Modular Construction Market Size 2017 and Industry Estimated to Rise Profitably with CAGR 5.95% during Forecast Period 2017-2023

Global Modular Construction Market
Global Modular Construction Market Information Report, by Material (Concrete, Steel, Plastic, Wood and Other), by Construction (Permanent Modular, and Relocatable Modular), by Product (Walls, Roofs & Floor, Columns & Beams and Others), by Application (Residential, Commercial, Industrial) and By Region – Global Forecast to 2023

Global Modular Construction Market   – Overview

The Global Modular Construction Market is growing with the moderate pace; mainly due to the increase in the global foreign direct investment (FDI) inflows. According to a recent study report published by the Market Research Future, the global Modular Construction Market is booming and expected to gain prominence over the forecast period growing rapidly .The market is forecasted to demonstrate a decent growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023). Global Modular Construction Market is expected to reach a market size of USD 154.8 million by the end of the forecast period at CAGR of 5.95%.

The Market is going to continue with the same trends of growth during the forecast period. The major drivers will be increasing FDI for construction in Asia-Pacific, significant rise in the number of pop ups, and supportive government regulations and policies. There is seen an increase in the global foreign direct investment (FDI) inflows. The FDI inflows in construction in Asia-pacific region has led to increased construction projects and real-estate development. This along with FDI in retail has pushed the number of retail outlets in the region. This induces the demand for modular construction in the region.

In the construction industry the recent trend shows a significant rise in the number of pop ups, such as music festivals, Halloween stores, and others. This recent trend is inducing the demand in the modular construction industry by digressing into a fresh application of modular construction rather than just meeting the housing needs. The pop up culture is expected to act as a catalyst to the growth of the modular construction industry during the forecast period.

The governments across all regions are seen promoting and developing their construction sector. The emerging nations are the ones which are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market. Such growth is expected to augment the market growth of modular construction. For instance, the government of India announced several major policy initiatives such as the passage of the Real Estate (Regulation and Development) Act 2016, the amendment to the Benami Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration norms for construction companies, and many others to boost the construction industry in the country.

Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1682

Prominent Players in the modular construction include

  • ACS Group (Spain),
  • Skanska AB (Sweden),
  • Komatsu Ltd (Japan),
  • L&T (India),
  • Balfour Beatty Plc. (U.K.),
  • Kiewit Corporation (U.S.),
  • Taisei Corporation (Japan),
  • Red Sea Housing Services (Saudi Arabia),
  • System House R & C Co. Ltd (Japan),
  • Bouygues Construction (France)

Global Modular Construction Market   – Competitive Analysis

Characterized by the presence of several well-established players, along with medium and small players, the global market of modular construction appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, are making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. In order to maintain the position and share in the market, major players have adopted certain strategies. Extensive research in this market has brought to light that expansion is the key strategy adopted by the major players in the global modular construction market. This strategy is widely adopted to spread their geographical presence and achieve operational efficiencies. In addition to this, mergers & acquisitions are strategies adopted extensively by the players with a share of 33.3% to increase the market share and their client base.

For instance Komatsu Ltd. is undertaking various expansions in the year 2015 and 2016 to spread its operation globally. The company has recently acquired Joy Global Inc. (U.S.) to strengthen its market position. Also, Komatsu’s expenditure on R&D has been increasing since 2012. The company is focusing on R&D to develop new technologies in construction segment. Similarly have resorted to expanding their geographical operations out of Spain across the regions of Rest of Europe, U.S, and Asia-pacific.

Global Modular Construction Market   – Segmentation

Global Modular Construction Market is segmented in to 5 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Material         : Comprises – steel, concrete, wood, plastic, and others.

Segmentation By Construction :  Comprises – Permanent Modular, and Relocatable Modular

Segmentation By Product         :  Comprises – walls, roofs & floors, columns & beams, and others

Segmentation By Application    :  Comprises – commercial, residential, and infrastructure

Segmentation By Regions     : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.

Get Complete Report @ https://www.marketresearchfuture.com/reports/modular-construction-market-1682

Global Modular Construction Market   – Regional Analysis

The Asia-Pacific region dominated the global modular construction market in 2016. It is also expected to be the fastest growing region for the modular construction. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. China is one of the leading markets in the Asia-Pacific region. Growing industrialization and increased population, fuel the demand of residential houses. Moreover, the Chinese government issued several favourable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of commercial housing market. Additionally, the rising demand for eco-friendly & sustainable construction and government support, fuel the demand of modular construction market in the region.

 About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact

Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email:sales@marketresearchfuture.com

Media Contact
Company Name: Market Research Future
Contact Person: Akash Anand
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune –
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/modular-construction-market-1682