How big is the Modular Market | Industry Size, Opportunities & Key Drivers 2025

Q: What is the overall size of the modular market?

The modular market is projected to reach USD 147.2 billion by 2031.

Q: What is the CAGR of the modular market during the forecast period?

The modular market is expected to grow at a CAGR of 7.4% during the forecast period.

Q: Which region is expected to dominate the modular market?

North America and Europe are expected to dominate due to high adoption of modular technologies in construction.

Q: Who are the key players in the modular market?

Some of the major players include Laing O'Rourke, Red Sea International Company, Guerdon Modular Buildings, and Modulaire Group.

Q: What are the major segments driving the modular market growth?

Key segments include residential buildings, healthcare, education, and commercial applications using volumetric and panelized modular systems.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA7580

Publication Date: Aug 2025

How big is the Modular Market?

According to 6Wresearch internal database and industry insights, the Modular Market was valued at approximately USD 89.4 billion in 2024 and is projected to reach USD 147.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.4% during the forecast period.

The modular market is expanding due to a number of factors, including growing urbanization, the need for faster construction methods, cost effectiveness, sustainability requirements, and technological advancements in modular construction.

Growth Factors for Modular Market

Increasing urban demand for reasonably priced housing options
Construction projects that save time are growing in popularity.
Increasing knowledge of green and sustainable building practices
Government incentives and policies that promote modular infrastructure
Off-site prefabrication and 3D printing technological advancements offer the advantages of scalability and customization for both commercial and residential spaces.

Modular Market Trends

The Modular Market is witnessing strong momentum driven by evolving construction models and smart city developments. Conventional building techniques are changing as prefabricated structures are used more often in commercial, industrial, and residential projects. Market participants are concentrating on hybrid modular designs, automation, and the integration of BIM. Additionally, due to their quick deployment and adaptable design features, modular solutions are becoming more and more popular for temporary housing, healthcare facilities, and schools.

Emerging Developments in the Modular Market

Emerging developments in the Modular Market include the integration of digital twins for real-time tracking and performance optimization of modular buildings. Companies are increasingly using robotic assembly lines and AI-based project planning tools to minimize waste and construction errors. Innovations in modular high-rise buildings and eco-friendly building materials are further expanding application areas. Partnerships between modular manufacturers and real estate developers are growing to address affordable housing challenges worldwide.

List of Leading Companies in the Modular Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Laing O'Rourke

Company Name	Laing O'Rourke
Established Year	1978
Headquarters	Dartford, United Kingdom
Official Website	Click Here

Laing O'Rourke specializes in off-site modular construction solutions for infrastructure and commercial buildings, integrating design and digital technology to drive efficiency.

2. Red Sea International Company

Company Name	Red Sea International Company
Established Year	1981
Headquarters	Riyadh, Saudi Arabia
Official Website	-

Red Sea International Company provides modular building solutions for commercial, residential, and industrial sectors, with expertise in remote and rapid-deployment structures.

3. Guerdon Modular Buildings

Company Name	Guerdon Modular Buildings
Established Year	2001
Headquarters	Boise, USA
Official Website	Click Here

Guerdon Modular Buildings offers modular construction services for multi-family housing, hotels, and student housing across the western United States.

4. Katerra

Company Name	Katerra
Established Year	2015
Headquarters	Menlo Park, USA
Official Website	-

Katerra delivers modular solutions integrating design, supply chain, and technology, focusing on residential and commercial developments.

5. Algeco Scotsman (Modulaire Group)

Company Name	Algeco Scotsman (Modulaire Group)
Established Year	1955
Headquarters	London, United Kingdom
Official Website	Click Here

Algeco Scotsman (Modulaire Group) provides modular space and secure storage solutions across Europe and the Middle East with diverse applications.

6. Lendlease Modular

Company Name	Lendlease Modular
Established Year	1958
Headquarters	Sydney, Australia
Official Website	Click Here

Lendlease Modular delivers modular design and construction for urban regeneration and infrastructure projects, emphasizing sustainability and digital construction.

7. Hickory Group

Company Name	Hickory Group
Established Year	1991
Headquarters	Melbourne, Australia
Official Website	Click Here

Hickory Group offers volumetric modular construction for high-rise buildings, combining design innovation with efficient project delivery.

8. NRB Modular Solutions

Company Name	NRB Modular Solutions
Established Year	1979
Headquarters	Calgary, Canada
Official Website	Click Here

NRB Modular Solutions provides customized modular buildings for healthcare, education, and workforce accommodations, focusing on sustainable practices.