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Pre-Engineered Buildings Market Growth at a CAGR of 11.2% by 2026 | The Rising Demand from the APAC Region 
Reports And Data
The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market.
NEW YORK CITY, NEW YORK, UNITED STATES, July 12, 2022 /EINPresswire.com/ — The global pre-engineered buildings market is forecast to reach USD 29.65 Billion by 2026, according to a new report by Reports and Data. The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market. Rapid urbanization will also drive the demand for pre-engineered buildings during the forecast period. Construction Industry is a booming industry and is expected to remain so with the continuation of the development process, especially in the developing countries.
The pre-engineered buildings are a cost-saving method of construction. For instance, the use of standard seam roofs, instead of membrane-style roofs can significantly reduce the expenses involved. The use of sheeting can also further drive down the cost. As the materials and designs are pre-engineered, erection of the buildings is quicker and more efficient than a conventional structure.
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Further key findings from the report suggest
Among the materials, steel accounts for the largest market share of ~31% in the year 2018 and is forecasted to grow further with a CAGR of 11.9% during the forecast period. Steel buildings consist of a metal roofing system, supported by a structural steel framing system, and the wall panels of different materials. The walls are generally made from non-load bearing and provide a space free from obstruction by inferior columns. Pre-engineered steel buildings are generally engineered to specific dimensions, taking into account all relevant building regulatory, environmental factors, and potential load issues.
The single-storey structures account for a larger market share of ~59% in the year 2018. Single-storey structures are typically used for factories, workshops, industrial, warehouses, and retail and leisure.
The multi-storey structures are anticipated to witness a higher growth rate of 12.5% during the forecast period. The growth of multi-storey structures is attributed to its demand from the commercial sector. The tangible benefits of multi-storey structures include the ability to provide efficient circulation space, column-free floor spans, integration of building services, and the influence of the site and local access conditions on the construction process.
The Asia Pacific region held the largest market share of ~31% in the year 2018 and is anticipated to witness the highest CAGR of 12.2% during the forecast period. High construction & infrastructure spending in emerging economies, including China and India, are majorly escalating the demand for pre-engineered buildings. Moreover, the growing transportation, logistics, and tourism industries in the region have led to an increased demand for warehouses, power plants, laboratories, restaurants, and others, which positively impacts the market growth.
Key participants include Kirby Building Systems, BlueScope Steel, Zamil Steel, PEB Steel Buildings, Everest Industries, Era Infra, Jindal Buildsys, Interarch Building Products, Multicolor Steels, Lloyd Insulations, SML Group, PEBS Pennar, and Tiger Steel Engineering, among others.
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Segments covered in the report:
Building Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Single-storey
Multi-storey
Material Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Concrete
Steel
Aluminum
Others
End-User Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Industrial
Commercial
Infrastructure
Residential
To know more about the report: https://www.reportsanddata.com/report-detail/pre-engineered-buildings-market
Regional Outlook (Revenue, USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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