The modular construction industry is experiencing significant advancements in technology, strategic deals, and hiring patterns. Recent patents reveal innovative solutions that enhance safety and efficiency, while strategic investments highlight the industry’s commitment to growth. The hiring landscape shows substantial increases, reflecting the rising demand for modular construction expertise. GlobalData’s modular construction market report provides comprehensive analysis of the modular construction market. Buy the report here.

This article presents a quarterly round-up of the latest trends in the construction industry regarding modular construction. It provides an overview of recent developments in modular construction-related deals, talent acquisition, and patent filings within the construction industry.

Diverse applications of modular construction in construction industry

Construction companies are leveraging new Modular Construction technologies to innovate and improve their businesses. Recent patents reveal advancements such as waterproof and safety framing systems, sleeve grouting devices, and screw anchor foundations for prefabricated buildings. Pillar Patent Holdings LLC has patented a waterproof framing system to enhance safety and prevent water damage. CCCC Construction Group Co., Ltd. has developed a sleeve grouting device for connecting prefabricated components efficiently. Ojjo Inc's screw anchor foundations offer a modular alternative to traditional concrete foundations. These technologies streamline construction processes, improve structural integrity, and reduce construction time and costs. Acquiring these patents will enable companies to enhance their Modular Construction capabilities, leading to more efficient and sustainable building practices.

The industry experienced a 16% decline in the number of modular construction-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of modular construction-related patent applications in the construction industry witnessed a drop of 10% compared with Q1 2023.

Strategic deal trends in modular construction in construction industry

Construction companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in modular construction. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of modular construction in the construction industry.

In Q1 2024, the number of modular construction-related deals in the construction industry grew by 80% compared with Q1 2023. On a quarterly basis, the number of deals in Q1 2024 compared to the previous quarter, remained flat.

Impact on hiring

In terms of new job posting, in Q1 2024, the construction industry experienced a 42% growth compared with the previous quarter. On an annual basis, job postings also grew by 35%. Notably, Business and Financial Operations Occupations, with a share of 20%, emerged as the top modular construction-related job roles within the construction industry in Q1 2024, with new job postings rising by 103% quarter-on-quarter. Installation, Maintenance, and Repair Occupations came in second with a share of 16% in Q1 2024, with new job postings rising by 1100% over the previous quarter. The other prominent modular construction roles include Management Occupations with a 15% share in Q1 2024, and Construction and Extraction Occupations with a 11% share of new job postings.

Black Diamond Group, Alstar Oilfield Contractors, Hickory Group, Trachte, and Balfour Beatty are among the top companies leading in modular construction hiring within the construction industry.

Countries driving adoption of modular construction in construction industry

The US is the leading country in modular construction adoption within the construction industry, boasting the highest number of modular construction-related patents, jobs, and deals. Meanwhile, Japan, Germany, the Ukraine and China also maintain significant positions in modular construction adoption within the construction industry.

Modular construction continues to drive innovation and strategic investments in the construction industry, enhancing efficiency and sustainability. With leading countries like the US at the forefront, the sector is poised for substantial growth and transformation.

To further understand GlobalData's analysis on modular construction in the construction industry, buy the report here.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.