GCC Modular Construction Market to Grow at a CAGR of 4.50% during 2024-2032
GCC Modular Construction Market Overview Base Year: 2023 Historical Years: 2018-2023 Forecast Years: 2024-2032 Market Growth Rate: 4.50% (2024-2032) The GCC modular construction market is growing due to rapid urbanization, cost efficiency, and the demand for sustainable building solutions. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 4.50% from 2024 to 2032. GCC Modular Construction Market Trends and Drivers: The GCC modular construction market growth is primarily driven by expanding urbanization and the rising demand for affordable and sustainable housing solutions. The region's focus on infrastructure development, aligned with initiatives like Vision 2030 and UAE Vision 2021, is further propelling market expansion. Modular construction is gaining popularity due to its efficiency and reduced construction time, making it a viable solution for meeting tight project deadlines and budget constraints. Additionally, increasin...