Reports
Global Modular Construction Market Size, Share, Growth: By Construction: Permanent Modular, Relocatable Modular; By Material: Steel, Concrete, Wood, Plastic; By End Use: Commercial, Industrial/Institutional, Residential; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Modular Construction Market Outlook
The global modular construction market attained a value of about USD 56.22 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 12.4% to reach nearly USD 113.32 billion by 2032.
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Rising Demand for Modular Construction to Eliminate On-Site Constraints Boosting the Market Growth
The rising demand for alternative construction systems owing to the surging construction costs of green buildings is propelling the market growth. The increasing demand for modular construction that is manufactured in controlled conditions while eliminating on-site constraints, such as extreme weather conditions, is also augmenting the growth of the modular construction industry. Moreover, modular construction is ideal for construction projects with deadlines, due to which it is increasingly employed in contractual construction projects, which is aiding the market growth. The robust growth of the commercial sector is increasing the construction of commercial buildings such as schools, offices, and hotels, among others. This, in turn, is surging the demand for modular construction of repetitive structures, manufactured with quality control, therefore fuelling the market growth.
The Asia Pacific region is witnessing robust growth due to the growing construction industry in the region. As countries like India, China, and Indonesia, among others, are some of the largest outsourcing and manufacturing hubs, the construction of commercial buildings is rapidly increasing. This, in turn, is increasing the demand for modular construction, therefore invigorating the market growth. Furthermore, increasing international investments in the construction sector in the region are positively impacting the market growth. The rising demand for sustainable buildings owing to surging environmental consciousness and the alarming pollution rate in the region is escalating the deployment of modular construction, hence significantly contributing to the overall market growth.
Modular Construction: Market Segmentation
Modular construction refers to a process that involves the construction of various modules at controlled off-site manufacturing facilities by using assembly-line production methods. It can be easily installed on the site to depict the design and specifications of the building while escalating the construction process. Modular construction generates less amount of waste, reduces manual labour, enhances cost-effectiveness, and prevents on-site accidents, due to which it is increasingly deployed.
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The major constructions of modular construction are:
- Permanent Modular
- Relocatable Modular
The market can be broadly categorised on the basis of its materials into:
- Steel
- Concrete
- Wood
- Plastic
Based on end uses, the market is divided into:
- Commercial
- Industrial/Institutional
- Residential
The EMR report looks into the regional markets of modular construction like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Technological Advancements to Bolster the Modular Construction Industry
As technological advancements are transforming the construction industry, the latest technologies such as robotics and artificial intelligence (AI), among others, are increasingly integrated in to modular construction. The growing demand for automation of monotonous and repetitive tasks in the manufacturing of modular construction is increasing the use of robotics. This trend is expected to continue with the advent of Industry 4.0 and is anticipated to bolster the market growth in the forecast period. In addition, the use of technology to connect building information, computational design, and modelling tools to improve the supply chain and logistics of modular construction is providing further impetus to the growth of the modular construction industry.
The rising demand for permanent modular construction to increase the cost-effectiveness of construction projects is driving the market growth. The growing labour costs in the construction industry is also surging the deployment of modular construction as it requires less amount of manual work. Moreover, the robust growth of the housing industry, with the prices skyrocketing in countries, such as Canada and the United States, is escalating the use of modular construction to accelerate the construction of residential buildings. In addition, the use of modular construction to customise designs in accordance with one’s demands is projected to propel the industry growth.
Key Industry Players in the Global Modular Construction Market
The report presents a detailed analysis of the following key players in the global modular construction market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Bouygues Construction
- Balfour Beatty plc
- Larsen & Toubro Ltd
- JL Construction
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Construction, Material, End Use, Region |
| Breakup by Construction | Permanent Modular, Relocatable Modular |
| Breakup by Material | Steel, Concrete, Wood, Plastic |
| Breakup by End Use | Commercial, Industrial/Institutional, Residential |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Bouygues Construction, Balfour Beatty plc, Larsen & Toubro Ltd, JL Construction, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Modular Construction Market Analysis
8.1 Key Industry Highlights
8.2 Global Modular Construction Historical Market (2018-2023)
8.3 Global Modular Construction Market Forecast (2024-2032)
8.4 Global Modular Construction Market by Construction
8.4.1 Permanent Modular
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Relocatable Modular
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Modular Construction Market by Material
8.5.1 Seel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Concrete
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Wood
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Plastic
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Modular Construction Market by End Use
8.6.1 Commercial
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Industrial/Institutional
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Residential
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Modular Construction Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Modular Construction Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Modular Construction Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Modular Construction Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Modular Construction Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Modular Construction Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Bouygues Construction
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Balfour Beatty plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Larsen & Toubro Ltd
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 JL Construction
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Modular Construction Market: Key Industry Highlights, 2018 and 2032
2. Global Modular Construction Historical Market: Breakup by Construction (USD Billion), 2018-2023
3. Global Modular Construction Market Forecast: Breakup by Construction (USD Billion), 2024-2032
4. Global Modular Construction Historical Market: Breakup by Material (USD Billion), 2018-2023
5. Global Modular Construction Market Forecast: Breakup by Material (USD Billion), 2024-2032
6. Global Modular Construction Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Modular Construction Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Modular Construction Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Modular Construction Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Modular Construction Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Modular Construction Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Modular Construction Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Modular Construction Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Modular Construction Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Modular Construction Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Modular Construction Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Modular Construction Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Modular Construction Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Modular Construction Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Modular Construction Market Structure
Key Questions Answered in the Report
In 2023, the global modular construction market attained a value of nearly USD 56.22 billion.
The market is projected to grow at a CAGR of 12.4% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 113.32 billion by 2032.
The rising demand for alternative construction systems, the surging use of modular construction to eliminate on-site constraints, and the robust growth of the commercial sector are the major drivers of the market.
The key trends guiding the market growth include technological advancements, the rising demand for permanent modular construction, and the robust growth of the housing sector.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major segments on the basis of construction considered in the market report are permanent modular and relocatable modular.
The various segments based on material considered in the market report are steel, concrete, wood, and plastic.
The various end uses of modular construction are commercial, industrial/institutional, and residential.
The major players in the modular construction market are Bouygues Construction, Balfour Beatty plc, Larsen & Toubro Ltd, and JL Construction, among others.
Analyst Review
The global modular construction market attained a value of nearly USD 56.22 billion in 2023, driven by the rising demand for alternative construction systems. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 12.4%. The market is projected to reach about USD 113.32 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its constructions, the modular construction industry can be bifurcated into permanent modular and relocatable modular. On the basis of materials, the industry is divided into steel, concrete, wood, and plastic. By end uses, the market is categorised into commercial, industrial/institutional, and residential. The major regional markets for modular construction are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Bouygues Construction, Balfour Beatty plc, Larsen & Toubro Ltd, and JL Construction, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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