𝙈𝙤𝙙𝙪𝙡𝙖𝙧 𝘾𝙤𝙣𝙨𝙩𝙧𝙪𝙘𝙩𝙞𝙤𝙣 𝙈𝙖𝙧𝙠𝙚𝙩: 𝘼 𝙁𝙖𝙨𝙩𝙚𝙧 𝙖𝙣𝙙 𝙀𝙛𝙛𝙞𝙘𝙞𝙚𝙣𝙩 𝙒𝙖𝙮 𝙤𝙛 𝘾𝙤𝙣𝙨𝙩𝙧𝙪𝙘𝙩𝙞𝙤𝙣 𝘽𝙪𝙞𝙡𝙙𝙞𝙣𝙜

Modular construction is an innovative construction method that involves building structures in separate modules or sections off-site. The modules are typically constructed in a manufacturing unit, utilizing a closely controlled assembly line process.

In modular construction projects, wood or steel framing is typically used for the structure. When it comes to flooring, wood or concrete may be used. In this blog post, we detail the different types of modular construction and the benefits of using them. Also, we shed light on the industry analysis and top segments driving the modular construction market growth.

Types of Modular Construction

There are two main types of commercial modular buildings. Here’s a quick overview of the two:

Relocatable modular buildings: In this modular construction process, the structures are constructed to a high level of completion in a manufacturing plant. As their name suggests, relocatable modular buildings can be transported to different building sites. Also, they can be reused or repurposed several times. This construction type is usually used for medical clinics, sales centers, schools, and construction site offices.

Permanent modular construction: This is an innovative modular construction method that uses offsite, lean manufacturing methods to construct single or multi-story building solutions in deliverable modules. Permanent modular construction modules can be integrated into other site-built projects. Permanent modular construction generates less waste and provides higher quality control compared to projects that use only site-built construction.

Industry Analysis

According to our latest analysis, the market for modular construction is projected to grow at a steady rate. The modular construction market size was USD 92.52 billion in 2022 and is expected to reach USD 160.15 billion, exhibiting a CAGR of 5.7% over the forecast period.

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Benefits of Modular Construction

There are several benefits of modular construction. Below, we’ve detailed some of them:

Saves time: The pieces of modular construction are prefabricated off-site and then assembled on-site after delivery. As such, it reduces the amount of time required for manual labor.

Low building costs: The modular construction process can yield comparatively lower construction and design costs than traditional methods.

Reduces material waste: As all raw materials are used in the prefabrication process, less waste is generated during modular construction. Along with reducing material waste, this can lower the environmental impact of your project.

Besides these, other benefits of modular construction are it eliminates weather delays and saves storage space.

 The Steel Segment is Projected to Dominate the Market

By material analysis, the steel segment accounted for the largest modular construction market share. This is largely because steel offers numerous benefits for modular construction, including robustness and longevity. Also, the high versatility of steel means that it can seamlessly be molded into different forms. Moreover, the lightweight nature of steel makes it easy to transport and assemble modules.

North America is Anticipated to Witness the Fastest Growth

The region’s dominance in the market can be attributed to the significant growth of the construction industry in North America, with a growing emphasis on sustainable and energy-efficient construction practices. The rising popularity of modular construction in the commercial sector, including retail, office, and hotels, is further driving the market’s growth in the region.

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Top Market Players in Modular Construction Market

ACS Group | ALGECO ltd. | Bouygues Construction | CIMC Modular Building Systems | GUERDON, LLC | KATERRA | Laing O'Rourke | Red Sea Housing Services Co (REDSEA) | Skanska

Final Saying

To conclude, modular construction refers to producing standardized components of a structure in an off-site factory. The increased infrastructure spending and rising urbanization and industrialization in developing economies are some of the primary factors driving the expansion of the modular construction market.