Modular Construction Market to Experience 6.5% CAGR during 2023-2030; Acquisitions and Partnerships by the Key Market Players to Progress Market Growth

The global modular construction market size was USD 79.92 billion in 2022 and is projected to grow from USD 84.48 billion and reach USD 131.58 billion by 2030, exhibiting a CAGR of 6.5% during the forecast period. “Modular Construction Market Size, Share & COVID-19 Impact Analysis, By Type (Permanent Modular Construction and Relocatable Modular Construction), By Material (Wood, Steel and Concrete) By Application (Commercial, Healthcare, Education & Institutional, Hospitality, and Others), and Regional Forecast, 2023-2030”. Due to their many advantages, such as less waste, increased durability, lower prices, environmental friendliness, and flexibility, modular building solutions are becoming more popular among housing giants. As it takes less time to complete, modular building construction is quicker than traditional construction. Other benefits of modular structures include increased flexibility, improved air quality, and quicker construction.

COVID-19 Limited the Possibilities for New Building Activities

Significant fiscal harm has been brought on by COVID-19. As migrant workers are severely impeding construction activities worldwide, nationwide lockdowns have halted construction and had an effect on this labor-intensive industry. In India, China, the U.S., Italy, Israel, the U.K., and other nations, it has resulted in a total economic shutdown that has had a major impact on businesses across all industries. As a result, there has been a sharp drop in the number of new residential and non-residential constructions, which has decreased the demand for modular building.

Etex Group To Buy The Majority Share Of E-Loft

announced in January 2021 that Etex Group would buy the majority of e-Loft. This French off-site building company provides solutions in the single-family modular housing, modular multifamily residential complexes, and custom-designed buildings using 3D wood technology. This acquisition is anticipated to improve Etex Group's modular building industry.

Building More Infrastructure in Fast-Growing Economies to Drive the Market Development

Growing infrastructure spending as a result of increased industrialization and urbanization in developing nations like China, India, and Vietnam is anticipated to fuel the market for modular building. Additionally, increasing investments in business real estate are anticipated to boost the prefabricated construction market's revenue and increase modular construction market growth. For instance, according to secondary sources, industrial property leasing in India increased by 30% in the first quarter of 2022, with the leased area being around 60 million square feet.

However, strategic project pre-planning raises manufacturing investments, which lays strain on the rate of investment for subsequent stage planning and slows down the market growth.

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Competitive Landscape

KEF Collaborates with Katerra To Strengthen Market Position and Growth

The leading suppliers in this industry are concentrating on mergers and acquisitions. For instance, KEF Katerra is a partnership between Katerra and KEF Infra that aims to improve their services and product offerings as well as broaden their geographic reach. They are also looking for ways to offer inexpensive, environmentally friendly items. To meet unique client needs, businesses are also putting more of an emphasis on customization and energy efficiency. For instance, Blu Homes offers unique home layouts, styles, and finishes. Sources claim that they offer homes with modern features, such as thermal insulation and eco-friendly water fixtures, that are 40% more energy-efficient.

Notable Industry Development:

• February 2020: Algeco Group acquired Net Modular (“NET”) Australia. NET specializes in premium modular building designs for schools. The acquisition will further strengthen Algeco’s presence in the education sector in Australia.

List of Key Players Profiled in the Report

• Guerdon Modular Buildings (U.S.)


• Laing O'Rourke (U.K.)


• ATCO (Canada)


• Red Sea International Company (Saudi Arabia)


• Bouygues Construction (France)


• VINCI Construction Grands Projets (U.K.)


• Skanska AB (Sweden)


• Algeco (U.K.)


• KLEUSBERG GmbH & Co. KG (Germany)


• Katerra (U.S.)


• Lendlease Corporation (Australia)

Further Report Findings

• Over the forecast period, the modular construction market share in the Asia Pacific region is anticipated to increase at the fastest rate. The regional market is anticipated to be driven by expanding building activity as a result of increased demand from the residential and commercial sectors. In developing nations, the demand for modular buildings is also rising as a result of rising government attempts to encourage eco-friendly housing.


• Prefab building is anticipated to increase in the U.S. due to rising demand for modular engineering in a number of industries, including healthcare, education, and multi-family housing. Additionally, general contractors in the US use modular construction to create superstructures to meet mechanical, electrical, and plumbing needs.


• In Europe, it is also anticipated that market expansion will be a result of government initiatives in the U.K. For instance, the U.K. government adopted regulations to quicken the pace of construction projects and allocated cash for home construction to encourage creative land development for housing, including modular developments.

Table of Segmentation