The incidence of pre-engineered buildings is about to reach 7.81%total sales which are 13% compound annual growth rate globally by 2019-2023.
We won’t just construct pre-engineered buildings for residential complexes but also for industrial usage. The structure of these pre-engineered buildings is enough strong and environment-friendly. This is one of the reasons why the demand for pre-engineered building is increasing worldwide.
Research requirements for Pre-engineered buildings:
- The pre-engineered building consumption value and volume are analysed, the type of the product and its application.
- The structure of the pre-engineered building market is understood by identifying the sub-segments of the buildings.
- Manufacturers of the pre-engineered buildings are the key factors in defining, describing and analysing the sales volume, value, share market and market competition and landscape, plans developed for the next five years.
- The pre-engineered buildings market is analysed with respect to the individual growth trends, future benefits and their contribution to the total market.
- Sharing detailed information about the factors having an impact on the market growth (potential factors in growth, opportunities, drivers, challenges and risks specific to the industry.
- Expansions that are competitive developments require analysis, agreements, launching the new products and market acquisitions to plan strategically the stakeholders and analysing the strategies for growth.
There is focus on global leading industry stakeholders of Pre-engineered buildings in the global market with information such as company profiles, picture of the product and specification, capacity, production, price, cost, revenue and contact information. The development of the market trends and the channels pertaining to the market are analysed. The flexibility options in the new investment projects are assessed and research conclusions help the valuable source of information and guidance for the companies and the individuals willing to invest in the market. The sector size PEB zone in India is $0.38 billion. The market share analysed reached 12.51% of compound annual growth rate globally for the period 2019-2024.
The customization, aesthetics and rates make pre-engineered building desirable by many industries. India is the fastest-growing market for PEB around 9.5 % which is ahead of China.
In August 2017, Kuwait company for process plant construction was valued USD 6.7 million (SAR 25 million).
Segmentation of pre-engineered buildings:
Pre-engineered buildings are bifurcated into commercial, industrial and Infrastructure. Commercial segments include offices, showrooms and others. Industrial segments are inclusive of factories, warehouses, whereas Infrastructure includes bridges, airport hangars, railway platform and others. Pre-engineered buildings will accentuate conventional methods of construction over a period of 4-5 years. The market size for pre-engineered buildings globally was expected to reach an estimate of 9.73 billion in 2017. The Government is ready to spend for pre-engineered construction will be on-demand in many countries particularly the Asia Pacific, particularly in China and India.
The demand for a pre-engineered commercial building is estimated to be around CAGR of 15.2% in terms of economy with the accelerating investment by consumers, amplifying business in a shorter duration. The North American market is expected to expand at the rate of 13.9% with respect to accepting modern technologies in the construction industry. The U.S. market is increasingly expanding from 1.71% in 2014, to nearly 14% in 2025.
According to a survey conducted by Metal building Associations, about 60% non-residential low rise buildings in the USA were about 60%. The industry is about to reach 30-40% growth in the future.
Pre-engineered buildings amplify conventional methods of construction. They fortify the buildings and the price is reasonably preferable in many industries. The pre-engineered components are manufactured at a fast rate of 60 lac tonnes per annum. The feasibility, customizing capability, and the ability to withstand climatic adversities in addition to being a technological innovation make it highly desirable in any industry.
The low- wattage and economic cost of construction render it desirable in the residential complex and commercial establishments.
The statistics of pre-engineered buildings have gradually increased over the years. The initial rate of investment has exceeded eventually and is anticipated to magnify the investment and growth in the future. Pre-engineered structures are preferred as they are transportable and the skilled labour used renders it quite desirable for warehouses, shopping complex. The strength and endurance capacity also makes it unique in the feature. The advent of metro and other railway transports have accelerated the use of pre-engineered buildings. The low maintenance cost and the risk-free environment with the use of skilled manual labour has amplified the investment in the growth of this industry.
Pre-engineered constructions unlike conventional methods are cost-effective, low-maintenance, with the ability to assemble, disassemble at the sites of construction render it a favourable construction business in the future. The whopping increase in the statistics depicts that they are the desired methods of construction in the near future.
The acceptance of new technological innovations in the construction industry widely accepted by various industries provides a thriving opportunity for growth.
Unlike conventional methods of construction which involve manual labours, and is tedious less cost-effective, and has a maintenance cost, the pre-engineered structures are subsidised as far as these factors are concerned.
In the U.S. and other countries abroad, the residential complexes require wood for construction which are replaced by steel, or heavy metals that provide strength and resistance when compared to wood. The wood used for construction can be affected by the fungus during the rainy season, whereas the use of pre-engineered buildings renders the building pest-free, and has the fortifications to withstand any adversity triggered by climatic and environmental conditions.
Indian industries are already using pre-engineered structures mainly in restaurants, hospitals, and even in residences because of its strength and resistance. In India, the growth rate is going to increase to around 13-15% in the near future.
Apart from other countries, pre-engineered structures are highly desirable in U. S. Due to its growing demand in various industries, with its vast applications, it is about to amplify in the U.S. market from 60% to around 90%. The increase in the growth of the pre-engineered determines the anticipated growth is attainable in the near future.
Pre-engineered buildings are a way of improving conventional buildings in India, whereas in the U.S. they are used because it is strong and resistant. These structures are preferable in commercial, residential, and various other industries.