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  title: "Canada Modular Construction Market to Reach CAD 8,649.9 Million by 2033 as Build Canada Homes Resets the Order Book"
  description: "Canada's modular construction market grows from CAD 5,355.0 million in 2025 to CAD 8,649.9 million by 2033 at 6.18 per cent, as Build Canada Homes supplies the sector's first multi-year order book."
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# Canada Modular Construction Market to Reach CAD 8,649.9 Million by 2033 as Build Canada Homes Resets the Order Book

**EDMONTON, 24 October 2026** — Canada's permanent volumetric modular construction market is valued at **CAD 5,355.0 million (USD 3,826.9 million) in 2025** and reaches **CAD 8,649.9 million (USD 6,181.6 million) by 2033**, a compound annual growth rate of **6.18 per cent**, according to a new Pheonix Research market report published today.

The finding that reframes the market is not the growth rate. It is that the long-standing constraint was never factory capacity. At roughly 500 modules per production line-year, Canada's entire 2025 output of 17,850 modules is about 36 lines running at full rate — in a country where a single manufacturer, ATCO Structures & Logistics, already operates five plants, and where the Modular Building Institute counts 72 Canadian members.

## The order book, not the technology, was the gap

About 2 per cent of Canadian homes are built off site, against roughly 45 per cent in Sweden and 15 per cent in Japan. That comparison is usually read as a technology gap. Pheonix Research reads it as a procurement gap — and one that has just closed.

Build Canada Homes has prioritised **up to 4,000 Direct Build units across six federal land sites** — Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg and Edmonton — and has written modern methods of construction into its qualification criteria rather than into policy language. Proponents must demonstrate experience in prefabrication, modular construction and mass timber; selected design-builders must prioritise Canadian-sourced materials; and at least 40 per cent of homes on each site must be delivered below market.

At the CAD 440,000 a door implied by the market's own multifamily modular spend, that pipeline is approximately **CAD 1.76 billion of addressable work — 32.9 per cent of one year's entire Canadian market**, delivered across a handful of years. It is the first multi-year, repeatable, standardised order book the sector has been offered in public.

## Edmonton: the first entry, not the book

The Edmonton site is the Village at Griesbach, on the final quarter section of a community built on the former Canadian Forces Base — 64 hectares, 158 acres, with about 2,500 further homes planned alongside it. Two parcels are being delivered by Direct Build, capped at **355 units**: 55 townhomes and 300 apartments in a 23-metre, six-storey building. The Request for Qualifications closed on 22 December 2025, with Requests for Proposals following in early 2026.

Sized at CAD 440,000 a door, Griesbach is about **CAD 156 million** — 6.9 per cent of Canada's 2025 multifamily modular spend, and **1.66 per cent of Edmonton's 21,337 housing starts in 2025**. A figure of CAD 20 million over 36 months circulating for the 300-unit parcel implies CAD 66,667 a door, which is not a construction cost at any plausible input price; the programme publishes no project value of its own.

## Growth sits in one segment

Multifamily modular carries CAD 2,268.0 million of the 2025 base and **70.4 per cent of all value growth to 2033**, compounding at 9.20 per cent. Every other segment grows between 1.0 and 4.8 per cent:

 | Segment |  | 2025 (CAD m) |  | 2033 (CAD m) |  | CAGR |

 | Multifamily residential |  | 2,268.0 |  | 4,585.9 |  | +9.20% |

 | Other (transport, public safety, religious) |  | 1,399.7 |  | 2,036.6 |  | +4.80% |

 | Commercial |  | 676.2 |  | 779.9 |  | +1.80% |

 | Education |  | 519.8 |  | 618.6 |  | +2.20% |

 | Lodging |  | 246.8 |  | 335.1 |  | +3.90% |

 | Office (including data centres) |  | 141.8 |  | 182.4 |  | +3.20% |

 | Healthcare |  | 102.9 |  | 111.4 |  | +1.00% |

 | **Total** |  | **5,355.0** |  | **8,649.9** |  | **+6.18%** |

Volume and value diverge, which is the report's second finding. Modules grow from **17,850 to 24,366 at 3.97 per cent** while value grows at 6.18 per cent, because realised value per module rises from CAD 300,000 to CAD 355,000. Canada is not mainly going to build more modules; it is going to build modules that contain more building — taller, more heavily serviced, with the bathroom pod, the glazing package and the fire separation already inside when the truck leaves. That is where the [sanitary ware](https://www.pheonixresearch.com/construction-infrastructure/construction-material/market-report/global-sanitary-ware-market/), [glazing](https://www.pheonixresearch.com/construction-infrastructure/construction-material/market-report/global-building-and-construction-glass/), [waterproofing and construction chemicals](https://www.pheonixresearch.com/construction-infrastructure/construction-chemicals/market-report/global-waterproofing-and-construction-chemicals-market/) and [fire protection](https://www.pheonixresearch.com/construction-infrastructure/infrastructure/market-report/global-fire-protection-system-market/) supply chains earn their way into a market whose headline size understates their exposure to it.

## Capacity does not travel

Western Canada holds 45.1 per cent of the market and grows at 6.80 per cent, against 5.65 per cent in the East. Alberta recorded 53,184 housing starts in 2025, up 14 per cent, and Edmonton a record 21,337, up 16 per cent — in a year when Toronto fell 31 per cent and Vancouver 3 per cent. A plant is economic within a haul radius, so the demand that justifies Alberta capacity is Alberta demand, and the Griesbach programme lands on Alberta fabricators rather than on Ontario ones.

## Sensitivity is one line and one buyer

Pheonix Research models multifamily at 9.2 per cent rather than the 7.4 per cent in the published industry forecast, because that forecast was constructed in the first half of 2025, before Build Canada Homes was launched in September 2025 and before its Direct Build requests for qualifications went out in January 2026. Hold multifamily at 7.4 per cent and the market reaches **CAD 8,078.9 million in 2033 at 5.27 per cent** — 6.6 per cent below the base case, with every other segment unchanged. Our 2029 value of CAD 6,805.9 million sits 6.3 per cent above the published CAD 6,400 million, and that premium is the programme.

The full analysis — the 2024 base reconciliation to the Modular Building Institute's CAD 5.1 billion, the residential cross-check that derives CAD 440,000 a door from 4,907 off-site homes, the regional split, the year-by-year path and the competitive, value chain, investment, technology, risk and regulatory chapters — is published in [Canada Modular Construction Market Size, Share and Forecast 2026–2033](https://www.pheonixresearch.com/construction-infrastructure/residential-construction/market-report/canada-modular-construction-market/), alongside the argument in [Canada's Modular Gap Was Never a Factory Problem](https://www.pheonixresearch.com/construction-infrastructure/residential-construction/article/canadas-modular-gap-was-never-a-factory-problem/) and the companion analysis of [British Columbia's small-scale multi-unit housing market](https://www.pheonixresearch.com/construction-infrastructure/residential-construction/market-report/british-columbia-small-scale-multi-unit-housing-market/).

## About Pheonix Research

Pheonix Research is a market intelligence platform that queries a live graph of 500+ nodes to surface leading signals and translate them into role-specific decisions. Its research is built on the premise that companies operate in value chains, not industries, and that the output of intelligence is an action with a timeframe rather than a chart.

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