Pre-Engineered Buildings Market is projected to reach $37,807.3 million by 2026 | BlueScope Steel, Kirby Building, PEB

The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market

PORTLAND, OR, UNITES STATES, March 15, 2022 /EINPresswire.com/ -- Allied Market Research adds Pre-Engineered Buildings Market Forecast to 2026 - COVID-19 Impact and Global Analysis to its store providing analysis of the current and future market competition in the market. Insightful review of the key industry drivers, opportunities, barriers and challenges. Each trend is independently researched to provide qualitative analysis of its implications global pre-engineered buildings market size was valued at $12.5 billion in 2018, and is projected to reach $37.8 billion by 2026, growing at a CAGR of 14.5% from 2019 to 2026. In 2018, by structure, the single-story segment accrued the largest share in the global market. In addition, the expansion of commercial infrastructure sector throughout the globe especially in emerging nations such as Brazil, China, and India fuels the demand for pre-engineered buildings.

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Furthermore, the growth of the commercial and industrial sector, owing to increase in urbanization and population around the globe is projected to propel the demand for pre-engineered buildings in the coming years. Currently, by application, in 2018, the commercial segment have garnered significant market share, owing to expansion of infrastructure sector in the developing regions. For instance, in January 2019, India-based Pennar Engineered Building Systems Limited constructed 18-storey commercial building and 6-storey school building in India. In addition, the industrial segment is expected to exhibit significant growth during the forecast period. In terms of region, Asia-Pacific and Europe collectively contributed around 69.1% of share in the global pre-engineered buildings market in 2018.

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The manufacturers of pre-engineered buildings are focusing toward business expansion and new projects as a strategy to increase their pre-engineered buildings market shares. For instance, in April 2019, Metsä Group invested around US$2 billion in pre-engineering building to expand its bioproduct mill in Finland and Rauma. Similarly, in October 2019, Saudi Arabia based Zamil Steel, a PEB company expanded its Ranjangaon plant to increase their production capacity.

The pre-engineered buildings market has witnessed significant growth over the past decade, owing to rise in investment in the construction industry especially in the Asia-Pacific region. A number of players are expanding their business around the globe, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for the pre-engineered buildings. Furthermore, by application, the industrial segment is expected to grow in the near future due to rapid increase in industrial infrastructure sector

Market players-
BlueScope Steel, Era Infra, Everest Industries, Interarch Building Products, Jindal Buildsys, Kirby Building Systems, Lloyd Insulations, PEB Steel Buildings, Tiger Steel Engineering, and ZamilSteel

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