Top Modular Construction Companies

Global Modular Construction Market size was valued at USD 104.67 Billion in 2023 and is poised to grow from USD 112.62 Billion in 2024 to USD 202.36 Billion by 2032, growing at a CAGR of 7.6% in the forecast period (2025-2032).

The global competitive environment for modular construction is highly competitive with market domination by large companies such as Laing O Rourke, Katerra, and Guerdon Modular who operate through sophisticated technologies and strong government co-operation. Governments worldwide are facilitating co-operation by means of public-private partnership and grants for innovation; for example, the UK's Innovate UK has provided over USD 150 million for researching and developing modular construction. In addition, companies focus on digitalization and sustainability, supported by regulatory regimes like Japan's Smart City Initiative to drive prefab solutions. Strategic alliances and mergers are common in order to expand geographic presence and supply chain strength and align government aspirations with low-cost, rapid housing development and infrastructure development across the globe.'Cavco Industries, Inc. (USA)', ' Sekisui Chemical Co., Ltd. (Japan)', ' ATCO Ltd. (Canada)', ' Bouygues Construction ', 'Red Sea Housing Services (Saudi Arabia)', ' Laing O Rourke (UK)', ' Kleusberg GmbH & Co. KG (Germany)', ' Modulaire Group (UK)', ' Skanska AB (Sweden)', ' Balfour Beatty plc (United Kingdom)', ' ACS Actividades de Construccion y Servicios S.A. (Spain)', ' Lendlease Corporation (Australia)', ' Bechtel Corporation (USA)', ' Fluor Corporation (USA)', ' Vinci SA (France)', ' Daiwa House Industry Co., Ltd. (Japan)', 'Clayton Homes (USA)', ' CIMC Modular Building Systems (China)', ' Algeco Scotsman (USA)'

Rapid urbanization, with 68% of the global population projected to be urbanized by 2050 (UN, 2023), fuels the demand for housing. Governments all over the world, like India's PMAY aiming at 20 million affordable housing units, are adopting modular construction for faster delivery. Industry giants like Katerra and Guerdon Modular deliver projects 50% faster at half the costs. Modular houses are promoted by the U.S. HUD to address the shortage and Australia is investing USD 54 million in modular housing schemes, which is a reflection of global reliance on modular methods to overcome the urban housing issues efficiently.

Growing Focus on Sustainable Modular Construction: Governments worldwide are focusing on sustainability, with the EU's Green Deal investing over USD 600 billion in green building innovation, including modular processes. This puts a premium on the use of recycled material and low-energy building designs, supported by policies, encouraging manufacturers to create more environmentally friendly modular solutions in line with global carbon reduction targets.

What makes North America the top market for modular construction in 2024?