What is Modular Building Market?
Modular building is the process of construction which is built off-site, while the installation is done on site under the proper conditions. The materials required for this kind of construction is the same as required for on-site construction. This kind of building can be used for long-term, temporary or permanent facilities, such as construction camps, schools, classrooms, civilian, military housing, and industrial facilities. The modular building can be fixed at one place, while it can be relocatable also
The market study is being classified by Type (Permanent and Relocatable), by Application (Housing, Commercial, Education, Healthcare and Industrial) and major geographies with country level break-up. According to AMA, the Global Modular Building market is expected to see growth rate of 6.7% and may see market size of USD149670.0 Million by 2025.
Laing O' rourke (United Kingdom), Red Sea Housing (Saudi Arabia), Atco (Canada), Bouygues Construction (France), Vinci (France), Skanska (Sweden), Algeco Scotsman (United States), Kleusberg (Germany), Kef Katerra (India), Lendlease (Australia), Cimc Modular Building Systems Holding (China), Modular Space Corporation (United States), Dubox (Dubai), Kwikspace Modular Buildings (South Africa), Guerdon Enterprises LLC (United States), Alta-Fab Structures (Canada), Westchester Modular Homes (United States), Wernick Group (United Kingdom), Fleetwood Australia (Australia), NRB (Canada), Koma Modular (Czech Republic) and Hickory Group (Australia) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Clayton Homes (United States), J.D. Irving (Canada), Horizon North Logistics (Canada) and Art?s Way Manufacturing (United States).
There are a number of companies which compete directly with each other, such competition may put pressure on the margins for the Company’s products. In addition, the Company’s future performance might be adversely impacted by new entrants to its markets. Research Analyst at AMA predicts that United States and Canadian Manufacturers will contribute to the maximum growth of Global Modular Building market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Modular Building market by Type, Application and Region. On the basis of Type, Relocatable are dominating the market in the year 2019 where as Permanent stood as second largest market share.
On the basis of application, Housing segment is dominating the market in the year 2019
On the basis of geography, the market of Modular Building has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing urbanization
- Increasing demand for buildings at affordable costs
- Rising support from government regulations and policies
- Relocatable modular buildings are currently in demand as they can be reused multiple times and transported to different sites
- Metropolitan areas are accepting the modular building as the communities are not disrupted by on-site construction
- Growing consumer preference for green buildings.
- Mobility property of the modular house
- Lack of awareness among rural people
- Marketing across the supply chain hindering the industry growth
- Growing inclination toward sustainable construction methods and rising construction activities in emerging countries
- High-cost efficiency and sustainability expanding the market
- Pre-defined, structural design might impede the flexibility of modular structure, which is causing a risk to low resell value
- Perception of modular construction in real estate circles and among the general public is very poor
Market Leaders and some development strategies
Red Sea Housing paves the way for rentals market with the acquisition of Dubai based modular rental solutions LLC and Laing O'Rourke sells Australian sleeper arm for £29m in August 2018
Laing O' rourke is collaborating to deliver Crossrail and Red Sea Housing Services, a global leader for modular living and working environments for industrial and residential communities, chose REDAVIA, a global market leader of cost-effective, reliable and clean rental solar power for businesses and communities, to implement its first showcase solar farm in Accra, Ghana.
Key Target AudienceModule Manufacturers, Raw Material Suppliers, Modular Construction Manufacturers, End consumers, Industry associations and experts, Research organizations and consulting companies., Research Institutes, Industry associations and Market research and consulting firm
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