Global Modular Construction Market is estimated to be US$ 269.23 billion by 2030 with a CAGR of 7.50

Abhi795425 May, 2022Business

Global Modular Construction Market accounted for US$ 130.92 billion in 2020 and is estimated to be US$ 269.23 billion by 2030 and is anticipated to register a CAGR of 7.50%. Modular construction is a method of creating a structure off-site while maintaining the same design, standards, and materials. The buildings are constructed in a modular format, which are then assembled on site. When compared to traditional building, modular construction causes fewer site interruptions and produces less waste. Furthermore, modular buildings are simple to disassemble and can be reconditioned and relocated for new modular homes, reducing the demand for raw materials and energy used to construct new structures.