Inside MBI’s 2021 Annual Reports
The Modular Building Institute’s annual reports contain a comprehensive overview and analysis of the commercial modular construction industry. This data, collected directly from MBI members, offers a full picture of the industry and its progress.
“MBI gets data for this report from a variety of sources,” explained MBI’s executive director Tom Hardiman, “most significantly from our members directly. Each year we ask our members to provide a breakdown of data on their revenue, production, and markets served. We also obtain specific project data from our Awards of Distinction contest entries. Lastly, we supplement the reports with publicly available data such as SEC filings. It’s a massive undertaking, but over the years our members have come to trust us with their data and more willing to share it. We had nearly 80 companies provide data for these reports.”
For 2021, MBI will release three reports covering the two sectors of the commercial modular industry: permanent modular construction (PMC) and relocatable buildings (RB).
• As defined by MBI, PMC buildings are subject to the same building codes and requirements as site-built structures, depreciate in much the same manner, and are classified as real property. MBI’s 2021 PMC Report covers a variety of key PMC markets including multi-family housing, hotels, and healthcare.
• Relocatable (or portable) buildings, as defined in the International Building Code, are a partially or completely assembled building constructed and designed to be reused multiple times and transported to different building sites. MBI’s 2021 RB Report covers key RB markets including education, administrative, and healthcare.
“We have heard from our members that their lenders and investors find these reports extremely valuable and some companies cite our report in their public financial filings,” said Hardiman. “Certainly anyone interested in investing in the modular industry should get a copy.”
“These reports also provide a very good overview of the industry, markets served, and the process so they make a great resource for AECO companies wanting to explore modular construction for future projects. Of course, these reports are filled with industry averages that modular companies use as benchmarks to compare their progress against their competitors.”
Data from MBI's 2021 Relocatable Buildings Annual Report.
When asked what stuck out to him during the creation of these reports, Hardiman replied, “What surprised me most was how busy and how healthy our industry remained during the pandemic. I fully expected a sizable drop of in revenue and production, but the opposite happened.”
“The modular industry is still trending upward,” continued Hardiman. “Despite the fact that all construction activity was down last year due to COVID, our industry market share gained ground and grew to over four percent, doubling in size over the past five years.”
Complete Reports Available Soon
The complete reports include:
• In-depth analysis of key markets in North America
• Full analysis of US markets by region
• Analysis of the Canadian modular construction market
• Overviews of the European and South American markets
• Information on industry standards
• Best practices from industry leaders
• Information on the role of design professionals and design considerations
• Analysis of improved ROI, cost savings, environmental impact/reduced waste, and worker safety due to modular construction
• Financial data including revenue, market share, trends, and forecasts
• Guidance on code compliance for the RB sector
These reports are exclusive benefits for members of the Modular Building Institute and offer the necessary industry data and analysis to make key business decisions and stay ahead in the industry.
“These reports contain information obtained directly from the industry players with all the proceeds of sales of the reports reinvested back into our industry. They’re the best and only reports you should get on the modular construction industry.”
To join the Modular Building Institute and receive this—and many other—free member benefits, apply online at modular.org.