06-Feb-2020 | Facts and Factors
Facts and Factors have authored “Modular Construction Market By Materials (Steel, Wood, Precast Concrete, Plastic, Others), By Type(Permanent and Re-locatable) and By End-Users (Industrial, Education, Housing, Commercial and Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026”. Based on our analysis, the global Modular Construction Market in 2019 is approximately USD 121 Million and is anticipated to reach around USD 182 Million by 2026. The anticipated CAGR for the Global Modular Construction market is around 5% from 2020 to 2026.
Modular Construction is the modern time construction trend in which any building or structure building is re-constructed again, away from the original location using the same materials and objects, under some controlled conditions in half the time required for the original one to be built up. That particular structure or building is basically reproduced like arrangeable parts and these parts are re-assembled at the actual location, which gives an idea about the design, structure, and specifications easily. These arrangeable parts can be used in various ways like moveable toilets, partitioned rooms in co-working offices, recreational rooms at any public gathering in rural areas, etc. These arrangeable parts are arranged such that they are supported on their own and don’t have to be dependent on any external factor rather than its own structural parts.
Browse the full “Modular Construction Market By Materials (Steel, Wood, Precast Concrete, Plastic, Others), By Type(Permanent and Re-locatable) and By End-Users (Industrial, Education, Housing, Commercial and Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026” report at https://www.fnfresearch.com/modular-construction-market
Emerging government initiatives in encouraging people to invest more in the infrastructures and rapid urbanization are the leading drivers in boosting the demand for modular constructions. Growing south east Asian countries like India, Malaysia, Thailand are currently investing heavily in the infrastructural plans laid down by the governments to meet the demands of the growing economical population. However, the fluctuation charges of logistics on a daily basis and numerous reasons for fuel or currency rate fluctuation leads to loss or gain of profits. But even after facing such restrains, the Modular Construction market has many reasons for its growth as many large companies across the globe are adopting modular construction due to its numerous benefits from cost savings to build time.
Steel is seen dominating in 2019 due to its numerous benefits of being efficient, safe and durable against various things like fire and being sustainable to the environment. Due to this, more and more people are demanding their homes to be constructed through this technique of modular construction as people are more emotionally attached to their permanent homes and are not ready to change their homes more often. That is the reason why the housing sector has seen a tremendous increase and continues to grow in this new trend of modular construction.
As the Asian economies are in their growth phase, there is a huge demand for modular construction from the Asia Pacific region. Countries like India, Malaysia, Thailand that counts in the top rank among the countries in their growth rate has a huge demand for such modular construction in their countries. This will help them to save their money as well as complete the work in less time. And also help in saving the environment by accepting a sustainable option.
This report segments the Modular Construction market as follows:
Global Modular Construction Market: By Material Segment Analysis
Global Modular Construction Market: By Type Segment Analysis
Global Modular Construction Market: By End-Users Segment Analysis
Global Modular Construction Market: Regional Segment Analysis
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