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An increase in urbanisation and industrialization are expected to drive innovation in modular and prefabricated non residential building construction manufacturing, thus driving the market during the forecast period.

The global modular and prefabricated non residential building construction market is expected to grow from $68.78 billion in 2022 to $72.56 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The global modular and prefabricated nonresidential building construction market size is expected to grow to $89.74 billion in 2027 at a CAGR of 5.5%.

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Global Modular And Prefabricated Non Residential Building Construction Market Segments Include:

• By Type: Standard Metal, Agricultural Metal, Modular Nonmetal, Panelized Precast Nonmetal
• By Application: Institutional, Industrial, Commercial, Agricultural
• By End User: Private, Public
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global modular and prefabricated non residential building construction market in 2021.

Major Market Players in the modular and prefabricated non residential building construction market include Algeco Scotsman, Butler Manufacturing Company, Inc., Champion Home Builders, Inc., Red Sea Housing.

The construction industry is considered to be slow and conservative in adopting innovative and new technologies. The construction sector comprises numerous small suppliers, and the R&D budget is also limited in comparison to other sectors. In developing or underdeveloped countries of the Asia-Pacific region, as well as in Africa and South America, people are less aware of this construction method, the advantages it offers, and the recyclability of modular buildings. Therefore, it is important to educate consumers regarding the positive effects of modular construction on the environment and the way it can contribute to a healthy lifestyle.

The Modular and Prefabricated Nonresidential Building Construction Global Market Report 2023  provides a modular and prefabricated non residential building construction market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The modular and prefabricated non residential building construction market forecast analyzes modular and prefabricated non residential building construction market size, modular and prefabricated non residential building construction market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Modular and prefabricated non-residential building construction is the process of building, altering, repairing, improving, or demolishing any non-residential building or structure which is developed off-site using the same resources and constructing the same codes and specifications as conventionally designed structures but in about half the time.

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