Modular Construction Market Outlook 2024–2032
The global modular construction market is projected to grow from USD 94.84 billion in 2025 to USD 151.53 billion by 2032, at a CAGR of 6.9%. Explore trends, drivers, restraints, and key players.
🔍 Market Overview
The global modular construction market size was valued at USD 89.44 billion in 2024 and is projected to reach USD 151.53 billion by 2032, registering a CAGR of 6.9% during the forecast period. Asia Pacific led the global market with a share of 45.32% in 2024. Notably, the U.S. modular construction market is expected to grow significantly, reaching an estimated USD 31.32 billion by 2032, driven by the increasing use of prefabricated solutions in the hospitality industry.
✅ Key Market Drivers
Rising demand for cost-effective and faster building methods
Growing preference for sustainable construction with reduced waste
Increased investments in prefabricated construction for commercial, healthcare, and hospitality sectors
📌 Trends & Opportunities
Permanent and relocatable modular solutions gaining traction
Use of steel, wood, and concrete modules expanding in diverse applications
Major companies focusing on advanced offsite manufacturing technologies
Restraints
High initial setup costs for modern modular units
Limited awareness and adoption in developing regions
🏗️ Market Segmentation
By Type:
Permanent Modular Construction
Relocatable Modular Construction
By Material:
Wood
Steel
Concrete
By Application:
Commercial
Healthcare
Education & Institutional
Hospitality
Others
🌍 Leading Companies
Guerdon Modular Buildings (U.S.)
Laing O'Rourke (U.K.)
ATCO (Canada)
Red Sea International Company (Saudi Arabia)
Bouygues Construction (France)
VINCI Construction Grands Projets (U.K.)
Skanska AB (Sweden)
Algeco (U.K.)
KLEUSBERG GmbH & Co. KG (Germany)
Katerra (U.S.)
Lendlease Corporation (Australia)
Read the full report 👉 https://www.fortunebusinessinsights.com/industry-reports/modular-construction-market-101662