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The global modular construction market value stood at about USD 63.19 Billion in 2024. The industry is further expected to grow at a CAGR of 12.40% in the forecast period of 2025-2034 to reach a market value of USD 203.38 Billion by 2034. The global modular construction market is experiencing significant growth, projected to reach USD 103.6 billion by 2030, with a CAGR of 6.6% during the forecast period. This growth is driven by the increasing demand for affordable housing, healthcare facilities, and commercial infrastructure. Off-site building activities are becoming more popular due to their cost-effectiveness and reduced construction time. Additionally, urban regions are seeing a surge in modular construction as cities strive to meet the growing population's needs. The continuous investment in these sectors further boosts the market growth, positioning modular construction as a solution for rapid urbanisation.
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The global modular construction market is witnessing significant growth, driven by companies like Skanska, Laing O’Rourke, ATCO Ltd., and Bouygues Construction. Technological advancements such as Building Information Modeling (BIM) and automation are enhancing cost efficiency and sustainability. Urbanization and government support further fuel this trend, making modular construction a viable solution for fast and cost-effective projects. With strategic partnerships and an emphasis on design flexibility, the industry is also well-equipped for disaster recovery and tackling skilled labor shortages, enabling faster project completion.
The modular construction market's expansion is heavily influenced by these companies' ability to adapt to changing demands, including sustainability initiatives and advanced technological solutions. The integration of automation and BIM not only boosts efficiency but also supports urbanization trends and the need for faster, more resilient construction processes. Furthermore, the industry's focus on skilled labor ensures the continued success of modular construction, allowing projects to be completed swiftly without compromising on quality or design flexibility.
Bouygues Construction, based in France, is a leading global player in construction and engineering, specialising in sustainable infrastructure, residential, and commercial projects. Known for its commitment to innovation and sustainable solutions, Bouygues integrates digital tools and modular construction for efficient, environmentally friendly project delivery worldwide.
Balfour Beatty plc, headquartered in the UK, is a major infrastructure group delivering projects across construction, engineering, and services. Focused on innovation, the company integrates sustainable practices, technology, and a collaborative approach to offer cost-effective, high-quality projects in sectors such as transport, energy, and urban development.
Larsen & Toubro Ltd, based in India, is a global conglomerate with expertise in construction, engineering, and technology services. The company leads in diverse sectors, including infrastructure, defence, and power, with a strong emphasis on innovation, sustainable development, and digitalisation, delivering large-scale projects across the world.
Laing O'Rourke, a UK-based multinational, is renowned for its expertise in complex construction and engineering projects, focusing on infrastructure, residential, and industrial sectors. Emphasising technological integration and modular construction, the company is dedicated to delivering projects with efficiency, sustainability, and quality while enhancing workforce skills.
Katerra, a US-based technology-driven construction firm, focuses on revolutionising the building industry through automation and modular construction. By integrating design, manufacturing, and construction, Katerra aims to reduce costs, improve sustainability, and increase efficiency, delivering high-quality projects in residential, commercial, and hospitality sectors worldwide.
Modular Construction Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the Global Modular Construction Market attained a value of nearly USD 63.19 Billion.
The market is projected to grow at a CAGR of 12.40% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 203.38 Billion by 2034.
The rising demand for alternative construction systems, the surging use of modular construction to eliminate on-site constraints, and the robust growth of the commercial sector are the major drivers of the market.
The key trends guiding the market growth include technological advancements, the rising demand for permanent modular construction, and the robust growth of the housing sector.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
By type, the market is bifurcated into relocatable modular and permanent modular.
The various segments based on material considered in the market report are steel, concrete, wood, and plastic.
Based on application, the industry is segmented into Residential, Commercial, Industrial, Healthcare and Educational.
The competitive landscape consists of Bouygues Construction, Balfour Beatty plc, Larsen & Toubro Ltd, Laing O'Rourke, Katerra, Sekisui House Ltd., Red Sea International, Skanska, Premier Modular Limited, LEUSBERG GmbH & Co KG, DuBox, Wernick Group, CIMC Modular Building Systems Holdings Co., Ltd. (CIMC-MBS), Riko Hiše d.o.o, Lendlease Corporation, Modulaire Group, Guerdon, LLC, and Hickory Group, among others.
The permanent modular construction accounted for the largest share owing to the increasing adaption of modular construction techniques in commercial construction activities.
Major challenges in the modular construction market include supply chain disruptions, regulatory hurdles, and skilled labor shortages, which impact production timelines and cost efficiency.
The key opportunity lies in growing demand for sustainable, cost-efficient, and faster construction solutions, driven by urbanization and government support.
The global modular construction market is experiencing significant growth, with the Europe modular construction market holding a substantial revenue share.
The residential modular construction sector has gained significant momentum due to its innovative approach in meeting diverse housing needs.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124