Global Pre-Engineered Buildings Market Forecast to 2024: Growing Awareness about the Green Buildings is Projected to Drive the Growth

DUBLIN, May 23, 2019 /PRNewswire/ -- The "Pre-engineered Buildings Market by Structure, Application, & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The pre-engineered buildings market is projected to grow from USD 14.5 billion in 2019 to USD 25.0 billion by 2024, at a CAGR of 11.5% during the forecast period.

Growing awareness about the green buildings is projected to drive the growth of the pre-engineered buildings market 

The pre-engineered buildings market has been growing due to the increasing demand for green buildings and the need for reduced construction time and cost along with demand for lightweight building structures. Vulnerability to corrosion, lower thermal conductivity, and limited fire resistance of pre-engineered buildings may pose a restraint to the pre-engineered buildings market.

The single-story segment is projected to have a larger market share in the pre-engineered buildings market during the forecast period

The single-story segment is projected to account for the larger market share during the forecast period. The dominance of single-story buildings is attributed to their wide range of applications, the lesser requirement of accessories, green building solution, and cost-time benefits. The multi-story segment accounted for a lesser share in the pre-engineered buildings market, owing to lesser acceptance and awareness of these buildings in the commercial and residential applications in the under-developed and developing countries. Consumers in these countries still prefer concrete as a construction material for multi-story buildings.

The warehouses & industrial segment is projected to be the largest contributor to the pre-engineered buildings market during the forecast period

The warehouses & industrial segment is projected to grow the highest CAGR during the forecast period. The use of pre-engineered buildings for warehousing offers several benefits over conventional concrete warehouses, such as cost benefits, quicker return on investments, faster installation, easy maintenance, better quality, and earthquake resistance among others. Further, the dominance of this segment is also supported by the increasing demand for storage spaces for the agricultural sector and cold storage for the food & beverage and pharmaceutical sectors.

The Asia Pacific is projected to record the highest growth rate during the forecast period

The Asia Pacific accounted for the largest share in 2018 and is also projected to record the highest growth rate during the forecast period. The growth in the APAC region can be attributed to the increasing demand for pre-engineered buildings from the growing non-residential construction (including commercial and industrial) and infrastructural development in the region. The major demand for pre-engineered buildings in the region is contributed by India and China, owing to the growing construction industry, increasing population and economic growth.

The pre-engineered buildings market comprises major manufacturers such BlueScope Steel (Australia), NCI Building Systems (US), Nucor Corporation (US), Kirby Building Systems (Kuwait), Zamil Steel Holding Company (Saudi Arabia), ATCO (Canada), Lindab Group (Sweden), PEBS Pennar (India), PEB Steel Buildings (Vietnam), and Everest Industries (India).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Developing Economies to Register High Growth in the Pre-Engineered Buildings Market
4.2 Pre-Engineered Buildings Market, By Structure
4.3 Pre-Engineered Buildings Market, By Application
4.4 Pre-Engineered Buildings Market, By Region and Structure
4.5 Pre-Engineered Buildings Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rapid Industrialization and Growth in Infrastructural Investment
5.2.1.2 Increasing Demand for Green Buildings
5.2.1.3 Increase in the Use of Steel in Building and Construction Projects
5.2.1.4 Need for Reduced Construction Time and Cost and for Lightweight Building Structure
5.2.2 Restraints
5.2.2.1 Vulnerability to Corrosion, Lower Thermal Conductivity, and Limited Fire Resistance of Pre-Engineered Buildings
5.2.3 Opportunities
5.2.3.1 Increase in Population and Rapid Urbanization Translating Into A Large Number of New Construction Projects
5.2.4 Challenges
5.2.4.1 Fluctuation in Raw Material Prices
5.2.4.2 Lack of Skilled Manpower and Awareness

6 Pre-Engineered Buildings Market, By Structure
6.1 Introduction
6.2 Single-Story
6.2.1 Single-Story Segment to Be the Largest Segment of the Pre-Engineered Buildings Market
6.3 Multi-Story
6.3.1 Multi-Story Pre-Engineered Buildings Have Higher Penetration in the Developed Countries

7 Pre-Engineered Buildings Market, By Application
7.1 Introduction
7.2 Warehouses & Industrial
7.2.1 Warehouses & Industrial Application to Be the Leading Application in the Pre-Engineered Buildings Market
7.3 Infrastructure
7.3.1 The Increase in Public and Private Investments in the Infrastructural Sector is Fueling the Demand for Pre-Engineered Buildings in Infrastructural Application
7.4 Commercial
7.4.1 The Commercial Segment is Projected to Record the Second-Highest Growth Rate During the Forecast Period
7.5 Others
7.5.1 The Others Segment is Projected to Record the Lowest Growth Rate During the Forecast Period

8 Pre-Engineered Buildings Market, By Region

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking
9.3 Competitive Scenario
9.3.1 Contracts/Orders/Project Developments
9.3.2 Expansions and Divestiture
9.3.3 Acquisitions
9.3.4 New Product Developments

10 Company Profiles
10.1 Bluescope
10.2 Zamil Steel Holding Company
10.3 Kirby Building Systems
10.4 Nucor Corporation
10.5 NCI Building Systems
10.6 Lindab Group
10.7 Everest Industries
10.8 PEB Steel
10.9 PEBS Pennar
10.10 ATCO
10.11 Other Players
10.11.1 Atad Steel Structure Corporation
10.11.2 Memaar Building Systems
10.11.3 Norsteel Buildings
10.11.4 John Reid & Sons (Strucsteel)
10.11.5 Rigid Global Buildings
10.11.6 Metal Building Manufacturers Inc.
10.11.7 Mabani Steel
10.11.8 Steelway Building Systems
10.11.9 Tiger Steel Engineering India (Tseil)
10.11.10 Emirates Building Systems
10.11.11 Phenix Construction Technologies
10.11.12 Allied Steel Buildings
10.11.13 SML Group
10.11.14 Octamec Group
10.11.15 Jindal Buildsys

For more information about this report visit https://www.researchandmarkets.com/r/vxcgfo

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