With the advancement in construction technology, the demand for cost-effective and low time-consuming engineered structures has been increasing. Pre-engineered buildings are the off-site factory-built buildings that are transported and assembled together at the predestined location. These building offers reduction in construction time due to the construction of floor slabs and other foundation at on-site; while beams and columns (structural systems) are being fabricated off-site. Pre-engineered buildings offer durability over prolonged time and provide low maintenance costs, which results in the increased share of global pre-engineered buildings market. Increasing awareness towards modern off-site construction techniques has surged the demand for pre-engineered buildings market. Moreover, favorable government initiatives for green buildings has led the contractors to shift towards pre-engineered buildings, as it requires lesser energy during and posts construction. However, fluctuating steel price coupled with the low market penetration of pre-engineered buildings in emerging economies hampers the market growth of pre-engineered buildings. Moreover, unavailability of skilled labor and advanced construction technology in some emerging economies are some other factors restraining market growth.

Segmental Outlook  

The pre-engineered building market is segmented on the basis of product type and application. Based on product type, the market is classified into aluminum, steel, and others. Based on the application, the market is segmented into residential buildings, commercial buildings, and industrial buildings.

Global Pre-engineered Building Market Share by Application, 2018 (%)

Steel buildings is estimated to have significant market share in the pre-engineered building market

Steel buildings segment is expected to register significant growth in the market during the forecast period. The growth is accredited to the material’s resistance against corrosion and fire, tends to increase the adoption rate of steel buildings. The growing need for green buildings and increasing demand for less construction time coupled with high demand for lightweight building structures has made steel material the preferred solution for construction.

Industrial application segment is projected to register significant growth in the pre-engineered building market

The increasing number of industrial development projects coupled with the rising investment by private construction organizations has led to the burgeoning demand for pre-engineered buildings in industrial sector. The low maintenance cost is further surging the demand for industrial pre-engineered buildings. Moreover, the e-commerce industry is gaining traction in among the global population, which in turn, is increasing the demand for warehouses for the storage of products, owing to which, the steady deployment of pre-engineered building material is monitored for warehouses construction. Moreover, increasing adoption of smartphones among emerging economies, such as India and China, may augment the e-commerce industry.

Regional Outlook

The global pre-engineered building market is further classified on the basis of geography, including North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to register significant growth in the global market during the forecast period. Favorable government initiatives for green building to reduce the carbon footprints is one among the prime factors accelerating the demand for pre-engineered buildings in the region. For instance, Government of India has launched building development initiatives such as Make in India and Smart cities; fostering the demand for warehouses and commercial developments, which in turn, is expected to propel the market growth in Asia-Pacific in the near future.

Global Pre-Engineered Building Market Growth, by Region 2019-2025

Asia-Pacific is Estimated to Exhibit Considerable Growth in Pre-engineered building Market

The pre-engineered building market is rapidly expanding in Asia-Pacific and witnessing a significant growth specifically in the countries, including China, India, Thailand, Indonesia, Vietnam, and the Philippines. The growth in the region is attributed mainly to the increasing non-residential construction and infrastructure development. Emerging economies such as India possess high potential for industrial construction projects; resulting in the high investment from the foreign investors, owing to the cheap availability of labors, favorable government initiatives, and demand for low-cost green buildings.

Market Players Outlook

The major players contributing to the growth of the global pre-engineered building market include BlueScope Steel Ltd., Astron Buildings S.A., Everest Industries, Cornerstone Building Brands, Nucor Building System, and Zamil Steel Pre-Engineered Buildings Co. Ltd. These market players are contributing to the market by adopting various market approaches including product launch and approvals, merger and acquisition, partnerships collaborations, and others for gaining a strong position in the market.

Recent Developments

In January 2019, Nova Buildings Pte. Ltd. has acquired key fabrication assets of BlueScope Steel Ltd. The BlueScope buildings provided steel, building products, pre-engineered buildings, and multi-national services. The acquisition will assist the company to expand its product portfolio and extend geographical outreach.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global pre-engineered building market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.