Europe Modular Construction Market, By Type (Permanent and Relocatable), Material (Wood, Steel, Concrete, and Others), End-User (Residential, Hospitality, Healthcare, Education, Retail And Commercial, Office And Others) - Industry Trends and Forecast to 2030.
Europe Modular Construction Market Analysis and Insights
Europe modular construction market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.3% in the forecast period of 2023 to 2030 and is expected to reach USD 28,431,693.42 thousand by 2030. The major factor driving the growth of the Europe modular construction market is the ease of disassembling helps to deconstruct into parts and can be reconstructed or redistributed to incorporate into various other projects.
Molecular buildings designed for disassembly would be easier to remove in a more controlled way, causing less environmental harm than building constructed and demolished using traditional construction methods. Modular projects are designed in such a way as to maximize sustainability or to meet a project requirement for future relocation.
The Europe modular construction market report provides details of market share, new developments, and the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Year |
2021 (Customizable to 2019 - 2014) |
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Quantitative Units |
Revenue in USD Thousand |
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Segments Covered |
By Type (Permanent and Relocatable), Material (Wood, Steel, Concrete, and Others), End-User (Residential, Hospitality, Healthcare, Education, Retail and Commercial, Relocatable Buildings, Permanent Modular, Office, and Others) |
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Countries Covered |
U.K., Russia, France, Spain, Italy, Germany, Turkey, Netherlands, Switzerland, Belgium, Luxembourg, and rest of Europe |
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Market Players Covered |
LAING O’ROURKE, Skanska, Modulaire Group, KLEUSBERG, Bechtel Corporation, Fluor Corporation, Wernick Group, KOMA MODULAR, and Elements Europe among others |
Market Definition
Modular construction is a process in which a building is constructed off-site. The building is constructed under controlled conditions using the same design and materials to the same codes and standards as usually built facilities but in around half the time. Buildings are manufactured in "modules" that when put together on site, and specifications of the most sophisticated site-built facility reflect identical design intent without compromise.
Europe Modular Construction Market Dynamics
DRIVERS
- Ability to Complete Projects Quickly Compared to Traditional On-Site Buildings
Construction off-site is transforming the construction process for schools, commercial buildings, hospitals, and other construction industries, ensuring better construction quality management and quicker delivery times. Modular construction has been utilized for a long time in the construction of residential and many other commercial product types due to the quick delivery times for the assigned project. Modular buildings are constructed off-site in modules and brought to the site in flat-packed panels, ready to build.
- Increase in Per Capita Income and Easy Availability of Finances and Loans
Growing urbanization and industrialization has led to the growth of the economies. The advantages of using modular and off-site construction as compared with the traditional construction methods are numerous due to its efficiency in delivery, shorter schedules, lower cost, higher quality, and better safety. Modular construction provides a solution to this shortage by enabling more automation. New technologies such as Artificial Intelligence (AI) can help to increase off-site prefabrication—modular construction cuts cost by 20% to 30%.
OPPORTUNITIES
- Rise in Investments and Growing Demand for New Housing, Commercial, and Industrial Structures
The industrialists shifted in preference towards maximizing modular design constructed to create affordable housing. In addition, the real estate sector is among the most globally recognized sectors. It comprises four sub-sectors - housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment, the demand for office space, and urban and semi-urban accommodation. Therefore, the real estate sector has witnessed high growth in recent times with a rise in demand for office and residential spaces.
- Renewed Focus on Upgrading Healthcare Infrastructure
Modular construction provides clean and noise-free construction, one factor that the healthcare industry is shifting its preference to modular construction for facility space expansion. Most of the buildings are done off-site because the modules are constructed in a manufacturing facility, so there will be less noise at the medical facility, and the patients will face no disturbance. More than ever, owners of hospitals and other healthcare facilities are turning to modular construction for their expansion needs.
RESTRAINTS/CHALLENGES
- Shortage of Skilled Labor in the Modular Construction Industry
The major challenge faced by the Europe modular construction market is the lack of skilled labor in the industry, which hampers the market growth to a larger extent. An unskilled labor force negatively impacts project performance. The focus should be made on improving and enhancing labor skills as it is highly demanding in the construction sector. Performance in any industry is very important in achieving measures to ensure sustainability and competitiveness.
- Fluctuating Transportation Costs for Prefabricated Modules
Modular-constructed buildings are fast becoming the construction method choice across the world. People worldwide shifted to modular construction due to cost-effectiveness, efficient construction, and safety associated with the workers. The transportation of prefabricated modular building sections requires lots of space. Also, the restriction on manufacturing and transportation can limit the size of modular units used for construction, which impacts the desirable room sizes. Changing transportation costs for prefabricated modules can significantly restrain market growth.
Recent Development
- In February 2021, according to Forbes, traditionally constructed houses can take up to four to six months to build, whereas modular-constructed houses take between six and ten weeks
Europe Modular Construction Market Scope
Europe modular construction market is segmented into three notable segments based on type, material, and end-user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Type
- Permanent
- Relocatable
Based on type, the market is segmented into permanent and relocatable.
Material
- Wood
- Steel
- Concrete
- Others
Based on material, the market is segmented into wood, steel, concrete, and others.
End-User
- Residential
- Hospitality
- Healthcare
- Education
- Retail And Commercial
- Office
- Others
Based on end-user, the market is segmented into residential, hospitality, healthcare, education, retail and commercial, office, and others.
Europe Modular Construction Market Regional Analysis/Insights
Europe modular construction market is segmented into three notable segments based on type, material, and end-user.
The countries in the Europe modular construction market are the U.K., Russia, France, Spain, Italy, Germany, Turkey, Netherlands, Switzerland, Belgium, Luxembourg, and the rest of Europe. The U.K. is dominating the market in terms of market share and market revenue due to the growing characteristics of modular construction in the region.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe Modular Construction Market Share Analysis
The Europe modular construction market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to the market.
Some of the prominent participants operating in the Europe modular construction market are LAING O’ROURKE, Skanska, Modulaire Group, KLEUSBERG, Bechtel Corporation, Fluor Corporation, Wernick Group, KOMA MODULAR, and Elements Europe among others.
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