The Modular Construction Market is expected to reach USD 178.39 Billion by 2025 from USD 124.6 Billion in 2018, at a CAGR of 6.04% from 2020 to 2025.
The market is analyzed across four geographical regions, namely, North America (U.S., Canada), Europe (UK, Germany, France and rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), and RoW (Latin America, Middle East, and Africa). Asia Pacific region holds the highest market about XX% of the total market share in 2018. The rising development of the construction industry especially from the Chinese market is driving this market. With a cost-effective, easy to implement, and relocation options Modular Construction is gradually growing across the APAC region. It is expected that at the country level, the China & U.S. account for the majority of the market revenue by 2027.
The Modular Construction Market is segmented on the basis of Types, By Application, By Material, By Module, and by Region. The two Product types in this Market are, Permanent and Relocatable. In which Permanent Type holds XX% of market share in 2018. And is expected to be growing at a CAGR of 5.60% in the forecasted period.
The Modular Construction Market by End User is segmented into Housing, Commercial, Health care, Education, Industrial sub-segment. Amongst all the End User applications, Commercial is estimated to grow at a CAGR of XX% in the forecasted period and it holds the highest market share.
Key companies profiled in the report are Atco, Vinci, Skanska AB, Algeco Scotsman, Kef Kattera, Modular Space Corporation, Dubox, Alta-fab Structure, Wernick Group. The frequent new module launches to stay dynamic in this competitive market is a major driver for the key Modular Construction providers by offering varied module solutions to end users according to their changing demands.