NEW YORK, Dec. 3, 2023 /PRNewswire/ — The modular construction market size is forecast to increase by USD 33 billion from 2022 to 2027, at a CAGR of 6.77%, according to the recent market study by Technavio. Technavio has extensively analyzed 15 major vendors, including ATCO Ltd., Bechtel Corp., McGRATH RENTCORP, Fluor Corp., KLEUSBERG GmbH and Co KG, Laing O Rourke, Lendlease Corp. Ltd., Modulaire Group, Red Sea International Co., Skanska AB, THE BOUYGUES GROUP, Amana Contracting and Steel Buildings LLC, ELEMENTS Europe, GUERDON LLC, KOMA MODULAR S.r.o, Kwikspace Pty Ltd., PREMIER MODULAR, STARRCO, Wernick Group Holdings Ltd., and WESTCHESTER MODULAR HOMES.To get detailed insights about the vendor landscape, buy the report
The growth of the market will be driven by the rising demand to eliminate on-site constraints, rising global construction and infrastructure development activities, and improving quality and energy efficiency of modular constructions.
Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
- One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
- Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
- Furthermore, market adoption rates for all regions have been covered.
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The market is segmented by application (residential and commercial), type (permanent and relocatable), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
Segmentation by application (Inclusion/Exclusion)
- The market growth in the residential segment will be significant during the forecast period. A growing number of people in developing countries such as China and India are opting for modular construction due to the ease of construction with economical cost. Besides, the increase in disposable income and the expanding middle-class population are fueling the growth of the segment.
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What are the key data covered in this modular construction market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the modular construction market between 2023 and 2027
- Precise estimation of the size of the modular construction market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the modular construction market industry across North America, Europe, APAC, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of modular construction market vendors
Related Reports:
- The construction market is estimated to grow at a CAGR of 5.3% between 2022 and 2027. The size of the market is forecast to increase by USD 1,123.8 billion.
- The smart buildings market is estimated to grow at a CAGR of 9.73% between 2022 and 2027. The size of the market is forecast to increase by USD 46,123.2 million.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Application
- market Segmentation by Type
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
