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On the basis of region, Asia-Pacific region dominates the modular construction market. It accounted for the largest market share of 46.30% in 2019, with a market value of USD 48.2 million. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. China is one of the leading markets in the Asia-Pacific region. Chinese government issued several favorable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of the commercial housing market.
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