According to the latest report by IMARC Group, titled “North America Modular Construction Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the North America modular construction market exhibited double digit growth rates during 2014-2019. Modular construction involves off-site prefabrication of single or multi-stored structures before installing them on the actual construction site. It includes the construction of doors, walls, ceilings, beam, floors, columns, etc. These components are joined to form a single structure by using cranes and other lifting or rigging tools. Modular construction provides improved quality control, easy relocation or expansion, reduced construction time, better design options, and minimal waste production. In North America, modular construction is gaining popularity as a sustainable and eco-friendly substitute to traditional construction methods.
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The rising demand for prefabricated buildings and shifting focus towards minimizing overall construction costs and time drives the market. Besides this, the escalating number of infrastructure projects also propels the market growth. Moreover, the growing environmental concerns regarding carbon emissions from conventional construction methods are bolstering the need for modular construction. Numerous government initiatives for developing green buildings across the United States and Canada are also strengthening the market. Furthermore, extreme weather conditions leading to shorter daytime and heavy snowfall hinder on-site construction methods, consequently fostering market growth. Additionally, the increasing integration of advanced technologies with prefabrication methods, such as 3D printing, artificial intelligence, and Building Information Modeling (BIM), is anticipated to enhance the market in North America. The market, however, is expected to revive from 2021 onwards and exhibit continuous growth during 2021-2025.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America modular construction market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, division, industry and material.
Breakup by Division:
- Permanent Modular Construction (PMC)
- Relocatable Buildings (RB)
Breakup by Industry:
Breakup by Material:
Breakup by Country:
- United States
Competitive Landscape Key Player:
- Aries 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
- Willscot Corporation
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