Modular construction market report 2020-2026
[edit] Introduction
Modular buildings (sometimes referred to as volumetric construction, or prefabricated buildings, although strictly speaking, a prefabricated building need not be modular) are buildings made up of components manufactured on assembly lines in factories then assembled on site in a variety of arrangements.
[edit] Projections
The global modular construction market in 2019 was approximately USD 121 million. It is anticipated to reach around USD 182 million by 2026. The anticipated CAGR for the market is approximately 5% from 2020 to 2026.
Emerging government initiatives encouraging people to invest more in the infrastructure, and rapid urbanisation are the leading drivers in boosting the demand for modular construction. Growing south east Asian countries, such as India, Malaysia and Thailand are currently investing heavily in infrastructure plans laid down by their governments to meet the demands of the population.
As the Asian economies are in their growth phase, there is demand for modular construction from this region.
[edit] Related articles on Designing Buildings Wiki
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
The importance of early engagement
Construction lessons from the Trillium HealthWorks Experience Centre.
Mayors are to be given planning call in powers
Mayors across England will be able to make the most important planning decisions.
The Master Builder: William Butterfield and his times. Book review.
Why construction can't afford to ignore the skills gap.
Building Safety Regulator, 19 August
Gill Kernick appointed Independent Chair of Residents’ Panel.
Connecting knowledge, technology and conservation
Building competence for the future of built heritage.
Building Regulations and Building Safety Act
CIOB publishes free advice for non-domestic clients.
Building Safety Newsletter from MHCLG.
An extraordinary record of steel engineering worldwide.
Households living near new pylons to save on bills.
ECA warns growth must not outpace grid capacity or skills.
The role of the client and decision making
CIOB response to built environment professions call for evidence.