The North America modular construction market size reached USD 28.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 43.7 Billion by 2033, exhibiting a growth rate (CAGR) of 4.56% during 2025-2033.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024
|
USD 28.6 Billion |
Market Forecast in 2033
|
USD 43.7 Billion |
Market Growth Rate 2025-2033 | 4.56% |
Modular construction includes off-site prefabrication of single or multi-storey structures before being installed on the main construction site. It includes the construction of various components, such as ceilings, doors, walls, floors, beams, columns, etc., that are joined together to make a single structure by deploying cranes and other lifting or rigging tools. Modular construction offers easy relocation or expansion, improved quality control, reduced construction time, better design options, and minimized waste production. In North America, modular construction is increasingly being adopted as a sustainable and eco-friendly alternative to traditional construction methods.
The increasing demand for prefabricated building structures along with growing focus on reducing overall construction cost and time is primarily driving the market for modular construction in North America. Furthermore, the rising number of infrastructure projects, including healthcare facilities, corporate buildings, modern housing centers, educational institutes, etc., is also propelling the market growth. Additionally, the rising environmental concerns towards increasing level of carbon emissions from conventional construction methods are further driving the demand for modular construction in the region. The introduction of numerous government initiatives for promoting the construction of green buildings across the United States and Canada, is also catalyzing the market. Moreover, the high prevalence of extreme cold weather in the region leading to shorter daytime and heavy snowfall that inhibit on-site construction methods is also propelling the need for modular construction. Moreover, the growing integration of numerous advanced technologies with prefabrication methods, such as 3D printing, artificial intelligence, Building Information Modeling (BIM) etc., are expected to further drive the market for modular construction in North America.
The outbreak of the COVID-19 pandemic, in early 2020, however, has negatively impacted the market for modular construction in North America. The introduction of stay-at-home measures across the region has led to the postponement of numerous construction activities, disrupted supply chains, and led to the temporary closure of facilities, thereby hampering the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the North America modular construction market report, along with forecasts at the regional and country level from 2025-2033. Our report has categorized the market based on division, sector and material.
Breakup by Division:
Breakup by Sector:
Breakup by Material:
Breakup by Country:
The competitive landscape of the industry has also been examined with some of the key players being Aries Building Systems, LLC, ATCO Ltd., Boxx Modular, Inc. (Black Diamond Group), Mobile Modular Management Corporation (McGrath RentCorp, Inc.), Modular Genius, Inc., Satellite Shelters, Inc., Triumph Modular Corporation, Vanguard Modular Building Systems, LLC, Vesta Modular, and Willscot Corporation.
Report Features | Details |
---|---|
Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Division, Sector, Material, Country |
Countries Covered | United States, Canada |
Companies Covered | Aries Building Systems, LLC, ATCO Ltd., Boxx Modular, Inc. (Black Diamond Group), Mobile Modular Management Corporation (McGrath RentCorp, Inc.), Modular Genius, Inc., Satellite Shelters, Inc., Triumph Modular Corporation, Vanguard Modular Building Systems, LLC, Vesta Modular, and Willscot Corporation |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The North America modular construction market was valued at USD 28.6 Billion in 2024.
We expect the North America modular construction market to exhibit a CAGR of 4.56% during 2025-2033.
The rising consumer environmental consciousness, along with the increasing demand for time and cost-effective construction solutions, such as modular construction, is primarily driving the North America modular construction market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several North American nations, resulting in a temporary halt in numerous construction activities, thereby negatively impacting the North American market for modular construction.
Based on the division, the North America modular construction market can be categorized into Permanent Modular Construction (PMC) and Relocatable Buildings (RB). Currently, Permanent Modular Construction (PMC) accounts for the majority of the total market share.
Based on the sector, the North America modular construction market has been segregated into public, residential, commercial, and others. Among these, the residential sector holds the largest market share.
Based on the material, the North America modular construction market can be bifurcated into wood, concrete, steel, and others. Currently, wood exhibits a clear dominance in the market.
On a regional level, the market has been classified into United States and Canada, where United States currently dominates the North America modular construction market.
Some of the major players in the North America modular construction market include Aries Building Systems, LLC, ATCO Ltd., Boxx Modular, Inc. (Black Diamond Group), Mobile Modular Management Corporation (McGrath RentCorp, Inc.), Modular Genius, Inc., Satellite Shelters, Inc., Triumph Modular Corporation, Vanguard Modular Building Systems, LLC, Vesta Modular, and Willscot Corporation.