Report Overview

Asia Pacific Modular Construction Market – Industry Trends & Forecast Report, 2030

Asia Pacific Modular Construction Market size was estimated at USD 38.52 billion in 2023. During the forecast period between 2024 and 2029, the size of Asia Pacific Modular Construction Market is projected to grow at a CAGR of 6.85% reaching a value of USD 57.32 billion by 2030. Asia Pacific Modular Construction Market is propelled by rapid urbanization, growing population, and the need for efficient and cost-effective construction solutions. The region's demand for faster project delivery reduced labor costs, and sustainable building practices further drive the adoption of modular construction. Government initiatives promoting affordable housing and infrastructure development also contribute to market growth. Additionally, the flexibility and versatility of modular construction techniques align with the dynamic construction landscape in the Asia Pacific region, fostering innovations and technological advancements in the market.

Modular Construction – Overview

Modular construction is an innovative building method where structures are constructed off-site in controlled factory environments using standardized components, or modules. The modules are then transported to the construction site and assembled into a cohesive building. The approach offers several advantages, including increased efficiency, cost savings, and reduced construction timelines. It is widely used in residential, commercial, and industrial projects, promoting sustainability through minimized waste generation. The modular construction method's flexibility and adaptability make it a popular choice for various applications, with its potential to revolutionize traditional construction practices and address the evolving needs of the industry.

Asia Pacific Modular Construction Market

Growth Drivers

Accelerating Urbanization and Surging Population

The exponential growth in urbanization and population across the Asia Pacific region is a pivotal driver propelling the Asia Pacific Modular Construction Market. As cities expand rapidly and populations soar, the demand for efficient, cost-effective, and sustainable construction solutions intensifies. Modular construction, with its speed and versatility, emerges as a strategic response to the escalating need for infrastructure. The trend addresses the growing housing demand but also fuels economic development, fostering a dynamic market landscape in the Asia Pacific region.

Challenges

Capital Outlay Challenges

The Asia Pacific Modular Construction Market faces hurdles in the realm of high initial investment costs. Elevated capital requirements for project commencement pose a significant restraint, impeding the market's growth trajectory. Investors and stakeholders need to navigate through the financial intricacies, potentially slowing down the otherwise promising expansion of modular construction in the region. Overcoming the capital-intensive barriers becomes crucial for unlocking the full potential of the market.

Impact of Escalating Geopolitical Tensions on Asia Pacific Modular Construction Market

Escalating geopolitical tensions across regions, compounded by the Russia-Ukraine war, have significantly impacted the Asia Pacific Modular Construction Market. Heightened uncertainties, supply chain disruptions, and increased construction costs due to geopolitical instability have deterred investments and slowed project timelines. The conflict led to fluctuations in raw material prices and disrupted the flow of critical construction components, causing delays and cost overruns. Investor confidence has waned, impacting the market's growth potential as geopolitical risks continue to cast shadows over the stability of the Asia Pacific Modular Construction Market.

Asia Pacific Modular Construction Market

Segmental Coverage

Asia Pacific Modular Construction Market – By Type

Based on type, Asia Pacific Modular Construction Market is divided into Permanent and Relocatable segments. The permanent construction segment is a higher contributor to the Asia Pacific Modular Construction Market. The segment emphasizes long-term, fixed structures that are not easily moved, catering to the region's growing demand for durable and sustainable building solutions. The permanent segment underscores a commitment to stability and permanence in construction projects, aligning with the region's evolving infrastructure needs. As the market continues to expand, the dominance of the permanent segment highlights a sustained focus on robust and enduring structures in the Asia Pacific Modular Construction Market.

Asia Pacific Modular Construction Market – By Material

Based on material, Asia Pacific Modular Construction Market is divided into Steel, Wood, and Concrete segments. The steel segment stands out as the largest. The dominance is attributed to the robust structural properties, cost-effectiveness, and rapid construction capabilities offered by steel modular construction. The demand for efficient and durable building solutions, coupled with the versatility of steel in various construction applications, positions it as the leading segment in the dynamic Asia Pacific Modular Construction Market.

Asia Pacific Modular Construction Market– By Module

By module, Asia Pacific Modular Construction Market is divided into Four-sided, Open-sided, Partially Open-sided, Mixed Modules & Floor Cassettes, and Modules Supported by a Primary Structure. The four-sided module type segment is the largest in the Asia Pacific Modular Construction Market. The segment represents a substantial portion of the market, indicating a prevalent preference for fully enclosed modular structures. The demand for four-sided modules underscores a significant trend in modular construction, reflecting the importance of complete enclosure for various applications across the Asia Pacific region. As industries and infrastructure continue to embrace modular solutions, the dominance of the four-sided segment showcases its prominence in addressing diverse construction needs.

Asia Pacific Modular Construction Market – By End Use

By end-use, Asia Pacific Modular Construction Market is divided into Residential, Office, Education, Retail & Commercial, Hospitality, and Healthcare segments. The residential end use segment holds the largest share of the Asia Pacific Modular Construction Market. The segment reflects the region's robust demand for modular construction in the residential space, driven by population growth, urbanization, and a rising need for efficient and cost-effective housing solutions. The residential segment encompasses various housing projects utilizing modular construction methods, meeting the increasing demand for quick and sustainable housing solutions across the Asia Pacific region. The trend underscores the transformative impact of modular construction in addressing housing challenges and shaping the regional real estate landscape.

Asia Pacific Modular Construction Market– By Country

By country, Asia Pacific Modular Construction Market is divided into China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and Rest of APAC segments. China is leading the Asia Pacific Modular Construction Market. With its booming construction industry, rapid urbanization, and government initiatives promoting modular construction methods, China stands out as the dominant player in the region. The country's substantial market share is driven by a high demand for efficient and cost-effective construction solutions. China's robust economic growth and commitment to sustainable building practices further contribute to its prominence in the Asia Pacific Modular Construction Market.

Competitive Landscape

Major players in the Asia Pacific Modular Construction Market include Laing O'Rourke, Red Sea International, Atco Ltd, Modulaire Group, Bechtel Corporation, Fluor Corporation, Koma Modular, Custom Shipping Containers and Modular Buildings, CIMC Modular Building Systems, and Shanghai Star House. To enhance their market share and expand their reach, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In July 2022 – VUILD, a Japan-based architecture firm, completed the test of their digitally prefabricated Nesting house, a modular wooden house built with high-end digital 3D modeling software.

• In June 2022 - Godrej & Boys India Ltd, a machinery and infrastructure service provider in India, partnered with Tvasta Manufacturing Solution, founded by alumnus of IIT Madras. Through the partnership, Godrej & Boys Company aims to use the 3D constructed modular prefabricated section on their construction site.

Scope of Report

By Type

• Permanent

• Relocatable

By Material

• Steel

• Wood

• Concrete

By Module

• Four-sided

• Open-sided

• Partially Open-sided

• Mixed Modules & Floor Cassettes

• Modules Supported by a Primary Structure

By End Use

• Residential

• Office

• Education

• Retail & Commercial

• Hospitality

• Healthcare

By Country

• China

• India

• Japan

• South Korea

• Australia & New Zealand

• Indonesia

• Malaysia

• Singapore

• Vietnam

• Rest of APAC

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Asia Pacific Modular Construction Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rapid urbanization and population growth
         2. Growing demand for sustainable construction
      2. Restraints
         1. Initial investment costs
         2. Lack of standardization
      3. Opportunities
         1. Technological advancements
         2. Growing adoption in non-residential sectors
      4. Challenges
         1. Skilled labor shortage
         2. Supply chain disruptions
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Asia Pacific Modular Construction Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
         1. Permanent
         2. Relocatable
      2. By Material
         1. Steel
         2. Wood
         3. Concrete
      3. By Module
         1. Four-sided
         2. Open-sided
         3. Partially open-sided
         4. Mixed modules & floor cassettes
         5. Modules supported by a primary structure
         6. Others
      4. By End Use
         1. Residential
         2. Office
         3. Education
         4. Retail & Commercial
         5. Hospitality
         6. Healthcare
         7. Others
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Australia & New Zealand
         6. Indonesia
         7. Malaysia
         8. Singapore
         9. Vietnam
         10. Rest of Asia Pacific
5. China Modular Construction Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Module
      4. By End Use
6. India Modular Construction Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Module
      4. By End Use
7. Japan Modular Construction Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Module
      4. By End Use
8. South Korea Modular Construction Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Module
      4. By End Use
9. Australia & New Zealand Modular Construction Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Module
      4. By End Use
10. Indonesia Modular Construction Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Type
       2. By Material
       3. By Module
       4. By End Use
11. Malaysia Modular Construction Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Type
       2. By Material
       3. By Module
       4. By End Use
12. Singapore Modular Construction Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Type
       2. By Material
       3. By Module
       4. By End Use
13. Vietnam Modular Construction Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Type
       2. By Material
       3. By Module
       4. By End Use
    3. Market Size & Forecast, 2019–2030
       1. By Volume (Unit)
    4. Market Share & Forecast
       1. By Type
       2. By Material
       3. By Module
       4. By End Use
14. Rest of Asia Pacific Modular Construction Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Type
       2. By Material
       3. By Module
       4. By End Use
15. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Asia Pacific Modular Construction Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
16. Impact of Escalating Geopolitical Tensions on Asia Pacific Modular Construction Market
17. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Laing O'Rourke
    2. Red Sea International
    3. Atco Ltd
    4. Modulaire Group
    5. Bechtel Corporation
    6. Fluor Corporation
    7. Koma Modular
    8. Custom Shipping Containers and Modular Buildings
    9. CIMC Modular Building Systems
    10. Shanghai Star House
    11. Other Prominent Players
18. Key Strategic Recommendations
19. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Asia Pacific Modular Construction Segmentation

Figure 2       Asia Pacific Modular Construction Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Asia Pacific Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 5       Asia Pacific Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 6       Asia Pacific Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 7       Asia Pacific Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 8       Asia Pacific Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 9       Asia Pacific Modular Construction Market Share, By Country, By Value, 2019–2030

Figure 10     China Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 11     China Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 12     China Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 13     China Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 14     China Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 15     India Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 16     India Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 17     India Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 18     India Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 19     India Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 20     Japan Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 21     Japan Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 22     Japan Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 23     Japan Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 24     Japan Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 25     South Korea Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 26     South Korea Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 27     South Korea Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 28     South Korea Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 29     South Korea Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 30     Australia & New Zealand Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 31     Australia & New Zealand Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 32     Australia & New Zealand Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 33     Australia & New Zealand Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 34     Australia & New Zealand Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 35     Indonesia Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 36     Indonesia Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 37     Indonesia Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 38     Indonesia Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 39     Indonesia Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 40     Malaysia Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 41     Malaysia Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 42     Malaysia Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 43     Malaysia Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 44     Malaysia Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 45     Singapore Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 46     Singapore Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 47     Singapore Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 48     Singapore Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 49     Singapore Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 50     Vietnam Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 51     Vietnam Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 52     Vietnam Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 53     Vietnam Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 54     Vietnam Modular Construction Market Share, By End Use, By Value, 2019–2030

Figure 55     Rest of Asia Pacific Modular Construction Market Size, By Value (USD Billion), 2019–2030

Figure 56     Rest of Asia Pacific Modular Construction Market Share, By Type, By Value, 2019–2030

Figure 57     Rest of Asia Pacific Modular Construction Market Share, By Material, By Value, 2019–2030

Figure 58     Rest of Asia Pacific Modular Construction Market Share, By Module, By Value, 2019–2030

Figure 59     Rest of Asia Pacific Modular Construction Market Share, By End Use, By Value, 2019–2030

List of Tables

Table 1    Asia Pacific Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 2    Asia Pacific Modular Construction Market Size, By Type, By Value, 2019–2030

Table 3    Asia Pacific Modular Construction Market Size, By Material, By Value, 2019–2030

Table 4    Asia Pacific Modular Construction Market Size, By Module, By Value, 2019–2030

Table 5    Asia Pacific Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 6    Asia Pacific Modular Construction Market Size, By Country, By Value, 2019–2030

Table 7    China Modular Construction Market Size, By Value (USD Billion), 2019–2030    

Table 8    China Modular Construction Market Size, By Type, By Value, 2019–2030    

Table 9    China Modular Construction Market Size, By Material, By Value, 2019–2030

Table 10   China Modular Construction Market Size, By Module, By Value, 2019–2030    

Table 11   China Modular Construction Market Size, By End Use, By Value, 2019–2030    

Table 12   India Modular Construction Market Size, By Value (USD Billion), 2019–2030    

Table 13   India Modular Construction Market Size, By Type, By Value, 2019–2030    

Table 14   India Modular Construction Market Size, By Material, By Value, 2019–2030

Table 15   India Modular Construction Market Size, By Module, By Value, 2019–2030    

Table 16   India Modular Construction Market Size, By End Use, By Value, 2019–2030    

Table 17   Japan Modular Construction Market Size, By Value (USD Billion), 2019–2030    

Table 18   Japan Modular Construction Market Size, By Type, By Value, 2019–2030    

Table 19   Japan Modular Construction Market Size, By Material, By Value, 2019–2030

Table 20   Japan Modular Construction Market Size, By Module, By Value, 2019–2030    

Table 21   Japan Modular Construction Market Size, By End Use, By Value, 2019–2030    

Table 22   South Korea Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 23   South Korea Modular Construction Market Size, By Type, By Value, 2019–2030

Table 24   South Korea Modular Construction Market Size, By Material, By Value, 2019–2030

Table 25   South Korea Modular Construction Market Size, By Module, By Value, 2019–2030

Table 26   South Korea Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 27   Australia & New Zealand Modular Construction Market Size, By Value (USD Billion), 2019–2030   

Table 28   Australia & New Zealand Modular Construction Market Size, By Type, By Value, 2019–2030

Table 29   Australia & New Zealand Modular Construction Market Size, By Material, By Value, 2019–2030

Table 30   Australia & New Zealand Modular Construction Market Size, By Module, By Value, 2019–2030

Table 31   Australia & New Zealand Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 32   Indonesia Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 33   Indonesia Modular Construction Market Size, By Type, By Value, 2019–2030

Table 34   Indonesia Modular Construction Market Size, By Material, By Value, 2019–2030    

Table 35   Indonesia Modular Construction Market Size, By Module, By Value, 2019–2030

Table 36   Indonesia Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 37   Malaysia Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 38   Malaysia Modular Construction Market Size, By Type, By Value, 2019–2030

Table 39   Malaysia Modular Construction Market Size, By Material, By Value, 2019–2030    

Table 40   Malaysia Modular Construction Market Size, By Module, By Value, 2019–2030

Table 41   Malaysia Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 42   Singapore Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 43   Singapore Modular Construction Market Size, By Type, By Value, 2019–2030

Table 44   Singapore Modular Construction Market Size, By Material, By Value, 2019–2030    

Table 45   Singapore Modular Construction Market Size, By Module, By Value, 2019–2030

Table 46   Singapore Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 47      Vietnam Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 48      Vietnam Modular Construction Market Size, By Type, By Value, 2019–2030

Table 49      Vietnam Modular Construction Market Size, By Material, By Value, 2019–2030

Table 50      Vietnam Modular Construction Market Size, By Module, By Value, 2019–2030

Table 51      Vietnam Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 52      Rest of Asia Pacific Modular Construction Market Size, By Value (USD Billion), 2019–2030

Table 53      Rest of Asia Pacific Modular Construction Market Size, By Type, By Value, 2019–2030

Table 54      Rest of Asia Pacific Modular Construction Market Size, By Material, By Value, 2019–2030

Table 55      Rest of Asia Pacific Modular Construction Market Size, By Module, By Value, 2019–2030

Table 56      Rest of Asia Pacific Modular Construction Market Size, By End Use, By Value, 2019–2030

Table 57      Laing O’Rourke Company Overview

Table 58      Laing O’Rourke Financial Overview

Table 59      Red Sea International Company Overview

Table 60      Red Sea International Financial Overview

Table 61      Atco Ltd Company Overview

Table 62      Atco Ltd Financial Overview

Table 63      Modulaire Group Company Overview

Table 64      Modulaire Group Financial Overview

Table 65      Bechtel Corporation Company Overview

Table 66      Bechtel Corporation Financial Overview

Table 67      Fluor Corporation Company Overview

Table 68      Fluor Corporation Financial Overview

Table 69      Koma Modular Company Overview

Table 70      Koma Modular Financial Overview

Table 71      Custom Shipping Containers and Modular Building Company Overview

Table 72      Custom Shipping Containers and Modular Building Financial Overview

Table 73      CIMC Modular Building Systems Company Overview

Table 74      CIMC Modular Building Systems Financial Overview

Table 75      Shanghai Star House Company Overview

Table 76      Shanghai Star House Financial Overview

Table 77      Other Prominent Players Company Overview

Table 78      Other Prominent Players Financial Overview