Pre-Engineered Buildings is an advanced and innovative method used in construction. Pre-engineered buildings are factory-built buildings of steel that are shipped to site and bolted together. This style of construction is ideally suited to industrial buildings and warehouses; it is cheap, very fast to erect, and can also be dismantled and moved to another site. The Global Pre-Engineered Buildings Market is growing with the rapid pace; mainly due to the increasing demand for warehouses globally.
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Hence, the Global Pre-Engineered Buildings Market was valued at USD 10,487.6 million in 2018, and it is expected to witness 8.5% CAGR during the forecast period. The base year considered for the study of the market is 2018, and the forecast period for the global pre-engineered buildings market is 2019 to 2025.
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.
The advent of new technology has boosted the growth potential of the market. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. Substantial cutbacks in administrative finances are bringing further development to the market. The market shows potential for demonstrating a greater comparative or differential value. The market competitors find themselves in a favorable position with the ability to manage the pace of change. The development of a strong value chain is moreover motivating the expansion of the market.
Pre-Engineered Buildings Market Overview
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.
The demand for 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.
According to a recent study report published by the Market Research Future, The global market of Pre-Engineered Buildings is booming and expected to gain prominence over the forecast period. The global Pre-Engineered Buildings market is forecasted to demonstrate an exponential growth by 2023.
Currently, the Pre-Engineered Buildings market is spurting mainly due to the supportive government regulations and policies. Governments across all regions are seen promoting and developing their construction & infrastructure sector. The emerging nations are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market.
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.
Pre-Engineered Buildings Market – Segmentation
Global Pre-Engineered Buildings Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
On the basis of Material, market is segmented into Steel, Aluminum and others. Steel dominates the material segment of the market. This material majorly used in the construction of the pre-engineered buildings is steel which in turn is highly reusable without losing its engineering properties.
On the basis of End Use, market is segmented into Commercial, Industrial, and Infrastructure. Commercial sector includes the offices, showrooms and others, industrial sector includes the factories, warehouses and others, and Infrastructure includes the bridges, airport hangers, railway platforms and others.
Segmentation by Regions:Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Study Objectives of Global Pre-engineered Buildings Market
• To provide detailed analysis of the market structure along with forecast for the next 10 years of various segments and sub-segments of the global pre-engineered buildings market
• To provide insights about factors affecting the market growth
• To analyze the Global Pre-engineered buildings market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (RoW)
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment by material, end-use and by region.
• To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global pre-engineered buildings market
Pre-Engineered Buildings Market-Regional Analysis
The Asia-Pacific region is dominates the Pre-Engineered Buildings market and is expected to grow at a fastest CAGR during the forecast period. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region.
North America is also the major region for the market. Raising the demand of eco-friendly and sustainable construction and government support led this region in Pre-Engineered Buildings market.
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