ReportsnReports published a research report on “Modular Construction Market” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2025.
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The Global Modular Construction Market size is projected to grow from USD 85.4 Billion in 2020 to USD 107.9 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.7%.
Top Companies Profiled in the Modular Construction Market:
- Laing O’Rourke (UK)
- Red Sea Housing (Saudi Arabia)
- Atco Ltd. (Canada)
- Skanska AB (Sweden)
- Algeco Scotsman (UK)
- Kleusberg GmbH (Germany)
Permanent modular construction (PMC) is an innovative building technique that utilizes offsite manufacturing methods to prefabricate single and multi-story structures in modular sections on the grounds of sustainability. PMC can be assemble into an existing structure or built to stand independently.
In modular construction, buildings are typically constructed with a steel frame, steel, cold form steel wall panels, and hot-rolled steel framework. In terms of material consumption, steel accounts for the largest share in the modular construction market. It is known for its strength-to-weight serviceability. Steel frames offer numerous advantages over wood framed relocatable buildings.
Office includes official & administrative buildings. Modular construction offers fully functional, and portable office space which can easily be modified if and when required. Companies are increasingly demanding modular offices as it doesn’t disrupt the ongoing working environment and at the same time is requires less time on-site construction, compared to traditional construction.
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