Pune, Maharashtra -- (SBWIRE) -- 09/06/2023 -- The Latest Study Published by HTF MI Research on the "Modular Construction Market'' evaluates market size, trend and forecast to 2029. The Modular Construction market study includes significant research data and evidences to be a practical resource document for managers and analysts is, industry experts and other key people to have an easily accessible and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges as well as information about the competitors. Some of the Major Companies covered in this Research are Skanska AB (Sweden), Katerra (Switzerland), Laing O'Rourke (United Kingdom), Portakabin (United Kingdom), Modulex Construction (Ireland), Willerby Innovations (United Kingdom), Sliedrecht Modulaire Bouwsystemen B.V. (Netherlands), Module ARK (Poland), Guerdon Modular Buildings (United States), Red Sea Housing Services (United States).

The modular construction market refers to the industry involved in the design, fabrication, and assembly of buildings or structures using prefabricated modular components. In modular construction, a building is constructed using individual modules or sections that are manufactured off-site in a controlled factory environment. These modules are then transported to the construction site and assembled to form a complete building.

The global Modular Construction market size was valued at USD 91.8 Billion in 2023 and is expected to hit around USD 12.6 Billion by 2029, progressing with a compound annual growth rate of 5.8% from 2023 to 2029.

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Qualitative Insights from Study

Market Drivers
- Cost and Time Efficiency
- Sustainability and Environmental Concerns

Market Trend
- Customization and Flexibility
- Off-Site Construction

Opportunities
- Infrastructure Development
- Disaster Relief and Emergency Housing

Market Restraints:
- Limited Awareness and Adoption
- High Initial Investment

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Market Scope / Segment Breakdown
Global Modular Construction market has been analyzed on various dimensions that includes market sizing and share analysis in dollar term as well as by volume* and price. The segments included in the market study are mentioned below which has been reviewed both qualitatively and quantitatively.

Based on the type, the market is bifurcated as Permanent Modular Construction, Relocatable Modular Construction, and On the basis of application, the market is divided as Commercial, Healthcare, Hospitality, Others.

The report covers information regarding competitive outlook including the market share and company profiles of the key participants operating in the global Modular Construction market. Some of the players that are profiled in the study are Skanska AB (Sweden), Katerra (Switzerland), Laing O'Rourke (United Kingdom), Portakabin (United Kingdom), Modulex Construction (Ireland), Willerby Innovations (United Kingdom), Sliedrecht Modulaire Bouwsystemen B.V. (Netherlands), Module ARK (Poland), Guerdon Modular Buildings (United States), Red Sea Housing Services (United States) etc.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

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Research Objective
- To define and describe the Modular Construction segmented by product & service, by application, by end-user, and by region.
- To estimate and forecast the Modular Construction by value in USD Billion.
- To estimate and forecast the market size for various segments with regard to Region Name.
- To profile key players and comprehensively analyze their market position in terms of ranking and core competencies.
- To analyze the markets situation with regard to industry trends, prospects, and contribution to the total market by identifying the high-growth segments of the Modular Construction and provide the competitive landscape.
- To provide industry attractiveness with help of various tools such as the Porter's five force analysis and the PESTEL analysis.

FIVE FORCES & PESTLE ANALYSIS:
In order to better understand Modular Construction market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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