L&T sees $150-billion global modularisation opportunity in 5 years, eyes larger pie

Larsen & Toubro Ltd (L&T) is positioning itself to capture a larger share of the global modular construction market, as rising labour costs and shortages of skilled workers push project developers towards factory-built modules for complex infrastructure and energy projects.

The engineering and construction major estimates that the addressable global market for modularisation could be around $150 billion over the next five years, with L&T targeting opportunities worth nearly $20-30 billion.

“Modular concepts will be popular going forward,” said Subramanian Sarma, Deputy Managing Director and President, L&T, adding that the company is also exploring greater adoption of modular construction in India while developing hybrid models that combine modular and conventional construction to address transportation challenges.