Growth Projected for Modular Commercial Construction

FMI, the largest provider of management consulting, investment banking and research to the engineering and construction industry, reported that as of the 4th quarter, the Non-Residential Construction Index has been in positive territory for three quarters in a row. In its query, FMI found the long recession brought about many changes to the industry, and asked about the growth of prefabrication and modular construction. Panelists expect this area to grow faster than the market in general due to a number of drivers, including the growing use of Building Information Management (BIM), owners wanting projects faster and for lower cost, safety, quality and the shortage of skilled labor once markets return to more normal growth. BIM is the process of generating and managing building data typically using three-dimensional, real-time modeling software.

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