GlobalPre-engineered Buildings Market: Overview
Pre-engineered buildings are an enclosed structural system withwall and roof cladding. These are trending and are likely to grow during theforecast period. Rising demand for sustainable and green buildings are expectedto boost the globalpre-engineered buildings market in the forthcoming years.
Moreover, minimal cost and time are likely to increase thedemand for pre-engineered building. An upcoming Transparency Market Research(TMR) report sheds light on size, trend, share, and growth factors of theglobal pre-engineered buildings during the forecast period.
GlobalPre-engineered Buildings Market: Notable Developments
Some of the key developments that has taken place in the globalpre- engineered buildings market are as follows:
· The concept of pre-engineered buildings was initiated in theUSA, it was confined to Middle East and North America until the year 1990.However, in recent times the concept pre-engineered building has reached otherregions such as Asia and Africa.
· In 2018, Interarch, a pre-engineered building providers, havewon award for being an ‘outstanding company under pre-engineered buildingcategory from EPC World Awards.
· In 2018, Interarch also received Runner up award for Best PEB(Pre-engineered building) company of the year for Berger Paints India Ltd,Assam.
· During March 2019, Nucor Corporation plans to widen its steelmanufacturing capacity by constructing a steel plant mill in the U.S, atBrandenburg.
Apart from these key developments in the pre- engineeredbuildings, there are several companies operating in the global pre-engineeredbuildings market. These players include Nucor Corporation(US), BlueScope Steel (Australia), PEBS Pennar (India), Everest Industries(India). ATCO (Canada), and PEB Steel Buildings (Vietnam). Of these,Nucor Corporation holds dominant portfolio in the global market by focusing ontechnological innovation. It is also expected to capture developing countriessuch as India and China due to increasing disposable income in theseregions.
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GlobalPre-engineered Buildings Market: Drivers and Restraints
Factors that boost and hamper the market are as given below:
Cost Efficiency & Reduced Time toBoost Market
Increasing demand for industrial expansion is expected to drivethe global pre-engineered buildings market. Moreover, reduced time and costefficiency is considered to be one among the major factors that will allow theglobal pre-engineered buildings market to strengthen during the forecastperiod.
Furthermore, shortage of labors in conventional construction hasled to increasing demand for the pre-engineered buildings. Hence the globalpre-engineered market is expected to expand in the years to come.
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Demandfor Non Residential Buildings to Promote Growth
Rising demand for single storey buildings from non-residentialsectors is expected to boost the demand for pre-engineered buildings. Due tofast growing urbanization, the demand for commercial buildings such as clinic,pharmacies, schools, gyms, and recreational premises are ever growing. This, inturn, propels the global pre-engineered buildings market during the forecastperiod.
Additionally, increase demand from automobile, aviation,defense, and warehouse sectors are also anticipated to provide growth avenuesin the global pre-engineered buildings market.
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GlobalPre-engineered Buildings Market: Geographical Analysis
On the basis of geography, the global pre-engineered market isanticipated to be dominated by the Asia Pacific region, especially indeveloping countries like India and China. The factors driving growth in thisregion are rapid industrialization, increasing demand for non-residentialinfrastructure, and governments support and investment in green and sustainablebuildings. Hence, the global pre-engineered buildings market is predicted toobserve growth potential in this region during the forecast period.
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