The growth of the pre-engineered buildings market is attributed to the rising infrastructure investment in developed countries, rapid industrial expansion, and increasing demand for green buildings. The basic requirements of construction nowadays are the best aesthetic look, rapid, economical & high quality. The pre-engineered building is the best option for these requirements. Pre-engineered buildings are cost-effective, less time-consuming as compared to other conventional buildings. Generally, pre-engineered buildings are faster than traditional buildings, 25 % less time consuming & 30% lighter than traditional buildings. The plan & load on the building are calculated at the beginning, & the members are manufactured in factory & they are just assembled on actual site at the time of construction.
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The economic advantages of utilizing pre-engineering building systems have enabled architects to revolutionize the commercial building industry. By combining conventional wall finishes, including brick, pre-cast wall, and rock-wall panel along with roof systems; it is possible to create functional structures with significantly minimizing project costs. Mezzanine floor framing is also integrated into the design of a structure if additional floor space is required. This provides an economical way to ensure the maximum use of the building’s interior. Architects are now turning their attention towards pre-engineered building systems as an inexpensive way to supply institutional projects for cities, states, and federal purposes. These include projects such as schools and recreational facilities.
Further, growth in non-residential construction, including education, healthcare, retail, and recreational and social infrastructure is propelling the demand for pre-engineered buildings market. Notably, in retail, pre-engineered buildings are gaining prominence owing to the durable structure it provides which architects are looking for in retail premises. Its weather and fire-resistant nature are also the fundamental factors for the increasing pre-engineered building preference in retail.
Key pre-engineered buildings market players include Astron Buildings S.A., BlueScope Steel Ltd., Cornerstone Building Brands, Everest Industries, NCI Building Systems, Nucor Building System, PEB Steel Buildings, and Zamil Steel Pre-Engineered Buildings Co. Ltd., among more. These companies are focused on innovating technologies and building a strong business portfolio to prevail in the market. In April 2019, Nucor, an American steelmaker announced its plans to construct a new state-of-the-art steel plate mill in Kentucky, US. The company’s strategy is to invest about $1.35 billion for the mill, which would have the capability to produce 1.2 million tons of steel plate products per year.
Current Market Trends Covered in the Report:
- Increasing Demand for Green Buildings
- Rapid Urbanization Translating into a Large Number of New Construction Projects
- Rapid Industrialization and Growth in Infrastructural Investment
Global Pre-Engineered Buildings Market – Segmentation
By Product Type
- Aluminum
- Steel
- Others (Concrete)
By Application
- Residential Buildings
- Commercial Buildings
- Industrial Buildings
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
