Pre-Engineered Buildings Market Analysis and Global Forecast 2023-2033

Pre-Engineered Buildings Market Overview

The Pre-Engineered Buildings Market Size is expected to reach USD 31.24 Billion by 2033. The Pre-Engineered Buildings Market industry size accounted for USD 15.98 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 11.85% from 2023 to 2033. The Pre-Engineered Buildings (PEB) Market refers to the sector focused on the design, manufacturing, and installation of pre-engineered buildings. These buildings are constructed using a pre-designed set of materials and components, typically made of steel, which are fabricated in a factory and then assembled on-site.

The PEB market is continuously evolving with advancements in technology and materials, driving the development of more efficient and innovative building solutions.

Global Pre-Engineered Buildings Market Synopsis

COVID-19 Impact Analysis

The COVID-19 pandemic had a significant impact on the Pre-Engineered Buildings (PEB) Market. The pandemic caused disruptions in the supply of raw materials, such as steel, due to factory shutdowns and transportation restrictions. Global and local transportation faced delays, affecting the delivery of pre-engineered components and materials. Lockdowns and social distancing measures led to the suspension of many construction projects, delaying the installation of PEBs. Restrictions on movement and health concerns affected the availability of labor, slowing down construction and assembly processes. There was an increased demand for temporary structures, such as field hospitals and quarantine centers, which could be rapidly deployed using PEB technology. The pandemic accelerated the adoption of digital tools and technologies in the construction industry, including Building Information Modeling (BIM) and remote project management, which can enhance the efficiency of PEB projects. The focus on sustainability and green building practices gained prominence, with PEBs being seen as a more sustainable and efficient building option.

Pre-Engineered Buildings Market Dynamics

The major factors that have impacted the growth of Pre-Engineered Buildings Market are as follows:

Drivers:

Ø  Cost Efficiency and Time Savings

PEBs are typically more cost-effective than traditional construction methods due to standardized design and mass production. The materials used in PEBs, such as galvanized steel, require less maintenance and have longer lifespans. Pre-engineered components can be manufactured simultaneously with site preparation, significantly reducing construction time. The modular nature of PEBs allows for rapid assembly on-site, enabling quicker project completion. Advances in design software (e.g., BIM) and manufacturing technologies enhance the precision and quality of PEBs. Development of new materials and coatings that improve the durability and performance of PEBs. The boom in e-commerce has led to a surge in demand for warehouses and distribution centers, where PEBs are often used.

Restraint:

• Perception of High Initial Investment and Fluctuating Raw Material Prices

The primary material for PEBs is steel, and fluctuations in steel prices can impact overall project costs and profitability. Disruptions in the supply chain for raw materials can lead to delays and increased costs. Although PEBs are cost-effective in the long run, the initial investment required for design, manufacturing, and assembly can be high, deterring some potential clients. Securing financing for PEB projects can be challenging, especially for smaller companies or in regions with limited access to capital.

Opportunity:

⮚     Green Building and Sustainability

Increasing emphasis on sustainability and energy efficiency presents opportunities for PEBs, which can be designed with eco-friendly materials and energy-efficient features. PEBs can be designed to meet green building certifications, such as LEED, enhancing their appeal to environmentally conscious clients. PEBs can be quickly deployed for disaster relief, temporary housing, or medical facilities, offering a solution for urgent and temporary needs. The ability to reconfigure or relocate PEBs makes them suitable for temporary and emergency applications. Utilizing advanced design tools and technologies, such as Building Information Modeling (BIM), can improve the efficiency and accuracy of PEB projects.

Pre-Engineered Buildings Market Segment Overview

By Structure

Based on Structure, the market is segmented based on Single-story, Multi-story and Others. The Single-story segment dominant the market. Single-story pre-engineered buildings are gaining traction due to their cost-effectiveness and rapid production compared to factory-made homes or RCC construction. These structures are quickly constructible and can be customized to meet specific needs, making them ideal for disaster relief shelters. Their design flexibility and easy transportation enhance their demand for temporary kitchens, vocational houses, and other facilities. The affordability and space efficiency of single-story pre-engineered buildings make them increasingly popular, especially as urban spaces become more constrained.

By Application

Based on Application, the market segment has been divided into Warehouses & Industrial, Infrastructure, Commercial and Others. The Warehouses & Industrial segment dominant the market.

Global Pre-Engineered Buildings Market Regional Analysis

Based on region, the global Pre-Engineered Buildings Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Pre-Engineered Buildings Market followed by the Asia-Pacific and Europe regions.

Pre-Engineered Buildings North America Market

North America holds a dominant position in the Pre-Engineered Buildings Market. The North American PEB market is well-established, with significant demand driven by industrial, commercial, and warehouse applications. Urbanization, industrial expansion, and the focus on sustainable construction practices contribute to market growth and there is increasing interest in energy-efficient and environmentally friendly building solutions, including smart PEBs with integrated technologies.

Pre-Engineered Buildings Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Pre-Engineered Buildings Market industry. The Asia-Pacific region is experiencing rapid growth in the PEB market, driven by rapid urbanization and industrialization. Growing economies, increasing infrastructure investments, and a rising demand for cost-effective and scalable construction solutions and there is a significant focus on expanding industrial facilities, commercial spaces, and logistics infrastructure. Emerging markets in countries like India, China, and Southeast Asia are key growth areas.

Competitive Landscape

The global Pre-Engineered Buildings Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• Bluescope
• Zamil Steel Holding Company
• Kirby Building Systems
• Nucor Corporation
• NCI Building Systems
• Lindab Group
• Everest Industries
• PEB Steel
• John Reid & Sons
• ATCO

Key Development

In July 2022, APL Apollo, an Indian producer of structural steel pipes, has launched next-gen steel building solutions that will benefit pre-engineered buildings for their cost-effectiveness, faster speed, and superior quality.

In June 2022, Nucor has agreed to acquire Summit Utility Structures LLC, Sovereign Steel Manufacturing LLC, and another manufacturer of steel utility structures to serve the customers of North America.

Scope of the Report

Global Pre-Engineered Buildings Market, by Structure

• Single-story
• Multi-story
• Others

Global Pre-Engineered Buildings Market, by Application

• Warehouses & Industrial
• Infrastructure
• Commercial
• Others

Global Pre-Engineered Buildings Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

 

Parameters	Indicators
Market Size	2033: USD 31.24 Billion
CAGR (2023-2033)	11.85%
Base year	2022
Forecast Period	2023-2033
Historical Data	2021 (2017 to 2020 On Demand)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Structure, Application
Geographies Covered	North America, Europe, Asia-Pacific, South America, Middle East, Africa
Key Vendors	Bluescope, Zamil Steel Holding Company, Kirby Building Systems, Nucor Corporation, NCI Building Systems, Lindab Group, Everest Industries, PEB Steel, John Reid & Sons and ATCO.
Key Market Opportunities	·       Green Building and Sustainability ·       Disaster Relief
Key Market Drivers	·       Cost Efficiency and Time Savings ·       Technological Advancements

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Pre-Engineered Buildings Market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Pre-Engineered Buildings Market historical market size for the year 2021, and forecast from 2023 to 2033
• Pre-Engineered Buildings Market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Pre-Engineered Buildings Market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.