Modular Container Market Size, Industry Analysis Report By Type (Mobile Modular Containers, Fixed Modular Containers), By Revenue (New Product Sales, Rental), Usage (Office Container, Sanitary Container, Locker Container, Showroom Containers, Accommodation Containers, Storage Containers), By Application (Construction, Industrial, Education, Healthcare, Automotive) & Region – Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 254
- CATEGORY
- Automotive & Transportation
The Modular Container Market is valued at around USD 2 Billion in 2022 and is expected to reach USD 3.8 billion by 2030, registering a CAGR of 5.6% over the forecast period. Prefabricated steel buildings called modular containers are utilised as workplaces, hospitals, labs, schools, worker camps on construction sites, and overnight accommodations. Numerous advantages of modular containers include ease of installation, financial effectiveness, and environmental friendliness. Customers can add windows, doors, and off-grid electrical generating to their containers to make them more unique
The Modular Container Market - Growth Factor
The market is anticipated to benefit from the increase in demand from different end users to lower construction costs. Globally, manufacturers are concentrating on creating energy-efficient modular containers that are sustainable. The emphasis on sustainability will keep growing as these certifications demand less pollution and emission impact during project lifecycle. As a result, ecological, low-emission, and user-friendly materials are already being produced for modular containers. Getting the necessary permits to build a modular container-based home can be time-consuming and need additional work because the demand for prefabricated homes is still relatively young. Modular container homes are permitted in a number of states in the US, nevertheless, including Texas, California, Colorado, and Oregon. Construction is hampered by improper permissions or building rules, which has a negative impact on market expansion. The difficulties in obtaining utility authorizations could prevent containers from being used as homes.
The Modular Container Market – Market Trends
• The expanding demand for environmentally friendly building presents profitable potential for the target market. Manufacturers are refocusing their efforts on creating environmentally friendly, energy-efficient buildings in an effort to reduce pollution and the project's overall carbon footprint.
• Manufacturers are working harder to create energy-efficient modular containers for a variety of markets, including agricultural, industry, government, manufacturing, education, and retail.
• The market's expansion is being held back by difficulties in acquiring the required licences to erect modular homes made of shipping containers.
The Modular Container Market – Segmentation
The Modular Container Market fragrance concentrates market has been sub-classified into type, revenue source, usage, container, size, application.
On the basis of type, the Modular Container Market is bifurcated into:
• Mobile modular containers
• Fixed modular containers
• others
On the basis of revenue, the market is segmented into:
• new product sales
• rental
• others
on the basis of usage, the market is segmented into:
• office container
• sanitary container
• locker container
• showroom containers
• accommodation containers
• storage containers
• others
On the basis of container size, the market segmented into:
• below 10 feet
• 10-20 feet
• 21-40 feet
• Above 40 feet
• Others
On the basis of application, the market segmented into:
• Construction
• Industrial
• Education
• Healthcare
• Automotive
• Others
The Modular Container Market –Regional Analysis
North America dominated the global Modular Container Market, is anticipated to rule the market for the foreseeable future. Due to the tremendous expansion of infrastructure and industries, modular construction is becoming more and more common in the United States. Currently, 4% of the nation's housing market is made up of modular construction. However, according to industry analysts, modular construction would likely be used in at least half of the future projects over the course of the next three years.
The Modular Container Market – Key Market players
Global key players of Modular Container Market include MODULE-T PREFABRIK SYSTEMS DIS TIC LTD STI; Prefabex; McGrath RentCorp; Prefabricated Modular Steel Structures - MODSTEEL; HENAN K-HOME STEEL STRUCTURE CO., LTD.; Kwikspace; Falcon Structures; Truston; WillScot Mobile Mini Holdings Corp.; PODS Enterprises LLC, and others.
Report scope
Global Modular Container Market: Historical Years- 2018-2021
Global Modular Container Market: Forecast Years- 2022-2030
Global Modular Container Market 2022- USD 2 Billion
Global Modular Container Market 2030- USD 3.8 billion
Global Modular Container Market CAGR- 5.6%
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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