- The key demand motivator for the pre-engineered buildings market is warehouse structures that require limited or no columns in the entire structure.
- The global pre-engineered buildings market is highly competitive and fragmented with many players, across the globe.
- The Asia Pacific region is found to be a key region directing the expansion of the pre-engineered buildings market.
Hence, the Global Pre-Engineered Buildings Market was valued at $10.5 billion 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 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.
Key Players of the market include Bluescope, Zamil Steel Holding Company, Kirby Building Systems, Nucor Corporation, Everest Industries, NCI Building Systems, PEB Steel, PEBS Pennar, Lindab Group, and ATCO.
The global pre-engineered buildings market is highly competitive and fragmented with many players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players are expansions & investments, acquisitions, new product development, and agreements.
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.
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The segmentation of the pre-engineered buildings market globally is done on the basis of end-use, material, and region to gain a clearer perspective of the market. Based on material, the pre-engineered building market is segmented into aluminum, steel, and others. Based on the end-use, the pre-engineered building market is segmented into commercial such as showrooms and offices, industrial such as warehouses and factories, and Infrastructural such as airport hangers bridges and railway platforms. The regions included in the pre-engineered building market are APAC, North America, Europe, and Rest of the World.
Detailed Regional Analysis
The region-based analysis of the pre-engineered building market includes regions such as APAC, North America, Europe, and Rest of the World. The Asia Pacific region is found to be a key region directing the expansion of the pre-engineered buildings market with its fast-growing market globally. The region is expected to show formidable growth fuelled by a good CAGR over the forecast period. The development in the Asia Pacific region is likely to display speedy economic and infrastructural growth in the coming years. The escalated level of investments in the nations of China and India have motivated the construction sector in the region. Moreover, the inflow of foreign investment in India is additionally projected to augment the market for pre-engineered building in the upcoming period.