Wilmington, Delaware, United States, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for pre-engineered buildings was estimated to have garnered a global market valuation of around US$ 16.9 billion in 2022. The market is anticipated to grow with a robust and fast-expanding 12.8% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 49.9 billion.
Pre-engineered steel structures can be modified with polyurethane insulated panels or even fiberglass blankets to increase their energy efficiency. Pre-engineered building methods need less time to construct a structure than traditional methods do. Computer-aided Design (CAD) software is used to create PEBs, which speeds up the design and detailing process and makes construction easier.
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Global Pre-engineered Buildings Market: Key Players
The majority of companies are using new tactics and technologies while also making large investments in research and development.
The leading producers in the pre-engineered buildings industry include Renier Construction, BlueScope Steel, NCI Building Systems, Nucor Corporation, Kirby Building Systems, Zamil Steel Holding Company, ATCO, Lindab Group, Pennar Industries Limited, PEB Steel Buildings, Everest Industries, and Screw Expert.
Some developments by the key players in the global market for pre-engineered buildings are:
The Government of India announced intentions to provide air service between Tier 2 and Tier 3 cities and major cities in January 2023 in order to promote economic growth and facilitate travel. Employing PEBs to construct new airports in addition to enlarging and renovating existing airports is being prioritized around the nation.
A factory fabricates components including columns, beams, and roof panels in accordance with the design before shipping them to the building site. The time needed for building and assembly on-site is decreased by this pre-fabrication technique. These benefits will probably accelerate the market growth for pre-engineered structures in the coming years.
Several firms are using alternative building materials to cut construction costs and promote sustainable building practices. Vendors in the global pre-engineered building market should expect profitable prospects as new technologies are increasingly used in the construction sector. Pre-engineered structures are made by vendors using a variety of materials, such as aluminum and steel.
Key Findings of Market Report
- PEB structural parts are made precisely to size at the factory, delivered to the location, and assembled there, often with bolted connections.
- The project's overall construction time might be considerably cut if PEBs are used.
- The market value for pre-engineered structures is being driven by the increase in demand for effective and time-saving construction components.
- The market for engineered structures is being driven by an increase in industrial projects.
Market Trends For Pre-engineered Buildings
- Pre-engineered structures have a number of benefits in industrial environments. Pre-engineered metal structures' simplified approach to design as well as construction makes them adaptable, flexible, and affordable. Compared to typical structures, they are more expedient and frequently take only a couple of months to finish. Pre-engineered structures are strongly recommended for industrial projects with constrained schedules due to these benefits. Therefore, the market for engineered structures is being driven by an increase in industrial developments.
- Pre-engineered steel buildings are handed over within a few weeks after the blueprints are approved. Anchor bolts and the foundation have been cast parallel to one another and are prepared for site bolting. The project's overall construction time might be significantly cut short by the usage of PEBs. This enables quicker occupancy and earlier income collection for property owners. The market value of pre-engineered structures is being driven by the increase in demand for effective and time-saving building supplies.
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Global Pre-engineered Buildings Regional Market Outlook
- Asia Pacific is anticipated to have the dominant share from 2023 to 2031, followed by North America. The region's largest market for pre-engineered structures is China. The building and construction industry is seeing an increase in investment, which is driving Asia Pacific market dynamics.
- Pre-engineered building market statistics in North America are predicted to increase due to technological developments in PEBs. Pre-engineered structures are mostly sold in Latin America, the Middle East, and Africa.
Global Pre-engineered Buildings Market Segmentation
- Material
- Steel
- Aluminum
- Others
- Structure Type
- Single Story
- Multistory
- Building Type
- Reinforced Cement Concrete Buildings
- Steel Buildings
- Conventional Steel Buildings
- Pre-engineered Steel Buildings
- Timber Buildings
- End-use
- Industrial
- Commercial
- Infrastructure
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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