Apart from improving efficiency and lowering labor costs, Modular construction provides even more opportunities to improve cost efficiencies with its ability to shorten schedules and complete projects faster. New report shows that the modular construction business is booming By Jimmy Stamp • August 16, 2019 • National , Professional Practice , TECH+ The modular units for Carmel Place in … A report from the AIA states: The life expectancy of modular construction is the same as conventional, but modular construction is more ecofriendly than conventional construction. The global modular construction market forecast analysis from 2018 to 2026 is included in the report. Nick Bertram is an associate partner in McKinsey’s London office, Steffen Fuchs is a senior partner in the Dallas office, Jan Mischke is a partner in the Zurich office, Rob Palter is a senior partner in the Toronto office, Gernot Strube is a senior partner in the Munich office, and Jonathan Woetzel is a senior partner in the Shanghai office. The Farmer Review and Modular • In his October 2016 report, Modernise or Die, consultant Mark Farmer says a combination of the failure to replace retiring workers and low productivity means construction Today, modular construction is experiencing a new wave of attention and investment, and several factors suggest it may have renewed staying power. PLUMBING & FIRE PROTECTION ENGINEERING SOLUTIONS, Autodesk University (AU) 2020: Event Overview, 7 Construction Industry Trends to Watch in 2020, 8 Takeaways from McKinsey Modular Construction Report, Growth & Wage Increases for Companies Saving Money Through Modular Construction, Safer Working Conditions for Construction Teams. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion) and volume (Square Feet). New report shows that the modular construction business is booming By Jimmy Stamp • August 16, 2019 • National , Professional Practice , TECH+ The modular … New entrants and first movers that are unwilling to tolerate the industry’s fragmentation and lagging productivity are starting to disrupt the market and change the mind-sets of incumbents. Modular construction has become a vital component capable of driving the construction industry’s productivity. If you would like information about this content we will be happy to work with you. The modular approach also has the potential to yield significant cost savings, although that is still more the exception than the norm today. The global modular construction market is expected to witness high growth during the forecast period. Modular construction is one of its proposed solutions, with the method cited in the government white paper Fixing Our Broken Housing Market as one of the main ways of tackling the crisis. Modular construction technique has played an important role in producing construction elements quickly and efficiently. The Modular Construction Market report provides a detailed overview of the industry including both qualitative and quantitative information. 3. Modular construction is a form of off-site construction in which a building’s components, or modules, are constructed in a factory setting before being transported to site for assembly. It is important to plan ahead to address various site parameters and constraints of modular design and construction, and include them in the project management schedule and tasks, Modular construction has great potential in the United States: Based on the McKinsey 7 factors of modularization, the United States is one of the most promising countries for the expansion of modular construction. They spend significantly less on site time, and finally modular construction allow a building to be more readily deconstructed and moved to another location. Our new report, Modular construction: From projects to products, dives deeper into the issues. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Modular Construction Market was valued at USD 108.89 Billion in 2018 and is projected to reach USD 181.2 Billion by 2026, growing at a CAGR of 6.6% from 2019 to 2026.. The major factor driving the growth of the market studied is the increasing demand from construction industries in countries of Asia-Pacific. Global Modular Construction Market Report 2020 Full Report: 2350 USD Multi License (Section): 4700 USD Section Price: As below Page: 115 Chart and Figure: 124 Publisher: BisReport Delivery Time: 24 hour With … Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. Realizing the benefits of modular construction will require different stakeholders to make a series of choices. For example, at the heart of the education sector, the Priority School Building Programme (PSBP) requests 450 new school facilities per annum. The report for Global Modular Construction Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report provides key statistics on the market status of Global Modular Construction manufacturers and is a valuable source of guidance and direction … A report from McKinsey & Company stated that modular construction can decrease construction time by as much as 50%. Year Published: 2020. Now with more suppliers, better quality and the potential for substantial savings over traditional methods, could this approach finally achieve market success? Modular construction, as it is conceived today with its cellular structural assembly, limits a building’s potential for adaptive re-use. The global modular construction market is projected to grow from £65.4 billion in 2020 to £82.6 billion by 2025, at a CAGR of 5.7 percent, according to a report from ResearchandMarkets.com, as interest rises in the cost-effective construction method. tab. This SmartMarket Report examines the frequency of use of these methods, the benefits of using them and the drivers and obstacles for wider use of them in the future. These Modular construction … Here are the 8 Takeaways from McKinsey Modular Construction Report: 1. Digital upends old models. Modular construction has its challenges, but an experienced team can eliminate these issues: Modular construction flaunts several significant advantages that make it an outstanding choice for enormous scope development in the United States and all through the world, yet it accompanies a few difficulties. 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