Pune, India -- (SBWIRE) -- 12/23/2019 -- A new report published by Infinium Global Research on "Modular Construction Market (Type - Permanent, and Relocatable; Material - Steel Precast Concrete, Wood, and Plastic; End-user - Housing, Education, Commercial, Healthcare, and Industrial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." Modular construction is a process in which factory-produced pre-engineered building units are delivered to the site and assembled as large volumetric components or substantial elements of the building. The global modular construction market is projected to grow at a CAGR of 8.2% over the forecast period of 2019-2025.

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Factors such as Time Saving Construction Enhances Growth for Modular Construction

Growing investments in infrastructure and speedily developing construction sectors enhance growth for the modular construction market. Factors such as less material waste, reduced material exposure to bad weather, safe construction, shorter build time enhance growth for the modular construction market. Also, modular construction saves up to 35% initial construction cost and labor and material which promotes growth for the modular construction market. Moreover, rising preferences for sustainable construction methods generate opportunities for the modular construction market.

Housing Segment Dominates the Largest Share in the Global Modular Construction Market

According to the analyst, the scope of the market is analyzed on the basis of type, material, and end-user. Based on type the study includes permanent and relocatable. Based on materials the market includes steel, precast concrete, wood, and plastic. The steel segment is accounted for as the largest share-holding segment in the global modular construction market.

Owing to design flexibility, strength, structural integrity, durability, etc. contribute towards the widespread use of steel in the modular construction. Based on end-user the market includes housing, education, commercial, healthcare, and industrial. The housing segment dominates the largest share in the global modular construction market owing to affordability and time-saving factors and growing demand for greenhouses.

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Asia-Pacific Holds a Dominance in the Global Modular Construction Market

Geographically, Asia-Pacific holds dominance in the global modular construction market owing to the rising demand for eco-friendly construction and expansion of support from the government. Also, huge investments in the construction industry for infrastructural development propel the growth of the modular construction market. Plans of the Indian government regarding building 50 million homes and over 90 smart cities fall under the smart cities' mission which generates great opportunities for the modular construction market in the Asia-Pacific region. Europe is projected to grow at a substantial rate holding maximum shares due to its rising interests in cost-benefit and energy-saving constructions.

Major Key Players in the Industry

Based on the analysis of the market the leading companies in the study include CIMC Modular Building Systems Holdings Co. Ltd, Lendlease Group, KEF Katerra, KLEUSBERG GmbH & Co. KG, Algeco Group, Skanska AB, Vinci SA, Bouygues S.A., ATCO, Red Sea International, and other companies. In May 2019, CIMC Modular Building Systems Holdings Co. Ltd. announced its construction project of Hong Kong's first modular building for permanent use. "By building construction projects in Hong Kong, we not only show the local government and the local industry our unique advantages in modular construction technology, but also, we have become more familiar with the city's regulations in design, examination, and approval, acceptance specification," Victor Zhu, general manager of CIMC MBS.

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About Infinium Global Research
Infinium Global Research provides in-depth insight regarding the market, its trends, indicators, and factors that drive and restrain the growth of the market. IGR expertise in the analysis of the market growth using analytical tools, that were also used to analyze the market for the modular construction market. Other than industry automation, IGR also deals in the field of agriculture, food and beverage, aerospace and defense, chemical and materials, healthcare and medical devices, consumer goods and packaging, energy, infrastructure and mining, ICT, semiconductors and electronics and automotive.  

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the modular construction.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.