Modular Construction Market size was valued at US$ 75.89 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 6.1% through 2022 to 2029, reaching nearly US$ 121.88 Bn.
Construction Market Overview:
The various insights in the Modular Construction market study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. These insights merge data-driven research framework with qualitative consultations for business owners, policymakers, and investors.
The competitive landscape for the Modular Construction market gives information by a competitor. Corporate overview, financials, revenue produced, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application domination are all contained in the details. The data points shown above are only linked to the firms’ concentration on the window sensors industry.
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Market Scope:
Maximize research findings provide an invaluable reference for addressing all company goals, even mission-critical ones. When the results were applied, they demonstrated concrete advantages to company stakeholders and industry entities in terms of improving their performance. The outcomes are matched to the specific strategy framework. The report also displays some of the most recent case studies on how organizations solved various difficulties during their consolidation journey.
The study discusses the Modular Construction market’s Drivers, Restraints, Opportunities, and Challenges. The research assists in identifying the market growth drivers and determining how to leverage these factors as strengths. The research assists in identifying issues and solutions based on the market condition.
Drivers:
Government policies to reduce construction waste and promote green buildings are changing, which is driving the global market for modular construction. For instance, PPVC (Pre-fabricated, pre-finished, volumetric construction) parts must be used in a number of government-owned projects, according to the Singaporean government. Additionally, the government offers incentives to businesses that standardise modern construction methods. Increased spending on R&D for innovative construction solutions is anticipated to drive the modular construction market during the forecast period of 2022-2029.
Segmentation:
The market is divided into two categories: Permanent and Relocatable. By 2029, the segment of permanent modular construction is anticipated to hold the largest market shares. Using offshore and lean manufacturing technologies, permanent modular construction (PMC), a sustainable and innovative building method, prefabricates single- or multi-story structures in modular pieces. It is possible to shape PMC to fit into an existing structure. The Hawaii Film Studio, for instance, used PMC to meet stringent deadlines and financial restrictions. Restaurants, hotels, schools, and healthcare facilities are a few examples of permanent modular construction.
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Key Players:
The research provides an in-depth analysis of the market. The forecasts in the paper were created utilising tried-and-true research methodology and assumptions. Following are the key players in Modular Construction market-
• ATCO
• Anderco Pte. Ltd.
• Giant Containers Inc.
• Honomobo Corporation
• Lendlease Corporation
• SG Blocks, Inc.
• Skanska AB
• Speed House Group of Companies
• Supertech Industries LLC
• Tempohousing.
• Laing O’Rourke
• Red Sea Housing
• Atco Ltd.
• Algeco Scotsman
• Kleusberg GmbH
• Katerra
• Bechtel Corporation
• Fluor Corporation
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Regional Analysis:
The report aims to estimate the worldwide market’s existing and future development prospects, unexplored pathways, variables influencing revenue potential, and demand and consumption trends by region.
The following regional segments are thoroughly covered:
- North America
- Asia Pacific
- Europe
- South America
- The Middle East and Africa
COVID-19 Impact Analysis on Modular Construction Market:
The research enables organisations and anybody with an interest in the sector to develop broad strategy frameworks. Given the present uncertainty caused by COVID-19, this is more crucial than ever. The research deliberates on discussions to overcome various prior disruptions and anticipates forthcoming ones to improve readiness. The frameworks assist organisations in planning their strategic alignments in the aftermath of such disruptive movements. Furthermore, Maximize analysts assist you in breaking down the difficult circumstance and bringing resilience in unpredictable times.
Key Questions answered in the Modular Construction Market Report are:
- Which product segment grabbed the largest share in the Modular Construction market in 2020?
- How is the competitive scenario of the Modular Construction market?
- Which are the key factors aiding the Modular Construction market growth?
- Which region holds the maximum share in the Modular Construction market in 2020?
- What will be the CAGR of the Modular Construction market during the forecast period (2021-2027)?
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