IMARC Group has recently released a new research study titled “North America Modular Construction Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the North America modular construction industry?
The North America modular construction market is expected to exhibit a CAGR of 7.5% during 2022-2027.
What is modular construction?
Modular construction is the process of building ceilings, doors, walls, beams, floors, and columns. It assists in improving quality control, ensuring relocation or expansion, reducing construction time, and minimizing waste production. As it is a sustainable and eco-friendly alternative to traditional construction methods, it is increasingly being adopted across the North American region.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the North America modular construction market?
There is currently a significant rise in the number of infrastructure projects across the North American region. This, in confluence with the escalating demand for prefabricated building structures, represents one of the key factors impelling the market growth. Apart from this, the increasing focus on reducing overall cost and time of construction is also driving the market. Furthermore, leading market players are integrating advanced technologies with prefabrication methods like artificial intelligence (AI), 3D printing, and building information modeling (BIM). This, along with the growing prevalence of extreme cold weather in the region,is creating a favorable market outlook.
North America Modular Construction Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Building Systems, LLC, ATCO Ltd., Boxx Modular, Inc. (Black Diamond Group), Mobile Modular Management Corporation (McGrath RentCorp, Inc.), Modular Genius, Inc., Satellite Shelters, Inc., Triumph Modular Corporation, Vanguard Modular Building Systems, LLC, Vesta Modular, and Willscot Corporation.
The report has segmented the market on the basis on region, division, sector and material
Breakup by Division:
Permanent Modular Construction (PMC)
Relocatable Buildings (RB)
Breakup by Sector:
Breakup by Material:
Breakup by Country:
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