Modular Construction Market to offer a healthy CAGR of 7.0%
February 14, 2020
Modular Construction Market Overview:
Modular construction market is likely to witness an impressive CAGR of 7.0% during the forecast period. The major factor leading to the growth of the market is infrastructure spending by the global and regional economies. Further, it is estimated that spending on infrastructure and capital projects will increase substantially over the next decade. China, India, and other countries in the Asia Pacific region, along with Brazil and South Africa, are investing enormously in the infrastructure industry, which is required for modernization and commercialization. Rapid urbanization in emerging economies, such as Brazil, India, Malaysia, and Thailand is likely to fuel the spending for the major infrastructure sectors, such as power, construction, and transportation. The improvement in economic conditions of emerging markets is the key factor that is driving the demand for modular construction.
Report Overview:
This report, from Stratview Research, studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Modular Construction Market Segment Insights:
The Permanent Segment: The growth engine
Based on the construction type, the market is segmented as permanent and relocatable. The permanent segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Increase in demand for new buildings built in less time, reduction in the cost of construction, and convenience in building process are the major reasons for the dominance of this segment of the market.
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https://www.stratviewresearch.com/toc/676/modular-construction-market.html
Dominance of: The Steel Segment
Based on the material type, the market is segmented as steel, precast concrete, wood, plastic, and others. The steel segment is expected to remain dominant during the forecast period owing to its number of benefits compared to other materials, such as strength, durability, fire resistance, flexibility, structural integrity, and less requirement of maintenance throughout the life of the building.
A highly/moderately/fragment consolidated Market
Some of the major modular construction manufacturers are Laing O’Rourke, Red Sea Housing, ATCO, Bouygues Construction, VINCI, Skanska AB, and Algeco Scotsman.
Regional Hegemony of Asia-Pacific
Asia-Pacific is estimated to be the fastest-growing modular construction market during the forecast period. The growth is owing to the increasing demand for houses at economical cost in developing economies. China and India are the growth engines of the region. In addition, China is likely to actively participate in abating housing problems, globally. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
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