Summary - A new market study, titled “ 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” has been featured on WiseGuyReports.
Modular construction in high-rise buildings market basically refers to the permanent modular construction (PMC) that comes in the form of modules such as bathroom modules, kitchen modules, and room modules, used in the high-rise building construction. Increasing FDI in construction in Asia-Pacific region, supportive government regulations and policies, establishment of SEZs, and minimized construction wastage, are expected to have a positive impact on the modular construction for high-rise buildings market. However the market growth is hampered by fluctuating raw material prices, additional cost, and availability of skilled labor.
The global modular construction for high-rise buildings market is expected to grow at 5.60% CAGR during the forecast period, 2017-2023. In 2016, the market was led by Europe with 41.13% share, followed by Americas and Asia Pacific with shares of 29.42% and 16.23%, respectively.
The global modular construction for high-rise buildings market has been segmented based on material, building height, module type, and region. Of all the material, steel accounted for the largest market share of 40.31% in 2016, with a market value of USD 1,311.7 million, which is projected to grow at the highest CAGR of 5.82% during the forecast period. Based on building height, Upto 70 meters segment accounted for the largest market share of 42.76% in 2016, with a market value of USD 1,391.5 million, which is projected to grow at the highest CAGR of 5.69%. On the basis of module type, bathroom pods are expected to show the highest growth of 5.79% during the forecast period.
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