What Factors Propelled The Growth Of The Pre-Engineered Buildings Market In The Past?
The pre-engineered buildings market has seen considerable growth due to a variety of factors.
• In recent years, the market size for pre-engineered buildings has seen robust expansion. It is projected to escalate from $18.79 billion in 2024 to $20.21 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 7.6%.
The substantial growth during the historical period can be credited to advancements in the construction and industrial domains, the need for economical and time-efficient construction methods, urbanization and infrastructure development expansion, the endorsement of environmentally-friendly building practices, and regulatory standards for building safety.
What Is The Projected Growth And Market Size For The Pre-Engineered Buildings Sector?
The pre-engineered buildings market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the pre-engineered buildings market is projected to experience robust growth in the upcoming years, ballooning to a value of $28.11 billion by 2029 with an 8.6% compound annual growth rate.
This anticipated acceleration during the forecast period is largely due to the growing demand for customized pre-engineered building solutions, increased prevalence of prefab and off-site constructions, advances in energy-efficient and net-zero building innovations, and a surge in its usage in the fields of affordable housing and residential applications. Other contributions include the incorporation of automation and IoT into building design. Key trends expected to dominate the forecast period are the development of smart and interconnected pre-engineered buildings, stringent adherence to building safety and codes regulations, flexible and adaptable building designs, customised solutions for diverse industries, and transparency in the procurement and sourcing of building materials.
What Are The Core Factors Supporting Growth In The Pre-Engineered Buildings Market?
The expansion of the pre-engineered building market is anticipated to be driven by growing contributions towards the development of infrastructure. This development process involves the planning, construction, funding, and preservation of necessary physical and organizational structures and facilities in an economy or society. The link of increased infrastructural investments to urbanization programs and the modernization of current structures underlines the importance of smart elevators in fulfilling the vertical movement needs of modern urban areas and refurbished buildings. Pre-engineered buildings offer quick, cost-effective, and adaptable solutions for a wide range of uses in the infrastructure, such as warehouses, commercial spaces, transportation centers, and distribution hubs, thereby improving the flexibility and effectiveness of construction. To illustrate, as per the World Bank, a US-based international financial establishment, in April 2023, there was a noticeable rise in the infrastructural investments in countries with low to middle incomes, maintaining the recovery from 2022. Private involvement in infrastructural investments escalated to $91.7 billion across 263 projects, presenting a significant growth of 23% as compared to 2021. Consequently, the increase in infrastructural development investments will contribute towards the expansion of the pre-engineered building market.
What Are The Major Segments Within The Global Pre-Engineered Buildings Market?
The pre-engineered buildings market covered in this report is segmented –
1) By Structure: Single-story, Multi-story
2) By Products: Walls, Columns and Beams, Roofs and Floors
3) By Application: Warehouses and industrial, Commercial, Infrastructure, Other Applications
Subsegments:
1) By Single-story: Industrial Buildings, Warehouses, Retail Spaces, Agricultural Buildings
2) By Multi-story: Commercial Offices, Residential Complexes, Institutional Buildings
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Which Trends Are Expected To Transform The Pre-Engineered Buildings Market?
Key businesses in the pre-engineered building market are prioritizing the development of hi-tech, high-performance technologies like substantial structural tubular commodities to improve the strength, performance, and architectural versatility of pre-engineered constructions. They aim to meet the rising appetite for economical and eco-friendly construction methods across diverse sectors. Pre-engineered structures use structural tubular products to construct frameworks that are light but robust, providing increased load-bearing capacity, resilience, and design flexibility whilst reducing material costs and building time. For example, in August 2022, APL Apollo, an Indian producer of structural steel tubes and pipes, launched its next-gen Steel Building Solutions (SBS), a revolutionary advancement in tubular construction. These premium-quality pre-engineered building (PEB) resources deliver cost-effectiveness, expedite project schedules, and foster environmental sustainability, hence, proving highly advantageous to the construction industry. The tubular structural steel solutions facilitate quicker and more efficient building processes, encouraging innovation and boosting overall project execution.
Who Are the Key Players in the Pre-Engineered Buildings Market?
Major companies operating in the pre-engineered buildings market include:
• Jindal Buildsys Limited
• Lloyd Insulations (India) Limited
• Interarch Building Products Pvt. Ltd.
• Tiger Steel Engineering (I) Pvt. Ltd. (TSEIL)
• BlueScope Steel Limited
• Modular Engineering Co.
• Enerpan Building Systems Ltd.
• Johnson Bros. Roll Forming Co.
• Flexospan Steel Buildings Inc.
• Panel Built Inc.
• DENIOS Inc.
• Easi-Set Buildings
• Vistamation Inc.
• Rhino Steel Building Systems Inc.
• Butler Buildings
• Armstrong Metal Building Manufacturers
• Duro Steel Buildings
• Future Buildings
• Worldwide Steel Buildings
• Kirby Building Systems
• Nucor Building Systems
• American Buildings Company
• Varco Pruden Buildings
• Chief Buildings
• Star Building Systems
• Ceco Building Systems
• Metallic Building Company
• Rigid Global Buildings
• Olympia Steel Buildings
• Heritage Building Systems
• Behlen Building Systems
• Steel Building Garages
• SteelMaster Buildings
• General Steel Buildings
• Mueller Inc.
What Is The Most Dominant Region In The Pre-Engineered Buildings Market?
Asia-Pacific was the largest region in the pre-engineered buildings market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pre-engineered buildings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
