Global Modular Construction Market Expected to Reach USD $175 Billion by 2025

According to the report, the global modular construction market totaled about USD $15,416,666,667 in 2018 and is projected to reach USD $24,305,555,556 by 2025.

The full title of the report is: Modular Construction Market by Type (Permanent and Re-locatable), by Material (Steel, Wood, Precast Concrete, and Plastics), and by Application (Industrial, Education, Housing, Commercial, and Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025.

In other words: a comprehensive global industry analysis and forecast for 2018–2025 covering permanent and relocatable modular buildings for industrial, education, housing, commercial, and healthcare uses, built with steel, wood, precast concrete, and plastic structures.

Below are selected highlights from the report:

1. The modular construction market is expected to grow rapidly, driven first by faster urbanization in developing countries such as China and India, and second by developed countries using modular construction to upgrade and replace existing buildings;

2. In North America, modular construction accounts for about 3% of new buildings;

3. Laws and regulations favoring greener, lower-emission building systems will also help expand the modular construction market further;

4. A shortage of skilled workers for producing and installing modular buildings will hinder further market expansion;

5. Modular buildings fall into two main categories: permanent and temporary. Permanent modular buildings will dominate the market; they reduce labor and construction time and help raise on-site efficiency;

(See also: modular building classification, markets, and trends)

6. Main structural types for modular buildings include steel, wood, precast concrete, and plastic. Steel modular buildings will lead internationally, with advantages in durability, fire treatment, structural stability, and flexibility;

7. Main market applications include industrial, residential, commercial, education, and healthcare. Residential modular buildings will lead the market, especially as demand for smart buildings and middle-class housing rises;

(See also: development direction of modular buildings—affordable housing)

8. In 2018, the Asia-Pacific region accounted for a large share of global modular construction demand, mainly thanks to faster infrastructure, industrialization, and urbanization there;

9. North America will become an important global modular construction market in the coming years, especially with rising demand for concrete-plus-modular hybrid structures for commercial use;

10. Major international modular construction companies include: Red Sea Housing, Bouygues Construction, Skanska AB, KLEUSBERG GmbH, Lendlease Corporation, Laing O'Rourke, ATCO, VINCI, Algeco Scotsman, and Katerra.

We looked up these companies' websites for reference:

Red Sea Housing

https://www.redseahousing.com/

Bouygues Construction

https://www.bouygues-construction.com/en

Skanska AB

https://www.skanska.com/

KLEUSBERG GmbH

https://www.kleusberg.de/

Lendlease Corporation

https://www.lendlease.com/jp/

Laing O'Rourke

http://www.laingorourke.com/

ATCO

https://www.atco.com/en-ca.html

VINCI

https://www.vinci.com/

Algeco Scotsman

https://www.algeco.com/

Katerra

https://www.katerra.com/

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