Key Companies Profiled are Guerdon Modular Buildings, Laing O'Rourke, ATCO, Red Sea International Company, Bouygues Construction, VINCI Construction Grands Projets, Skanska AB, Algeco, KLEUSBERG GmbH & Co. KG, Katerra, Lendlease Corporation.

Pune, June 18, 2020 (GLOBE NEWSWIRE) -- The global modular construction market size is projected to reach USD 107.20 billion by the end of 2026. The increasing investment in sustainable and eco-friendly homes will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Modular Construction Market Size, Share & Industry Analysis, By Type (Permanent Modular Construction, Relocatable Modular Construction), By Application (Commercial, Healthcare, Education & Institutions, Hospitality, Others), and Regional Forecast, 2019-2026,” the market was worth USD 64.85 billion in 2019 and will exhibit a CAGR of 6.5% during the forecast period, 2019-2026.

Modular construction has gained rapid popularity in the past decade across the world. The increasing trend of modern infrastructures will lead to a wider adoption of modular construction techniques in several countries across the world. The rising urbanization, coupled with the technological advances in modular construction that have helped fulfil the modern needs, will open up a huge potential for the growth of the market in the coming years. The increasing infrastructure development projects will fuel the demand for modular construction. The growing investment in commercial spaces has given the platform for rapid advances in modular construction; a factor that will also influence the growth of the market in the coming years. Moreover, the constantly rising population in several countries across the world will have a direct impact on the growth of the market in the foreseeable future.

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An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Increasing Number of Company Mergers Will Bode Well for Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions (M&As) have had the highest impact on the growth of the market in recent years. Accounting to the rising demand and adoption of modular construction projects across the world, SMEs are focusing on merging and collaborating with its counterparts. The large scale companies have the liberty as well as funds to acquire SMEs; a factor that has resulted in several large scale M&As in recent years. In June 2018, WillScott Corporation announced that it has completed the acquisition of Modular Space Holdings. Through this company, the company will look to improve its portfolio of modular construction products as well as increase the global consumer range. WillScott’s acquisition of Modular Space will not just help the company but will also have a direct impact on the growth of the overall market in the coming years.

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Asia Pacific to Exhibit the Highest CAGR; Rising Commercial and Residential Sector Will Aid Growth

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to exhibit the highest CAGR in the coming years. The rising urbanization has led to the demand for advanced modular deisgns in infrastructures across the world. The increasing construction and commercial spaces across the world will create several growth opportunities for the companies operating in the market. The rising efforts taken to promote eco-friendly homes and sustainable products will bode well for market growth. As of 2018, the market in Asia Pacific was worth 19.15 billion and this value is projected to increase at a considerable pace in the coming years.

The increasing adoption of smart modular construction techniques in countries such as the United Kingdom will aid the growth of the market in Europe. The lack of skilled labor has led to an increase in the adoption of modular construction methods in this region.

List of Companies Profiled in the Modular Construction Market Report are:

• Guerdon Modular Buildings
• Laing O'Rourke
• ATCO
• Red Sea International Company
• Bouygues Construction
• VINCI Construction Grands Projets
• Skanska AB
• Algeco
• KLEUSBERG GmbH & Co. KG
• Katerra
• Lendlease Corporation

Industry Developments:

July, 2017: RHP Group announced the launch of a new product, ‘LaunchPod’, a modular home that resembles a one-bedroom apartment. The product is described as an innovative solution for people who can't afford social housing.

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Detailed Table of Content

• Introduction
  • Definition, By Segment
  • Research Approach
  • Sources
• Executive Summary
• Market Dynamics
  • Drivers, Restraints and Opportunities
  • Emerging Trends
• Key Insights
  • Macro and Micro Economic Indicators
  • Key Technological Developments
  • Consolidated SWOT Analysis of Key Players
• Global Modular Construction Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Sizing Estimations and Forecasts – By Type (Value)
    • Permanent Modular Construction
    • Relocatable Modular Construction
  • Market Sizing Estimations and Forecasts – By Application (Value)
    • Commercial
    • Healthcare
    • Education & Institutions
    • Hospitality
    • Others (Residential, Religious Buildings and etc.)
  • Market Analysis, Insights and Forecast – By Region (Value)
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • Latin America

TOC Continued...!!!

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