Pre-engineered buildings (PEBs) are prefabricated metal buildings that consist of rigid metal framing, metal roofing and wall panels, and other components that are designed and partially assembled in a factory before being transported to a site for erection and completion. They provide significant advantages compared to conventional construction methods including faster construction, lower costs, easy customization, flexibility in design, durability, and environmental friendliness. The global PEBs market has been gaining traction owing to rising focus on sustainability and providing cost-effective construction solutions across industrial, commercial and infrastructure projects.
The Global Pre-engineered Buildings Market is estimated to be valued at US$ 21.47 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Pre-engineered Buildings market are Zamil Steel Holding Co. Ltd.,Nucor Corporation,BlueScope Steel Ltd.,Kirby Building Systems,PEB Steel Buildings Co. Ltd. The growing demand for faster construction of industrial and commercial buildings across industries is driving the market. Companies are expanding their global footprint to leverage growth opportunities in emerging markets through partnerships and acquisitions.
Key players operating in the pre-engineered buildings are Zamil Steel Holding Co. Ltd., Nucor Corporation, BlueScope Steel Ltd., Kirby Building Systems, PEB Steel Buildings Co. Ltd. Growing demand from industries such as manufacturing, warehousing, retail is fueling the adoption of PEBs. Their customizable design, low maintenance and erection time makes them ideal for industrial and commercial structures.
Global expansion is another important trend in the market. Companies are entering into new geographic areas to tap the increased expenditure on infrastructure and industrialization. Strategic partnerships with local players help brands setup supply chains and distribution networks internationally. The market in Asia Pacific and Middle East is growing at a robust pace supported by initiatives for smart cities and industrial parks.
Market Key Trends
Sustainability is a major trend in the PEBs market. Manufacturers are developing bio-based and recycled material options with lower carbon footprint. Lightweight steel innovations enable construction of energy-efficient buildings. The market is shifting towards sustainable products that qualify for green building certifications. This allows companies to strengthen portfolios and target the expanding base of environment-conscious customers.
Porter’s Analysis
Threat of new entrants: Pre-engineered buildings require large capital investments and established distribution networks to gain customer traction. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of many manufacturers offering pre-engineered building solutions. Bargaining power of suppliers: Suppliers of raw materials like steel have moderate to high bargaining power due to consolidated global steel industry. Threat of new substitutes: Concrete construction faces less threat from new substitute materials and remains a leading construction method for industrial and commercial buildings. Competitive rivalry: Major players compete on parameters like pricing, product quality, timely project execution and after-sales service.
Geographical Regions
North America currently accounts for the largest share in the pre-engineered buildings market in terms of value. The presence of major players and high demand from industries such as manufacturing, warehousing and logistics have boosted market growth.
India is expected to witness the fastest growth during the forecast period. Government schemes and investments aimed at accelerating infrastructure development are driving extensive construction of industrial facilities, warehouses and commercial spaces in the country. Rising labor costs are also increasing the adoption of pre-engineered buildings that require less on-site labor and shorter construction timelines.
What Are The Key Data Covered In This Pre-Engineered Buildings Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Pre-Engineered Buildings 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Pre-Engineered Buildings and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Pre-Engineered Buildings Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Pre-Engineered Buildings vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it