Modular construction is a term used to describe the use of factory-produced pre-engineered building units that are delivered to site and assembled as large volumetric components or as substantial elements of a building. The modular units may form complete rooms, parts of rooms, or separate highly serviced units such as toilets or lifts. The collection of discrete modular units usually forms a self-supporting structure in its own right or, for tall buildings, may rely on an independent structural framework.

Modular Construction for High Rise Buildings Market Forecast 2023

Modular construction in high-rise buildings market basically refers to the permanent modular construction (PMC) that comes in the form of modules such as bathroom modules, kitchen modules, and room modules, used in the high-rise building construction.

Increasing FDI in construction in the Asia-Pacific region, supportive government regulations and policies, the establishment of SEZs, and minimized construction wastage are expected to have a positive impact on the modular construction for high-rise buildings market. However, the market growth is hampered by fluctuating raw material prices, additional cost, and availability of skilled labor.

The main sectors of application of modular construction are:

Private housing
Social housing
Apartments and mixed use buildings
Educational sector and student residences
Key worker accommodation and sheltered housing
Public sector buildings, such as prisons and MoD buildings
Health sector buildings
Hotels.

How the Construction Market is trending?

The global modular construction for high-rise buildings market is expected to grow at 5.60% CAGR during the forecast period, 2017-2023.

In 2016, the market was led by Europe with 41.13% share, followed by Americas and the Asia Pacific with shares of 29.42% and 16.23%, respectively.

Thousands of modules are manufactured annually in the UK. The largest markets for modular construction are in student residences, military accommodation and hotels, but the health sector is significant as it requires highly complex services and medical installations that can be commissioned and tested off-site.

Market Segmentation

The global modular construction for high-rise buildings market has been segmented based on material, building height, module type, and region. Of all the material, steel accounted for the largest market share of 40.31% in 2016, with a market value of USD 1,311.7 million, which is projected to grow at the highest CAGR of 5.82% during the forecast period. Based on building height, Upto 70 meters segment accounted for the largest market share of 42.76% in 2016, with a market value of USD 1,391.5 million, which is projected to grow at the highest CAGR of 5.69%. On the basis of module type, bathroom pods are expected to show the highest growth of 5.79% during the forecast period.

Key Players

Oldcastle Surepods
Eurocomponents Italia S.P.A.
PIVOTek
NeoPod Systems
Interpod Offsite
B&T Manufacturing
Elements Europe
Speed House Group Company
Intelligent Offsite
PUDA Industrial Co., Ltd.

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