Global Modular Construction Market Size To Grow USD 277.76 Billion By 2030 | CAGR of 8.1%

Global Modular Construction Market Size Report 2030 

According to a research report published by Spherical Insights & Consulting, the Global Modular Construction Market Size to grow from USD 137.8 billion in 2021 to USD 277.76 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period. The modular construction market has grown due to the increasing investment in the construction sector for affordable, environment-friendly, high-quality modular structures. There are advancements in new technologies to help ease the modular construction experience of people, which is expected to provide growth opportunities for the market during the forecast period.

Browse key industry insights spread across 206 pages with 137 market data tables and figures & charts from the report “Global Modular Construction Market Size, Share, and COVID-19 Impact Analysis, By Type (Relocatable and Permanent) By Material (Plastic, Steel, Wood, Precast Concrete and Others) By End User (Healthcare, Education, Commercial, Industrial and Housing) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030.“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/modular-construction-market

View a detailed Table of Content here–

On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.

The solution segment to account for the largest market size during the forecast period

Based on the technology, the modular construction market is categorized into relocatable and permanent. The solution segment to account for the largest market size during the forecast period. The demand for solutions is increasing because these are used in the treatment of dry eye disease. The rising demand for solutions propels the growth of the OTC artificial tears market.

The steel segment to hold a higher CAGR during the forecast period

Based on the material, the modular construction market is categorized into plastic, steel, wood, precast concrete and others. The steel segment to hold a higher CAGR during the forecast period. The increasing financial outlay for the development of affordable housing structures coupled with the rapid growth of the industrial sector in developing economies is expected to augment the market growth.

The commercial segment to hold a higher CAGR during the forecast period.

Based on the end user, the modular construction market is categorized into healthcare, education, commercial, industrial and housing. The commercial segment to hold a higher CAGR during the forecast period. Starting up is an increasing trend in developing economies, which means the commercial sectors with the most market share are growing the fastest.

Europe to hold a higher CAGR during the forecast period.

The Global Modular Construction Market has been segmented into five major regions:  North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022.  Asia Pacific is expected to be the largest market. With access to raw materials and manpower, along with advances in technology and innovation, Asia Pacific has seen its economy grow rapidly.

Major vendors in the Global Modular Construction Market include Skanska AB, Speed House Group of Companies, S.G. Blocks Inc., Atco, Katerra, Balfour Construction, TAISEI CORPORATION, Bouygues Construction, Lendlease Corporation, Giant Containers Inc., Red Sea Housing, Bechtel Corporation, Kleusberg GmbH, Laing O’Rourke, and Algeco Scotsman.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In April 2021, With the acquisition of Kitchens To Go, McGrath RentCorp has become the world's leading provider of interim and permanent modular food service facilities to enable food service providers to continue or expand operations while providing temporary and customized permanent food service facilities across the nation.

• In July 2021, A significant market presence across Europe was established by Modulaire Group through the acquisition of Procomm Site Services Ltd.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global modular construction market based on the below-mentioned segments:

Global Modular Construction Market, By Type

• Relocatable
• Permanent

Global Modular Construction Market, By Material

• Plastic
• Steel
• Wood
• Precast Concrete
• Others

Global Modular Construction Market, By End User

• Healthcare
• Education
• Commercial
• Industrial
• Housing

Global Modular Construction Market, Regional Analysis

• North America
  • THE US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• The Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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