Modular Construction Market Booms as Developers Seek Speed, Efficiency, and Sustainability

The global modular construction market is projected to reach USD 103.55 billion by 2024 and is forecasted to expand at a robust CAGR of 7.9% from 2025 to 2030. Key drivers include the escalating demand for affordable housing, rising investments in healthcare and commercial infrastructure, and the increasing adoption of off-site construction techniques—particularly in urban centers. Modular methods, which leverage factory-controlled environments, offer faster build times, greater cost efficiency, and reduced on-site waste, making them an increasingly attractive alternative to conventional construction.

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The acceleration of urbanization and industrialization globally is spurring a wave of new construction projects, particularly in the commercial and industrial sectors. Innovations in modular techniques—combined with cost savings, design flexibility, faster completion times, and reduced material waste—are strengthening market momentum across diverse applications.

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Module Insights

Four-Sided Modules Dominate

Four-sided modules captured 37.46% of the market share in 2024, buoyed by rising demand for prefabricated housing in urban areas. Governments and developers are turning to this format to quickly scale up multi-story residential units.

Open-Sided Modules Witness Rapid Expansion

Open-sided modules are projected to register a CAGR of 9.0% from 2025 to 2030. Their flexible design capabilities allow for larger, open-plan spaces, making them highly suitable for high-end commercial buildings, hotels, and healthcare facilities where interior space optimization is essential.

Material Insights

Steel Remains the Material of Choice

Steel led the market in 2024 with a 41.3% share, owing to its strength, ductility, seismic resistance, and suitability for prefabrication. Widely used in large-span structures, steel’s lightweight nature also supports cost-efficient transportation and crane handling—minimizing disruption during assembly.

Concrete Segment Poised for Strong Growth

The concrete segment is forecasted to grow at a CAGR of 8.0% during the forecast period. Known for its durability, fire resistance, energy efficiency, and minimal maintenance requirements, concrete is increasingly favored for modular applications in both residential and commercial settings.

Type Insights

Permanent Modular Construction Leads the Market

In 2024, permanent modular construction accounted for a dominant 64.45% revenue share. This segment offers greater design flexibility, customization, and structural durability, aligning with rising demand for long-lasting and reliable infrastructure. Superior quality control and safety standards further enhance its appeal across both private and public sector developments.

Relocatable Modular Construction Gains Traction

The relocatable segment is projected to grow at a CAGR of 7.3% through 2030, driven by demand for temporary housing and infrastructure in disaster recovery, emergency relief, and remote worksite operations. These portable, cost-effective units are ideal for rapidly deployable office spaces, accommodation, and storage solutions.

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