Modular Construction Market Overview
The global modular construction market size is estimated to grow from USD 2.5 billion in 2023 to USD 7.7 billion by 2035, representing a CAGR of 9.89% during the forecast period 2023-2035.
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In the past few years, modular facilities or prefabricated buildings have emerged as a promising alternative to the conventionally built pharma / biotech manufacturing facilities. Modular construction involves building of structures using prefabricated modular units, off-site, under controlled factory setting, which are later assembled on site.