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Pre-engineered Building Market Analysis Report By Application, By Region, Competitive Landscape And Segment Forecasts From 2018 To 2025

Report ID: MN17620026  |  Published: August 2020  |  No of Pages: 111
Format: Electronic (PDF)  |  Industry: Construction

Industry Insights

The global pre-engineered building (PEB) market size was accounted for USD 9.73 billion, in 2017 and anticipated to grow with a CAGR of 15.5%, during the forecast period, 2018 to 2025. The rising demand for green buildings and the growing need for shortening the construction cost & time, along with increasing demand for lightweight building structures are expected to drive the market growth in the forthcoming years. Furthermore, rising spending by the governments in the construction activities and growing demand for fast track constructions, due to rising population and increasing disposable income in the Asia Pacific regions, especially in India and China are expected to drive the market growth over the forecast period. 

The PEB has been categorized into two structures such as single-store and multi-stores. The single-story buildings are expected to see a high demand in the upcoming years, owing to rising investment in logistics, infrastructural and industrial constructions. Furthermore, the growing number of non-residential constructions, such as education, social infrastructure, retail, education, and healthcare are expected to boost the demand for single-story PEB. 

Additionally, these types of PEB are cost-effective and help in forming the large vacant spaces which are efficient and have architectural flexibility, and are easy to maintain, this is expected to bolster the market growth in the upcoming years. Furthermore, technological development and growing awareness about the modern off-site construction methods are anticipated to drive the market growth over the forecast period. Additionally, the shifting preference of consumers towards green buildings across the globe has prompted manufacturers to shift from conventional steel buildings to PEB, which consumes less energy and requires low cost for the construction. These advantages are projected to create huge growth opportunities for the market over the forecast period. 

U.S. pre-engineered building market

PEB is the enclosure system for the buildings, which requires a basic layout of the building along with the roof and wall cladding. Moreover, it is built by the PEB suppliers as per the customer requirements with the best-suited raw materials. The structural elements include steel plates, rigid frames, columns, and roof beams. These types of buildings provide various advantages such as low maintenance cost, energy-efficient wall & roofing systems, reduced construction time, architectural flexibility, quality control, larger vacant spaces, and flexibility of expansion.

The rising investment by the industries for the construction of commercial buildings & workshops is expected to accelerate the market growth in the upcoming years. Additionally, the growing population and rapid industrialization & urbanization are anticipated to create huge opportunities for the PEB market. For example, Metsä Group has invested around USD 2 billion in the PEB construction, for expanding its bioproduct mill in Rauma and Finland. These types of initiatives are expected to augment the market growth during the forecast period, 2018 to 2025.

Application Insights

The application segment has been divided into commercial and industrial buildings. The commercial buildings segment is projected to see substantial growth with a CAGR of 15.2%, during the forecast period, 2018 to 2025. The segment growth is attributed to the rising number of logistics, e-commerce, and manufacturing sectors, along with the rising purchasing of consumers. The rising consumers demand in these sectors is generating the demand for production plants, factories, R&D centers, distribution centers, and warehouses, which is in turn expected to positively support the market growth. The rising investments by the government for the infrastructural development of railway platform sheds, metro stations sheds, airport terminal buildings, airport hangers, highways & footbridges, and shipyards are expected to accelerate the segment growth over the forecast period. Furthermore, PEB can be constructed in a short period with a low manufacturing cost. These features are attracting commercial builders to adopt the PEB methods, which will in turn project to boost the segment growth.

The rising demand for the service sector in the BFSI, telecom, and IT/ITeS industry, along with the geographical expansion of MNCs companies are expected to fuel the demand for commercial buildings construction. The single-source responsibility, low maintenance cost, and complex structure are some of the advantages of pre-engineered buildings, which in turn is expected to boost the segment growth during the forecast period, 2018 to 2025.

The growing adoption of smartphones along with increasing penetration of the internet in developing counties such as Brazil, China, India, and Pakistan are projected to fuel the demand for the e-commerce industry. As a result, there will be an increase in demand for storage; this will in turn fuel the demand for warehouses and distribution centers. Thus creating more opportunities for the pre-engineered buildings market growth.

Regional Insights

The North American market is expected to see significant growth with a CAGR of 13.9% during the forecast period 2018 to 2025, owing to high penetration of advanced technologies and strong presence of key players in the manufacturing, logistics, retail, and e-commerce sectors such as Walmart Inc., J. C. Penney Company, Inc., and Amazon.com, Inc. The strong economic growth and high disposable income of the consumers are projected to upsurge the residential & commercial constructions in the upcoming years.

China is also projected to substantial growth over the forecast period, owing to the rapidly expanding construction industry and a growing number of e-commerce players in the country. Furthermore, the construction sector is rapidly growing in the country, owing to supportive government policies, increasing investments, and the availability of cheap labor. Additionally, the increasing number of manufacturing plants and growing demand for warehouses and distribution centers are projected to fuel the demand for commercial buildings construction. Thus, expected to fuel the market growth in the country.

U.S. pre-engineered building market

Some of the other Asia Pacific countries such as India, Indonesia, Thailand, Singapore, and Pakistan are witnessing significant growth, owing to the rising population, increasing government investments, rising economic growth, and growing demand for low-cost green buildings. Furthermore, the increasing FDI investments for setting up manufacturing plants, distribution centers, and factories are expected to support the regional market growth. The cheap labor availability, favorable government policies, and trade liberalization are some of the driving factors, which are expected to accelerate the market growth over the forecast period. 

The Middle East countries are also shifting their focus from the oil & gas sector to retail, logistics, and tourism sectors. They are trying to make long-term strategies for sustainable economic growth; as a result, this is expected to create huge growth opportunities for this market across the industries.

Impact of COVID-19

The construction industry is one of the worst-hit sectors amid the COVID-19 pandemic. The shortage of laborers, supply chain disruptions, the shutdown of commercial buildings, and uncertainty in the economy is making it hard for the construction industry to unfold. However, the growing need for rapid construction of quarantine facilities is expected to drive the demand for pre-engineered building technology. For instance, in Wuhan, China has created a 1,000-bed hospital in a ten days period, which has helped governments to tackle the intense situations. Similarly, in Mumbai, India, the government is planning to build a three-story pre-engineered building for the COVID-19 patients in a span of 90 days. Furthermore, as the coronavirus cases are increasing, the requirement for building the quarantine facilities is also expected to rise, which in turn is projected to fuel the demand for PEB technology. Thus, expected to create a huge growth opportunity for the market in the forthcoming years.

Pre-engineered Building (PEB) Market Share Insights

Key companies in the market are BlueScope Steel, Astron Buildings, Everest Industries, Jindal Buildsys, Kirby Building Systems, and Lloyd Insulations, The leading players are adopting various competitive strategies such as collaborations, agreements, and mergers & acquisitions, and product development, in order to gain larger market share and competitive edge in the market. For example, in January 2019, Pennar Engineered Building Systems Limited, an India-based company has constructed a 6-story school and 18-story commercial building in India. Similarly, Everest Industries Ltd has invested around USD 7.2 million in May 2016, in order to improve the PEB technology capabilities and expand PEB projects across India. Furthermore, in January 2019, Nova Buildings has acquired the business of BlueScope in Vietnam. The acquisition will help BlueScope in strengthening the PEB business across Southeast Asian countries. These types of strategies will help companies in expanding their geographical presence and improve brand awareness as well as product reach.

Report Scope

Attribute

Details

The base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, CIS, Europe, Asia Pacific, Central & South America, Middle East, Africa

Country scope

U.S., Canada, Mexico, France, Germany, Russia, U.K., China, India, Japan, Pakistan, South Korea, Australia, New Zealand, Indonesia, Thailand, Brazil, U.A.E., Oman, Jordan, Kuwait, Lebanon, Saudi Arabia

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global pre-engineered building market report on the basis of application and region:

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Commercial buildings
    • Industrial buildings

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Russia
    • Rest of Europe
        • France
        • Germany
        • The U.K.
    • China
    • Japan
    • Rest of Asia Pacific
        • India
        • Pakistan
        • South Korea
        • Australia
        • New Zealand
        • Indonesia
        • Thailand
    • Central & South America
        • Brazil
    • Middle East
        • U.A.E.
        • Oman
        • Jordan
        • Kuwait
        • Lebanon
        • Saudi Arabia
    • Africa

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