Modular Containers Sales Surging at 6% CAGR through 2021-2031 amid Rising Concerns Regarding Cost Reduction in Construction: Fact MR

NEW YORK, July 6, 2021 /PRNewswire/ -- Fact MR presents an impressive modular containers sales outlook for the forecast period from 2021 to 2031. As per the study, from 2016 to 2020, modular containers industry sales grew at 5.6% CAGR with overall market revenue totaling over US$ 2 Bn in 2020.

Fixed modular containers projected record growth at 0.5% to total 37,000 units, while relocatable modular containers witnessed positive growth at 1.7% to 103,300 units in 2021. Furthermore, modular containers demand will surge at 6% CAGR and the market revenue forecast to grow by 1.8X, reaching valuation of over US$ 3.8 Bn by the end of 2031.

The market is forecast to gain from the rising demand from various end users to reduce cost for construction. Manufacturers across globe are focusing on producing sustainable modular containers with energy efficiency certifications.

As these certifications require less pollution and emission footprint during project lifecycle, the focus on sustainability will continue increasing. This has resulted in the production of user-friendly, eco-friendly, and low-emission sustainable materials for modular containers.

For instance, Karmod, a leading brand in modular construction sector, has been emphasizing on production of green energy container houses under new generation container model. These green energy houses will provide solution for electrical power hurdles. As a result, it will boost modular containers sales demand.

According to the International Finance Corporation (IFC), green buildings construction will create favorable environment for a positive modular containers demand outlook. It is estimated that green buildings will surpass valuation of over US$ 24.7 trillion by 2030. Governments across some countries are supporting to provide loans, increase in FDI, investments, and subsidies to up demand for green buildings.

"Modular containers demand will rise in response to the rising focus on energy conservation in future residential construction of smart cities. Against this backdrop key companies are focusing on improving their expertise and product portfolio via strategic collaborations,,"said a Fact MR analyst.

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Key Takeaways from Modular Containers Market Research Report:

• North America is estimated to account for over 50% of modular construction demand with valuation of US$ 40 Bn in 2021.
• Modular containers in Canada is anticipated to account for over 4% of total construction.
• Modular containers accounts for over 15% of total construction in Japan.
• The U.K. accounts for construction output of US$ 2.1 Bn with over 7% of total off-site construction. This will create lucrative prospects for modular containers sales in the country.
• Modular containers market in China is projected to reach valuation of US$ 327 Mn by 2030, accounting for over 9% of total global modular containers market.
• By container length, revenue of modular containers of length between 10-20 feet is projected to grow at 7% CAGR in coming years due to its increasing use in larger construction projects.

Growth drivers:

• Governments across globe are promoting energy efficient infrastructure and manufacturing projects, which will propel demand of modular containers.
• Rising demand for relocatable modular containers will accelerate modular containers sales in the coming years.
• Global shipments of modular containers are expected to grow at 2.1% CAGR in 2021 to surpass over 140 thousand units.
• Top 5 key providers of modular containers hold 79% share of the market in 2020.This will fuel demand for modular containers.

Key restraints:

• Stringent regulations by some countries on construction of modular container or shipping container-based houses are restraining modular containers sales.

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Competitive Landscape

Key players are focusing on expansion, investment, acquisitions, portfolio expansion, and brand development to increase their market revene. For instance,

• In May 2021, McGrath RentCorp, the parent company of Mobile Modular Portable Storage, acquired Design Space, a leading Western U.S. modular building and portable storage provider with 2020 revenue of US$ 81Mn and EBITDA of US$ 32 Mn.
• In October 2020, Qingdao Xinguangzheng Steel Structure Co., Ltd. announced that Active Shade, one of its key projects funded by Qingdao Government spread in 85,000 square meters was put into operation.
• In August 2020, Henan K-home Steel Structure signed an agreement with Singapore Construction Company to order more than 200 sets of container houses.

Key players profiled in the modular containers market are:

• ATCO Ltd.
• Modulaire Group
• Qingdao Xinguangzheng Steel Structure Co., Ltd.
• Karmod Prefabricated Building Technologies
• Henan K-Home Steel Structure Co., Ltd.
• Mobile Modular Portable Storage
• Falcon Structures
• Thurston Group Limited
• Quick House Building Solutions
• BMarko Structures
• Craftsmen Industries Incorporation
• Panel Built Incorporation
• Cassone Leasing Incorporation
• Atrium Development Co.
• Kwikspace Modular Buildings

More Insights on the Modular Containers Sales:

Fact MR provides an unbiased analysis of the modular containers market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global modular containers outlook with a detailed segmentation on the basis of:

Type

• Fixed Modular Containers
• Relocatable Modular Containers
• Prefab Modular Containers

Container Length

• <10 FT Modular Containers
• 10-20 FT Modular Containers
• >20 FT Modular Containers

Material

• Steel Modular Containers
• Fibre-reinforced plastic (FRP) Modular Containers

Application

• Modular Containers for Residential Buildings
• Modular Containers for Office Buildings
• Modular Containers for Hotels and Motels
• Modular Containers for Retail
• Modular Containers for Warehouses
• Modular Containers for Healthcare Facilities
• Modular Containers for K-12 Schools
• Modular Container Kiosks
• Modular Containers for Other Applications

Key Questions Covered in the Modular Container Market Report 

• The report offers detailed insights into modular containers demand outlook for 2021-2031
• The market study also highlights projected sales growth for modular containers market between 2021 and 2031
• Modular containers sales outlook identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current sales valuation size and forecast and technological advancements within the industry 
• Modular containers demand sales provide analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others 

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SOURCE Fact.MR