Room Cell Module Market to Reach USD 46.17 billion by 2027; Heavy Investment in Public Infrastructure to Aid Expansion, states Fortune Business Insights™
Pune, Aug. 05, 2020 (GLOBE NEWSWIRE) -- The global room cell module market size is predicted to reach USD 46.17 billion by 2027, exhibiting a CAGR of 5.2 % during the forecast period. The growing awareness regarding the cost-saving advantage of room cell units in the construction industry will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Room Cell Module Market Size, Share & COVID-19 Impact Analysis, By Material (Wood, Cross Laminated Timber, Steel Frame, Concrete and Others), By Application (Residential, and Non-Residential), and Regional Forecast, 2020-2027” the market size stood at USD 30.93 billion in 2019.
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The report on the market of room cell module includes:
- Market drivers and restraints
- Frequent strategies implemented by competitors
- Global records and market figures
- Leading region in terms of revenue and share
- Covid-19 impact on the market
Reduced Construction Time of Room Cell to Fuel Market Demand
The enormous investments by the government in the construction of residential & commercial buildings along with public infrastructure will have a positive impact on the market during the forecast period. For instance, in 2017, the International Code Council (ICC) and the Modular Building Institute (MBI) collaborated to accelerate the modular & off-site construction in Europe. The low cost of room modular structure is one of the key reasons for its inclination. Wood, timber, steel, and concrete are the types of materials used in the construction of room cells for protection against wind and water. The growing consumption of highly durable material for building these structures will create lucrative opportunities for the market in the forthcoming years.
Decline in Construction Activities During COVID to Retard Market Development
The disturbance in international trade has severely affected the market in the U.K., Germany, China, India, and others. UN Department of Economic and Social Affairs (DESA) stated that the COVID-19 has disrupted the international trade and global supply chain processes.
According to The Timber Trade Federation (TTF), the importers, distributors, and merchants in the United Kingdom have suspended their business activities. Besides, the U.K. timber importers have due orders owing to supply chain disruption, thus limiting the wood and timber trading in European countries. The halt in construction activities in India due to the lockdown can further restrict the growth of the market in the region.
Rising Urbanization to Boost Market to Growth in Asia Pacific
The market in Asia Pacific generated a revenue of USD 9.57 billion in 2019 and is expected to grow rapidly during the forecast period. The growth in the region is attributed to robust economic progress in India, China, and Japan. The rapid urbanization and high investment non-residential sector will have a tremendous impact on the market. North America is predicted to witness a substantial growth rate during the forecast period. The growth in the region is attributed to developing infrastructure in the US. The renovation of hospitals, hotels, and residential buildings will create sales opportunities for the market in the region.
April, 2019: Kaufmann Bausysteme GmbH won the WIPIM Award for the largest wood module house across the globe. The company offers versatility of modules that are equipped with high quality of craftsmanship
List of the Leading Companies Profiled in the Room Cell Module Market Research Report are
- RED SEA HOUSING (Jeddah, Kingdom of Saudi Arabia)
- Kaufmann Bausysteme GmbH (Vorarlberg, Austria)
- Metric Modular (Agassiz, British Columbia)
- Skender (Chicago, Illinois)
- Max Bögl Bauservice GmbH & Co. KG (Bavaria, Germany)
- Lechner Group GmbH (Hesse, Germany)
- KLEUSBERG GmbH & Co. KG (Wissen, Germany)
- Katerra (Menlo Park, California)
- Ramtech Building Systems Inc. (Texas, United States)
- ATCO LTD. (Alberta, Canada)
Room Cell module Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/103366
Detailed Table of Content
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- COVID-19 Outbreak: Room Cell Module Industry Impact
- Global Room Cell Module Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Material (Value)
- Cross-Laminated Timber
- Steel Frame
- Others (Glass, etc.)
- Market Sizing Estimations and Forecasts – By Application (Value)
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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