According to a new report published by Allied Market Research, titled, “Modular Construction Market,” The modular construction market was valued at $131.1 billion in 2021, and is estimated to reach $234.7 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
An increase in demand for prefabricated housing units, owing to reduction in construction cost & time and government initiative toward green building concept is predicted to cater to the growth of the modular construction market. Many competitors, architects, and builders are taking advantage of used shipping containers for building homes.
Download Research Sample with Industry Insights @
https://www.alliedmarketresearch.com/request-sample/6339
In addition, increase in urban population and industrialization in developed countries, such as the U.S., Japan, France, and Canada, surges the demand for modular construction, owing to features such as space issues, movability, and easy of transport. Modular construction is compact and easy to move from one place to other, which drives the growth of the modular construction market. However, modular or prefabrication products need to install heating ventilation and air conditioning systems in extreme cold and hot regions, which is anticipated to hamper the growth of the market. Conversely, upsurge in demand for new construction and increase in focus toward affordable housing structures are anticipated to provide lucrative opportunities for the modular construction market growth.
On the contrary, several players such as ATCO and Fluor Corporation are expanding their business worldwide, owing to augmented customer base, improved effective operations, expanded geographical reach, and developed product portfolio. In addition, many major players in the global modular construction industry are offering solutions considering convenience factors to increase their sales. All such factors are expected to offer lucrative opportunities for the market.
Make Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/6339
Top Players:
The major players having significant modular construction market share profiled in the report included are ATCO, Anderco Pte. Ltd, Giant Containers Inc, Bechtel Corporation, Lendlease Corporation, SG Blocks Inc, Skanska AB, Speed House Group of Companies, Supertech Industries LLC, Fluor Corporation, and Modulaire Group.
Key Findings of The Study
• The report provides an extensive analysis of the current and emerging global modular construction market trends and dynamics.
• By type, the permanent segment was the largest revenue generator having significant modular construction market share in 2021.
• By material, the steel segment generated the highest revenue in 2021.
• By end user, the residential segment dominated the market in 2021.
• Region wise, North America is anticipated to dominate the global modular construction market throughout the study period.
Request for Customization @ https://www.alliedmarketresearch.com/request-for-customization/6339
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com