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Last edited 26 May 2021
Modular construction market report 2020-2026
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.
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.
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