Modular Construction On A Rise

Posted by sainath on December 14th, 2018

The global buildings construction market, one of the segments in the construction industry, grew at a compound annual growth rate (CAGR) of around 8% during the historic period. This mainly due to an increase in demand for housing especially in developing countries such as India and China. 

In the forecast period, the global buildings construction market size is expected to be over USD12,283 billion by 2021, growing at a CAGR of nearly 9.8%. The growth rate is higher in the forecast period when compared to the historic period. This is mainly attributed to several factors which include increasing rate of urbanization and development of new cities.

Find TBRC’s report on the buildings construction market:

https://www.thebusinessresearchcompany.com/report/buildings-construction-market-global-briefing-2018

Building manufacturers across the globe are using modular construction to ensure better quality management for construction. Modular construction is a process in which a building is constructed off-site, produced in modules and then assembled on-site. Modular buildings are stronger, sustainable, and more efficient. These also take lesser time for completion than conventionally constructed buildings. Offsite construction is suited for a number of structure types such as schools, dormitories, hospitals, office buildings, hotels and retail stores.

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