Modular Construction Market Analysis, and Business Future Growth by 2027

Rahul Gautam

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.

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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

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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.

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Rahul Gautam
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