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[English Market Research Report] Global Market for Modular Construction

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The global market size for modular construction was valued at 97.28 billion USD in 2022 and is expected to grow from 104.67 billion USD in 2023 to 188.08 billion USD by 2031, with a projected CAGR of 7.6% during the forecast period (2024-2031). The modular construction sector is anticipated to experience significant expansion, driven particularly by rapid urbanization and industrialization in the commercial and industrial building sectors. This growth is supported by advancements in construction technology and the benefits offered by modular construction, such as accelerated building schedules, cost reductions, increased flexibility, material reuse, and minimized waste. As a result, the demand for modular construction is expected to surge globally.

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