Modular Construction News

Recent industry report about Modular Construction company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Modular Construction Market industry experts.

Modular Construction News

  • June 2024: ATCO Ltd structures division revealed its acquisition of NRB Ltd (NRB), a Canadian manufacturer specializing in modular structures for industrial, educational, and residential purposes. The deal, valued at CAD 40 million (~USD 29.24 million), was slated for completion by late July 2024. This strategic move by ATCO Structures underscores its ambition to bolster manufacturing, operational reach, and sales, particularly targeting the growing modular residential segment.
  • August 2023: WillScot acquired Cold Box in California and A&M Cold Storage in Ohio. This acquisition has solidified WillScot's position, propelling it to become one of the leading providers in the temporary cold storage sector. These units serve diverse customers in need of onsite climate-controlled space. Through this acquisition, the company owns approximately 2,200 climate-controlled containers and refrigerated storage trailers, a regional modular space manufacturing and leasing business consisting primarily of approximately 1,300 modular leasing units, and a US national provider of premium large clearspan structures.
download-icon Get full market coverage in this industry
Download PDF
  • December 2023: Heidelberg Materials is set to receive EUR 191 million (~USD 201.62 million) from the EU Innovation Fund, a leading global initiative for financing low-carbon technologies. This funding will aid in establishing a pioneering CCS value chain at their Geseke cement facility in Germany, bolstering the company's already significant investments. With this move, Heidelberg Materials is poised to make history as the first German cement plant to manufacture carbon-captured net-zero cement and clinker.
  • May 2023: Heidelberg Materials is channeling EUR 65 million (~USD 68.61 million) into its Bussac-Forêt cement plant in western France, aiming to speed up its decarbonisation efforts. The expansion will introduce a facility dedicated to producing calcined clay. This innovation enables a partial replacement of the CO₂-intensive clinker in cement. Consequently, the company is set to unveil a new line of low-carbon calcined clay cements, featuring reduced clinker content.
  • October 2024: Anhui Conch Cement (Conch Group) and AVIC International Beijing have formed a strategic partnership to advance decarbonisation in cement production. This collaboration combines Conch Group's cement production expertise with KHD Humboldt Wedag International (KHD)'s engineering skills. They aim to create AI-driven, 'green' R&D platforms globally, modernize traditional cement plants, and improve operation and maintenance services.
  • April 2024: Researchers at Hong Kong Polytechnic University have unveiled sustainable methods for cement production. Their focus is on low-clinker cements and innovative uses for incinerator fly ash (IFA). The study reveals that by mixing carbonated-washed IFA with slag, coal fly ash, or metakaolin, it's possible to substitute 60% of Portland cement. This results in a ternary blended cement, which, according to the research, significantly diminishes the carbon footprint associated with cement production.
  • November 2024: Lafarge Canada, a member of the Holcim Group, has selected ABB to update the process control system at the Bath Cement Plant in Kingston, Ontario. The modernization of the plant signifies a major step in Lafarge’s commitment to decarbonizing its operations.
  • April 2023: In a collaborative effort, the Cement Association of Canada (CAC), its members, and partners from the concrete sector unveiled "Concrete Zero." This Action Plan is designed to steer Canada's cement and concrete industry towards its carbon emissions reduction targets, with a commitment to achieving net-zero emissions by 2050.
  • July 2024: Heidelberg Materials is constructing a pilot plant for industrial-enforced carbonization at its cement facility in Guraždja, Poland. This initiative aligns with the company's commitment to curbing carbon emissions and pioneering sustainable cement production techniques. The facility targets mechanical completion by the close of 2024. The successful operation of the pilot plant could pave the way for commercializing the enforced carbonation technology, positioning Heidelberg Materials to offer low-carbon cement products to its customers.
  • June 2024: Vattenfall and Cemvision have signed a Letter of Intent (LOI) to collaborate on the development and future supply of near-zero-emission cement. This innovative cement could cut carbon dioxide emissions by 95% compared to traditional cement. Through this partnership, Vattenfall is making strides in shrinking its carbon footprint, advancing sustainable construction materials, and playing a pivotal role in fostering a low-carbon future.
  • September 2024: Holcim Spain absorbed its subsidiary Cementos Esfera, which distributes cement from a facility in the port of Tarragona, Spain, likely as a strategic move to streamline its supply chain and operations. Holcim Spain bolsters its market position by consolidating this subsidiary, gaining enhanced control over its distribution network. This increased control allows Holcim Spain to respond more adeptly to shifting market dynamics.
  • April 2024: Cemex has developed an innovative method to cut CO2 emissions during cement production by downsizing clinker particles. Dubbed clinker micronization, this technique diminishes the clinker factor in cement, leading to a reduced carbon footprint. Beyond its environmental benefits, this innovation positions Cemex to lower production costs, enhancing the competitiveness of its cement products in the marketplace.
  • August 2024: FP McCann, a precast concrete firm based in South Derry, United Kingdom, is channeling an investment of EUR 90 million (~USD 100 million) to enhance its manufacturing capabilities. The investment will see several factory extensions and the launch of new product lines. Driven by encouraging sales in the first half of 2024, this initiative is set to generate around 100 jobs. Furthermore, it positions the company to uphold and expand its portfolio of high-quality, sustainable products.
  • October 2023: Fabcon Precast has acquired Bristol Precast, a division of the Bristol Group, which specializes in engineered precast and prestressed concrete products across the United States. This acquisition will bolster Fabcon's presence in the Mid-South market, allowing the company to offer the region an even broader range of precast solutions.
  • March 2023: Holcim Ltd. bolstered its foothold in Poland by acquiring HM Factory, a specialist in precast concrete solutions. This strategic acquisition solidifies Holcim's positioning in the precast concrete market.
  • May 2024: Jindal Stainless has formed a joint venture (JV) in Indonesia to develop and operate a stainless steel melt shop (SMS) with an annual production capacity of 1.2 million tonnes per annum (MTPA). This venture boosts the company's melting capacity by over 40%, elevating it to 4.2 MTPA, with an investment exceeding INR 7,000 million (~USD 84 million). This strategic investment aims to balance its downstream cold-rolled capacities, aligning them more closely with global benchmarks.
  • June 2023: Outokumpu partnered with Nordic Steel to launch sustainable stainless steel solutions in Norway. Outokumpu's Circle Green boasts the title of the world's most sustainable stainless steel, achieving a carbon footprint that's up to 92% lower than the industry average. This collaboration not only underscores Outokumpu's commitment to environmental strategies but also positions Nordic Steel as the pioneer in Norway, offering these innovative solutions to its clientele.
  • December 2022: Boise Cascade expanded distribution centers in two new markets by acquiring 45 acres in Walterboro, SC, and purchasing a 34-acre land parcel in Hondo, Texas.
  • October 2022: Boise Cascade announced the expansion of its distribution center through the acquisition of 4.67 acres of land adjacent to its Albuquerque, New Mexico branch.
  • March 2024: HASSLACHER Holding GmbH acquired a stake in Element5 to invest in the development and expansion of mass timber production capacity and to enter the North American market.
  • June 2023: Mayr-Melnhof Holz Holding AG opened the world's first PEFC-certified cross laminated timber plant at the sawmill site in Leoben with an investment of EUR 175 million (USD 190 million).
  • October 2022: Stora Enso inaugurated its new production site in Czechia, Europe, which produces cross-laminated timber (CLT) with an estimated annual production capacity of 120,000 m³. The company has strengthened its presence in the competitive market through expansion.
  • July 2024: CEMEX SAB de CV entered a joint venture with Couch Aggregates, a sand and gravel supplier, and Premier Holdings, a distributor of marine bulk products. This collaboration aims to bolster Cemex's aggregate reserves by focusing on the production, distribution, and sale of sand, gravel, and limestone in the Mid-South United States. As a result, Cemex is set to enhance its presence and offer improved, expedited services to this burgeoning region.
  • July 2024: Heidelberg Materials acquired Carver Sand & Gravel, the largest aggregates producer in Albany, New York. This acquisition boosted the company’s operations, including crushed stone, sand and gravel, asphalt, and logistics, with a combined material capacity of around 3 million metric tons annually.

Modular Construction Market Size and Share Analysis - Growth Trends & Forecasts (2024 - 2029)