Modular construction
is a process in which a building is constructed off-site under the controlled
plant conditions with the application of same material & designing to the
same codes and standards used. Modular construction in high-rise buildings
market mainly refers to the permanent modular construction (PMC) which comes in
the form of modules for instance bathroom modules, room modules and kitchen
modules, used in the high-rise building construction. The buildings are made using
various complete prefabricated modular building units or with modular parts such
as windows, doors, ceilings, frames and walls. It offers leverage over metrics
including saves construction expenses, security, logistics, and materials.
According to
study, “Global Modular Construction for
High Rise Buildings Market Research Report Information: Material (Steel)
Building Height (Up to 70 Meters) Module Type (Bathroom Pods) - Forecast Till
2023”
the key companies operating in the global modular construction for high rise
buildings market are Eurocomponents Italy Spa, Neopod Systems, Walker Modular,
Pivotek, Oldcastle Surepods, B&T Manufacturing, Interpod Offsite, Elements
Europe, Intelligent Offsite Limited, The Pod Company (Speed House Group
Company), B&T Manufacturing, PUDA Industrial Co., Ltd.
Based on
material, global modular construction for high rise buildings market is
segmented into concrete, plastic, steel and wood. Based on building height,
market is segmented into up to 70 meters, 70-100 meters, 100-170 meters and 170
meters and above. Based on module type, market is segmented into kitchenettes and
bathroom pods. Bathroom
pods segment holds maximum share due to growth in usage of steel framed pods
coupled with wide usage in private care especially for the elderly sector.
The modular
construction for high rise buildings market is driven by increase in Foreign
Direct Investments (FDI) in construction industry, followed by establishment of
special economic zone or SEZs, increase in supportive government regulations &
policies, constant
demand from numerous end users, collaboration by competing market players,
rapid boost in industrialization, continuous product innovation, increase in creation
of numerous modeling & designing software namely building information
modeling (BIM) and minimized construction wastage. However, fluctuating raw
material prices, availability of skilled labor and additional cost may impact
the market. Moreover, multinationals adopting modular construction, energy
efficiency, potential boom in the manufacturing sector in and emerge in
economies are key opportunities for market.
Based on
geography, the European region holds major share in modular construction for
high rise buildings market owing to increase in infrastructure & commercial
projects or private housing and privately funded project development in the
health & education sector in the region. The America is expected to witness
a consistent growth due to resurgence of the real estate sector, stable economy,
enormous savings with regards to cost & time and growth in reliability at
the time of unpleasant weather over the forecast period. Additionally,
Asian-Pacific region is estimated to witness significant growth on account of supportive
government initiatives and increase in per capita over the forecast period. In
upcoming years, it is anticipated that future of the market will be bright
caused by increase in industrialization, increase in need for sustainable & eco-friendly
construction and enhance in urban population.
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