Global Pre-Engineered Buildings Market Share Report Forecast 2024 - 2033
1 May, 2024
The pre-engineered buildings market has demonstrated robust growth, escalating from $17.56 billion in 2023 to $18.95 billion in 2024, with a compound annual growth rate (CAGR) of 7.9%. This expansion is driven by flourishing construction and industrial sectors, the demand for efficient construction practices, urbanization, and sustainable building initiatives. Projections for the future suggest strong growth, with the market expected to reach $25.84 billion by 2028, supported by customized solutions, prefab construction, energy-efficient designs, residential applications, and automation integration. Notable trends include smart and connected buildings, regulatory compliance, flexible designs, personalized solutions, and transparency in materials.
Major Driver In The Pre-Engineered Buildings Market
The growth of the pre-engineered buildings market is fueled by the increasing adoption of pre-engineered buildings for office spaces. Rapid urbanization and economic expansion drive the demand for cost-effective construction solutions, with pre-engineered buildings gaining significant traction. This widespread adoption is projected to propel the market in 2023, 2024, and 2028.
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Jindal Buildsys Limited, Lloyd Insulations (India) Limited, Interarch Building Products Pvt. Ltd., Tiger Steel Engineering (I) Pvt. Ltd. (TSEIL), BlueScope Steel Limited, Modular Engineering Co., Enerpan Building Systems Ltd., Johnson Bros. Roll Forming Co., Flexospan Steel Buildings Inc., Panel Built Inc., DENIOS Inc., Easi-Set Buildings, Vistamation Inc., Rhino Steel Building Systems Inc., Butler Buildings, Armstrong Metal Building Manufacturers, Duro Steel Buildings, Future Buildings, Worldwide Steel Buildings, Kirby Building Systems, Nucor Building Systems, American Buildings Company, Varco Pruden Buildings, Chief Buildings, Star Building Systems, Ceco Building Systems, Metallic Building Company, Rigid Global Buildings, Olympia Steel Buildings, Heritage Building Systems, Behlen Building Systems, Steel Building Garages, SteelMaster Buildings, General Steel Buildings, Mueller Inc.
Key Pre-Engineered Buildings Market Trend
The pre-engineered buildings market witnesses a surge in green building practices, aiming for sustainable development. Companies emphasize constructing environmentally friendly structures by utilizing recycled materials, energy efficiency, and innovative design. Notably, Leadership in Energy and Environmental Design (LEED) certification by the US Green Building Council certifies around 2 million square feet of construction space globally each day, reflecting the increasing trend toward green building in the pre-engineered buildings market.
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Pre-Engineered Buildings Market Segmentation
The global pre-engineered buildings market covered in this report is segmented –
1) By Structure: Single-story, Multi-story
2) By Products: Walls, Columns and Beams, Roofs and Floors
3) By Application: Warehouses and industrial, Commercial, Infrastructure, Other Applications
By Geography:The regions covered in the pre-engineered buildings market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the pre-engineered buildings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Pre-Engineered Buildings Global Market Report 2024 furnishes information about the global pre-engineered buildings market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.