Modular Construction: Future Growth and History
Modular construction dates back to the turn of the 20th century and has a modernist feel to both its inception and its continued approach. The real demand for modular construction came after World War II, with the modern-day conception of the nuclear family. With the demand for new homes after the war, there was a need for fast construction for new housing to accommodate these growing families. Modular construction serviced those needs. Today, many of those units, constructed well-over 50 years ago, are still in use.
Modular construction for buildings, like educational facilities, military housing, apartments, administrative spaces, hospitality units, and healthcare facilities are gaining in popularity. These are the primary and continually growing markets that modular construction serves.
Modular Construction Growth in the Industry
According to a recent report on modular construction, there is expected to be significant growth in the industry in the coming years. The market size is forecasted to grow from an estimated $92.18 billion in 2018 to $130 billion in 2030. This is due to the rise in demand for affordable construction for rapid development and industrialization.
In the coming years, modular construction in both Europe and the US could produce yearly savings of up to $22 billion for construction firms.
The continued growth in popularity for modular construction is due to its time-saving, and cost-effective approach. In European countries, modular development is rapidly growing; in the UK the application of modular building methods increased by around 6% in 2017. This rapid growth is likely due to modular construction not needing as much space onsite — in countries where space and location are limited, this is a necessity. Other cities across the globe are starting to follow suit.
The Stack apartment building in New York City serves as a shining example of how modular construction can complete a large building project on time, on budget, and in a very limited space.
The Modular Construction Process
Modular construction is a faster process that drastically decreases the likelihood of going over-schedule and over-budget. Since modular construction begins in a controlled, enclosed environment offsite, this helps avoid normal pitfalls in traditional modular construction such as inclement weather. This can improve the quality of the construction itself.
Offsite construction decreases the possibility of a labor shortage or scheduling issues delaying the completion time, especially with the construction industry’s dwindling labor force. A modular construction company will usually employ a group of full-time employees in the manufacturing facility to address all required off-site construction and manufacturing of the modules; a consistent workforce tends to make modular construction faster and of higher quality than traditional construction methods.
Here are some important statistics to consider about construction projects utilizing modular construction methods:
- 35% slashed their schedules by a month
- 65% lowered the cost of the project
- 77% decreased construction waste
Big construction projects can take about 20% longer to finish than scheduled and can often run up to 80% over budget. Modular construction can improve the budget when it comes to a wide variety of construction projects, and the process is faster than traditional methods. Offsite construction can be an effective budget and time-saver.
Modular construction may date back to the turn of the 20th century, but it’s methods and practices are always looking to the future.
