Modular Construction – What is it?
With the start of the new year, I was curious as to what the predictions were (and are) for our industry in the year 2019. After a bit of research, I was intrigued by an article discussing “Modular Construction.” While I hadn’t necessarily heard the exact term thrown around the office (remember, I’m in my own marketing world for a good part of the week), I have heard its counterpart ‘prefabricated construction’ quite a bit. I had even written about our use of the method but was interested when I read the ‘why’ behind it. Here are some of my findings:
Modular Construction Trends
Modular construction, also known as prefabricated construction, is a type of construction in which prefabricated sections of structures are built at off-site facilities. These sections are then transported to the jobsite where they are used for assembly. Not only does this help to drastically speed construction time, but the lightweight materials used reduce cost and environmental impact. It’s no wonder this will continue to be trend in construction today.
The benefits don’t just end there, however. It’s a flexible and versatile model in which clients can customize structures based on their needs – whether that’s office buildings, restrooms, homes, to name a few.
From the article:
Several studies show that the modular construction market will rise in the coming years. In 2017, Markets and Markets showed a $106.15 billion value in the modular construction market. They projected that this value will reach $157.19 billion by 2023, forecasting a compound annual growth rate of 6.9%.
Rising construction costs and increased construction activity combined with a mass effort toward environmentally friendly construction practices are contributing factors to the rise in modular construction.
The article mentioned above states that the most significant influences on the shift to modular construction is the “demand for new housing units and increased investment in the infrastructure sector.”
The author does mention a few challenges including overcoming a negative perception and the general learning curve that comes with a new technique. However, the cost-effective, environmentally friendly trend will surely continue to take off as the industry continues to boom.