According to Fortune Business Insights, the global modular construction market size was valued at $67.4 billion in 2019 and is projected to reach $106.22 billion by 2027. Prefabricated construction, a manufacturing process where the walls, roofs, floors, and modules of a building are built off-site in strictly regulated environments, offers many advantages compared to traditional construction methods.
Chris Irwin, Vice President sales EMEA & VP Global Marketing J2 Innovations, explains: ‘Modular building solutions have been gaining broader interest. By taking construction off-site and into the factory significant saving can be made. Waste is reduced and build times accelerated. Prefabricated buildings can be more cost-effective, sustainable and versatile. Modular building projects can be built some 30-50% quicker when compared with traditional methods. Time, ultimately, is money and prefabricated construction saves a lot of time’
Irwin continues: ‘Modular buildings also adopt the latest advanced manufacturing techniques and eco-solutions such as built-in plumbing, mechanical, solar panels, energy and control systems which will be shipped and assembled on site. As the market matures, there will be more opportunities for building-OEMS to pre-fit controls prior to shipping, akin to creating flat-pack building with pre-installed intelligence’