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.
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.
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.
Key Findings of the Study:
- The report provides an extensive analysis of the current and emerging pre-engineered buildings market trends and dynamics.
- Depending on structure, the single-story segment dominated the market, in terms of revenue in 2018 and is projected to grow at a CAGR 14.2% during the forecast period.
- By application, the industrial segment led the pre-engineered buildings market in 2018.
- LAMEA is projected to register the highest growth rate in the coming years.
- The key market players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the pre-engineered buildings industry.
- In-depth pre-engineered buildings market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The global pre-engineered buildings market forecast analysis from 2019 to 2026 is included in the report.