Dec 20, 2022   SOURCE: BusinessWire

Global Modular Construction Growth Opportunities 2022: End-to-end Services and Digital Technology to Boost Modular Construction's Future Growth Potential - ResearchAndMarkets.com

The "Global Modular Construction Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

Modular construction (MC) is associated with prefabricated or off-site constructed building units, such as walls, floors, rooms, and frames, which are assembled at construction sites. MC involves the production of building units in factories under stipulated requirements, including material standards, manufacturing processes and conditions, and product testing. Its on-site installation involves stringent methods that must comply with construction codes and standards. MC differs from conventional construction in that walls, flooring, and other building fittings are built on-site.

By construction type, the MC market is segmented into permanent MC and relocatable MC. MC material is categorized into wood and non-wood. By end user, the market is segmented into commercial, institutional, public and infrastructure, industrial, and residential. The study focuses on MC that includes module types such as room, roof, wall, and window. It excludes prefabricated products such as kit sets, structures, scaffolding, frames, and formwork.

The COVID-19 pandemic created a shift to and increased awareness of the use of modular buildings and construction. The healthcare industry is likely to remain a key client for the market. Furthermore, the pandemic has influenced occupants' indoor air safety requirements, and the post-pandemic era calls for more efficient construction methods in response to socioeconomic trends such as labor shortage, sustainability, and customer demand. This will require intense collaboration between MC market participants and industry participants in the construction value chain as well as cross-industry participants.

The global MC market is forecast to grow at a compound annual growth rate (CAGR) of 5.5% between 2022 and 2028. Key factors driving MC adoption are time and cost savings in construction, environmental sustainability, strong demand for housing and institutional facilities, and the construction of industrial and economic zones.

The general global recovery from the COVID-19 pandemic will drive economic growth in multiple markets, which will boost construction activities and, in turn, create opportunities for MC participants. The MC markets in North America and Europe are more advanced than the markets in Asia-Pacific (APAC) and the Rest of World (RoW). Awareness and adoption of MC are higher in North America and Europe; nonetheless, APAC and RoW are important growth regions.

Residential and commercial are key end users in the global MC market. MC sales to commercial end users is attributed to the growth of certain sectors, such as hospitality, retail, and restaurants. In 2022, wood constituted 16.3% of the global MC market. By 2028, its revenue share is expected to reduce to 16.1%.

Six growth opportunities are identified in the global MC market, and they focus on end-to-end services, sustainability practices, innovative business models, partnerships, technology convergence, and customers' industry focus.

Growth Opportunities

  • End-to-end Services to Improve MC Reliability
  • Sustainability Practices to Promote MC Use
  • Innovative Business Models to Bring Value to MC Customers
  • Partnerships to Boost MC Outreach
  • Technology Convergence to Advance MC
  • Customer's Industry Focus for Optimum MC Penetration

Key Topics Covered:

1. Strategic Imperatives

  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Impact of the Top 3 Strategic Imperatives on the Modular Construction (MC) Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine™

2. Growth Opportunity Analysis

  • Scope of Analysis
  • Segmentation by Construction Type and Material
  • Segmentation by End User
  • Segmentation by Region
  • Key Competitors
  • Growth Metrics
  • Value Chain Stakeholders
  • Growth Drivers
  • Growth Restraints
  • Forecast Assumptions
  • Revenue Forecast
  • Revenue Forecast Analysis
  • Revenue Forecast by Region
  • Revenue Forecast Analysis by Region
  • Revenue Forecast by Construction Type
  • Revenue Forecast Analysis by Construction Type
  • Revenue Forecast by End User
  • Revenue Forecast Analysis by End User
  • Material Trends and Forecast Analysis
  • Competitive Environment
  • Supplier Capability Matrix

3. Growth Opportunity Analysis: North America

  • Growth Metrics
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast by Construction Type
  • Revenue Forecast by End User
  • Revenue Forecast Analysis
  • Material Trends and Forecast Analysis

4. Growth Opportunity Analysis: Europe

  • Growth Metrics
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast by Construction Type
  • Revenue Forecast by End User
  • Revenue Forecast Analysis
  • Material Trends and Forecast Analysis

5. Growth Opportunity Analysis: APAC

  • Growth Metrics
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast by Construction Type
  • Revenue Forecast by End User
  • Revenue Forecast Analysis
  • Material Trends and Forecast Analysis

6. Growth Opportunity Analysis: RoW

  • Growth Metrics
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast by Construction Type
  • Revenue Forecast by End User
  • Revenue Forecast Analysis
  • Material Trends and Forecast Analysis

7. Growth Opportunity Universe

8. Next Steps

  • Your Next Steps
  • List of Exhibit

For more information about this report visit https://www.researchandmarkets.com/r/dtz3eh