For 2018, MBI collected data from 53 manufacturers engaged in PMC in North America. The overall average revenue of these manufacturers was $19,615349, up from $15,897,021 in 2017.
When scaled by 1/0.55, the total value of modular building construction projects for 2018 can be estimated at $8,987,396,269 up from approximately $7.2 billion
Rendering these statistical adjustments results in an estimate that PMC technologies drove about $8.9 billion in construction activity in 2018. Because the value of construction starts can be incredibly volatile from year-to-year, MBI uses a three year moving average of industry activity to estimate PMC market share.
Based on a combination of industry survey data and data characterizing construction starts, projects using PMC technologies accounted for 3.67 percent of the value of commercial construction starts in the key North American segments that serve as the focus of this report.
Separating the market share by country we have determined that for Canada, the average revenue by manufacturer was approximately $11,012,676. Using the same market share calculations, this equates to approximately 3.6 percent of all new construction starts.
Removing Canadian companies from the calculation increases the average U.S. manufacturer revenue to $21,144,713 and the overall market share to 4.05 percent of new construction starts in the U.S.
In preparing this report, there are numerous variables, adjustments, and calculations that are necessary to arrive at the final numbers.
Not all of the 252 firms engaged in commercial permanent modular construction in North America are exclusively serving the commercial sector. Several also manufacture single-family residential modules or relocatable (temporary) products.
Another challenge is that some manufacturers are engaged in three-dimensional volumetric modular construction while others are primarily two-dimensional panelized factories, making comparisons and calculations difficult.
MBI is also aware of multiple PMC projects that were fabricated by companies outside North America and incorporated into projects here. While the value of these projects is most likely captured in the overall new construction starts (baseline measurement), MBI did not attempt to include this production and revenue data for purposes of this report. MBI included only revenue and production data from North American manufacturers.
Using the averages provided by the MBI survey and manufacturers input of data, it is possible to estimate certain information about the industry as a whole. The calculated information is reliable only to the extent the data provided by the industry participants is accurate.