Pre-engineered Building Market Huge Demand & Future Scope Including Top Players

The global pre-engineered building market size is expected to reach USD 34.18 billion by 2026, growing at a CAGR of 13.9% during the forecast periods according to a new study published by Polaris Market Research. The Report ‘Pre-engineered Building Market Share, Size, Trends, & Industry Analysis Report [By Product (Steel Structure, Concrete Structure, Civil Structure, Others); By End-User (Residential, Commercial, Industrial, Infrastructure, Others) By Region]: Segment Forecast, 2019 – 2026’ provides a thorough and detailed analysis with an overview of present trends and future insights. In 2018, the industrial segment dominated the global pre-engineered building industry, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

 

A significant increase in disposable income, and construction & renovation of residential buildings drive the growth of market. Increasing population, growing urbanization, and industrialization has increased the demand for pre-engineered building solutions across the globe. The rising demand for warehouses owing to increasing penetration of e-commerce, and growing need to reduce building time and costs, supports the pre-engineered building market growth. The growing trend towards green buildings and use of sustainable building material increases the adoption of pre-engineered building solutions. The increasing investments in investment of smart buildings, and increasing demand from industrial, automotive, and agriculture industries further accelerate the market growth. Increasing demand in developing nations, and growth in global construction industry is expected provide numerous growth opportunities in the global pre-engineered building market during the forecast period.

 

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The different components of pre-engineered buildings include primary frame, secondary structural elements, roof and wall panels, panels, and other elements. Primary frame includes an assembly of builtup I-Shaped steel members consisting of trusses or castellated beams, whereas secondary structural elements are cold formed members in different shapes. Roof & wall panels include tin shades & curtain wall made of glass & roll-formed steel sheets.

  

Asia-Pacific generated the highest revenue in the market in 2018, and is expected to lead the global pre-engineered building market throughout the forecast period. The growing construction sector and increasing disposable income drives the market growth. The increasing need for time and cost effective building solutions, along with increasing government investments in development of infrastructure supports the market growth in the region.

 

The well-known companies profiled in the pre-engineered building market report include Kirby Building Systems, Zamil Steel, BlueScope Steel, PEB Steel Buildings, Everest Industries, SML Group, Tiger Steel Engineering, Interarch Building Products, Lloyd Insulations, Era Infra, Multicolor Steels, and Smith Structures. These companies are consistently launching new products to enhance their offerings in the global pre-engineered building industry. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

 

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