(MENAFN- Straits Research) Building enclosure systems are pre-engineered structures. It consists of specific walls, roofs, and building construction elements. It is produced by pre-engineered building manufacturers using the best raw material stock adapted to the client's requirements. The structural systems of this structure are composed of rigid frames, plate steel, roof beams, and columns. A pre-engineered building (PEB) in structural engineering is made by a PEB maker or supplier using a single design that can be built using different materials and manufacturing techniques to meet structural and aesthetic design requirements.
In contrast, a building is built according to a design created specifically for that building. As pre-engineering is less common in custom computer-aided designs, pre-engineered structures are often referred to as pre-engineered metal buildings (PEMB) in some regions and industrial sectors or as engineered metal buildings (EMB) in others.
Reduced Construction Cost and Time Drives the Global Market
Pre-engineered building materials, such as masonry blocks, roll-formed profiled steel sheets, tensioned fabric, glass curtainwall, and precast concrete, make building construction more affordable. Because precast concrete is commonly accessible and reasonably priced, it is routinely used to construct these structures. Other building materials used in normal construction are more expensive than steel sheets and tensioned fabric. The glass curtainwall is also the perfect shape and is simple to erect in pre-engineered buildings.
Pre-engineered buildings can be built more affordably than traditional brick-and-mortar homes. Pre-engineered structures also require the least structural work, reducing the time required to construct a building. Pre-engineered building construction, for instance, can be completed in around 2-3 weeks instead of 4-6 months for brick-and-mortar structures. During the anticipated time, it is anticipated that these variables will speed up the market's expansion.
Construction of Warehouses and Investments Creates Tremendous Opportunities
Due to various advancements made by market participants and significant investments made in R&D activities that further enhance product applications, the market players will have profitable chances between 2022 and 2029, according to the estimate. To strengthen their distribution, e-retailers also construct warehouses, eventually expanding the pre-engineered building market.
Asia-Pacific is the most significant global pre-engineered buildings market shareholder and is estimated to exhibit a CAGR of 14.6% over the forecast period.
Population growth, rapid urbanization, and robust economic growth are expected to fuel the building industry in this area. This increases market activity for pre-engineered buildings. Additionally, factors including reduced construction times and prices, compact size, and accessibility to transportation facilitate market expansion in the region. China is one of the most lucrative building markets in the Asia-Pacific region, with construction spending expected to increase by USD 13 trillion by 2030. The nation's expanding income levels, rapid urbanization, and industrialization are all expected to contribute to the growth of the non-residential building industry. China and India have a very dense population, the most populous countries in the Asia-Pacific area. The market is expected to continue expanding in developing nations like China, India, and Indonesia because of the rise in demand for non-residential structures. Pre-engineered structures can also be put up quickly. Therefore, demand for them as storage facilities and emergency shelters in disaster areas will propel market growth.
Europe is anticipated to exhibit a CAGR of 12.7% over the forecast period.
The European construction industry has been improving since 2014. Demand for pre-engineered buildings is expected to increase as infrastructure construction spending rises in Eastern European countries like Bulgaria, Romania, and Slovakia. Nearly 50% of all construction expenditures in Eastern Europe are devoted to the construction of stadiums, hotels, and retail complexes in Russia, and it is projected that these expenditures will rise, spurring market expansion. The need for pre-engineered construction will expand dramatically during the projection period.
The global pre-engineered buildings market size was valued at USD
21,216.38 million in 2022.
It is estimated to reach
USD 68,994.57 million by 2031,
growing at a
CAGR of 14%
during the forecast period (2023–2031). Based on the structure, the global pre-engineered buildings market is bifurcated into single-story and multi-story. The single-story segment dominates the global market and is projected to exhibit a CAGR of 13.7% over the forecast period. Based on application, the global pre-engineered buildings market is bifurcated into commercial and industrial.
The commercial segment owns the highest market share and is predicted to exhibit a CAGR of 14.8% over the forecast period. Asia-Pacific is the most significant global pre-engineered buildings market shareholder and is estimated to exhibit a CAGR of 14.6% over the forecast period.
The key players in the global pre-engineered buildings market are BlueScope Steel, Astron Buildings, Everest Industries, Interarch Building Products Pvt. Ltd., Jindal Buildsys, Kirby Building Systems, Lloyd Insulations, PEB Steel Buildings Co., Ltd., Tiger Steel Engineering (I) Pvt. Ltd. (TSEIL), and Zamil Steel Pre-Engineered Buildings Co. Ltd.
In March 2023,
An opening ceremony was recently held for the newest Kirby plant, a pre-engineered steel manufacturing facility in Halol, Gujarat, a division of Alghanim Industries, a Kuwaiti company. The newest addition is Kirby Building Systems' eighth facility worldwide and third in India. In February 2023,
With an investment of over 200 crores, Greater Noida-based EPACK Prefab Private Limited is establishing a pre-engineered building (PEB) production facility in the Tirupati district to meet the rising demand for PEBs in the southern States.
Global Pre-Engineered Buildings Market: Segmentation
North America Europe Asia-Pacific Latin America The Middle East and Africa
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.