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Building Modules Market Expansion Projected To Gain An Uptick During 2…


Source: Building Modules Market Expansion Projected To Gain An Uptick During 2…

Discovered on: 2022-01-12 03:52:01

Building Modules Market Forecast and CAGR

According to the latest report by Fact.MR, the building modules market is projected to show decent growth over the forecast period (2021-2031). Steady growth in demand and sales of modular constructed homes seems to provide a positive outlook to the industry. Moreover, constant demand from the modular construction industry for better and economical homes will act as a constant driver for the sales in the long run.

What is Driving Demand for Building Modules?

Building modules are an integral part of modular construction and its market will grow in accordance with the modular construction activities. Offsite construction of building modules allows for better quality and improved precision in the fabrication of the component. Additionally, sustainable designs which do not have any negative environmental impact is the choice of owners and designers today.

Moreover, reduced completion time, reduced wastage, improvement in overall safety and security are some key features of building modules driving its growth in the market. For instance, offsite building modules can reduce about 80% of the construction activity attributed to the significant decrease in vehicular traffic and site disruption.

Above stated factors coupled with an efficient and cost-effective approach towards modular construction is projected to bolster the growth for building modules.

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Construction Demand to Set the Recovery For Building Modules Sales

Construction activities is set to grow over the next decade owing to the heavy investments in the real sate coupled with high government spending in the infrastructural development. Modular construction is projected to pick up the pace attributed to the concern for lowering the environmental impact, inclusion of work zone safety and favourable government policies.

As per the projection permanent modular construction will continue to dominate the modular construction sector over the forecast period (2021-2031). Additionally, steel modules will be the fastest growing segment in terms of value and volume due to its advantageous features such as durability, fire resistance, strength and structural integrity.

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Key Segments

By Type

By Material

By End-Use

  • Residential
  • Retail & Commercial
  • Educational
  • Healthcare
  • Office
  • Hospitality

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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Who are the Key Manufacturers and Suppliers of Building Modules?

Some of the prominent players in the building modules space are

  • Atco Ltd.
  • Laing O’Rourke
  • Skanska AB
  • Red Sea Housing
  • Kleusberg GmbH
  • Katerra
  • Lendlease corporation
  • Geurdon Modular Buildings
  • Algeco.

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