Modular Construction Market SWOT Analysis and Opportunity and Forecast To 2028

 The global modular construction market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.4% in the forecast period of 2023 to 2030.Increased support from government rules and policies and a renewed focus on upgrading healthcare infrastructure are expected to provide opportunities in the global modular construction market. However, a lack of awareness regarding modular constructions is projected to challenge the market growth.The major factor driving the growth of the global modular construction market is the ability to complete projects quickly compared to traditional on-site buildings. Growing emphasis on sustainability, quality, worker safety, and ease of disassembling, refurbishment, and relocation of modular constructions are expected to propel the global modular construction market growth. The major restraints that may negatively impact the global modular construction market are the lack of reliability in modular construction in earthquake-prone regions and fluctuating transportation costs for prefabricated modules.


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