According to a report, “Pre-engineered Building Market Size, Share & Trends Analysis Report By Application (Commercial, Industrial), By Region (Americas, MEA, Europe, APAC), Competitive Landscape, And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global pre-engineered building market size is expected to reach USD 30.79 billion by 2025, progressing at a CAGR of 15.5% during the forecast period. Increasing technological advancements in the construction industry coupled with advantages of pre-engineered buildings (PEBs), such as reduced construction time, are estimated to boost product demand over the forecast period.
The adoption of off-site construction for commercial buildings is witnessing significant growth as structures are manufactured in a factory and thus remain unaffected by weather conditions. These structures are manufactured using advanced machinery that aids in reducing material cost, thereby making it cost-effective.
Industry participants undergo integration across value chain by offering turnkey engineering, procurement, and construction (EPC) solutions post manufacturing of pre-engineered buildings, which is expected to fuel the demand. However, fluctuating prices of steel are likely to be a significant concern for manufacturers over the forecast period.
Pre-engineered Building Market Report Highlights
• On the basis of application, commercial buildings are expected to witness a CAGR of 15.2% in terms of revenue over the forecast period. The lower cost involved while erecting a PEB plays a vital role in bolstering its adoption.
• The global Pre-engineered building market is expanding due to the flourishing service sector, including IT/ITeS, BFSI, and telecom companies, coupled with the expansion of multinational companies that are expected to escalate the demand for construction of commercial buildings.
• North America accounted for 27.3% of the global revenue in 2017 on account of reduced construction time and lightweight structure of pre-engineered buildings coupled with surging demand for industrial buildings.
• The growing tourism in the Asia Pacific region has propelled the demand for pre-engineered buildings owing to the increasing demand for restaurants, resorts, and food chains. These buildings can be built with low cost and time, providing architectural versatility, and low maintenance.
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Pre-engineered Building Market Segmentation
Grand View Research has segmented the global pre-engineered building market on the basis of application and region:
Pre-engineered Building Application Outlook (Revenue, USD Million, 2014 – 2025)
• Commercial building
• Industrial buildings
Pre-engineered Building Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• Rest of Europe
• The U.K.
• Rest of Asia Pacific
• South Korea
• New Zealand
• Central and South America
• Middle East & Africa
• Saudi Arabia
Key Players in the Pre-engineered Building Market
• BlueScope Steel
• Astron Buildings
• Everest Industries
• Interarch Building Products Pvt. Ltd.
• Jindal Buildsys
• Kirby Building Systems
• Lloyd Insulations
• PEB Steel Buildings Co., Ltd.
• Tiger Steel Engineering (I) Pvt. Ltd. (TSEIL)
• Zamil Steel Pre-Engineered Buildings Co. Ltd.
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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