Modular Construction:Cost-effective and Market Size was 104425 M USD

Modular Construction Market Drivers

Modular Construction can shorten the construction time.Manufacturers build modules in indoor facilities that are not affected by the weather. At the same time, dismantling, excavation and foundation construction can be carried out on site. This can translate into shorter delivery times, more savings, faster occupancy and faster return on investment.

Modular Construction can control costs.Modular Construction\'s construction efficiency and ability to control costs, labor, schedule and delivery are stronger, which means that compared with traditional on-site construction, builders can control costs by using modular construction.

Modular Construction is manufactured in a controlled environment and contributes to quality control.Permanent modular buildings need to meet the same building codes and requirements as on-site structures. The modules are manufactured in climate control facilities to protect materials from destructive weather conditions. Precision manufacturing equipment and software, coupled with continuous supervision of the production process, help ensure consistent product quality.

Modular Construction makes the workforce optimized and safe.Construction projects are labor-intensive, and the industry faces ongoing challenges in attracting enough skilled workers. The labor shortage is a long-term problem that will increase the time and cost of many projects. Modular construction helps to optimize the workforce of the project.

By type, Permanent segment accounted for the largest share of market in 2021. By application, the Residential segment occupied the biggest share from 2017 to 2022. Asia-Pacific had the highest growth rate of all regions. The top three companies are Clayton Homes Inc., Laing O-Rourke and Bouygues Construction with the revenue market share of 3.40%, 1.95% and 1.47% in 2020. Clayton Homes (or Clayton) is the largest builder of prefab and modular houses in the United States. Clayton now builds and sells traditional site-built homes and off-site built homes-including manufactured homes, modular homes, CrossMod™ homes, Designer Cottages and PMRVs.