New York (US), June 08, 2023 (GLOBE NEWSWIRE) -- Pre-engineered Buildings Market Overview
The research documents by MRFR indicate that in the “Pre-engineered buildings Market Research Report Information by Product, Technology, Region, and End-User - Forecast Till 2030”, the Pre-engineered buildings market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 13.90%. The reports even share predictions regarding the market's growing revenue share, which will likely reach a market of USD 30019.92548 million by the end of 2030. As per the study documents, the market was worth around USD 10597.9 million in 2021.
Market Scope: The global Pre-engineered buildings industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the escalating demand for warehousing.
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Competitive Analysis
The catalog of the top leaders across the global Market for Pre-engineered buildings includes players such as:
- Bluescope
- Everest Industries
- Zamil Steel Holding Company
- NCI Building Systems
- Kirby Building Systems
- PEB Steel
- Nucor Corporation
- ATCO
- Lindab Group
- PEBS Pennar
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | USD 30019.92548 million |
| CAGR | 13.90 % (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Product, and Application |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Key Market Drivers | Rising inclination towards off-site construction techniques Increasing demands for commercial buildings |
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Market USP Covered
Market Drivers
The global Pre-engineered buildings industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the escalating demand for warehousing. Furthermore, the rising industrialization worldwide coupled with the growing awareness of advanced off-site construction methods & technology are also projected to impact the growth of the global market positively. In addition, factors such as growing e-commerce & logistics stores, lower material & labor costs, and longer building material life cycles are also likely to catalyze the development of the market over the review timeframe.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
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COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Pre-engineered buildings industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
Segment Analysis
Among all the materials, the steel segment was globally leading for pre-engineered buildings in 2021. Prefabricating steel for construction has various benefits, such as a high level of quality control, less waste, and a 50% increase in building speed. Furthermore, qualities such as resistance to inclement weather, termites, fire, and moisture, which provide low-cost maintenance, safety, and durability, are also likely to boost the segment's performance over the assessment period. Furthermore, the Aluminum segment will showcase the maximum growth rate over the coming years.
Among all the products, the roof & floors segment held the leading position across the global market for pre-engineered buildings in 2021. Concerning value, flooring, and roofs are vital components of pre-engineered structures across the globe. The building's roof caters as its top covering and is exposed to the most solar radiation. On the other hand, the wall segment is projected to showcase the maximum growth rate over the coming years.
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Regional Analysis
The Global Market for Pre-engineered buildings is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The research documents by MRFR indicate that the Asia-pacific Region carried the top position across the global Pre-engineered buildings industry in 2021 with the largest contribution of nearly USD 4217.9642 million. The regional market is anticipated to grow substantially over the assessment era, with a healthy growth rate of nearly 39.80%. India, China, and Indonesia are the leading development contributors in the region. Further, the China Pre-engineered buildings Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The growing real estate industry for pre-engineered buildings is the main aspect supporting regional market expansion. Furthermore, the growing corporate atmosphere across the region is also considered one of the crucial parameters supporting regional market development. Moreover, factors such as an increase in industrial buildings, favorable government policies encouraging investments in the manufacturing sector, and the relocation of production facilities by various businesses are also likely to positively impact the growth of the regional market over the coming years.
The North American is anticipated to hold the second position across the global Pre-engineered buildings industry over the coming years. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Pre-engineered buildings Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the growing real estate and commercial sector repair and refurbishment projects. Furthermore, several multinational companies competing for construction contracts are projected to boost the regional market's growth over the coming years.
The Pre-engineered buildings industry for the Middle East & Africa region is likely to showcase substantial development over the coming years. The tourist sector's strong expansion is the main aspect supporting regional market expansion. Furthermore, long-term plans for sustainable economic growth are projected to boost the regional market's growth over the coming years.
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