Nothing succeeds like success: according to Fortune Business Insights (www.fortunebusinessinsights.com), Modular Construction is expected to be worth $114.78 billion globally within the next six years, with a compound annual growth rate of 6.1%. And to put that in perspective, this is significantly more than half what the international rail sector is worth and more than six times as much as the UK committed to public infrastructure projects last year. From relatively small beginnings, modular technologies are now a major player on the world stage…and that shouldn't come as any surprise to anyone. After all, when sustainability matters more than ever, with a growing housing crisis and increasing levels of homelessness, building back better and smarter is more important than ever…And nothing meets those complex challenges better than modular technologies.
In a world of disconnects and complex change, this is Modular's shining moment…
Perhaps significantly, it's shining more brightly than ever in Asia: already a hotbed of eco-friendly construction projects, modular programmes are currently being delivered there on a scale that was previously the stuff of dreams. Green initiatives such as the Vertical Forest in China (www.dezeen.com), and India's Eco-Schools Programme (www.ecoschools.in), promote sustainable development across hundreds of schools on the Subcontinent. Projects like these are critically dependent on the planet friendly nature of modular construction.
And despite its apparent social significance, building back smarter doesn't just mean more new homes for the homeless (although it certainly means that too): it also means new hospitals, better office buildings, hotels, and (yes) new schools. All of them climate friendly, and benefitting from the greener and less waste hungry variables Modular has to offer.
The key to unlocking all of that potential is, of course, emerging technologies: as an amalgam of construction and manufacturing, prefabricating units off-site to deliver twice as fast and 30% more profitably than its dinosaur counterparts, Modular Construction is uniquely well placed to harness the power of technology: so welcome to lean production on steroids…bringing together Building Information Modelling and Augmented Reality to save costs, reduce waste and deliver projects when and where they matter most.
There's a new kid on the block…and it's faster and smarter than ever.
It's a heady mix for success: construction, manufacturing and emerging technologies. And right now, Modular Construction combines all three…no wonder it's doing so well.
Modulex Construction (www.modulex.in) is the World’s largest Steel Modular Building Company. It was established by Red Ribbon (www.redribbon.co) to harness the full potential of fast evolving technologies, and deliver at pace to meet social needs within global communities.