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Modular Construction Market Analysis With SWOT Method, Type, Material, Latest Trends, Key Segmentations, And Forecast By 2029 | USD 139.03 Billion Industry
Based on previous market performance, the Modular Construction market is expected to reach USD 139.03 billion in size by 2029. With a 6.2% CAGR.Modular Construction Market Overview:
Steel modular structures have various advantages in terms of structural integrity, design flexibility, strength, longevity, fire resistance, and less need for repairs and maintenance over the building's lifetime, all of which have contributed to its market dominance.
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Modular building solutions are gaining traction among housing behemoths due to their numerous advantages, including decreased waste, faster construction, cost-effectiveness, environmental friendliness, and flexibility. According to industry experts, modular construction projects can take 30 to 50 percent less time to complete than traditional construction. Because of the custom-made fittings that are developed according to the individual requirements of customers, modular buildings are exceptionally versatile. Infrastructure activities have sprung up as a result of rapid urbanization in order to meet the expanding demand and supply chain gap. AMANA Investments, located in the Gulf Cooperation Council (GCC), plans to establish a platform for seamless offsite building under the DuPod and DuBox brands, resulting in the adoption of innovative manufacturing techniques.
Based on our expert's analysis the players that are leading the market includes: Laing O'Rourke, Red Sea Housing, Atco Ltd., Skanska AB, Kleusberg GmbH and Others.
The whole market is segmented as follows:
Modular Construction Market by Type, 2022-2029 (USD Millions) (Thousand Square Feet)
Permanent
Relocatable
Modular Construction Market by Material, 2022-2029 (USD Millions) (Thousand Square Feet)
Steel
Concrete
Wood
Modular Construction Market by Modules, 2022-2029 (USD Millions) (Thousand Square Feet)
Four-Sided
Open-Sided
Partially Open-Sided
Mixed Modules & Floor Cassettes
Modules Supported By A Primary Structure
Others
Modular Construction Market by End Use Industry, 2022-2029 (USD Millions) (Thousand Square Feet)
Residential
Retail & Commercial
Education
Healthcare
Office
Hospitality
Industry Developments:
On the Gold Coast, Queensland, ATCO Structures & Logistics opened a custom-built manufacturing factory and hire yard facility in October 2019. The cutting-edge facility is the latest in a string of new and modern ATCO facilities, which include factories in Perth and Santiago, Chile, and offer the industry's most advanced manufacturing capabilities as well as access to the world's fastest-growing markets. The new plant will produce schools, libraries, hospitals, construction offices, baby rooms, and athletic amenities, among other modular items.
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Modular Construction Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Modular Construction Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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