The Asia-Pacific modular construction market is expected to grow by 5.27% between 2021 to 2028. This region's growth is mainly ascribed to the increasing demand for residences across emerging countries and surging population base with the key areas of expected growth including social infrastructure, schools, hospitals, government accommodation, water, defence infrastructure, and water resources. New building technologies have been making the headlines as a quicker and cheaper way to address the massive increase in foot traffic, which is expected to affect 1.6 billion people by 2025.
With Bangkok's population expected to double from 5.6 million to 11 million by 2030, the Thai government has attempted to address the population surge through urban renewal projects. It aims to redevelop run-down inner-city areas using MMC methods, BIM-aided digital design and offsite manufacturing for accelerated construction times at an affordable rate.
In addition, modern construction methods will reduce the reliance on foreign labour as many of the modules used in construction are built offsite with opportunities coming into the markets such as data centres, logistics, residential and life sciences. The catalyst has been set for companies now to embrace Modular Precast and Prefabrication in Asia.
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