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Modular Construction for High Rise Buildings Market Research Report – Forecast to 2030

Modular Construction for High Rise Buildings Market Research Report Information: Material (Steel) Building Height (Up to 70 Meters) Module Type (Bathroom Pods) : Forecast till 2030

ID: MRFR/CO/4736-CR | February 2020 | Region: Global | 100 Pages         

Modular Construction for High Rise Buildings Market

Globally, the modular construction for high-rise buildings occupies a market value of USD 7734 million during the market research forecast period. It has been found that it occupies a CAGR value of 5.6% during the review period of 2020-2027.

Segmentation

Material (Steel) Building Height (Up to 70 Meters)
Module Type Bathroom Pods

Key Players

  • Walker Modular
  • Euro components Italia SPA
  • PUDA Industrial Co Ltd
  • Old castle Superpods
  • Neopod Systems
  • Intelligent Offsite
  • Interpod Offsite
  • The Pod System
  • B and T manufacturing
  • Elements Europe

Drivers

  • The influx of capital from foreign direct investments (FDI) in the construction sector
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Modular Construction for High Rise Buildings Market Overview


Globally, the modular construction for high-rise buildings occupies a market value of USD 7734 million during the market research forecast period. It has been found that it occupies a CAGR value of 5.6% during the review period of 2020-2027. The incoming sum of money from foreign direct investment concerning the construction sector is the major driving force for the market.


Modular construction consists of some of the components or elements which have been prefabricated at the construction site and are again assembled there. These components assemble individual families along with several families. It provides freedom over the metrics like materials, safeguarding it, logistics, and saves the costs used for expenses. Some of the software used for the construction of the high-rise buildings are designed with the help of computers and building out the information used for modeling. It will help in designing the processes and giving some of its part for the construction of the period. Australia's famous Soho Tower was constructed which consists of 21 levels of buildings.


COVID 19 Analysis


The outbreak of the COVID augmented up the opportunity for market growth as, during this period, growth of vaccination zones and hospitals was necessary. China is the leading zone for the market basically according to the situation. The construction of hospitals has taken place in a speedy manner where serious patients can be treated on time. The demand for cranes, jigs, and various other tools for piling up the modules and setting up the consumer base for constructing the high tower buildings was much more beneficial during this time.


Competitive Landscape


The competitive landscape reveals the comprehensive profile of these key players who access their present position of modular construction for high-rise buildings. It also gives information about the segmental share, yearly turnover, size expansion strategies, launching of new products, R and D activities along with M and A research work, the SWOT analysis is done. Some of the market players include



  • Walker Modular

  • Euro components Italia SPA

  • PUDA Industrial Co Ltd

  • Old castle Superpods

  • Neopod Systems

  • Intelligent Offsite

  • Interpod Offsite

  • The Pod System

  • B and T manufacturing

  • Elements Europe

  • and many more


Market Dynamics


Drivers


The rise in size expansion of the Construction industry along with the rise in popularity of modular construction systems are the major driving forces for modular construction for high-rise buildings market growth. Construction of more high-story buildings in the urban areas pushes up the company headquarters for fulfilling the need for modular construction. An increase in several sustainable buildings rises and gives new opportunities for the market size in the upcoming years. Creating some of the special zones for construction invites the number of big companies which helps in raising the economic conditions and thus driving up the market growth. As per the United States, Economic and Social Conditions for the Asia Pacific region provides FDI approvals which help raise the demand for constructing modular projects. Development of modular growth in urban areas and increase in housing facilities facilitates the rise of modular construction for high-rise buildings market size.


Opportunities


Rules from the government and his law for attaining the construction of high tower buildings and developing certain financial zones open the chances for setting up of more high rise buildings. Adopting a good construction method encourages growth. Constructing at low costs increases the demand. Hotel rooms are being piled on-site for completing the projects at a faster pace. Preconstructed elements lead to the reduction of the costs and completion of it on site.


Challenges


The absence of proper labor becomes the challenging factor.


Cumulative Growth


During the market forecast period maximum growth took place.


Restraints


Shortage of trained people restraints up the market size. Moreover, variation in the prices of the raw materials so used for construction deteriorates the market growth.


Market Segmentation


By type


Based on material, the modular construction for high-rise buildings industry has been divided into steel, concrete, plastic, and wood. Here, the steel segment dominates the whole market during the market forecast period. It generates maximum funds and a large economy till 2023. This segment is of high preference. Based on building height, the modular construction for the high-rise buildings market has been segmented up to about 70metre, 70-100metre, 100-170metre, and more than 170 meters. The 70 meters division extends to about 42.76% modular construction for high-rise buildings market share and will dominate the society. Based on the module, the industry is being divided into kitchenettes, pods for bathrooms, and many more. The segment for bath pods covers maximum revenue which owes to inclination towards applying strategy towards the construction of the companies.


By technology


Technology increased the flexibility rate and made the usage of the low waste volume of the materials. Technology forced the government to adopt certain methods for constructing housing units. It made it necessary that the construction should be carried out in a green environment which improved the qualities of the buildings. It led to less carbon dioxide emissions and conserving more energy leads to investing from the venture of so-called capital firms. Technology has prompted sustainable buildings that have steered up the development of zero-green energy buildings along with the key players investing much more for familiar people. Some of those buildings are run by solar power and batteries. 


Regional Analysis


The Asia Pacific is the most dominant segment due to market growth. Here growth takes place due to the rise in population rate, urbanization, and industrialization. It holds a modular construction for high-rise buildings market value of 5.71% CAGR during the forecast period. It owes to the replacement of taxes and application of some of the friendly policies of the business. The Asia Pacific region is followed by China and the Japanese region. The European region covers a large market share which owes to the increase in funding activities for both healthcare units and also for education units. Modular construction in the European region leads to the building of safe and reliable buildings for the medical sector.


Recent Developments



  • Old castle Sure Pods have manufactured pods for the bathroom. It requires easy Installation in dormitories, assisted living facilities, and thus projects in the commercial sector.


Report Overview 


Its analysis about the segments and the sub-segments of the market is expanded into four regions such as America, European region, some of Asia Pacific region along with the Middle East and African region. The report explains the scope of research activities and the modular construction taking place over there. The report signifies and tells about the present and the future modular construction for high-rise buildings market growth. It also reveals the unbiased growth taking place in the market. The report makes a good analysis and gives a deep understanding about the marketing trends, it gives information about the events taking place in the global market. This helps in the Construction up of high-rise buildings. It gives information about the historical data and the interconnection between the historical significance and market dynamics. It also signifies new and right market projections occurring in the modular construction for high rise buildings industry.


From the MRFRs report, you will notice the segmental analysis of the construction market. It gives details about the building height, the module type, and the region the market is spread to. The report so helps the participants of the industry and gives informed and good decisions about the growth and size expansion. It gives details about those users that will come across and signifies the driving forces, marketing trends, and the market opportunities along with the restraining factors that influence the market during the review period. Soon the market will see a great boom.



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2027: USD 7,734 Million
  • 2030 : Significant value
  •   CAGR   5.60% CAGR (2022-2030)
      Base Year   2021
      Forecast Period    2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   by Technology, by Application, by Material
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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.,
      Key Market Opportunities

  • Fastest growth in construction industry
  • Increased popularity of such systems
  •   Key Market Drivers   The influx of capital from foreign direct investments (FDI) in the construction sector


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    Frequently Asked Questions (FAQ) :

    Global modular construction for high rise buildings market is predicted to grow at a 5.60% CAGR between 2022- 2030.

    The modular construction for high rise buildings market is predicted to reach USD 7,734 million by 2030.

    Asia Pacific will lead the global modular construction for high rise buildings market.

    Rising FDI in construction and minimized construction wastage are the key factors driving the global modular construction for high rise buildings market growth.

    Key contenders profiled in the global modular construction for high rise buildings market include PUDA Industrial Co., Ltd., Walker Modular, Interpod Offsite, NeoPod Systems, Elements Europe, B&T Manufacturing, Intelligent Offsite, The Pod Company (Speed House Group Company), Eurocomponents Italia S.P.A., and Oldcastle Surepods.

    The MRFR makes a combination of both primary as well as secondary resources. From primary data, you will know about interviewing the industrial stalwarts. It gives ideas about the secondary research which is formed by collaborating the white paper with the annual report of the key players. Some of the industrial analysts use several approaches for validating the findings of the reported work. The report consists of several news articles, the present market trends, and the future role of the market. It provides all the necessary information about the future understanding of the market clients. The industrial key players make absolute decisions based on their insight.

    Global Modular Construction for High Rise Building Market: Competitive Landscape


    The global modular construction for high-rise buildings market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality services, to survive and succeed in an intensely competitive market environment.


    In 2017, Oldcastle SurePods was one of the leading players in the market. The company is engaged in designing and installing custom, ready-to-install bathroom pods for hotels and multi-unit residential projects and supports commercial projects in the hospitality, multi-family apartments, dormitories, and assisted living markets. The company has historically targeted growth across all business divisions in both developed and emerging regions, making strategic bolt-on acquisitions each year. After a brief break from acquisitions after the financial crisis, CRH has resumed making acquisitions, making its biggest deal yet in 2015 after purchasing cement facilities from rivals Lafarge and Holcim to boost its production capacity and geographic reach.


    Speed House Group Company, held the second position regarding market share, in 2017. Speed House is a diversified Group, involved in Manufacturing and contracting activities for prefabricated buildings and manufacturing bathroom pods as well as kitchen pods. The company is also dealing with the offsite construction of lightweight steel houses, production of GRC as well as building material supply for the UAE market. The company focusses on leveraging its investments, technical expertise, and resources to gain a strong market position. The company sees its key strategy as focusing on expanding its manufacturing capabilities to enhance efficiency and identifying new paths to enhance performance and generate revenue through diversified sectors, geographies, products and by contract.


    Walker Modular acquired the third spot in the market. Walker Modular is Europe’s Leading designer, manufacturer and primary supplier, engaged inbuilt bathroom pods to suit all environments. Walker Modular has supplied more than 150,000 bathroom pods and specializing in the unique Marine Grade Composite bathroom pod that provides a single one-piece structure. The company sees its key strategy as investing in research and product development. It has been able to expand its prefabricated construction capabilities and come up with prefabricated structures to cater to the changing requirements of construction industry.


    PUDA Industrial Co., Ltd is one of the most competitive players in this market. PUDA is the largest manufacturer and the top brand of prefabricated bathroom pod in Taiwan. The company has specialized in the customized bathroom pod by using advanced manufacturing technology, unique R&D planning, leading-edge design and assembly techniques, to lead the way in the production of high volumetric customized prefabricated bathroom solutions. The company believes in strengthening its presence in Taiwan. It has taken up many projects across commercial, industrial, and residential construction applications in Taiwan suiting the Indian construction scenario. This further has enabled them to create a brand identity for themselves in the country.


    Elements Europe stood at the 5th position in the global modular construction for high rise building market. Elements Europe is an established market leader in modern methods of construction and engaged in providing clients with the modular construction, traditional construction, manufacturing and property development by being a part of The Pickstock Group of companies. The company delivers building systems such as room modules, bathroom pods, and light steel frame facades and structures, and steel fabrications to the construction industry.


    The global modular construction for high rise building market is characterized by the presence of global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for the vendors to provide cost-efficient and high-quality product and services, to survive and succeed in an intensely competitive market environment.