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Modular & Prefabricated Construction Market Trends

Report ID: GMI4829
Published Date: Apr 2024
Report Format: PDF

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Modular & Prefabricated Construction Market Trends

Modular construction allows industries to customize their designs while also incorporating the most recent style and utility improvements. Before the introduction of modular building, companies were required to spend countless man-hours on planning and designing while actual construction took months or years to accomplish. Modular design eliminates assumptions in the planning stages and significantly simplifies construction, reducing the time from conception to completion by months or more.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of modular & prefabricated construction was reached USD 155.3 billion in 2023 and is projected to expand at 5.7% CAGR from 2024 to 2032, due to the rising demand for affordable housing as well as increasing global investments in healthcare & commercial infrastructure development.

The permanent construction segment in the modular & prefabricated construction market accumulated 54% share in 2023 owing to their ability to incorporate into an existing structure or designed to stand alone.

Europe modular & prefabricated construction industry held 42% revenue share in 2023 and is estimated to grow at 6% CAGR between 2024 and 2032, on account of the increasing number of migrants necessitating the construction of temporary and permanent dwelling buildings.

ACS Group, Algeco (Modulaire Group), Berkeley Modular Limited, Bouygues Construction, DUB0X, Guerdon, LLC, Hickory Group, Kiewit Corporation, Kleusberg GmbH, Laing ORourke, Larsen & Toubro Limited, Lendlease Corporation, Red Sea International, Riko Group, Satellite Shelters, Sekisui House, Ltd., Skanska, Taisei Corporation, and VINCI Construction are some of the leading modular & prefabricated construction companies worldwide.