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The modular and portable building market size is forecast to increase by USD 42.3 billion, at a CAGR of 6.3% between 2023 and 2028. The market is experiencing significant growth due to the rising demand for versatile infrastructure solutions. These structures offer numerous advantages, including faster construction times, cost savings, and the ability to be easily transported and reassembled. Additionally, the sustainability benefits associated with modular and portable constructions, such as reduced waste and energy efficiency, are driving interest in this sector. However, the market faces challenges, including the lack of skilled labor and the need for standardization and regulation to ensure safety and quality. As the industry continues to evolve, innovations in technology and design will play a crucial role in addressing these challenges and driving market growth.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The modular buildings segment is estimated to witness significant growth during the forecast period. Modular construction, also referred to as prefabricated or offsite building, is a cost-effective and efficient construction method that offers numerous benefits, particularly in the areas of thermal and acoustic insulation. This construction technique involves manufacturing building components, such as volumetric building modules, in a factory setting and assembling them on-site. This approach reduces material and labor costs by approximately 20% and decreases the need for on-site labor by around 30%. Sustainability is a significant advantage of modular construction. The construction industry contributes significantly to CO2 emissions, and modular methods help minimize this environmental impact by streamlining the construction process and minimizing waste. This aligns with sustainable construction practices, including green infrastructure and energy-efficient building. Modular construction is also flexible and can be customized to meet various needs, from Life Housing and building residences to disaster relief camps and mobile homes.
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The modular buildings was the largest segment and was valued at USD 80.10 billion in 2018. The use of sustainable materials, such as concrete, steel, and wood, further enhances the eco-friendliness of modular construction. In commercial applications, modular construction is increasingly popular in nonresidential construction, including healthcare and hospitality industries. This construction method offers quicker construction times, structural stability, and reduced waste. Additionally, the use of prefabricated and volumetric construction techniques allows for customization and the integration of eco-friendly products. Modern modular construction also prioritizes air quality, ensuring that buildings are constructed using the best practices for indoor environmental quality. This is essential for commercial real estate, where occupant health and productivity are critical factors. In summary, modular construction offers numerous benefits, including cost savings, efficiency, sustainability, and flexibility. With rapid urbanization and the increasing demand for eco-friendly and energy-efficient solutions, modular construction is an attractive option for various applications, from residential to commercial, and from disaster relief camps to mobile homes.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses various types of structures, including thermal and acoustic insulated volumetric building modules for life housing and building residences. These structures find applications in disaster relief camps, mobile homes, and commercial construction, such as nonresidential buildings, healthcare facilities, and hospitality venues. Sustainable construction techniques, including green infrastructure, PPVC (Pre-fabricated Pre-finished Volumetric Construction), and offsite manufacturing, are increasingly popular in this sector.
Ecofriendly products and energy-efficient building solutions are essential for reducing the carbon footprint of these structures. Structural stability is ensured through the use of materials like concrete, steel, and wood. Quick construction times, flexibility, and reduced waste are key benefits of this approach. Commercial real estate developers are increasingly turning to prefabricated and volumetric construction for their sustainable solutions. Rapid urbanization and the need for rapid construction techniques have further fueled the growth of this market. Customization and the use of advanced construction techniques, such as relocatable and permanent modular construction, enable the creation of unique and innovative building designs. Air quality and project preplanning are crucial aspects of this industry, ensuring the longevity and safety of these structures.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abtech Inc. - The company offers modular and portable building solutions such as Custom Modular Steel Mezzanines, Abtech Forkliftable Prefabricated Buildings, and others.
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Market structure |
Fragmented |
YoY growth 2023-2024 |
5.7 |
The market is witnessing significant growth due to the increasing demand for prefabricated structures in various sectors. These structures are ideal for temporary and semi-permanent usage, with applications ranging from prefabricated shelters and portable cabins to temporary workspaces and storage areas. Off-site construction, also known as volumetric building or offsite manufacturing, is a key trend in non-residential construction. This approach offers several benefits, including quicker construction, flexibility, reduced waste, and improved tenant comfort. Prefabricated structures are manufactured in controlled factory environments, ensuring structural stability and high-quality standards. Air quality is a critical consideration in the design of these buildings, with many incorporating eco-friendly materials and green infrastructure, such as PVC membranes and sustainable solutions. The use of prefabricated construction and volumetric modules in commercial real estate development is expected to continue growing, offering sustainable solutions for businesses and organizations. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising demand for versatile infrastructure solutions is notably driving market growth. The market is experiencing substantial growth due to the rising demand for adaptable infrastructure solutions. One pioneering innovation in this sector is the creation of modular mobile flyover bridges, such as the ASTRA Bridge. The construction process is streamlined, with the affected highway section being shut down for a weekend, allowing bridge sections to be transported and assembled overnight. Ramps at either end ensure seamless vehicle transitions on and off the flyover.
In times of crisis, such as natural disasters, the need for portable, modular bridges becomes increasingly crucial. Traditional methods, like helicopters, may not always be practical or accessible during emergencies. Roofs, floors, columns, and beams are essential components of these structures, ensuring their durability and functionality. Foreign direct investment in this market continues to fuel advancements in technology and design, further expanding the potential applications of modular and portable buildings. Thus, such factors are driving the growth of the market during the forecast period.
Sustainability benefits associated with modular and portable constructions is the key trend in the market. Modular and portable building construction is an increasingly popular alternative to traditional methods, offering numerous advantages in terms of cost-effectiveness, time efficiency, and sustainability. Approximately 90% of the construction process takes place off-site in a controlled factory environment, reducing environmental disruption at the construction site. This approach leads to efficient use of materials and energy, resulting in minimal waste.
Additionally, the use of recycled and recyclable materials is a key sustainability benefit of modular construction. The off-site fabrication of roofs, floors, columns, beams, and other building components allows for precise engineering and manufacturing, resulting in structures that can be completed in nearly half the time required for traditional construction. Foreign direct investment in this sector is on the rise due to the numerous benefits it offers. Thus, such trends will shape the growth of the market during the forecast period.
Lack of skilled labor is the major challenge that affects the growth of the market. The market is witnessing significant growth due to the increasing adoption of off-site construction methods for their efficiency and cost benefits. However, the assembly and installation of modular components require specialized skills, including the handling and assembly of roofs, floors, columns, beams, and other prefabricated parts. The construction industry's labor shortage, particularly in modular construction techniques, poses a challenge to the industry's ability to execute projects effectively and efficiently.
This skill gap can lead to delays, increased costs, and difficulties in maintaining the high standards of quality required for successful modular builds. Foreign direct investment in the training and development of skilled labor in modular construction techniques can help bridge this gap and ensure the continued growth and success of the market. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
The market is witnessing significant growth due to the increasing demand for prefabricated structures in various sectors. These structures are primarily used for temporary and semi-permanent applications, including prefabricated shelters, portable cabins, and temporary workspaces. Off-site construction methods, such as modular building technologies, enable the production of high-quality, durable structures that offer tenant comfort and essential amenities like plumbing, heating, ventilation, and lighting. Specialty buildings, such as guardhouses, ticket booths, mobile medical clinics, and portable toilets, are also gaining popularity in the market.
The education and healthcare sectors are major consumers of modular buildings due to their need for affordable, quick-to-construct, and sustainable structures. Modern modular building technologies offer smart features like internet access, remote monitoring, temperature management, energy efficiency, and sustainability. Eco-friendly materials, such as bamboo, straw bale panels, recycled materials, and shipping containers, are increasingly being used to reduce the carbon footprint of these structures. Solar panels, insulation, LED lighting, single layer structures, and double layer structures are some of the other essential components that contribute to the durability and functionality of modular and portable buildings.
Market Scope |
|
Report Coverage |
Details |
Page number |
208 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.3% |
Market growth 2024-2028 |
USD 42.3 billion |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, UK, Germany, Canada, Australia, France, Japan, The Netherlands, and Sweden |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abtech Inc., Ahura Gas Enterprise Pvt Ltd, Allied Modular Building Systems, Inc., Cotaplan, CRATE Modular Inc., Cube Modular Ltd, EPACK Polymers Pvt Ltd., Excel Modular, Henan K-Home Steel Structure Co.,Ltd., Loom Crafts Shade Systems Pvt Ltd, Masterkabin Ltd, McGrath RentCorp, Inc, Morgan USA, Panel Built, Inc., Parkut International Inc, Portable Facilities Ltd, PortaFab Corp., Portakabin Ltd., Pressmach Infrastructure Pvt Ltd., Thurston Group Ltd., United Partition Systems, Inc., and WILLSCOT MOBILE MINI HOLDINGS CORP. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, AI impact on market trends, COVID -19 impact and recovery analysis and future consumer dynamics, market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Material
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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