The US housing shortage—particularly of affordable housing—could be eased by modular construction, but the technique hasn’t gained wide acceptance in North America compared with other nations, according to senior partners Jose Luis Blanco and Rob Palter and coauthors. North American modular companies set ambitious plans, but demonstrated only modest growth, at about 4 percent, from 2018–22.
Image description:
A bar chart displays the 5-year annual forecasts for the North American modular construction market CAGR from 2018 to 2022, compared with the actual average CAGR for the whole period. The bars for each year are composed of boxes, with each box representing a percentage point: 2018 with 8.9, 2019 with 8.1, 2020 with 12.2, 2021 with 6.5, and 2022 with 6.1. The actual average growth rate from 2018–22 for the each of the years is well below all of those estimates, 4.0.
Source: Inkwood Research, 2021; Marketsandmarkets Research, 2022; Mordor Intelligence, 2018–20.
End of image description.
To read the article, see “Making modular construction fit,” May 10, 2023.