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:
The Modular Construction Market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Modular Construction Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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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 % 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
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeModular Constructiong executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeModular Constructiong executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Modular Construction market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacModular Constructiong current and future market trends are also covered in the Modular Construction market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooModular Constructiong. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Modular Construction Market:
End-user industries where Modular Construction are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Modular Construction manufacturers, harming the Modular Construction market’s growth in 2020. End-user business demand for Modular Construction has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Modular Construction Market Report are:
- In 2021, which segment accounted for the most share of the Modular Construction market?
- What is the competitive landscape of the Modular Construction market?
- What are the key factors influencing Modular Construction market growth?
- In the Modular Construction market, which region has the most market share?
- What will be the CAGR of the Modular Construction market during the forecast period (2022-2027)?
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