Pre-Engineered Building Market Expected to Generate US$ 24.4 Billion, Expanding at CAGR of 9.8% During 2023-2028
According to the latest study by IMARC Group, titled “Pre-Engineered Building Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global pre-engineered building market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global pre-engineered building market size reached US$ 14.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.4 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.
A pre-engineered building (PEB) is a type of construction method that involves the use of prefabricated components and a systematic approach to building design and construction. It is commonly utilized in industrial and commercial settings but is becoming increasingly popular for residential applications as well. The process of constructing a PEB involves designing the building to meet specific requirements and using computer-aided design software to create a detailed plan. This plan is then used to manufacture the components, which are produced in a factory setting and delivered to the building site for assembly. It includes a steel frame structure that is designed to withstand high wind and seismic loads. The exterior walls and roof are manufactured of insulated metal panels, which offer excellent thermal performance and are easy to install. Additionally, it can be customized to meet a variety of design requirements and can include features, such as mezzanines, skylights, and ventilation systems.
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Global Pre-Engineered Building Market Trends:
The rising awareness of modern off-site construction systems and practices majorly drives the global market. This can be supported by rapid urbanization in both emerging and developed economies across the globe. Along with this, the increasing demand for industrial storage spaces and warehouses, driven in part by the rising penetration of e-commerce and logistics stores in the retail sector, is significantly supporting the market. In response, pre-engineered buildings are becoming more popular due to their durability and cost-effectiveness compared to conventionally constructed buildings, propelling to the demand.
In addition, the widespread adoption of pre-engineered buildings on account of significant performance advantages, including longer life cycles for building materials, greater design flexibility, and reduced material and labor costs, is contributing to the market. Moreover, the emergence of pre-engineered green buildings that have a low carbon footprint is creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- BlueScope Steel
- Era Infra
- Everest Industries
- Interarch Building Products
- Jindal Buildsys
- Kirby Building Systems
- Lloyd Insulations
- PEB Steel Buildings
- Tiger Steel Engineering
- Zamil Steel
- Nucor
Key Market Segmentation:
Breakup by End-User:
- Industrial Sector
- Commercial Sector
- Infrastructure Sector
- Residential Sector
Breakup by Product:
- Concrete Structure
- Steel Structure
- Civil Structure
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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