What is Global Modular Building Market?
The Global Modular Building Market is a vast and dynamic sector that encompasses the production and distribution of modular buildings. These are essentially prefabricated sections or modules that are manufactured in a factory setting and then transported to the site for assembly. This method of construction is gaining popularity due to its cost-effectiveness, efficiency, and sustainability. The global market for modular buildings was valued at a significant US$ 115020 million in 2023, and it is projected to reach an impressive US$ 162500 million by 2030. This indicates a steady Compound Annual Growth Rate (CAGR) of 5.0% during the forecast period from 2024 to 2030. The residential sector is the largest consumer of modular buildings, accounting for 62% of the total market. This is due to the rising demand for affordable and sustainable housing solutions worldwide.
Stationary Tiny House, Mobile Tiny House in the Global Modular Building Market:
The Global Modular Building Market is segmented into two main categories: Stationary Tiny Houses and Mobile Tiny Houses. Stationary Tiny Houses are permanent structures that are built on a fixed foundation. They are typically used for residential purposes and are popular for their compact size, affordability, and minimal environmental impact. On the other hand, Mobile Tiny Houses are portable structures that can be moved from one location to another. They are often used for recreational purposes, temporary accommodation, or as a cost-effective solution for housing shortages. Both types of tiny houses are part of the growing trend towards minimalism and sustainable living, which is driving the expansion of the Global Modular Building Market.
Residential, Commercial, Industrial in the Global Modular Building Market:
The Global Modular Building Market finds its applications in various sectors including Residential, Commercial, and Industrial. In the Residential sector, modular buildings are used to construct affordable and sustainable homes, apartments, and other living spaces. They offer a quick and cost-effective solution to housing shortages and are particularly popular in urban areas where space is at a premium. In the Commercial sector, modular buildings are used for offices, retail spaces, hotels, and other business premises. They offer a flexible and scalable solution that can be easily adapted to changing business needs. In the Industrial sector, modular buildings are used for warehouses, factories, and other industrial facilities. They offer a durable and efficient solution that can withstand harsh industrial conditions.
Global Modular Building Market Outlook:
Looking at the market outlook for the Global Modular Building Market, it's clear that this sector is on a growth trajectory. In 2023, the market was valued at a substantial US$ 115020 million. Fast forward to 2030, and it's projected to reach a whopping US$ 162500 million. This represents a Compound Annual Growth Rate (CAGR) of 5.0% during the forecast period from 2024 to 2030. The lion's share of this market is taken up by the residential sector, which accounts for 62% of the total market. This is a testament to the increasing demand for affordable, sustainable, and efficient housing solutions.
| Report Metric | Details |
| Report Name | Modular Building Market |
| Accounted market size in 2023 | US$ 115020 million |
| Forecasted market size in 2030 | US$ 162500 million |
| CAGR | 5.0% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | ALHO Systembau GmbH, Atco, Skyline Champion Corporation, Horizon North Logistics, Cavco Industries, Inc, Clayton Homes, Daiwa House, Portakabin, Seikisui House, Vinci, Red Sea Housing, Fleetwood Australia, Kleusberg, Laing O’rourke |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
