The global modular construction for high rise buildings market is anticipated to exceed a projection of USD 4,734 million by 2023, as per a new detailed report by Market Research Future (MRFR). It is expected to showcase a 5.60% CAGR during the assessment period (2017-2023). The influx of capital from foreign direct investments (FDI) in the construction sector is the primary factor driving the market. Supportive government laws pertaining to the construction of high-rise buildings and development of special economic zones can open up opportunities for market players.
Modular construction comprises of components or elements which are pre-fabricated and later assembled at the construction site. These elements are suited for assembling single-family and multi-family houses. It provides leverage over metrics such as materials, security, and logistics and saves construction expenses. Software such as computer-aided design and building information modeling can assist in the design process and contribute its part in expediting the construction time.
Report Overview
This report allows the user to gain a deeper understanding of the ongoing events and trends in the global market for modular construction for high rise buildings. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the modular construction for high rise buildings market segmented by material, building height, module type, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.
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Segment Overview
By material, the modular construction for high rise buildings market has been segmented into steel, wood, concrete, and plastic. The steel segment is expected to generate maximum revenue for the market till 2023 owing to higher preference of steel. By building height, the market is segmented into Up to 70 meters, 70-100 meters, 100-170 meters, and above 170 meters. The up to 70 meters segment accounted for 42.76% share and likely to continue its dominance during the forecast period. By module type, the market is segmented into kitchenettes, bathroom pods, and others. The bathroom pods segment is anticipated to generate maximum revenue for the market owing to the inclination towards a light-asset strategy of various construction companies. For instance, Oldcastle SurePods has designed bathroom pods for easy installation in dormitories, assisted living facilities, and projects in the commercial sector.
The segments and sub-segments covered in the report are analyzed under four major regions –Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA), with respective country-level market sizing. For the scope of research, the standard definition of the product/service “modular construction” is included in the report. The report discusses and interprets the current and future opportunities of the industry delivering an unbiased growth assessment.
Players Covered
Walker Modular, PUDA Industrial Co., Ltd., NeoPod Systems, Interpod Offsite, B&T Manufacturing, Elements Europe, The Pod Company (Speed House Group Company), Intelligent Offsite, Oldcastle Surepods, Eurocomponents Italia S.P.A., and others are noteworthy players in the modular construction for high rise buildings market. Vendors in the market are competing on quality, costs, and rapid aftermarket service.
The report offers comprehensive profiles on these market players and assesses their current standing in the modular construction for high rise buildings market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, M&A activities, and latest R&D initiatives are outlined in the report.
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Research Methodology
Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.
Analysis Period
- Base Year – 2016
- Projection Period – From 2017 to 2023
- Market Denomination – USD Million
- Conversion Rate – Considered as per the respective financial years
Intended Audience
- Service Providers
- Real Estate Business
- Policy Makers
For the scope of research, the report offers a comprehensive analysis of the global modular construction for high rise buildings market.
Material
- Concrete
- Steel
- Plastic
- Wood
Building Height
- Up to 70 meters
- 70-100 meters
- 100-170 meters
- Above 170 meters
Module Type
- Bathroom Pods
- Kitchenette
- Residential
Region
- Americas; the U.S., Canada, and Rest of Americas
- Europe; Germany, Italy, France, the U.K., and Rest of Europe
- Asia Pacific (APAC); Japan, China, India, and Rest of Asia Pacific
- Middle East & Africa (MEA); Saudi Arabia, UAE, Qatar, Bahrain, and Rest of the Middle East
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