Modular Construction Market for High Rise Buildings Research Report 2019 published By Market Research Future, provides information on Global Modular Construction for High Rise Buildings Industry Size, Share, Trends, Growth and Opportunity Assessment with Regional Analysis and Segmentation By Material (Steel) Building Height (Up to 70 Meters) Module Type (Bathroom Pods) – Forecast Till 2023
Modular Construction for High Rise Buildings Market: Summary
The global modular construction market for high rise buildings is expected to experience a moderate CAGR of 5.60% during the forecast period (2017-2023), as Market Research Future (MRFR) prognoses. Rapid urbanization and industrialization along with a growing concern regarding industrial waste have resulted in this shift in trend to modular constructions, and the market has responded well by catering to the demand.
The market’s openness to foreign direct investment (FDI) has instigated a flurry of investments. According to the United States Economic and Social Commission for Asia and Pacific (UNESCAP), the FDI investment was valued at USD 1.76 trillion in 2015 and had seen a 38% increase from 2014. The retail, along with real-estate, is also experiencing a push from FDI sectors amounting in high demand for modular constructions.
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Governments in emerging nations are introducing various reforms and regulations to propel the infrastructure and real estate market growth. For instance, the Indian government has announced plans for smart cities, rural housing fund and ‘House for All’ under National Housing Board (NHB), an initiative that has given rise to pre-fabricated constructions. Similarly, in China, the government has relaxed the lowest down payment ration boosting the construction market and demand for modular construction significantly.
However, fluctuating raw material prices can act as a major deterrent. The oscillating price of steel, a key component, often leaves builders dangling in mid-air over the investment and profit ratio, resulting in an unstable market.
Competitive Scenario:
Some of the key players profiled in the report include Honeywell International, Inc., ABB Ltd., Emerson Electric Co., General Electric Co., Aspen Technology Inc., and others.
Growing environmental concerns have led to many prominent names to adopt these modular constructions as a part of their initiative to reduce the carbon footprint. Big names such as Google, McDonald’s, and Yale University are acting like torchbearers, and the trend has turned into a coveted one for many burgeoning industries across the globe.
Segmentation:
The modular construction market for high rise buildings can be segmented by material, building height, module type, and region.
Material-wise segmentation consists of concrete, steel, plastic, and wood. Steel holds the preponderant share of the market; a whopping 31.12% in 2016. Steel speeds up the construction procedure by 50% and consequently has become the preferred material for builders across strata. The market for steel seems lucrative and can experience an impressive CAGR of 5.82% during the forecast period.
Based on building height, the market is segmented into up to 70 meters, 70-100 meters, 100-170 meters, 170 meters and above. The up to 70 meters segment accounted for the largest market share by dictating a stupendous 42.76% of the market and touted to lead in the foreseeable future with the fastest CAGR. The 70-100 meters segment is next in line with a recorded market size of USD 888.7 million in 2016.
Modular-based segmentation includes bathroom pods, kitchenette, and others. Bathroom pods are accounted for the maximum market revenue. Kitchenettes are projected to grow with the fastest CAGR.
Regional Analysis:
Region-wise, the modular construction market for high rise buildings is segmented into Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The APAC region, owing to an industrial boom, impressive urbanization, and large population base, is expected to create demand for modular constructions during the forecast period. China is leading the pack by relaxing tax norms and effectively implementing policies to further ensure the prospects of modular structures in the region. The region accounts for 16.23% of the global market and expects to exhibit a CAGR of 5.71% during the forecast period.
North America and Latin America jointly account for 29.42% of the global market share owing to its demand for modular components in high-rises.
Europe has a significant market owing to construction output. The region is currently witnessing an escalation in private housing, commercial, and infrastructure construction coupled with an increase in privately funded projects in education and the health sectors.
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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.
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.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
Continued……
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Share of Top Countries Attracting Fdi Equity Inflows for Construction Development, 2000-2015 (Usd Million)
Table 4 India: Government Investment in Sez
Table 5 Global Modular Construction for High-rise Buildings Market, by Material, 2016-2023 (Usd Million)
Table 6 Global Modular Construction for High-rise Buildings Market, by Building Height, 2016-2023 (Usd Million)
Table 7 Global Modular Construction for High-rise Buildings Market, by Module Type, 2016-2023 (Usd Million)
Continued……
List of Figures
Figure 1 Global Modular Construction for High-rise Buildings Market: Market Structure
Figure 2 Key Takeaways of the Modular Construction for High-rise Buildings Market
Figure 3 Key Buying Criteria of Modular Construction for High-rise Buildings
Figure 4 Research Process of Mrfr
Figure 5 Top Down & Bottom Up Approach
Figure 6 Droc Analysis of Global Modular Construction for High-rise Buildings Market
Figure 7 Fdi Inflows, Asia-pacific, 2010-2015 (Usd Billion)
Continued……
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