Research Expert: Sarah Overall
  • Published: Feb 2025
  • Pages: 150
  • SKU: IRTNTR75101

  • US Modular Construction Market Size Forecast (2025-2029)

    The U.S. modular construction market is projected to grow by USD 7.04 billion, with a compound annual growth rate (CAGR) of 6.2% from 2024 to 2029. This expansion is driven by various factors, including increasing awareness of cost-effective, custom-built facilities. Modular construction is gaining traction due to its ability to streamline construction timelines and reduce costs compared to traditional methods. However, challenges such as volatile input costs and transportation constraints remain.

    Modular Construction Market in US 2025-2029

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    Market Segmentation

    Application

    • Residential
    • Commercial

    Type

    • Permanent
    • Relocatable

    Geography

    • US

    Market Dynamics

    Key Drivers

    • On-site Construction Constraints: The unpredictability of weather and site-specific construction challenges have increased interest in modular construction methods. This technique ensures higher quality, shorter construction timelines, and reduced project risks. Modular construction is gaining popularity in urban areas, particularly those prone to natural disasters such as hurricanes, floods, and earthquakes.

    Key Trends

    • Custom-Built Facilities with Minimal Budgets: Modular construction is becoming a popular alternative for building cost-effective structures across various applications, including residential homes, commercial buildings, educational facilities, and healthcare centers.

    Challenges

    • Volatile Input Costs: The cost of raw materials such as steel, timber, and modular concrete is volatile, affecting the profitability of modular construction projects. While long-term supplier contracts can help manage these fluctuations, challenges remain with transportation logistics and assembly complexities.

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    Key Companies & Market Insights

    Key players in the U.S. modular construction market are employing strategies such as partnerships, mergers, acquisitions, and geographical expansion to improve their market presence. Some of the significant players include:

    • Abtech Inc. - Provides modular construction solutions such as Forkliftable Prefabricated Buildings.
    • ATCO Ltd.
    • Bechtel Corp.
    • BOXX Modular
    • Building Pro
    • Commercial Structures Corp.
    • Fluor Corp.
    • GUERDON LLC
    • JL Construction
    • Kwikspace Pty Ltd.
    • Lendlease Corp. Ltd.
    • McGrath RentCorp, Inc.
    • Modular Genius
    • Nadler Modular
    • Pac Van Inc.
    • Satellite Shelters Inc.
    • Skanska AB
    • Specialty Modular
    • STARRCO
    • Westchester Modular Homes

    Recent Developments

    • Marriott International - Marriott International is increasing its adoption of modular construction for hotel projects, including modular hotels in cities such as Manhattan.

    The U.S. modular construction market is poised for significant growth, driven by technological advancements, cost-effective building solutions, and the increasing need for sustainable, resilient construction methods in urban areas.

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