LONDON--(BUSINESS WIRE)--The global pre-engineered buildings market size is poised to grow by USD 5.79 billion during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Innovation and cost-effective operations have become pre-requisites across industries of all sectors. Similarly, the construction industry is focusing on these aspects, along with fast-paced construction, to cater to deadline-driven and detail-oriented projects of customers. PEBs can fulfill these requirements of modern infrastructure and offer various other advantages over traditional buildings. PEBs are sustainable as they are mostly made of recycled steel. They are extremely flexible and can be dismantled and easily relocated. Also, the construction cost of PEBs is around 25%-30% less than that of traditional buildings. These benefits of PEBs will contribute to the pre-engineered buildings market growth over the forecast period.
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- The major pre-engineered buildings market growth came from industrial sector. In the industrial sector, PEBs are used for constructing large structures, such as power plant structures, warehouses, workshops, factories, cold storages, assembly plants, and steel mills. The demand for PEBs is growing in the industrial sector, owing to their ease of installation and customization capabilities.
- APAC was the largest pre-engineered buildings market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising demand for industrial buildings, warehouses, and other infrastructure will significantly drive pre-engineered buildings market growth in this region over the forecast period.
- The global pre-engineered buildings market is fragmented. ATCO Ltd., Cornerstone Building Brands Inc., Everest Industries Ltd., Interarch Building Products Pvt. Ltd., Lindab AB, Nucor Corp., PEB Steel Buildings Co. Ltd., Pennar Industries Ltd., Tata BlueScope Steel Pvt. Ltd., and Zamil Industrial Investment Co. are some of the major market participants. To help clients improve their market position, this pre-engineered buildings market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global pre-engineered buildings market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/pre-engineered-buildings-market-size-industry-analysis
Growing Consumption of Secondary Steel to Manufacture PEBs will be a Key Market Trend
The growing consumption of secondary steel to manufacture PEBs is one of the significant pre-engineered buildings market trends. The increase in prices of iron ore, energy resources, and electricity has prompted vendors to use scrap steel to construct PEBs. The cost-effectivity and sustainability factors of PEBs that are manufactured from secondary steel are expected to increase the consumption of recycled and reused steel in the market. The rising stringent government regulations to curb carbon emissions from all industries will increase the production of PEBs from secondary steel.
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Pre-engineered Buildings Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist pre-engineered buildings market growth during the next five years
- Estimation of the pre-engineered buildings market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the pre-engineered buildings market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of pre-engineered buildings market vendors
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- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Industrial - Market size and forecast 2019-2024
- Commercial - Market size and forecast 2019-2024
- Infrastructure - Market size and forecast 2019-2024
- Residential - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ATCO Ltd.
- Cornerstone Building Brands Inc.
- Everest Industries Ltd.
- Interarch Building Products Pvt. Ltd.
- Lindab AB
- Nucor Corp.
- PEB Steel Buildings Co. Ltd.
- Pennar Industries Ltd.
- Tata BlueScope Steel Pvt. Ltd.
- Zamil Industrial Investment Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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