Global Pre-engineered Buildings Market: Overview
Pre-engineered buildings are an enclosed structural system with wall and roof cladding. These are trending and are likely to grow during the forecast period. Rising demand for sustainable and green buildings are expected to boost the global pre-engineered buildings market in the forthcoming years.
Moreover, minimal cost and time are likely to increase the demand for pre-engineered building. An upcoming Transparency Market Research (TMR) report sheds light on size, trend, share, and growth factors of the global pre-engineered buildings during the forecast period.
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Global Pre-engineered Buildings Market: Notable Developments
Some of the key developments that has taken place in the global pre- engineered buildings market are as follows:
- The concept of pre-engineered buildings was initiated in the USA, it was confined to Middle East and North America until the year 1990. However, in recent times the concept pre-engineered building has reached other regions such as Asia and Africa.
- In 2018, Interarch, a pre-engineered building providers, have won award for being an ‘outstanding company under pre-engineered building category 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 steel manufacturing capacity by constructing a steel plant mill in the U.S, at Brandenburg.
Apart from these key developments in the pre- engineered buildings, there are several companies operating in the global pre-engineered buildings 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 on technological innovation. It is also expected to capture developing countries such as India and China due to increasing disposable income in these regions.
Global Pre-engineered Buildings Market: Drivers and Restraints
Factors that boost and hamper the market are as given below:
Cost Efficiency & Reduced Time to Boost Market
Increasing demand for industrial expansion is expected to drive the global pre-engineered buildings market. Moreover, reduced time and cost efficiency is considered to be one among the major factors that will allow the global pre-engineered buildings market to strengthen during the forecast period.
Furthermore, shortage of labors in conventional construction has led to increasing demand for the pre-engineered buildings. Hence the global pre-engineered market is expected to expand in the years to come.
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Demand for Non Residential Buildings to Promote Growth
Rising demand for single storey buildings from non-residential sectors is expected to boost the demand for pre-engineered buildings. Due to fast growing urbanization, the demand for commercial buildings such as clinic, pharmacies, schools, gyms, and recreational premises are ever growing. This, in turn, propels the global pre-engineered buildings market during the forecast period.
Additionally, increase demand from automobile, aviation, defense, and warehouse sectors are also anticipated to provide growth avenues in the global pre-engineered buildings market.
Global Pre-engineered Buildings Market: Geographical Analysis
On the basis of geography, the global pre-engineered market is anticipated to be dominated by the Asia Pacific region, especially in developing countries like India and China. The factors driving growth in this region are rapid industrialization, increasing demand for non-residential infrastructure, and governments support and investment in green and sustainable buildings. Hence, the global pre-engineered buildings market is predicted to observe growth potential in this region during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.