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US Modular Construction Market


ID: MRFR/CO/14777-HCR | 100 Pages | Author: MRFR Research Team| December 2023

US Modular Construction Market Overview

The demand for modular construction in the United States is witnessing a significant upswing, driven by various factors that reshape the landscape of the construction industry. One of the main reasons why there has been increased demand for modular construction in US is because it helps to bring down significantly on time spent during constructions. Modular housing implies the fabrication of building components off site so as to allow for concurrent construction processes, shortening project completion times compared with traditional methods.
Modular construction is cost efficient due to regulated manufacturing premises, diminishing waste of materials and lowering labor expenses. Developers and builders are attracted by the predictability in cost estimation as they get an idea about project budgets right from the outset.
The modular components are fabricated in a controlled factory setting which allows stringent quality control measures. This leads to constant high quality elements of building that are significantly less variable than the process of on-site construction.
Modular construction method suits well the increased demand for sustainable practices in construction. Modular construction is an eco-friendly solution because off-site manufacturing entails less waste of construction, while the accuracy in component production promotes resource efficiency.
Modular construction allows architects and developers to create a wide range of structures, with endless variations. Such modular approach can satisfy different architectural styles as well for the residential and commercial projects.
Modular construction is increasingly becoming popular in the housing sector as a way of solving affordability issues. ยฌโ€ The smooth and fast manufacturing procedure allows for the production of affordable housing alternatives, which makes owning a home available to more people.
Technological progress plays a pivotal role in the growth of modular construction market. Modular construction is precise and efficient due to build information modelling BIM automation, digital fabricating techniques attract industries eager to work with innovations.
This modular construction approach is highly resilient and adaptable, thus it would be best to use for disaster response and recovery attempts. The readiness to install modular units promptly after disasters caused by natural phenomena helps address urgent housing issues and allows quick recovery.
Modular construction beyond residential uses is increasingly accepted in the commercial sector. Modular construction from office buildings to hotels and educational facilities, developers recognizes the benefits of providing projects on time within budget.
Regulatory bodies and local governments are providing growing support to the modular construction industry. Given the benefits of this type of construction, some areas are encouraging or fast-tracking approvals for modular projects thus increasing its popularity.
Modular construction mitigates the impact of external factors on the construction supply chain. With components manufactured off-site, projects are less susceptible to delays caused by weather conditions, material shortages, or other disruptions that commonly affect traditional construction.

Frequently Asked Questions (FAQ) :

The US Modular Construction Market is expected to be valued at 19.31 billion USD in 2024.

By 2035, the US Modular Construction Market is projected to reach a value of 40.76 billion USD.

The expected compound annual growth rate (CAGR) for the US Modular Construction Market from 2025 to 2035 is 7.028%.

The concrete material segment is anticipated to dominate the US Modular Construction Market, valued at 5.0 billion USD in 2024.

The steel segment in the US Modular Construction Market is expected to reach a value of 9.5 billion USD by 2035.

Major players in the US Modular Construction Market include Procure Infrastructure, American Modular Systems, and DPR Construction.

The wood material segment is projected to be valued at 7.3 billion USD in the US Modular Construction Market by 2035.

The US Modular Construction Market is expected to benefit from rising demand for sustainable building practices and fast construction timelines.

The plastic material segment is valued at 3.0 billion USD in 2024 and is expected to grow to 6.5 billion USD by 2035.

The US Modular Construction Market faces challenges including regulatory hurdles and the need for skilled labor.

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