Market Scope
Market Research Future (MRFR) asserts that the Modular Construction Market Trend 2020 can reach a size of USD 154.8 Million by 2023-end. MRFR also expects the market to procure a growth rate of 5.95% between 2015 and 2023 (assessment period). We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
COVID-19 Analysis
The COVID-19 impact analysis by MRFR suggests that the pandemic has triggered a short-term and long-term impact on the construction industry. While countries are struggling to find a COVID-19 breakthrough to contain the spread of the novel coronavirus, a number of construction sites have been closed off with construction projects now on hold. Also, various hard-hit regions have suspended almost all the construction activities, and the projects that are continuing can observe delays on account of the collapsing supply chains that have affected the supply of raw materials. Contingency schemes along with government backing are being offered to ensure a smooth run for various aspects of the construction industry, which includes the modular construction market.
Primary Inducers and Main Restraints
In May 2020, P McVey Mobile Buildings supplied close to 40 modular buildings to various hospitals in Enniskillen (Ireland) during the COVID-19 crisis. The facilities provided by the company include temporary buildings for storage, sleeping, toilets and showers as well as additional offices. The COVID-19 impact has been so profound that facilities for health service staff has become inadequate, which drives the need for new Modular Infrastructure. In light of such a situation, various companies are looking for opportunities that can benefit people in need and the market as well.
Market Segmentation
Material, construction, product and application are the main segments based on which the market study has been performed in the report.
The materials listed are concrete, steel, plastic, wood, and others. The market is dominated by the concrete segment, having seized the largest share of 33.70% in 2016, and value of USD 35.1 Million. The segment can also expand at the highest expansion rate of 7.19% over the coming years. The demand for concrete is quite high as it offers excellent stability and strength to modular buildings and is therefore, a common material generally used in modular construction.
Construction-wise market review comprises re-locatable modular concrete and commercial permanent modular.
Regional Insight
APAC or Asia Pacific, North America, the Middle East and Africa or MEA and Europe are the top markets for modular construction considered in the analysis by MRFR.
APAC is at the top of its game, having claimed the largest share of 46.30% and holding a value of USD 48.2 million in 2016. The rapid surge in industrialization, rising number of urbanized people and the increasing financial status are some of the prime growth boosters in the regional market. China ranks among the top markets in the region, backed by the government backed policies that aim to exempt sales tax for ordinary housing and reduce the down payment on second house loans. The growth in sustainable and eco-friendly construction along with strong government support also foster the growth of the market in the region.
Notable Competitors
Notable competitors in the worldwide market for modular construction are L&T (India), ACS Group (Spain), Komatsu Ltd (Japan), Kiewit Corporation (U.S.), Skanska AB (Sweden), Taisei Corporation (Japan), System House R & C Co. Ltd (Japan), Balfour Beatty Plc. (U.K.), Bouygues Construction (France), Red Sea Housing Services (Saudi Arabia), to name a few.
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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
