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(Construction.IndustryNews247.Com, February 05, 2019 ) Modular construction market led by major players such as Laing O’Rourke (UK), Red Sea Housing (Saudi Arabia), ATCO (Canada), Bouygues Construction (France), VINCI (France), Skanska AB (Sweden), Algeco Scotsman (US), KLEUSBERG GmbH & Co. KG (Germany), KEF Katerra (India), and Lendlease Corporation (Australia).
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Relocatable modular construction led the modular construction market in 2017, in terms of volume; this segment is projected to retain its leading position through 2023. These buildings offer ease of relocation, accelerated depreciation schedules, fast delivery, low-cost reconfiguration, and enormous flexibility. Relocatable buildings are utilized for construction site offices, schools, sales centers, medical clinics, and in any application where temporary space, speed, and the ability to relocate are of vital importance.
The modular construction market is estimated at USD 92.18 billion in 2018 and is projected to reach USD 129.67 billion by 2023, at a CAGR of 7.1%. The increase in concern towards work zone safety, need for reduced construction time and cost, ease of installation and relocation, and supportive government initiatives drive the demand for modular construction.
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Asia Pacific modular construction market is projected to be the largest market between 2018 and 2023. Factors such as the increasing number of new housing units and considerable investments in the infrastructural sector drive the demand for modular construction in this region. The growth of the modular construction market in the Asia Pacific region is also driven by the tremendous growth of construction opportunities in countries such as China, India, Japan, Australia, South Korea, Thailand, Vietnam, and Indonesia.
Target Audience
• Raw Material Suppliers
• Module Manufacturers
• Modular Construction Service Providers
• End Users
• Associations and Industry Bodies
• Government & Regulatory Bodies
More Information on Modular Construction Market with Top Trends, Forecast and Analysis at https://www.whatech.com/market-research/construction/551400-modular-construction-market-estimated-to-reach-us-129-67-billion-to-2023-growth-driven-germany-uae-canada-and-india .
The primary objective of this study is to define, forecast, and segment the modular construction market by type, material, end-use sector, and region. The study also aims at strategically analyzing micro markets with respect to individual growth trends, prospects, and their contribution to the total market.
Breakdown of Primaries
• By Company Type: Tier 1 –35%,Tier2 –40%, and Tier 3 –25%
• By Designation: C Level – 25%, Director Level – 35%, and Others – 40%
• By Region: North America –25%, Europe –20%,Asia Pacific –35%,and RoW* –20%
It also provides detailed information about the key market dynamics that include drivers, restraints, opportunities, and industry-specific challenges. In addition, the study analyzes competitive developments such as contracts, agreements, new projects, partnerships, joint ventures, and expansions in the modular construction market.
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Source: EmailWire.Com 
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