LONDON--(BUSINESS WIRE)--The global pre-engineered buildings market is expected to post a CAGR of over 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Pre-engineered buildings are meeting the demand for cost-effective, innovative, and fast-paced construction of modern infrastructure. PEBs are made of high-quality steel that can be recycled and reused. In addition, these eco-friendly structures are easy to install and cost-effective as they cost around 25% to 30% less than conventional buildings. Furthermore, other attributes such as ease of transportation and installation, and recyclable properties of PEBs are likely to boost their adoption during the forecast period.
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As per Technavio, growing consumption of secondary steel, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Pre-engineered Buildings Market: Growing Consumption of Secondary Steel
Secondary steel is recycled from steel scrap and deconstructed steel structures. It is extensively used to construct different steel products including different components and parts of PEBs. Recycling steel helps in reducing carbon emissions. In addition, the production of secondary steel lowers air pollution as it requires a lesser amount of energy and water compared to the conventional production of galvanized steel from iron ore. Furthermore, the growing trend of developing cost-effective solutions and rising awareness about the environment are expected to fuel the consumption of secondary steel in the manufacture of PEB components.
“The growing demand for public infrastructure in emerging economies such as India and China are expected to contribute to the pre-engineered buildings market growth during the forecast period,” says a senior analyst at Technavio.
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Global Pre-engineered buildings Market: Segmentation Analysis
This market research report segments the global pre-engineered buildings market by end-user (industrial, commercial, infrastructure, and residential), and geographical regions (APAC, North America, Europe, MEA, and South America).
APAC led the market in 2018, followed by North America, Europe, MEA, and South America respectively. Rapid industrialization and growth in construction activities in the emerging economies of APAC is one of the key factors driving the pre-engineering buildings market. Several significant market players are developing large-scale PEB projects to cater to single-and multi-story PEB spaces including factories, warehouses, storage facilities, and industrial plants. Thus, the growth of construction and industrial sectors is further expected to boost PEBs market in APAC during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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