Pre-Engineered Buildings Market Revenue | CAGR of 10.41%

11 Oct 2024

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Table of Content

1. Pre-Engineered Buildings Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Pre-Engineered Buildings Market 4. Pre-Engineered Buildings Market Trends: 5. Regional Insights 6. Pre-Engineered Buildings Market Coverage 7. Market News

Pre-Engineered Buildings Market Revenue and Trends

The global pre-engineered buildings market revenue reached USD 21.47 billion in 2024 and is predicted to attain around USD 52.34 billion by 2033 with a CAGR of 10.41% during the forecast period. The rising population and the increasing demand for buildings with reduced construction operations and higher durability are driving the growth of the market.

Market Overview

Pre-engineered buildings are the buildings that are used by the construction industry as a modern alternative to the conventional form of construction. These types of buildings are designed and supplied by pre-engineered building manufacturers and designers and fabricated with the use of different types of raw materials, types of metals, and other components. These different components are made in the factory and assembled at the construction site. There are some of the main components of the pre-engineered buildings include main framing or vertical columns, end wall framing, purlins, girts, & eave struts, crane system, sheeting and insulation, mezzanine system, and paints, and finishes.

Report Highlights of the Pre-Engineered Buildings Market

• By type, the single-story building segment dominated the pre-engineered building market. There is a rising demand for residential buildings in countries like India, China, and others. The multi-story building segment expects significant growth in the market during the forecast period owing to the rise in the demand for commercial spaces and industrial demand, which causes an increase in demand for the market. 
• By application, the commercial segment led the market in 2023 owing to the rising demand for commercial buildings such as shopping complexes, malls, hospitals, and office spaces by the population. The industrial segment is projected to expand rapidly in the pre-engineered buildings market during the predicted time. 

Pre-Engineered Buildings Market Trends:

• The rising smart building technologies: The rising adoption of the technologies in every other industry, and the construction industry is no exception. Rising awareness among the population regarding smart building technologies such as automation system, sensors, AI, and others for increasing comfort and safety.
• Growing real estate: The continuous rise in the development of the construction and real-estate infrastructure owing to the rising demand from the population for residential and commercial buildings is driving the adoption of pre-engineered buildings for rapid construction operations.
• Increase in urbanization: Growing urbanization across regional countries like China, India, the U.S., Canada, Japan, and other leading countries with the rise in the per capita income in the population is driving the demand for construction and well-developed real-estate infrastructure.
• Investment in R&D: The continuous investment in the research and development programs in the construction and advanced techniques associated with the construction industry and equipment are collectively driving the growth of the pre-engineered buildings market. 

Regional Insights

Asia Pacific led the pre-engineered buildings market in 2023, and it is sustaining its dominant position during the predicted period. The continuous rise in the population, urbanization, and the growing per capita income in the population due to the rise in the economic stability in countries like China, India, and Japan drives the demand for the construction industry. The rising real-estate industry is contributing to the expanding demand for pre-engineered buildings due to their modern construction design, durability, strength, and reduced time for the completion of projects. 

Regional countries like India have a wide market for pre-engineered buildings due to the rapidly expanding construction industry and the ongoing demand for commercial and residential building projects. The rising foreign investment in the development of industrialization and extending the culture of startup and IT industry development drives the demand for large commercial spaces and aesthetic office buildings, which boosts the adoption of pre-engineered buildings to fulfill the demand. China is the leading economy in the world and the developed countries in the Asia Pacific region with enhanced economic stability and industrialization that collectively accelerate the demand for the construction industry.

Pre-Engineered Buildings Market Coverage

Market News

• In June 2024, EPACK Prefab, a provider of prefabricated structures and pre-engineered buildings, launched the WasteToWorth campaign during Environment Week. The campaign focuses on sustainability and recycling.
• In February 2023, EPACK Prefab Private Limited, a Greater Noida-based Company, established a Greenfield Pre-Engineered Building (PEB) manufacturing unit in the Tirupati district in India with the ₹200 crore investment for catering to the growing demand for PEBs in the southern States. 

Market Segmentation

By Structure

• Multi-Story
• Single-Story

By Application

• Commercial
• Industrial

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