A recent report published by Infinium Global Research on modular construction market provides in-depth analysis of segments and sub-segments in the global as well as regional modular construction market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional modular construction market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global modular construction market. According to the report, the global modular construction market is projected to grow at a CAGR of 8.2% over the forecast period of 2019-2025.
The global modular construction market is expected to experience rapid growth in the coming years. Growth in infrastructure investment and rapidly expanding construction sector are key factors contributes to the growth of the modular construction market. Additionally, increasing demand for modular constructed buildings from institutional, healthcare, industries, and commercial sectors are expected to drive the growth over the projected period.
Furthermore, advantages such as fewer materials waste, less material exposure to inclement weather, safer construction, and built to code with shorter build times have a positive impact on the global modular construction market. Modular construction saves up to 35% on the initial construction costs like labor and material. Moreover, supportive government regulations and policies are also triggering market growth during the forecast period. However, the lack of transportation service is expected to hamper the growth of modular construction market. Furthermore, growing inclination toward sustainable construction methods creating opportunities for the global modular construction market.
Geographically, Asia-Pacific dominates the global modular construction market over the forecast period. The rising demand for eco-friendly construction, expanding support from government and massive investments in the construction industry for infrastructural development are some factors responsible for the growth of the market in the Asia-Pacific region. The government of India plans to build 50 million homes and more than 90 smart cities under smart cities mission. Furthermore, India, China and other countries in Asia-Pacific are investing significantly in the infrastructural development. China is anticipated to be the major market for modular construction in the region. Moreover, increasing inclination towards green buildings drives the growth of the North America modular robotics market. Europe is anticipated to hold maximum share in the modular construction market owing to the developing interest in cost-benefit and energy-saving construction.
The report on global modular construction market covers segments such as type, material, and end-user. On the basis of type, the sub-markets include permanent, and relocatable. On the basis of material, the sub-markets include steel precast concrete, wood, and plastic. On the basis of end-user, the sub-markets include housing, education, commercial, healthcare, and industrial.
The report provides profiles of the companies in the market such as CIMC Modular Building Systems Holdings Co.Ltd, Lendlease Group, KEF Katerra, KLEUSBERG GmbH & Co. KG, Algeco Group, Skanska AB, Vinci SA, Bouygues S.A., ATCO, Red Sea International, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of modular construction market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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