modular construction for high rise buildings market is anticipated to exceed a projection of USD 7,734 million by 2027, as per a new detailed report by Market Research Future (MRFR). It is expected to showcase a 5.60% CAGR during the assessment period (2020-2027).
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.
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.
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.
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.
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.
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.
For the scope of research, the report offers a comprehensive analysis of the global modular construction for high rise buildings market.
|Market Size||2027: USD 7,734 Million|
|CAGR||5.60% CAGR (2020-2027)|
|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||
|Key Market Drivers||The influx of capital from foreign direct investments (FDI) in the construction sector|
Frequently Asked Questions (FAQ) :
Global modular construction for high rise buildings market is predicted to grow at a 5.60% CAGR between 2020- 2027.
The modular construction for high rise buildings market is predicted to reach USD 7,734 million by 2027.
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.
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.