Construction is one of the world’s largest sectors and modular construction could save the US and European markets up to $22 Billion per year*. With construction prices being so high right now, this could potentially revive the market. Improvements are being made to figure out ways to make this type of construction more affordable, lighter, and more precise. This all leads to utilizing more environmentally friendly materials, lower prices, and increase productivity.
Modular buildings are growing in popularity and the number of ways they can be used is also expanding.
Modular buildings are growing in popularity and the number of ways they can be used is also expanding. They can now be used for almost anything a permanent structure can be used for, including offices, retail stores and restaurants. Their increasing popularity is due to several factors:
- They're affordable. Modular construction much less than traditional building methods because it doesn't require land preparation (such as grading), foundations or concrete slabs.
- They're environmentally friendly. Since modular buildings are built off-site on a factory floor, they don't pollute the environment with construction debris or create any noise pollution.
The construction industry lost millions due to the coronavirus pandemic.
The construction industry lost millions of dollars due to the coronavirus pandemic.
- Businesses that were affected included builders and contractors, as well as suppliers and distributors of plumbing equipment, electrical materials, building supplies and other products used in the construction industry.
- Construction companies also lost revenue on projects that had been planned but not yet started due to cancellations or postponements.
- Some builders reported job losses among their employees because they could not work while they were receiving treatment for illness or recovering from injury caused by the virus.
Modular construction is an affordable solution to the construction industry's problems.
Modular construction is a great solution to the problems that face the construction industry. Modular construction is cheaper than traditional building methods, uses less materials and labor, and can be completed much faster than it would take to build using traditional methods.
Modular buildings can be used for almost anything a permanent structure can be used for. They are particularly useful when you want to put up a building quickly and cheaply, or if you temporary buildings for events. Modular buildings are often constructed on-site and put together piece by piece, allowing them to be built faster than traditional houses or commercial buildings that are built off-site and then shipped in multiple pieces.
Modular buildings can also be used as housing units, office space, retail stores/stores with offices attached—basically any kind of building where people need to work together or have access to living quarters within the same building.
Looking to 2023
Modular construction is the future of our industry. There are signs that modular construction could be a genuine market disruptor. Now is the perfect time for modular buildings because they can be built quickly while still providing high quality workmanship. They're also environmentally friendly and cost effective compared with other forms of construction. After decades of slow change, 2023 sees modular construction disrupting and making a larger impact on the construction industry.