Sarasota, FL -- (SBWire) -- 01/25/2019 --Global Modular Construction Market: Overview

Modular constructions are intelligent structures that are built with the help of advanced technology. The construction work is simplified by making different modules of a structure. Work on these modules is done away from the building site and once it is completed they are taken to the site of installation. As these modules can be placed in a variety of styles and configurations there is flexibility in the construction designs.

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Global Modular Construction Market: Growth Factors

Low amount of site disturbance and less waste is generated in factory-controlled modular construction. As compared to conventional constructions the modular constructions take less time thus the projects are completed in less time. Other benefits of modular constructions include increased flexibility, low amount of material waste, reuse, high-grade air quality, low construction schedule, indefinite design varieties, safe construction works, and good-quality construction work. The growing preference towards complex constructions at cheap prices, rapid urbanization and industrialization are factors driving the modular construction market. Increased constructional activities in emerging economies and growing preference for sustainable methods of construction are opening up new opportunities for the modular construction market. Other factors contributing to the growth of the market are increasing investments and supportive government policies. Lack of awareness about the benefits of modular constructions limits the market growth.

Global Modular Construction Market: Segmentation

The market segmentation of modular construction is done on the basis of type, end-use, and material. On the basis of type, the modular construction market is categorized into permanent and relocatable. Based on material, the modular construction market is divided into steel wood, precast concrete, and plastic. In terms of end-use, the market is categorized into industrial, education, housing, commercial, and healthcare.

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Global Modular Construction Market: Regional Analysis

Asia Pacific anticipates holding majority of the market shares of modular construction. Factors such as increasing investments in the construction sector and the growing constructional activities are driving the modular construction market. Increasing construction activities in countries such as Australia, Korea, Malaysia, China, India, Japan, Thailand, and Indonesia contribute majorly to market development. China is expected to be the biggest consumer of the modular construction in Asia Pacific. Following Asia Pacific is North America's modular construction market. Increasing preference for green buildings by the consumers and increasing investments in the commercial real estate are factors driving the modular construction market in North America. The increasing interests of the people for cost-benefit and energy-saving structures are augmenting the growth of the European modular construction market.

Global Modular Construction Market: Competitive Players

Some of the major players involved in the modular construction market include Red Sea Housing, Bouygues Construction, Skanska AB, KLEUSBERG GmbH & Co. KG, Lendlease Corporation, Laing O'Rourke, ATCO, VINCI, Algeco Scotsman, and KEF Katerra, among others.

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Global Modular Construction Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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