The global Modular Construction Market is valued at $94 billion in 2023. The industry is poised to register a 6.8% growth rate, compounded annually between 2023 and 2030.

Increased demand for affordable housing, Growing popularity of sustainable construction, Advances in modular construction technology, Adaptable and Replicable Designs to cater to rapid Urbanization and Space Constraints, the trend towards using prefabricated building components, and others are among the key factors driving the market outlook to 2030.

Modular Construction Market Size, 2023- 2030

Market Driver- Speed and Efficiency support the market outlook

Modular construction allows for parallel processing where modules can be prefabricated in a controlled factory environment, site work can progress concurrently. Since a substantial portion of construction occurs off-site in a factory setting, on-site activities are minimized. This leads to fewer disruptions to the surrounding area, less congestion, and a smaller environmental footprint.

In addition, Modular construction takes advantage of controlled factory environments to optimize resource usage. Material waste is minimized through precision cutting and efficient manufacturing processes.

Modular construction relies more on factory-based workers with specialized skills. This allows for the optimal allocation of labor resources, reducing the strain on finding and training skilled workers for on-site tasks. Modular construction is particularly advantageous for projects requiring multiple identical units, such as residential developments or hotels.

As technology continues to advance and the construction industry evolves, modular construction is likely to play an increasingly significant role in meeting the demand for fast, efficient, and high-quality building solutions.

Market Opportunity- increased demand for affordable housing

With rapid urbanization and increasing housing costs, the need for accessible and cost-effective housing solutions. Modular construction offers a compelling response to this challenge, as its inherent efficiency, speed, and quality control align seamlessly with the objectives of providing affordable housing. By streamlining production processes in controlled environments, modular construction reduces construction timelines and minimizes material waste, translating to lower overall costs.

Modular construction can be up to 30% less expensive than traditional construction. This is because modular construction takes advantage of economies of scale and uses prefabricated components that are manufactured off-site.

As the demand for affordable housing continues to grow, modular construction is expected to become an increasingly popular and viable option for developers and builders.

Modular Construction Market Report

Market Trend- integration of advanced technologies into modular construction processes

The integration of advanced technologies into modular construction processes is encouraging adoption of Building Information Modeling (BIM) to enhance design accuracy and collaboration, as well as the use of automation, robotics, and artificial intelligence to optimize manufacturing and assembly processes.

Further, Advanced materials such as carbon fiber, composites, and recycled plastics are becoming increasingly common in modular construction. Leading companies are investing in R&D to deploy advanced materials in the industry. The company- Koncrete Homes is using a type of recycled plastic called Ultra-High Molecular Weight Polyethylene (UHMWPE) to create its modular homes.

In addition, more widespread implementation of off-site 3D printing for construction components, pushing the boundaries of design complexity and customization is being observed in the industry.

Market Share Analysis- Permanent Modular Construction to dominate the global markets

Permanent modular construction (PMC) holds immense potential as a transformative approach in the construction industry, offering a seamless blend of quality, efficiency, and sustainability. By utilizing advanced manufacturing techniques and adhering to rigorous quality control measures, PMC ensures consistent structural integrity.

It can significantly reduce construction time by prefabricating the modules in a factory-controlled environment. This can help to save money on labor costs and also reduce the disruption to businesses and residents in the surrounding area. Further, PMC can offer greater flexibility than traditional construction methods. This is because the modules can be easily customized to meet the specific needs of the project.

Market Segmentation

By Type

Permanent
Relocatable

By Material

Wood
Steel
Concrete
Others

By Module

Four-sided
Open-sided
Partially open-sided
Mixed Modules and Floor Cassettes
Modules supported by Primary Structures

By End User

Residential
Commercial
Industrial
Healthcare
Educational
Others

By Region

North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Others)
Asia Pacific (China, India, Japan, South Korea, Australia, Others)
Latin America (Brazil, Argentina, Others)
Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

Key Modular Construction Companies

Leading Companies Profiled in the Study-

Sekisui House Ltd.
LAING O'ROURKE
Red Sea International
Skanska
Bouygues Construction
Premier Modular Limited
KLEUSBERG GmbH & Co KG
DuBox
Wernick Group
CIMC Modular Building Systems Holdings Co., Ltd.
Riko Hiše d.o.o
Lendlease Corporation
Modulaire Group
Guerdon, LLC
Hickory Group

* List not exhaustive

Modular Construction Market Outlook 2023
1 Market Overview
1.1 Introduction to Modular Construction Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered

2 Executive Summary
2.1 2023 Modular Construction Industry- Market Statistics

3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends

4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Modular Construction Market Companies with Area Served
4.2.2 Products Offerings Global Modular Construction Market

5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case

6 Global Modular Construction Market Trends
6.1 Global Modular Construction Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global Modular Construction Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global Modular Construction Revenue (USD Million) and CAGR (%) by Regions (2018-2030)

7 Global Modular Construction Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Modular Construction Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Modular Construction Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Modular Construction Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Modular Construction Revenue (USD Million), Market Share (%) by Applications (2018-2022)

8 Global Modular Construction Development Regional Status and Outlook
8.1 Global Modular Construction Revenue (USD Million) By Regions (2018-2022)
8.2 North America Modular Construction Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Modular Construction Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Modular Construction Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Modular Construction Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Modular Construction Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Modular Construction Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Modular Construction Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Modular Construction Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Modular Construction Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Modular Construction Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Modular Construction Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Modular Construction Revenue (USD Million) by Applications (2018-2022)

8.5 South America Modular Construction Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Modular Construction Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Modular Construction Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Modular Construction Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Modular Construction Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Modular Construction Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Modular Construction Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Modular Construction Revenue (USD Million) by Applications (2018-2022)

9 Company Profiles

10 Global Modular Construction Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global Modular Construction Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global Modular Construction Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global Modular Construction Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global Modular Construction Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

11 Global Modular Construction Development Regional Status and Outlook Forecast
11.1 Global Modular Construction Revenue (USD Million) By Regions (2023-2030)
11.2 North America Modular Construction Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America Modular Construction Revenue (USD) Million by Country (2023-2030)
11.2.2 North America Modular Construction Revenue (USD Million), by Type (2023-2030)
11.2.3 North America Modular Construction Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe Modular Construction Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe Modular Construction Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe Modular Construction Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe Modular Construction Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific Modular Construction Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific Modular Construction Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific Modular Construction Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific Modular Construction Revenue (USD Million), by Applications (2023-2030)
11.5 South America Modular Construction Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America Modular Construction Revenue (USD Million), by Country (2023-2030)
11.5.2 South America Modular Construction Revenue (USD Million), by Type (2023-2030)
11.5.3 South America Modular Construction Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa Modular Construction Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa Modular Construction Revenue (USD Million), by Region (2023-2030)
11.6.2 Middle East and Africa Modular Construction Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa Modular Construction Revenue (USD Million), by Applications (2023-2030)

12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer

List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Modular Construction Market Companies with Areas Served
Table 3 Products Offerings Global Modular Construction Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Modular Construction Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global Modular Construction Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global Modular Construction Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global Modular Construction Revenue (USD Million) By Type (2018-2022)
Table 11 Global Modular Construction Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Modular Construction Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Modular Construction Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Modular Construction Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Modular Construction Market Share (%) By Regions (2018-2022)
Table 16 North America Modular Construction Revenue (USD Million) By Country (2018-2022)
Table 17 North America Modular Construction Revenue (USD Million) By Type (2018-2022)
Table 18 North America Modular Construction Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Modular Construction Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Modular Construction Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Modular Construction Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Modular Construction Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Modular Construction Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Modular Construction Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Modular Construction Revenue (USD Million) By Country (2018-2022)
Table 26 South America Modular Construction Revenue (USD Million) By Type (2018-2022)
Table 27 South America Modular Construction Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Modular Construction Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Modular Construction Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Modular Construction Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis
Table 32 Global Modular Construction Revenue (USD Million) By Type (2023-2030)
Table 33 Global Modular Construction Revenue Market Share (%) By Type (2023-2030)
Table 34 Global Modular Construction Revenue (USD Million) By Applications (2023-2030)
Table 35 Global Modular Construction Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global Modular Construction Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America Modular Construction Revenue (USD)By Country (2023-2030)
Table 38 North America Modular Construction Revenue (USD Million) By Type (2023-2030)
Table 39 North America Modular Construction Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe Modular Construction Revenue (USD Million) By Country (2023-2030)
Table 41 Europe Modular Construction Revenue (USD Million) By Type (2023-2030)
Table 42 Europe Modular Construction Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific Modular Construction Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific Modular Construction Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific Modular Construction Revenue (USD Million) By Applications (2023-2030)
Table 46 South America Modular Construction Revenue (USD Million) By Country (2023-2030)
Table 47 South America Modular Construction Revenue (USD Million) By Type (2023-2030)
Table 48 South America Modular Construction Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa Modular Construction Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa Modular Construction Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa Modular Construction Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa Modular Construction Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources

List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Modular Construction Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Modular Construction Revenue Market Share (%) By Type (2022)
Figure 5 Global Modular Construction Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Modular Construction Revenue Market Share (%) By Applications (2022)
Figure 7 Global Modular Construction Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Modular Construction Market Share (%) By Regions (2022)
Figure 9 North America Modular Construction Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Modular Construction Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Modular Construction Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Modular Construction Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Modular Construction Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Modular Construction Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Modular Construction Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Modular Construction Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Modular Construction Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Modular Construction Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Modular Construction Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Modular Construction Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Modular Construction Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Modular Construction Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Modular Construction Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Modular Construction Revenue (USD Million) By Type (2023-2030)
Figure 25 Global Modular Construction Revenue Market Share (%) By Type (2030)
Figure 26 Global Modular Construction Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global Modular Construction Revenue Market Share (%) By Applications (2030)
Figure 28 Global Modular Construction Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America Modular Construction Revenue (USD Million) By Country (2023-2030)
Figure 30 North America Modular Construction Revenue (USD Million) By Type (2023-2030)
Figure 31 North America Modular Construction Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe Modular Construction Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe Modular Construction Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe Modular Construction Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific Modular Construction Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific Modular Construction Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific Modular Construction Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America Modular Construction Revenue (USD Million) By Country (2023-2030)
Figure 39 South America Modular Construction Revenue (USD Million) By Type (2023-2030)
Figure 40 South America Modular Construction Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa Modular Construction Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa Modular Construction Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa Modular Construction Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa Modular Construction Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation

Market Segmentation