Market Research Future - Premium Research Reports Modular Construction Market Forecast - 2022 | Page 2

Market Highlights Modular construction is prefabricated buildings that are manufactured in a plant. It offers significant advantages compared to conventional buildings such as cost effective, flexibility, shorter time to completion amongst others. The Modular Construction Market is driven by the growth in construction and infrastructure industries. With the rising industrialization, the need for time saving construction methods are required, which has widened the scope of modular construction. Modular construction gets rid of jobsite issues such as access routes and traffic or security and storage of materials. Factories are typically located next to shipping hubs, aiding the flow of materials while reducing shipping costs. It is thus, a cost effective method of prefabricated construction. Furthermore, this kind of construction is highly dependent on the applications such as commercial, residential, infrastructure among others. With rapid industrialization in APAC region, the demand for infrastructure has gone up. This has fueled the demand for modular construction in the region. APAC is the fastest growing market for modular construction with a market size of USD 36.1 million by 2022. Key Players in Modular Construction Market             Komatsu Ltd. Kiewit Corporation ACS Actividades de Construcción y Servicios S.A. Balfour Beatty Skanska AB Larsen & Toubro Limited Red Sea Housing Services System House R & C Co., Ltd. Taisei Corporation Balfour Beatty Plc Bouygues Construction Laing O’Rourke Julius Berger Nigeria Plc Tel: [phone] [email protected]