What is Modular Fabrication?
Modular fabrication is a process to fabricate modules off-site in the fabrication facility. Modular fabrication is gaining popularity as it offers enhanced safety, quality, and faster than on-site construction. Increasing innovation and growing demand for prefabrication of MEP systems for modular constructions will noteworthy opportunities for the market during the forecast period. The increasing development of residential buildings and the emerging trend for prefabricated modules that can be installed in less space will accelerate the growth of the modular fabrication market.
The market study is broken down by Type (Permanent and Relocatable), by Application (Commercial, Residential, Industrial and Education and Healthcare) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Larsen & Toubro Ltd (India), Modulex (India), ATCO LTD. (Australia), Zeton (Canada), Zekelman Industries (United States), Worley (Australia), Turner Industries (United States), Levstal (Estonia), Bouygues Construction (France), Laing O'Rourke (United Kingdom), Balfour Beatty (United Kingdom), PCL Construction (Canada), Skanska (Sweden), Kleusberg Holding Gmbh and Co. Kg (Germany), Abtech, Inc. (United States), Panel Built, Inc. (United States), Lendlease (Australia), M Davis Inc. (United States) and Yanda Group (China) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Modular Fabrication market by Type, Application and Region.
On the basis of geography, the market of Modular Fabrication has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Structure Type, the sub-segment i.e. Offshore will boost the Modular Fabrication market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Steel will boost the Modular Fabrication market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In December 2021, The Shaw Group announced the acquisition of Chemex Global Inc., a premier engineering, procurement, fabrication, and project management company. The acquisition will expand The Shaw Groupís position in the modular engineering and fabrication market. The merger will also allow offering full-service end-to-end fabrication for various industries.
- Inclination Towards the Steel Framed Modules for Factory or Industrial Applications
- Increasing Innovation and Use of Advanced Technology like BIM for Prefabrication of Modular Construction Projects
- High Growth of Relocatable Modular Buildings Among the Users for Short-term International Events
- Growing Demand for Modular Facilities in the Pharmaceutical and Biotechnology Industry Due to Increasing Need for Innovative Solutions
- Increasing Infrastructural Development Across the Globe Due to Industrialization and Urbanization
- Rapidly Growing Offshore Oil & Gas and Renewable Energy Industry Across the Globe will Boost the Demand for Offshore Structures
- Increasing Demand for Prefabrication of Specific Parts of Buildings like Roof Trusses, Bathrooms, and Toilets
- High Transportation Cost and Limitation in Module Sizes Due to Complexity in the Transportation
- Complicated Approval Process for Modular Production in Some States or Countries
- Requirement of Skilled Labor and Rapid Depreciation of Prefabricated Parts Compared to Standard Site-Built
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Modular Fabrication Service Providers, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Larsen & Toubro Ltd (India), Modulex (India), ATCO LTD. (Australia), Zeton (Canada), Zekelman Industries (United States), Worley (Australia), Turner Industries (United States), Levstal (Estonia), Bouygues Construction (France), Laing O'Rourke (United Kingdom), Balfour Beatty (United Kingdom), PCL Construction (Canada), Skanska (Sweden), Kleusberg Holding Gmbh and Co. Kg (Germany), Abtech, Inc. (United States), Panel Built, Inc. (United States), Lendlease (Australia), M Davis Inc. (United States) and Yanda Group (China) etc.
2. Can we have customized study for Modular Fabrication Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Modular Fabrication Market by 2027?
Analysts at AMA estimates Modular Fabrication Market to reach USD Million by 2027.