Modular Building Supplier Forecast: International Modular Building Landscape

Modular building suppliers are becoming more and more renowned in the world of construction. It’s not because the concept of modular construction is fairly new. It is more so because there are advances being made in the industry. Today’s modular construction has infused old principles — the fabrication of building elements in a controlled factory environment followed by transportation and assembly on site — with a contemporary twist. Therefore, considering these upgrades, the modular construction market is expected to continue a positive trajectory. In this blog, we will discuss the modular industry on a global scale and what to expect in 2024. In addition, we will share why Aries is your top-choice for a modular building supplier.

Several factors are driving growth, including the demand for safer, faster, and more cost-effective construction methods. Add in a focus on sustainability, technological advancements, and economic demands for modular solutions as well. The advantages of modular construction in comparison to traditional construction methods make it the preferred choice. For numerous construction projects that seek to economize time, finances, and resources, the benefits of these methods meet the demand. Let’s look at these trends.

Key trends in modular construction

Convenience:

The demand for quicker construction approaches has led to increased interest in modular construction. Off-site module fabrication and on-site assembly expedite construction schedules, which is particularly beneficial for projects with tight deadlines.

Sustainability:

The growing emphasis on sustainability in construction has led to a rising interest in modular construction, which provides numerous eco-friendly advantages. These include waste reduction, enhanced energy efficiency, and the utilization of environmentally friendly materials. More specifically, strategies like reducing the embodied carbon in critical construction materials, implementing passive design principles, and utilizing energy-efficient equipment minimize the carbon dioxide emissions associated with both the construction and operation of buildings.

Diversifying into other market segments:

Modular construction has extended its reach beyond residential projects, encompassing diverse sectors like commercial, industrial, and infrastructure development. This expansion has unlocked novel avenues for companies to venture into and establish their presence in various markets. A modular building supplier can aid businesses in this diversification.

Advancing technologies:

Leveraging technologies and methodologies has played a part in the growing market. Optioneering driven by generative design, simulations, and Building Information Modeling (BIM) are a few examples. New technologies such as BIM, IoT sensors, and 3D printers are empowering. These technologies allow companies to model a building’s performance, estimate its carbon footprint, and project both cost and schedule before construction begins.

The future of the modular building market: 2024 and beyond

The modular market can be categorized into two primary segments based on the end-use sector and materials. Concerning the end-use sector, the residential segment presently commands the largest share at 60%. The commercial, industrial, and infrastructure segments are not far behind. Moreover, the commercial sector emerged as the largest end-user industry segment in 2020. It is projected to exhibit significant growth during the forecast period. This can be attributed to the surging demand for modular offices, retail outlets, hotels, restaurants, and various other commercial establishments that necessitate swift and efficient construction solutions. Here is where a turnkey modular building supplier can make the difference.

International insights

Presently, North America leads the way in the modular construction market. It is primarily fueled by the robust demand for sustainable and energy-efficient structures. This trend can be attributed to swift urbanization, and population expansion as well as infrastructure development. Government endorsements, and growing awareness of modular construction in emerging economies like China, India, Japan, South Korea, and Australia add to the trend. Rapid urbanization and industrialization in countries such as China, India, and other southeast Asian nations are propelling the demand. This is partly due to the lack of affordable housing.

Other regions, including Europe, Latin America, the Middle East, and Africa, are also gradually adopting modular construction techniques. Although the growth in these regions is comparatively slower compared to North America and Asian Pacific, the potential for further utilization of modular solutions in these areas remains great.

Future outlooks and how leading modular building supplier, Aries, will uphold high standards.
Because the market is expected to maintain this growth trajectory in the years to come, Aries is committed to staying abreast of industry advancements.

Aries recognizes that as they enter a new year, increasing emphasis on sustainability and efficiency underscores the importance of adaptability and agility. The company will remain flexible by embracing new technologies, analytical methods, and expanding their client base. The process of digital transformation will enable them to enhance efficiency, cut down on emissions and waste, reduce costs, and create new revenues of value.

More about Aries Buildings

Aries is a renowned provider of modular buildings in the U.S. and Canada. Catering to various industries with tailored space solutions, their expert team offers a range of modular options such as mobile offices, construction trailers, classrooms, and housing. They focus on customer needs. Aries excels in delivering exceptional support, flexible financing, and efficient solutions.

For more information on their modular buildings, visit Aries Buildings’ website: www.ariesbuildings.com or call 1-888-598-8869.