Latest Developments
Rising demand for construction in Asia-Pacific can mainly be attributed to the increasing amount of government funds channeled into the sector in Australia and the opportunities created in India by government initiatives, as well as increasing demand from earthquake-prone areas like, Japan, Mexico, etc. These factors are fuelling the growth of the global modular construction market. On the other hand, increased costs in transportation are hindering the growth of the market.
Market Insights
The commercial building segment is poised to account for the largest market share in 2016. This is due to the fact that buildings, such as student residences and hotels, use modular construction, due to attendant factors, such as the economies of scale available from many similar-sized modules and the particular benefit of reduced site construction time. Relocatable housing is likely to be the fastest-growing segment during the forecast period, due to the increasing need for relocatable buildings, especially in disaster-prone areas. Among regions, North America is estimated to dominate the modular construction market throughout the forecast period, fuelled by the industry-friendly policies of the government. Asia-Pacific is forecast to exhibit the highest growth rate, due to the rapid increase in government-funded projects for modular construction.
Get the Full Report Here: Global Modular Construction Market
The report provides an in-depth analysis of the modular construction market across different geographical regions, namely, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, along with further country-wise segmentation. It also includes competitive vendor landscape, which considers major companies in detail major companies, such as Balfour Beatty PLC, Bouygues Construction, Guerdon Enterprises LLC, JL Modular Inc., Julius Berger Nigeria PLC, KEF Infra, Kiewit Corporation, Komatsu Ltd, Laing O’Rourke, Palomar Modular Buildings, Red Sea Housing Services, Skanska AB, Larsen & Toubro Limited, System House R & C Co. Ltd, Taisei Corporation, etc.
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About the Author: Pulkit is working as a research associate with Mordor Intelligence, a market research and consulting firm based in Hyderabad, India, with expertise in accurate research and analysis.