Market strategies and opportunities in the modular and Prefabricated Housing Construction

The benefits of modular and prefabricated construction are expected to draw multinational construction organisations' attention to modular housing construction, resulting in increased revenue for the multifamily modular and prefabricated house construction market

FREMONT, CA: The multifamily modular and prefabricated house building market is predicted to expand at a compound annual growth rate (CAGR) of 24.9 percent from $17.09 billion in 2020 to $21.34 billion in 2021,According to the new market research report ‘Multifamily Modular And Prefabricated Housing Construction Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company. At a CAGR of 7%, the market is estimated to reach $27.73 billion in 2025. The benefits of modular and prefabricated construction are expected to draw multinational construction organisations' attention to modular housing construction, resulting in increased revenue for the multifamily modular and prefabricated house construction market during the projection period.

Modular construction is a method of building and inspecting units offsite in a manufacturing plant while the podium, foundation, and infrastructure are constructed on-site.