Global Modular Construction Market Size is valued at USD 100.1 Bn in 2024 and is predicted to reach USD 179.0 Bn by the year 2034 at a 6.1% CAGR during the forecast period for 2025-2034.
Modular construction is constructing a building in sections that are transported to the job site and assembled there. The structures are constructed in sections and assembled in their final locations. Modular construction causes significantly less disruption to the surrounding area and produces significantly less trash than conventional building methods. Rapid urbanization and industrialization in emerging economies drive the worldwide modular building market. In addition, a larger consumer base will require the market to expand rapidly to meet rising demand.
The industry is driven by government efforts to lessen construction waste and increase the prevalence of environmentally friendly structures. The government's increased spending on R&D for innovative construction solutions is also anticipated to push the prefabricated construction market soon, which is a major driver of the expansion of the modular construction industry. As a result, demand for modular constructions is expected to rise. In addition, key players increased focus on new product development and strategic collaborations led to the growth of the global modular construction market. It drives expansion globally and is expected to boost market expansion in the coming years.
However, preparing for a key project beforehand raises manufacturing investments, which stresses the investment rate for subsequent stage planning and slows down the modular construction market. Furthermore, increasing R&D activities and investments by prominent players are expected to create lucrative growth opportunities in revenue for players operating in the global modular construction market over the forecast period.
The modular construction market is segmented based on type, material, module and end-user. Type segment includes permanent and relocatable. Material segment includes steel, wood, and concrete. By module, the market is segmented into four-sided, open-sided, partially open-sided, mixed modules & floor cassettes, modules supported by a primary structure, and others. The market is segmented by end-user into residential, office, education, retail & commercial, hospitality, healthcare, and others.
The utility industry modular construction category is expected to have a significant global market share in 2022 due to using off-site manufacturing techniques, permanent modular construction sustainably prefabricates single- and multi-story buildings in modular sections. It can be integrated into preexisting structures or constructed from scratch.
The healthcare segment is projected to grow rapidly in the global modular construction market because medical, surgical, clinical, and dental procedures necessitate silence, safety, and cleanliness that modular buildings can only provide. Time and money savings during construction are important, but so are using only high-quality materials and completing projects that will last time. Modular building techniques can provide low-cost, high-quality, and aesthetically pleasing custom-built facilities, especially in countries like the US, Germany, the UK, China, and India.
The North American modular construction market is expected to register the highest market share in revenue shortly. It can be attributed to increased demand from the residential and commercial sectors. The need for prefabricated structures is rising in emerging markets due to the government's efforts to encourage sustainable architecture. In addition, the presence of key market competitors and improvements in modular construction technology fuel expansion in the region's industries. In addition, Asia Pacific is projected to grow rapidly in the global modular construction market, boosted by increasing population, more buildings, a more robust construction market contributing to this development, and growing financial support from the business.
|
Report Attribute |
Specifications |
|
Market Size Value In 2024 |
USD 100.1 Bn |
|
Revenue Forecast In 2034 |
USD 179.0 Bn |
|
Growth Rate CAGR |
CAGR of 6.1% from 2025 to 2034 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Material, Module, End-user |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; South East Asia |
|
Competitive Landscape |
Laing O’Rourke (UK), Red Sea Housing (Saudi Arabia), Atco Ltd. (Canada), Skanska AB (Sweden), Algeco Scotsman (UK), Kleusberg GmbH (Germany), Katerra (US), Lendlease Corporation (Australia), Bechtel Corporation (US), Fluor Corporation (US). |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Modular Construction Market Snapshot
Chapter 4. Global Modular Construction Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Type Estimates & Trend Analysis
5.1. By Type, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Type:
5.2.1. Permanent
5.2.2. Relocatable
Chapter 6. Market Segmentation 2: By Material Estimates & Trend Analysis
6.1. By Material & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Material:
6.2.1. Steel
6.2.2. Wood
6.2.3. Concrete
Chapter 7. Market Segmentation 3: By Module Estimates & Trend Analysis
7.1. By Module & Market Share, 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Module:
7.2.1. Four-sided
7.2.2. Open-sided
7.2.3. Partially open-sided
7.2.4. Mixed modules & floor cassettes
7.2.5. Modules supported by a primary structure
7.2.6. Others
Chapter 8. Market Segmentation 4: By End-Use Sector Estimates & Trend Analysis
8.1. By End-Use Sector & Market Share, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By End-Use Sector:
8.2.1. Residential
8.2.2. Office
8.2.3. Education
8.2.4. Retail & Commercial
8.2.5. Hospitality
8.2.6. Healthcare
8.2.7. Others
Chapter 9. Modular Construction Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Modular Construction Market revenue (US$ Million) estimates and forecasts By Type, 2021-2034
9.1.2. North America Modular Construction Market revenue (US$ Million) estimates and forecasts By Material, 2021-2034
9.1.3. North America Modular Construction Market revenue (US$ Million) estimates and forecasts By Module, 2021-2034
9.1.4. North America Modular Construction Market revenue (US$ Million) estimates and forecasts By End-Use Sector, 2021-2034
9.1.5. North America Modular Construction Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
9.2. Europe
9.2.1. Europe Modular Construction Market revenue (US$ Million) By Type, 2021-2034
9.2.2. Europe Modular Construction Market revenue (US$ Million) By Material, 2021-2034
9.2.3. Europe Modular Construction Market revenue (US$ Million) By Module, 2021-2034
9.2.4. Europe Modular Construction Market revenue (US$ Million) By End-Use Sector, 2021-2034
9.2.5. Europe Modular Construction Market revenue (US$ Million) by country, 2021-2034
9.3. Asia Pacific
9.3.1. Asia Pacific Modular Construction Market revenue (US$ Million) By Type, 2021-2034
9.3.2. Asia Pacific Modular Construction Market revenue (US$ Million) By Material, 2021-2034
9.3.3. Asia Pacific Modular Construction Market revenue (US$ Million) By Module, 2021-2034
9.3.4. Asia Pacific Modular Construction Market revenue (US$ Million) By End-Use Sector, 2021-2034
9.3.5. Asia Pacific Modular Construction Market revenue (US$ Million) by country, 2021-2034
9.4. Latin America
9.4.1. Latin America Modular Construction Market revenue (US$ Million) By Type, (US$ Million) 2021-2034
9.4.2. Latin America Modular Construction Market revenue (US$ Million) By Material, (US$ Million) 2021-2034
9.4.3. Latin America Modular Construction Market revenue (US$ Million) By Module, (US$ Million) 2021-2034
9.4.4. Latin America Modular Construction Market revenue (US$ Million) By End-Use Sector, (US$ Million) 2021-2034
9.4.5. Latin America Modular Construction Market revenue (US$ Million) by country, 2021-2034
9.5. Middle East & Africa
9.5.1. Middle East & Africa Modular Construction Market revenue (US$ Million) By Type, (US$ Million) 2021-2034
9.5.2. Middle East & Africa Modular Construction Market revenue (US$ Million) By Material, (US$ Million) 2021-2034
9.5.3. Middle East & Africa Modular Construction Market revenue (US$ Million) By Module, (US$ Million) 2021-2034
9.5.4. Middle East & Africa Modular Construction Market revenue (US$ Million) By End-Use Sector, (US$ Million) 2021-2034
9.5.5. Middle East & Africa Modular Construction Market revenue (US$ Million) by country, 2021-2034
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. Laing O’Rourke (UK),
10.2.2. Red Sea Housing (Saudi Arabia),
10.2.3. Atco Ltd. (Canada),
10.2.4. Skanska AB (Sweden),
10.2.5. Algeco Scotsman (UK),
10.2.6. Kleusberg GmbH (Germany),,
10.2.7. Katerra (US),
10.2.8. Lendlease Corporation (Australia),
10.2.9. Bechtel Corporation (US),
10.2.10. Fluor Corporation (US)
Modular Construction Market By Type -
Modular Construction Market By Material -
Modular Construction Market By Module -
Modular Construction Market By End-Use -
Modular Construction Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
