Increasing FDI in constructions has risen Modular constructions in the Asia Pacific.
Summary Modular construction in high-rise buildings market basically refers to the permanent modular construction (PMC) that comes in the form of modules such as bathroom modules, kitchen modules, and room modules, used in the high-rise building construction. Increasing FDI in construction in the Asia-Pacific region, supportive government regulations and policies, the establishment of SEZs, and minimized construction wastage are expected to have a positive impact on the modular construction for high-rise buildings market. However, market growth is hampered by fluctuating raw material prices, additional cost, and availability of skilled labor. Key Highlights The global modular construction for high-rise buildings market is expected to grow at 5.60% CAGR during the forecast period, 2017-2023. In 2016, the market was led by Europe with 41.13% share, followed by the Americas and the Asia Pacific with shares of 29.42% and 16.23%, respectively. Market Segmentation Th...