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Modular Construction Market Analysis, and Business Future Growth by 2027

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Rahul Gautam
Modular Construction Market Analysis, and Business Future Growth by 2027

According to the latest report by IMARC Group, titled “Modular Construction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global modular construction market size reached US$ 76.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 109 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027.


Market Outlook:


Modular construction refers to the offsite manufacturing of engineered buildings using standard materials and codes of construction. It occurs simultaneously with site work, allowing projects to be completed in half the time of traditional construction.


Modular Construction Market Trends: 


The global modular construction market is primarily driven by the rising construction activities worldwide. Besides this, with the improved standards of living and inflating incomes, architects and constructors nowadays prefer offsite construction to improve visual aesthetics and enhance structural integrity, design flexibility, security and fire resistance. Furthermore, with the rising environmental concerns, constructors are rapidly opting for permanent modular constructions (PMC) for developing sustainable commercial, industrial and residential complexes.


Modular construction is a cost-efficient option that reduces the demand for raw materials and minimizes the amount of energy expended as it is disassembled, and the modules are relocated or refurbished for new use. Moreover, the advancements in manufacturing techniques and technologically advanced equipment are expected to positively impact the market in the coming years.


Get the FREE PDF Sample Report: https://www.imarcgroup.com/modular-construction-market/requestsample


Modular Construction Market Key Companies: Algeco, Balfour Beatty plc, Bouygues, Etex Group, Guerdon LLC, KLEUSBERG GmbH & Co KG, Laing O'Rourke, Larsen & Toubro Limited, Lendlease Corporation, Red Sea International, Skanska AB and Taisei Corporation.


Key Market Segmentation:


Based on Type:

  • Permanent
  • Relocatable


Based on Module Type:

  • Four Sided
  • Open Sided
  • Partially Open Sided
  • Mixed Modules and Floor Cassettes
  • Modules Supported by a Primary Structure
  • Others


Based on Material:

  • Steel
  • Concrete
  • Wood
  • Plastic
  • Others


Based on End Use:

  • Residential
  • Commercial
  • Education
  • Retail
  • Hospitality
  • Healthcare
  • Others


Geographical Analysis:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa


Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=4288&flag=C


Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape


If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.


About Us


IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.


Contact Us:

IMARC Group

134 N 4th St

Brooklyn, NY 11249, USA

Website: https://www.imarcgroup.com/

Email: [email protected]

Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

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