made from timber frames and feature high energy-efficiency.November 2019: US-based construction company, Katerra, announced its partnership with India-based Vaishnavi Group to construct a 521,400sq.ft. Vaishnavi Tech Square in Bangalore. The project will involve offsite integrated manufacturing, with the building components being produced at Katerra’s plant for modular construction in Tamil Nadu.
List of the Leading Companies Operating in the Modular Construction Market Research Report are:Lendlease Corporation (Sydney, Australia)KLEUSBERG GmbH & Co. KG (Wissen, Germany)Skanska AB (Stockholm, Sweden)Bouygues Construction (Paris, France)ATCO (Alberta, Canada)Guerdon Modular Buildings (Boise, Idaho)Katerra (Menlo Park, California)Algeco (London, United Kingdom)VINCI Construction Grands Projets (Brentford, United Kingdom)Red Sea International Company (Jeddah, Kingdom of Saudi Arabia)Laing O’Rourke (Dartford, United Kingdom)
Quick Buy:
Detailed Table of ContentIntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersPorter’s Five Forces AnalysisCOVID-19 Outbreak: Modular Construction Industry ImpactGlobal Modular Construction Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Sizing Estimations and Forecasts – By Type (Value)Permanent Modular Construction (PMC)Relocatable Modular ConstructionMarket Sizing Estimations and Forecasts – By Application (Value)CommercialHealthcareEducation & InstitutionalHospitalityOthers (Residential, etc.)Market Analysis, Insights and Forecast – By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaTOC Continued…!!!
Forklift Trucks Market Size, Share & Industry Analysis, By Type (Class I, Class II, Class III, Class IV, Class V), By Application (Mining, Logistics, Construction, Food & Beverage, Natural Resources, Manufacturing, Others (Agriculture, etc.)) and Regional Forecast, 2019-2026Dump Trucks Market Size, Share and Industry Analysis By Type (Articulated, Rigid), By End Use Application (Mining, Construction, Waste Management, Others) and Regional Forecast 2019-2026Cranes Market Size, Share and Industry Analysis By Product Type (Mobile, Fixed, Marine), By End-User Industry (Construction, Mining, Industrial, Oil & Gas, Others) and Regional Forecast 2019-2026Construction Equipment Market Size, Share and COVID-19 Impact Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment & Cranes, Concrete Equipment, Road Building Equipment, Civil Engineering Equipment, Crushing and Screening Equipment and Other Equipment), By Application (Residential, Commercial & Industrial) and Regional Forecast, 2020-2027Construction Films Market Size, Share & Industry Analysis, By Type (PP/BOPP, PET/BOPET, LLDPE, HDPE, POLYAMIDE/BOPA, PVB, PVC, LDPE, Others), By Application (Barriers & protective, Decorative, Others) Others and Regional Forecast, 2019-2026
Construction Chemicals Market Size, Share & Industry Analysis, By Type (Admixtures, Flooring, Waterproofing, Repair & Rehabilitation, and Others), By Application (Residential, and Non-Residential), and Regional Forecast, 2019-2026
Construction Additives Market Size, Share & Industry Analysis, By Type (Chemical, Mineral, Fibres), By End-Use (Residential Sector, Non-Residential Sector) and Regional Forecast, 2019-2026

About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
 Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
 US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.