The Europe Modular Construction Market would witness market growth of 6.7% CAGR during the forecast period (2023-2030).
Modular construction has found application in the healthcare sector, where the demand for new facilities can be urgent. Modular units are well-suited for constructing medical clinics, laboratories, and hospitals. The rapid assembly of modular classrooms allows schools and universities to address growing student populations without prolonged disruptions to ongoing academic activities. In the industrial sector, modular construction efficiently assembles warehouses, manufacturing facilities, and distribution centers. The ability to scale up or reconfigure spaces to accommodate changing production needs aligns with the dynamic nature of industrial operations.
Integrating advanced technologies, such as Building Information Modeling (BIM), augmented reality, and automation, enhances the design, planning, and construction phases of modular projects. These technologies contribute to improved precision, efficiency, and collaboration among stakeholders. Sustainability is a driving force in the market. From the choice of eco-friendly materials to energy-efficient design principles, modular construction projects often prioritize environmental sustainability. Some modular constructions even pursue green building certifications, further underscoring the industry's commitment to responsible and sustainable practices.
Europe has been at the forefront of promoting green building practices and sustainability. The European Union (EU) and other European countries have implemented stringent environmental standards and policies that encourage the adoption of sustainable construction methods. As per the Government of the United Kingdom, through the Clean Growth Grand Challenge, the government has established a goal to reduce the energy consumption of newly constructed buildings by half by the year 2030. Therefore, rising green building policies and investments in Europe will help expand the regional market.
The Germany region dominated the Europe Modular Construction Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $14,058 million by 2030. The UK region is exhibiting a CAGR of 5.8% during (2023 - 2030). Additionally, The France region would experience a CAGR of 7.5% during (2023 - 2030).
Based on Product, the market is segmented into Permanent, and Relocatable. Based on Material, the market is segmented into Steel, Wood, Concrete, and Others. Based on Application, the market is segmented into Residential, Commercial, Industrial, Healthcare, and Educational. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Modular Construction Market will Hit $159.3 Billion by 2030, at a CAGR of 7.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sekisui House, Ltd., LAING O'ROURKE, Red Sea International Company, Skanska Group AB, Premier Modular Limited, KLEUSBERG GmbH & Co. KG, Wernick Group, Lendlease Corporation Limited, Hickory Group and Guerdon, LLC.
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