Pre-Engineered Buildings Market Will Reach at a 9.34% CAGR by 2025

Pre-engineered buildings has built up over the years as its applications have grown steadily. Market reports linked with the construction technology industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is expected to progress at an incremental CAGR in the forecast period.

The key demand motivator for the pre-engineered buildings market is warehouse structures that require limited or no columns in the entire structure. The sharp uptick in e-commerce activities have created the need for storage facilities such as warehouses, thus indirectly motivating the demand for pre-engineered buildings. The market is significantly buoyed by the reduced construction costs and diminished need for maintenance. The increased number of contenders in the pre-engineered buildings market is expected to lead to the growth of the product offering in the forecast period.

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The significant companies in the pre-engineered buildings market globally are-

• Tiger Steel Industries LLC
• Kirby Building Systems
• BlueScope Steel Ltd.
• Everest Industries Ltd.
• Interarch Building Products Pvt. Ltd.
• Jindal Buildsys Limited
• Era Infra Engineering Ltd
• Pennar Engineered Building Sytems Ltd
• PEB Steel Buildings Co. Ltd.
• Zamil Steel Holding Co. Ltd.
• Multicolor Steels India Pvt. Ltd.

Regional Analysis: Global Pre-engineered Buildings market

The global pre-engineered buildings market has been segmented region-wise into North America, Europe, Asia-pacific, and the rest of the world (RoW). Asia-Pacific accounted for the largest market share of around 36%, which is also expected to witness fastest growth rate during the forecast period. This can be attributed to the booming construction industry in the residential, commercial, industrial, and infrastructure sector, which is expected to contribute to the demand for pre-engineered buildings market in the region.

Industry Updates:

Jan 2019 Nova Buildings Group has confirmed the procurement of BlueScope Buildings’ key fabrication assets at Bien Hoa City, Vietnam. The fabrication plant situated about 30 kilometers from Ho Chi Minh City and is slated to begin operations in the new year, directed by key operational team members who had previously supervised facilities under BlueScope Buildings. The plant will also serve as Nova Buildings’ main manufacturing hub for the supply of pre-engineered buildings throughout southeast Asia.

Global Pre-Engineered Building Market – Segmental Analysis

This MRFR report offers a detailed segmental assessment of the pre-engineered building market based on material, end-use, and product.

By material, the market has been segmented into steel aluminum, concrete, and others. Among these, the steel segment has been projected to secure the leading position in the marketplace in the forthcoming years. It is also estimated to strike a relatively higher CAGR of 9.34% during the assessment period. The growth of the segment is primarily attributable to its resistance to fire, termites, moisture, adverse weather conditions as well as durability and low maintenance costs.

By end-use, the pre-engineered building market has been segmented into industrial, commercial, and residential. The industrial segment is prognosticated to hold the dominant position and value at USD 83 Bn towards the end of 2023. Industrial developments have generated demand for manufacturing units, warehouses, loading & unloading shelters, etc. This, in turn, has been forecasted to catalyze the growth of the industrial segment in the years to come. Meanwhile, the commercial segment is expected to gain quick mileage in the upcoming years. It has been projected to expand at a comparatively higher CAGR of 8.68% over the review period.

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About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R)