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The rapidly growing industrialization & urbanization in developing countries such as India, China, and Brazil drives the market growth.
PORTLAND, OR, UNITED STATES, October 11, 2021 /EINPresswire.com / -- The pre-engineered buildings market has witnessed significant growth over the past decade, owing to rise in investment in the construction industry especially in the Asia-Pacific region. A number of players are expanding their business around the globe, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for the pre-engineered buildings.
The global pre-engineered buildings market size was valued at $12.5 billion in 2018, and is projected to reach $37.8 billion by 2026, growing at a CAGR of 14.5% from 2019 to 2026.
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The manufacturers of pre-engineered buildings are focusing toward business expansion and new projects as a strategy to increase their pre-engineered buildings market shares. For instance, in April 2019, Metsä Group invested around US$2 billion in pre-engineering building to expand its bioproduct mill in Finland and Rauma. Similarly, in October 2019, Saudi Arabia based Zamil Steel, a PEB company expanded its Ranjangaon plant to increase their production capacity.
Furthermore, the growth of the commercial and industrial sector, owing to increase in urbanization and population around the globe is projected to propel the demand for pre-engineered buildings in the coming years. Currently, by application, in 2018, the commercial segment have garnered significant market share, owing to expansion of infrastructure sector in the developing regions.
Top 10 Leading Players
Interarch Building Products
Kirby Building Systems
PEB Steel Buildings
Tiger Steel Engineering
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Key Market Segments
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