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Modular Construction Reports & Industry Analysis

The Modular Building Institute gathers and distributes statistical information about the size and growth of the commercial modular building industry analysis. These reports have become the leading source of information on the industry and are used worldwide by investment firms, banks, the media, researchers, consultants, and students.

Contents include General Industry Descriptions, Floors Shipped, Gross Sales, Sales by Market Segment, Dealer Gross Revenue, Lease Fleet Composition, Sale of Used Units, Industry Manufacturing Data, Industry Estimates, and Visuals of Contemporary Modular Buildings. Written in a concise fact-filled manner, these surveys are full of interesting and helpful information.

2023 Annual Modular Construction Reports

The Modular Building Institute's 2023 Modular Construction Industry Annual Reports are now available! Get the latest and best available information and data showing modular industry trends, growth instigators, and best practices for permanent modular construction and relocatable buildings across North America.

Not a member of the Modular Building Institute? That's okay! Our industry-leading modular industry reports are FREE.

Don't miss out—this data isn't available anywhere else! 

Permanent Modular Construtcion

MBI's 2023 Permanent Modular Construction Industry Report

2023 PERMANENT MODULAR CONSTRUCTION REPORTS

This completely redesigned report looks at current drivers and trends of the commercial modular building industry analysis and provides a regional analysis of the North American market. Financial trends and forecasts, environmental impacts, as well as revenue and market share data, are also included.

permanent modular construction market share 2023

Executive Summary

The permanent modular construction (PMC) industry topped $12 billion in North America in 2022, accounting for 6.03 percent of all new construction starts. This continued market share growth is impressive, considering it has nearly tripled since 2015, when market share was 2.14 percent.

The reasons for continued growth are numerous, including cost and schedule predictability and savings, environmental advantages, and worker safety, all of which are detailed in this modular construction report.

MBI gathers data from this report from two primary sources:

  1. Direct financial and production data from modular manufacturers
  2. Project data and modular construction reports from case studies submitted to the Modular Building Institute (MBI)

MBI estimates that there are 255 modular manufacturing companies in North America generating some portion of revenue from the commercial modular industry. This figure does not include modular factories that generate no revenue from the commercial sector (i.e., revenue derived exclusively from the single-family modular home and/or manufactured housing sectors).

In 2022, 24 modular manufacturers reported total production of 8,123,554 square feet, for an average of 338,481 square feet each. MBI estimates the projects utilizing modular construction accounted for approximately 6.14 percent of the total square footage for new construction in 2022.

MBI also analyzed 62 modular projects completed in 2022. The average size for projects completed was 24,057 square feet, consisting of an average of 37 modules each. The average time to complete each project from approval to occupancy was just 309 days, while the average total cost of these projects was $6,708,142, for an average cost per square foot of $278.84.

For the third year in a row, analysis shows the multifamily sector was the largest market for the modular building industry, accounting for about one-third of all factory output. Other key markets include office and administrative, institutional and assembly, and education.

Using these averages provided by the MBI survey and manufacturers’ input of data, it is possible to estimate certain information about the industry as a whole. While the calculated information is reliable only to the extent the data provided by industry participants is accurate, MBI’s data comes directly from its modular manufacturer members and represents the most comprehensive and accurate industry information available in North America.

Relocatable Buildings

2023 Relocatable Buildings Report from the Modular Building Institute

2023 RELOCATABLE BUILDINGS REPORT

This newly-updated report collects the most recent data from the fleet owners around the industry and new project and revenue data. This report also includes valuable information for code compliance and provides an overview of the markets served by the relocatable buildings industry.

Overview

While consolidations and acquisitions continue and the number of companies owning and leasing relocatable buildings declines, the total number of relocatable buildings in use remains fairly constant at around 500,000.

Public school districts across North America collectively own and operate about 200,000 relocatable classrooms, while the industry owns and leases about 300,000 buildings amounting to more than $5 billion in assets. Additionally, many construction companies own fleets of construction offices (not included in this data) that move from site to site. These figures also do not include noncoded units such as personal storage units, although these units typically make up about 15 percent
of a provider’s fleet.

MBI obtained data from fleet owners controlling 291,554 rental units, or nearly all of the industry-owned assets. Across all companies, the average (mean) fleet size for North American relocatable building fleet owners in 2022 was 11,214 units. However, only four companies in this data set have a lease fleet larger than the mean. The median number of units from this data set was 1,300, demonstrating the gap between the larger and smaller companies. Companies reported 72.7 percent of inventory on lease as of Dec. 31, 2022.

Past Industry Reports

Looking for additional data? MBI's 2022, 2021, and 2020 are available below. For older modular construction reports, contact us.

Permanent Modular Construction Reports

Permanent Modular Construction (PMC) is an innovative, sustainable construction delivery method utilizing offsite, lean manufacturing techniques to prefabricate single or multi-story whole building solutions in deliverable module sections. PMC modules can be integrated into site built projects or stand alone as a turn-key solution and can be delivered with MEP, fixtures and interior finishes in less time -- with less waste, and higher quality control compared to projects utilizing only site-built construction. Recent research on modular building construction analysis has come out supporting the fact that modular construction is an efficient construction process and poised to help the construction industry grow.

Relocatable Buildings Reports

A Relocatable Building (RB) is a partially or completely assembled building that complies with applicable codes or state regulations and is constructed in a building manufacturing facility using a modular construction process. Relocatable buildings are designed to be reused or repurposed multiple times and transported to different building sites. They are utilized for schools, construction site offices, medical clinics, sales centers, and in any application where a relocatable building can meet a temporary space need. These buildings offer fast delivery, ease of relocation, low-cost reconfiguration, accelerated depreciation schedules and enormous flexibility. Relocatable buildings are not permanently affixed to real estate but are installed in accordance with manufacturer’s installation guidelines and local code requirements. These buildings are essential in cases where speed, temporary space, and the ability to relocate are necessary.

Canadian Commercial Modular Construction Reports

In 2019, MBI represented 60 companies based in Canada, including 26 manufacturers of modular structures. MBI estimated that there are about a total of 45 modular manufacturers in Canada fabricating for a variety of markets including residential, multi-family, commercial, educational, and industrial sectors. There were also an estimated 15 or so smaller fabrication warehouses doing renovations and modifications for various markets. This report details in the entire modular industry analysis—permanent modular construction and relocatable buildings—in Canada.