According to a new report published by Allied Market Research, titled, “Pre-Engineered Buildings Market by Structure and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global pre-engineered buildings market size was valued at $12.5 billion in 2018, and is projected to reach $37.8 billion by 2026, growing at a CAGR of 14.5% from 2019 to 2026. In 2018, by structure, the single-story segment accrued the largest share in the global market. In addition, the expansion of commercial infrastructure sector throughout the globe especially in emerging nations such as Brazil, China, and India fuels the demand for pre-engineered buildings.
The manufacturers of pre-engineered buildings are focusing toward business expansion and new projects as a strategy to increase their pre-engineered buildings market shares. For instance, in April 2019, Metsä Group invested around US$2 billion in pre-engineering building to expand its bioproduct mill in Finland and Rauma. Similarly, in October 2019, Saudi Arabia based Zamil Steel, a PEB company expanded its Ranjangaon plant to increase their production capacity.
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The pre-engineered buildings market has witnessed significant growth over the past decade, owing to rise in investment in the construction industry especially in the Asia-Pacific region. A number of players are expanding their business around the globe, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for the pre-engineered buildings. Furthermore, by application, the industrial segment is expected to grow in the near future due to rapid increase in industrial infrastructure sector
Furthermore, the growth of the commercial and industrial sector, owing to increase in urbanization and population around the globe is projected to propel the demand for pre-engineered buildings in the coming years. Currently, by application, in 2018, the commercial segment have garnered significant market share, owing to expansion of infrastructure sector in the developing regions. For instance, in January 2019, India-based Pennar Engineered Building Systems Limited constructed 18-storey commercial building and 6-storey school building in India. In addition, the industrial segment is expected to exhibit significant growth during the forecast period. In terms of region, Asia-Pacific and Europe collectively contributed around 69.1% of share in the global pre-engineered buildings market in 2018.
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The key players profiled in the pre-engineered buildings market report include BlueScope Steel, Era Infra, Everest Industries, Interarch Building Products, Jindal Buildsys, Kirby Building Systems, Lloyd Insulations, PEB Steel Buildings, Tiger Steel Engineering, and Zamil Steel.
The rapidly growing industrialization & urbanization in developing countries such as India, China, and Brazil drives the growth of the pre-engineered buildings market. Furthermore, the demand for the construction of commercial complexes & buildings and workshops is high, owing to increase in investment industries. Moreover, growth in population and rapid urbanization creates the need for pre-engineered buildings. For instance, in April 2019, Metsä Group invested around US$2 billion in pre-engineering buildings to expand its bioproduct mill in Finland and Rauma.
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Key Findings of The Study:
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