Construction Industry Overview

The container houses market consists of sales of houses developed using shipping containers. Container house manufacturers utilize shipping containers to construct sustainable and affordable high-quality houses. These houses are considered environment friendly homes as these homes are made from used containers, which reduces the use of metal. The global container houses market is expected to decline from $50.8 billion in 2019 to $49.8 billion in 2020 at a compound annual growth rate (CAGR) of -2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $59.4 billion in 2023. North America is the largest market for container houses with a 39% share in the market. The space constraint issues and resulting rise in housing prices in most of the major cities across the world is driving the growth in the container houses market. Container houses make use of the old shipping containers to build their houses and require very less space compared to conventional houses, thus saving space. According to Discover containers, every time a 40 foot container is recycled and reused to construct a house close to 3500 kilograms of steel can be used again, which would otherwise be melted down. Moreover people in urban areas are opting for container houses in order to afford a cheaper living, as container houses costs less compared to tradition houses. In 2018, the affordable housing program in Alberta receiver a funding of $10 million from the US federal government. The program is aimed at using repurposed shipping containers to build houses. The container houses market is expected to benefit from increasing space constraints and housing prices during the forecast period. High possibility of corrosion is restraining the growth of the market for container houses. The life span of the container house is highly dependent on the climate in which the shipping container is located. Container houses corrode faster in coastal areas due to a large amount of salt in the air. For instance, according to the Confoot report of 2018, the average lifespan of a heavily used container house is close to 10-15 years if high maintenance is applied. For container houses that are not used as often can last up to 25 years, after which, it can no longer be used. This dependence of container houses on climatic factors and high vulnerability to corrosion is restraining the growth of the market. Companies in the container houses market are increasingly adopting artificial intelligence (AI) into manufacturing of container houses, in order to develop better designs for the houses. AI can be used in detecting and resolving any constructional issues before starting the manufacturing process. AI is an essential sketch platform that helps in generating many innovative layouts or designs. This helps companies to reduce the manufacturing cost and time and improve constructional safety. With the use of artificial intelligence, customers can also accurately correlate the size of the area to the number of goods or appliances that will fit in that respective area. The Container houses market is regulated by various regulatory bodies and gaining permission for the construction of container houses is a complex process. A container house cannot be constructed anywhere, as there are certain zoning regulations and building codes restricting such construction. According to zoning regulations, all the similar construction houses are built together at one place. Whereas the building codes state the standards to be followed for the construction of a container home. Building codes include information on the type of formation to be used, the square foot requirements of each room, minimum insulation required and other specifications. CRS Temporary Housing merged with Klein & Company on November 30, 2018. Founded in 1995 and based in Colorado, USA, Klein & Co. provides total hotel accommodations and fully furnished temporary housing for families who have been displaced from their homes. This merger will further solidify the position CRS has as one of the market leaders in the industry.

The nonresidential green buildings market consists of sales of nonresidential green buildings. Green Buildings, in its design, construction or operation, have minimal or no negative impacts on environment and climate but have positive impacts by preserving precious natural resources and improve our quality of life. This practice creates and uses healthier and more resource-efficient models of construction, renovation, operation, maintenance and demolition. The market consists of revenue generated by the companies and people by the sale of Nonresidential Green Buildings.

The single-family modular and prefabricated housing construction market consists of sales of single-family modular and prefabricated houses and related services that are used in residential, commercial and industrial sectors. Modular construction is a method in which, through managed plant circumstances, a building is developed off-site using the same resources and constructing the same codes and specifications as conventionally designed structures but in about half the time. All modular buildings are prefabricated, but all prefabricated buildings might or might not be modular.

The 3D printing building construction market consists of the sales revenue earned by entities (organizations, sole traders, and partnerships) that construct buildings through 3D printers and offer related services. 3D printing or additive manufacturing is a computer-controlled sequential layering of materials to create three-dimensional shapes. In the construction industry, 3D printing is used to build components of building or to create a whole building. It helps to construct faster and more accurate structures with reduced labour costs and less wastage.

The smart apartments market consists of sales of smart apartments and related services. Smart apartments have connectivity to smart amenities such as smart lights, smart locks, integrated services like home cleaning within an apartment. The smart apartment comprises smart devices such as smart locks, smart thermostats, smart lights, smart TVs, blinds, cameras and kitchen appliances. A smart apartment also involves the use of technology that can be reprogrammed frequently based on the resident`s lease agreements.

The smart buildings (nonresidential buildings) market consists of sales of smart buildings (nonresidential buildings) and related services. Smart buildings have automated processes and increase operational efficiency of a non-residential, commercial as well as industrial buildings. The smart building (nonresidential buildings) involves the use of sensors, actuators, microchips to automatically control the processes of the building such as heating, ventilation, air conditioning, lighting, security and other systems.

Construction Market Definition

The construction market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that construct buildings or engineering projects (for example, highways and utility systems). Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The construction market includes new work, additions, alterations, maintenance, and repairs The market covered in this report includes the sales of construction services, new construction, remodeling, or renovating existing residential structures, maintenance and repairs, construction of temporary buildings, on-site assembly of precut, panelized, and prefabricated buildings, construction of distribution lines and related buildings and structures for utilities, installation of specialized building equipment such as elevators, escalators, and service station equipment

The modular and prefabricated non-residential building construction market consists of sales of modular and prefabricated buildings and related services for non-residential use.