Modular Fabrication Market Drivers, Industry Growth and Opportunities 2027

The Global Modular Fabrication Market is expected to be valued at USD 207.58 Billion in 2027 from USD 121.98 Billion in 2019, registering a CAGR of 7.2% through the forecast period. The increasing prevalence of construction activities and the rising demand for modular fabrication in the construction sector are the primary factors stimulating the market demand and driving market growth. Modular fabrication is a process carried out to demonstrate the use of pre-engineered construction parts made in factories and transported to the sites and assembled as significant parts of the building. The process involves the production, designing, and construction of equipment off-site.

Modular fabrication confers several benefits such as increased speed, enhanced efficacy, safety, and superior quality. It is convenient to use and is extremely cost-efficient, thereby bolstering its adoption in the construction sector. The increasing pace of construction and building activities in the major economies and metro cites has led to an upsurge in demand for modular fabrication, thereby significantly contributing to the market growth. Since the process occurs in off-site facilities, the work environment is optimized to function in a very time, cost, and quality-efficient method. It also allows for an extensive evaluation and assessment of the equipment before it is deployed on the construction site, which allows for efficient detection and solving of problems to ensure its safety. This is projected to further bolster the market growth in the estimated timeframe.
However, the process necessitates significant planning to deploy, and the companies are required to consider several factors for efficient execution of the project. The competitive landscape of the market is consolidated, with numerous established players investing extensively in R&D activities to develop a robust product portfolio to cater to the growing demand of the market.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/modular-fabrication-market

Key Highlights from Report:
• Based on technology, the permanent sub-segment is foreseen to observe substantial growth in the estimated timeframe owing to its ability to develop single and multi-story structures in a sustainable method.
• Based on end-user industry, the industrial sub-segment is projected to account for a significant share of the market in the projected timeframe accredited to the convenient mode of building the equipment and the cost-efficiency and time-saving attribute of the process.
• North America accounted for a significant share in 2019 and is projected to dominate the market in the estimated period ascribed to fast-paced urbanization, industrialization, and construction activities, predominantly in the United States.
• Asia Pacific is expected to occupy a sizeable share of the market in the estimated years credited to the accelerated expansion of the building and construction sector in APAC countries, such as India, China, and Southeast Asia. The growing demand for modular fabrication from the commercial and residential sector is also supporting the regional expansion.
• Key companies operating in the market include Kleusberg, Laing O'Rourke, Atco, Bouygues, Vinci, Skanska, Guerdon Modular Buildings, Algeco Scotsman, CIMC Modular Building Systems, Lendlease, Larsen & Toubro, ACS Group, Balfour Beatty, and Red Sea Housing Services, among others.

For the purpose of this report, Reports and Data has segmented the global modular fabrication market on the basis of technology, end-user, and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)
• Relocatable
• Permanent
End-user Outlook (Revenue, USD Billion; 2017-2027)
• Residential
• Commercial
• Industrial
o Oil & Gas
o Marine
o Mining
o Heavy Industry
o Pharmaceuticals
o Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o Japan
o South Korea
o India
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA