2nd Annual Modern Methods of Construction Summit | 19th - 20th April 2023 | Sydney Masonic Centre, Australia

OVERVIEW

Australia’s construction has seen a setback, with at least 16 firms going bust. The pressing complication that needs to be addressed is skyrocketing demand with very limited resources and time. The modern methods of construction (MMC) which includes Modular, Prefab and Precast brings together a number of different themes and practices with the aim of creating a high productivity, high value solution that efficiently tackles supply demand issue. The labour shortage will be dreadful by 2023 as there will be more than 100,000 unfilled roles in the sector. With Modular Construction, on-site labour can be reduced by 40% to 50%, as the building time in total for a modular home is an estimated three to four months, half the time it takes to build a traditional house.

The national construction cost has increased by 7.3% over the 2021 calendar year. Comparatively the cost of building a base modular project is 30% lesser than traditional building cost. This is attracting a hefty amount of investment into the industry as recent research by Fortune Business Insights states the global modular construction market is expected to see extensive growth from USD 75.89 billion in 2021 to USD 114.78 billion in 2028. The number of companies venturing modular construction is booming with rapidly advancing companies in the industry looking to manufacture one-house-an-hour from the prefab manufacturing and assembly facility. Modular manufacturers are capable of completing modular primary school in half the time than traditional schools, while modular hospital wards are becoming a common solution for Supply-Demand gap in the medical field.

Visit our website: www.annualmodularsenate.com