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.
Modular Construction Market Overview:
A thorough analysis of the competition is provided by the Modular Construction market study, which also includes company profiles and market share data for the top international rivals. The scope of the study includes a thorough analysis of the Modular Construction market as well as the factors influencing regional differences in the industry’s rate of development.
Market Scope:
Extensive primary research was conducted to acquire data and check and validate key figures once market engineering, which included market statistics computations, market size estimations, market projections, market breakdown, and data triangulation, was finished. Top-down and bottom-up strategies, as well as other data triangulation techniques, were frequently used throughout the market engineering process to conduct market estimating and forecasting for the overall market segments and sub-segments detailed in this research. All data gathered during the market engineering process are subjected to extensive qualitative and quantitative analysis in order to give crucial information throughout the report.
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Segmentation:
Based on the Type, the market is segmented into Permanent, and Relocatable. Permanent modular construction type segment is expected hold the largest market shares of xx% by 2029. Permanent modular construction (PMC) is a sustainable and creative building approach that prefabricates single or multi-story structures in modular pieces using offshore and lean manufacturing technologies. PMC can be shaped to integrate into an existing structure. PMC was utilised by the Hawaii Film Studio, for example, to satisfy tight deadlines and budget constraints. Healthcare facilities, hotels, schools, and restaurants are some of the examples of the permanent modular construction.
Key Players:
• 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
Both primary and secondary research are used to determine the market’s leaders and to estimate market revenue. The main study includes in-depth interviews with influential thought leaders and subject matter experts, including CEOs, marketing executives, and seasoned front-line workers. In-depth interviews with significant thought leaders and industry professionals, including CEOs, marketing executives, and seasoned front-line staff, were undertaken as part of primary research, and secondary research included a review of the annual and financial reports of the major manufacturers. In order to determine percentage splits, market shares, growth rates, and global market breakdowns, secondary data is used. These calculations are then cross-checked against primary data.
The biggest players in the Modular Construction market are as follows:
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Regional Analysis:
The geographical overview of the Modular Construction market report also covers specific market influencing factors and changes in market legislation that have an impact on present and future market trends. In order to assess the total market potential and identify profitable patterns in order to gain a stronger footing, current and future trends are researched. The existing environment and projected trends serve as the foundation for the geographic market evaluation.
COVID-19 Impact Analysis on Modular Construction Market:
End-user industries using Modular Constructions experienced a decline in growth from January 2020 to May 2020 as a result of a pause in operations. These nations included China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the demand for companies that produce Modular Construction decreased dramatically, which had an effect on the growth of the Modular Construction market in 2020. Global COVID-19 occurrences and lockdowns have significantly decreased end-user business demand for Modular Constructions.
Key Questions Answered in the Modular Construction Market Report are:
- In 2021, which segment held the highest proportion of the Modular Construction market?
- What is the Modular Construction market’s competitive landscape?
- What are the primary drivers assisting Modular Construction market growth?
- Which region has the most market share in the Modular Construction market?
- What will be the Modular Construction market’s CAGR throughout the projected period (2022-2027)?
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