Modular Construction Market to Reach $196.2 Bn, Globally, by 2026 at 7.1% CAGR: Allied Market Research
LENDLEASE CORP LTD S/ADR (LLESY)
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Source: PR Newswire
PORTLAND, Oregon, March 17, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Modular Construction Market by Type (Permanent and Re-locatable), Material (Steel, Wood, Concrete, and Others), and End User (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global modular construction market garnered $114.6 billion in 2018, and is estimated to garner $196.2 billion by 2026, witnessing a CAGR of 7.1% from 2019 to 2026.Drivers, restraints, and opportunitiesHigh efficiency rise in construction activities, and increase in urbanization & industrialization in developing nations drive the growth of the global modular construction market. However, lack of reliability in earthquake-prone areas and scarcity of skilled labor in developing countries hinder the market growth. On the other hand, surge in investments in development of infrastructure create new opportunities in the industry. Downloa
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